TEK vs. TECL

Last updated Jun 5, 2026

TEK (iShares Technology Opportunities Active ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - TEK is a Technology Equities fund actively managed by iShares, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). TEK is actively managed, while TECL is passively managed. Over the past year, TEK returned 61.28% vs 249.35% for TECL. Their correlation of 0.94 suggests significant overlap in exposure. TEK charges 0.75%/yr vs 0.91%/yr for TECL.

Performance

TEK vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Technology Opportunities Active ETF (TEK) and Direxion Daily Technology Bull 3X Shares (TECL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEK achieves a 39.87% return, which is significantly lower than TECL's 115.57% return.

TEK

• 1D: -1.99%
• 1M: 13.74%
• YTD: 39.87%
• 6M: 37.87%
• 1Y: 61.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TECL

• 1D: -4.56%
• 1M: 55.10%
• YTD: 115.57%
• 6M: 106.65%
• 1Y: 249.35%
• 3Y*: 78.93%
• 5Y*: 42.11%
• 10Y*: 53.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TEK vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TEK iShares Technology Opportunities Active ETF	39.87%	18.63%	2.35%
TECL Direxion Daily Technology Bull 3X Shares	115.57%	38.60%	-3.20%

Correlation

The correlation between TEK and TECL is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024	0.94

The correlation between TEK and TECL has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

TEK vs. TECL - Sectors Allocation Comparison

Sectors	TEK	TECL
Technology	85.2%	20.4%
Communication Services	6.0%	-
Consumer Cyclical	3.9%	-
Industrials	2.8%	0.0%
Basic Materials	0.9%	-
Financial Services	0.4%	-
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TEK vs. TECL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TEK

TEK Risk / Return Rank: 66
TEK Sharpe Ratio Rank: 75
TEK Sortino Ratio Rank: 68
TEK Omega Ratio Rank: 67
TEK Calmar Ratio Rank: 66
TEK Martin Ratio Rank: 54

TECL

TECL Risk / Return Rank: 84
TECL Sharpe Ratio Rank: 96
TECL Sortino Ratio Rank: 79
TECL Omega Ratio Rank: 78
TECL Calmar Ratio Rank: 89
TECL Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TEK vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Technology Opportunities Active ETF (TEK) and Direxion Daily Technology Bull 3X Shares (TECL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TEK	TECL	Difference
Sharpe ratio: Return per unit of total volatility	2.40	4.03	-1.64
Sortino ratio: Return per unit of downside risk	3.06	3.52	-0.46
Omega ratio: Gain probability vs. loss probability	1.39	1.46	-0.06
Calmar ratio: Return relative to maximum drawdown	3.19	5.39	-2.20
Martin ratio: Return relative to average drawdown	9.29	15.48	-6.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TEK vs. TECL - Sharpe Ratio Comparison

The current TEK Sharpe Ratio is 2.40, which is lower than the TECL Sharpe Ratio of 4.03. The chart below compares the historical Sharpe Ratios of TEK and TECL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TEK	TECL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	4.03	-1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	0.76	+0.59

Drawdowns

TEK vs. TECL - Drawdown Comparison

The maximum TEK drawdown since its inception was -28.24%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for TEK and TECL.

Drawdown Indicators

	TEK	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-28.24%	-77.96%	+49.72%
Max Drawdown (1Y) Largest decline over 1 year	-19.29%	-46.58%	+27.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-66.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	-2.64%	-7.42%	+4.78%
Average Drawdown Average peak-to-trough decline	-5.88%	-18.38%	+12.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.62%	16.19%	-9.57%

Volatility

TEK vs. TECL - Volatility Comparison

The current volatility for iShares Technology Opportunities Active ETF (TEK) is 9.38%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 21.53%. This indicates that TEK experiences smaller price fluctuations and is considered to be less risky than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEK	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.38%	21.53%	-12.15%
Volatility (6M) Calculated over the trailing 6-month period	21.28%	50.05%	-28.77%
Volatility (1Y) Calculated over the trailing 1-year period	25.71%	62.27%	-36.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.20%	74.08%	-44.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.20%	72.35%	-43.15%

TEK vs. TECL - Expense Ratio Comparison

TEK has a 0.75% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

TEK vs. TECL - Dividend Comparison

TEK's dividend yield for the trailing twelve months is around 1.16%, less than TECL's 3.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECL Direxion Daily Technology Bull 3X Shares	3.30%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%
TEK iShares Technology Opportunities Active ETF	1.16%	1.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEK and TECL in my portfolio?

With a correlation of 0.93, TEK and TECL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TEK or TECL?

TECL has higher volatility (21.53%) compared to TEK (9.38%). In terms of maximum drawdown, TEK dropped -28.24% vs TECL's -77.96%.

Which ETF is better, TEK or TECL?

On 1-year performance, TECL leads with 249.35% vs 61.28% for TEK. On fees, TEK is cheaper at 0.75% per year. On volatility, TEK has been the lower-risk option at 9.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEK or TECL?

Over the 1-year period, TECL has performed better with a 249.35% return vs 61.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEK or TECL?

TEK is cheaper with a 0.75% expense ratio, compared with 0.91% for TECL.

Which ETF pays a higher dividend yield, TEK or TECL?

TECL has the higher dividend yield at 3.30%, compared with 1.16% for TEK.

What is the main difference between TEK and TECL?

TEK is categorized as Technology Equities, while TECL is Leveraged Equities. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.75% for TEK and 0.91% for TECL.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (4.03 vs 2.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.