TNA vs. TZA
Compare and contrast key facts about Direxion Daily Small Cap Bull 3X Shares (TNA) and Direxion Daily Small Cap Bear 3X Shares (TZA).
TNA and TZA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TNA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (300%). It was launched on Nov 5, 2008. TZA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (-300%). It was launched on Nov 5, 2008. Both TNA and TZA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TNA or TZA.
Key characteristics
| TNA | TZA | |
|---|---|---|
| YTD Return | 31.96% | -43.10% |
| 1Y Return | 84.05% | -60.90% |
| 3Y Return (Ann) | -21.02% | -19.97% |
| 5Y Return (Ann) | -3.51% | -48.50% |
| 10Y Return (Ann) | 3.59% | -40.53% |
| Sharpe Ratio | 1.77 | -1.04 |
| Sortino Ratio | 2.38 | -1.79 |
| Omega Ratio | 1.29 | 0.79 |
| Calmar Ratio | 1.52 | -0.67 |
| Martin Ratio | 8.91 | -1.66 |
| Ulcer Index | 12.83% | 40.57% |
| Daily Std Dev | 64.68% | 64.80% |
| Max Drawdown | -88.09% | -100.00% |
| Current Drawdown | -52.60% | -100.00% |
Correlation
The correlation between TNA and TZA is -1.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
TNA vs. TZA - Performance Comparison
In the year-to-date period, TNA achieves a 31.96% return, which is significantly higher than TZA's -43.10% return. Over the past 10 years, TNA has outperformed TZA with an annualized return of 3.59%, while TZA has yielded a comparatively lower -40.53% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TNA vs. TZA - Expense Ratio Comparison
TNA has a 1.14% expense ratio, which is higher than TZA's 1.11% expense ratio.
Risk-Adjusted Performance
TNA vs. TZA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Small Cap Bull 3X Shares (TNA) and Direxion Daily Small Cap Bear 3X Shares (TZA). 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.
Dividends
TNA vs. TZA - Dividend Comparison
TNA's dividend yield for the trailing twelve months is around 0.83%, less than TZA's 6.63% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TNA Direxion Daily Small Cap Bull 3X Shares | 0.83% | 1.27% | 0.31% | 0.06% | 0.03% | 0.44% | 0.36% | 0.15% | 0.00% | 0.00% | 0.59% | 1.53% |
TZA Direxion Daily Small Cap Bear 3X Shares | 6.63% | 5.49% | 0.00% | 0.00% | 1.21% | 1.57% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TNA vs. TZA - Drawdown Comparison
The maximum TNA drawdown since its inception was -88.09%, smaller than the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TNA and TZA. For additional features, visit the drawdowns tool.
Volatility
TNA vs. TZA - Volatility Comparison
The current volatility for Direxion Daily Small Cap Bull 3X Shares (TNA) is 21.82%, while Direxion Daily Small Cap Bear 3X Shares (TZA) has a volatility of 24.30%. This indicates that TNA experiences smaller price fluctuations and is considered to be less risky than TZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.