TQQQ vs. TECL

Last updated Jun 7, 2026

TQQQ (ProShares UltraPro QQQ) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds - TQQQ tracks the NASDAQ-100 Index (300%) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, TQQQ returned 42.84%/yr vs 50.09%/yr for TECL. With a 0.96 correlation, they move nearly in lockstep. TQQQ charges 0.95%/yr vs 0.91%/yr for TECL.

Performance

TQQQ vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) 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, TQQQ achieves a 38.79% return, which is significantly lower than TECL's 72.61% return. Over the past 10 years, TQQQ has underperformed TECL with an annualized return of 42.84%, while TECL has yielded a comparatively higher 50.09% annualized return.

TQQQ

• 1D: -14.28%
• 1M: -4.23%
• YTD: 38.79%
• 6M: 30.51%
• 1Y: 98.25%
• 3Y*: 60.11%
• 5Y*: 24.09%
• 10Y*: 42.84%

TECL

• 1D: -19.93%
• 1M: 4.92%
• YTD: 72.61%
• 6M: 62.00%
• 1Y: 174.82%
• 3Y*: 66.22%
• 5Y*: 35.93%
• 10Y*: 50.09%

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

TQQQ vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TQQQ ProShares UltraPro QQQ	38.79%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%
TECL Direxion Daily Technology Bull 3X Shares	72.61%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-24.03%	124.82%

Correlation

The correlation between TQQQ 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 (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010	0.96

The correlation between TQQQ and TECL has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

TQQQ vs. TECL - Sectors Allocation Comparison

Sectors	TQQQ	TECL
Technology	53.8%	20.6%
Communication Services	15.8%	-
Consumer Cyclical	12.3%	-
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	2.8%	0.0%
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	0.0%
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

TQQQ vs. TECL — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 56
TQQQ Sharpe Ratio Rank: 64
TQQQ Sortino Ratio Rank: 50
TQQQ Omega Ratio Rank: 54
TQQQ Calmar Ratio Rank: 58
TQQQ Martin Ratio Rank: 54

TECL

TECL Risk / Return Rank: 70
TECL Sharpe Ratio Rank: 87
TECL Sortino Ratio Rank: 59
TECL Omega Ratio Rank: 63
TECL Calmar Ratio Rank: 79
TECL Martin Ratio Rank: 64

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.

TQQQ vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) 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.

	TQQQ	TECL	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.80	-0.70
Sortino ratio: Return per unit of downside risk	2.41	2.75	-0.34
Omega ratio: Gain probability vs. loss probability	1.33	1.38	-0.05
Calmar ratio: Return relative to maximum drawdown	2.83	3.95	-1.12
Martin ratio: Return relative to average drawdown	9.20	11.27	-2.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQQQ vs. TECL - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 2.10, which is comparable to the TECL Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of TQQQ 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

	TQQQ	TECL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.80	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.48	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.69	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.73	-0.01

Drawdowns

TQQQ vs. TECL - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, roughly equal to the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for TQQQ and TECL.

Drawdown Indicators

	TQQQ	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-77.96%	-3.70%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-46.58%	+9.61%
Max Drawdown (3Y) Largest decline over 3 years	-58.04%	-66.58%	+8.54%
Max Drawdown (5Y) Largest decline over 5 years	-81.66%	-77.96%	-3.70%
Max Drawdown (10Y) Largest decline over 10 years	-81.66%	-77.96%	-3.70%
Current Drawdown Current decline from peak	-16.25%	-25.87%	+9.62%
Average Drawdown Average peak-to-trough decline	-18.52%	-18.38%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.33%	16.27%	-4.94%

Volatility

TQQQ vs. TECL - Volatility Comparison

The current volatility for ProShares UltraPro QQQ (TQQQ) is 20.42%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 31.75%. This indicates that TQQQ 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

	TQQQ	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.42%	31.75%	-11.33%
Volatility (6M) Calculated over the trailing 6-month period	39.33%	55.01%	-15.68%
Volatility (1Y) Calculated over the trailing 1-year period	49.81%	65.56%	-15.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.79%	74.60%	-7.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.11%	72.63%	-6.52%

TQQQ vs. TECL - Expense Ratio Comparison

TQQQ has a 0.95% expense ratio, which is higher than TECL's 0.91% expense ratio.

Dividends

TQQQ vs. TECL - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.43%, less than TECL's 4.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TECL Direxion Daily Technology Bull 3X Shares	4.12%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.43%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both TQQQ and TECL in my portfolio?

With a correlation of 0.93, TQQQ 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, TQQQ or TECL?

TECL has higher volatility (31.75%) compared to TQQQ (20.42%). In terms of maximum drawdown, TQQQ dropped -81.66% vs TECL's -77.96%.

Which ETF is better, TQQQ or TECL?

On 10-year performance, TECL leads with 50.09% vs 42.84% for TQQQ. On fees, TECL is cheaper at 0.91% per year. On volatility, TQQQ has been the lower-risk option at 20.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TQQQ or TECL?

Over the 10-year period, TECL has performed better with a 50.09% return vs 42.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TQQQ or TECL?

TECL is cheaper with a 0.91% expense ratio, compared with 0.95% for TQQQ.

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

TECL has the higher dividend yield at 4.12%, compared with 0.43% for TQQQ.

What is the main difference between TQQQ and TECL?

TQQQ tracks NASDAQ-100 Index (300%), while TECL tracks Technology Select Sector Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for TQQQ and 0.91% for TECL.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (2.80 vs 2.10), 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.