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TZA vs. TECS
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

TZA vs. TECS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Small Cap Bear 3X Shares (TZA) and Direxion Daily Technology Bear 3X Shares (TECS). The values are adjusted to include any dividend payments, if applicable.

-100.00%-80.00%-60.00%-40.00%-20.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-100.00%
-100.00%
TZA
TECS

Returns By Period

In the year-to-date period, TZA achieves a -42.69% return, which is significantly higher than TECS's -50.68% return. Over the past 10 years, TZA has outperformed TECS with an annualized return of -40.27%, while TECS has yielded a comparatively lower -56.96% annualized return.


TZA

YTD

-42.69%

1M

-17.92%

6M

-39.40%

1Y

-60.91%

5Y (annualized)

-48.54%

10Y (annualized)

-40.27%

TECS

YTD

-50.68%

1M

-2.72%

6M

-32.01%

1Y

-56.59%

5Y (annualized)

-64.43%

10Y (annualized)

-56.96%

Key characteristics


TZATECS
Sharpe Ratio-0.98-0.88
Sortino Ratio-1.58-1.41
Omega Ratio0.820.84
Calmar Ratio-0.62-0.57
Martin Ratio-1.54-1.45
Ulcer Index39.96%39.45%
Daily Std Dev62.82%64.61%
Max Drawdown-100.00%-100.00%
Current Drawdown-100.00%-100.00%

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TZA vs. TECS - Expense Ratio Comparison

TZA has a 1.11% expense ratio, which is higher than TECS's 1.08% expense ratio.


TZA
Direxion Daily Small Cap Bear 3X Shares
Expense ratio chart for TZA: current value at 1.11% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.11%
Expense ratio chart for TECS: current value at 1.08% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.08%

Correlation

-0.50.00.51.00.6

The correlation between TZA and TECS is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Risk-Adjusted Performance

TZA vs. TECS - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Small Cap Bear 3X Shares (TZA) and Direxion Daily Technology Bear 3X Shares (TECS). 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.


Sharpe ratio
The chart of Sharpe ratio for TZA, currently valued at -0.98, compared to the broader market0.002.004.00-0.98-0.88
The chart of Sortino ratio for TZA, currently valued at -1.58, compared to the broader market-2.000.002.004.006.008.0010.00-1.58-1.41
The chart of Omega ratio for TZA, currently valued at 0.82, compared to the broader market0.501.001.502.002.503.000.820.84
The chart of Calmar ratio for TZA, currently valued at -0.62, compared to the broader market0.005.0010.0015.00-0.62-0.57
The chart of Martin ratio for TZA, currently valued at -1.54, compared to the broader market0.0020.0040.0060.0080.00100.00-1.54-1.45
TZA
TECS

The current TZA Sharpe Ratio is -0.98, which is comparable to the TECS Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of TZA and TECS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio-1.20-1.00-0.80-0.60-0.40JuneJulyAugustSeptemberOctoberNovember
-0.98
-0.88
TZA
TECS

Dividends

TZA vs. TECS - Dividend Comparison

TZA's dividend yield for the trailing twelve months is around 6.59%, more than TECS's 3.35% yield.


TTM202320222021202020192018
TZA
Direxion Daily Small Cap Bear 3X Shares
6.59%5.49%0.00%0.00%1.21%1.57%0.63%
TECS
Direxion Daily Technology Bear 3X Shares
3.35%3.94%0.00%0.00%1.49%1.49%0.33%

Drawdowns

TZA vs. TECS - Drawdown Comparison

The maximum TZA drawdown since its inception was -100.00%, roughly equal to the maximum TECS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TZA and TECS. For additional features, visit the drawdowns tool.


-100.00%-100.00%-100.00%-99.99%-99.99%-99.99%JuneJulyAugustSeptemberOctoberNovember
-100.00%
-100.00%
TZA
TECS

Volatility

TZA vs. TECS - Volatility Comparison

Direxion Daily Small Cap Bear 3X Shares (TZA) has a higher volatility of 24.29% compared to Direxion Daily Technology Bear 3X Shares (TECS) at 18.28%. This indicates that TZA's price experiences larger fluctuations and is considered to be riskier than TECS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


10.00%15.00%20.00%25.00%30.00%35.00%JuneJulyAugustSeptemberOctoberNovember
24.29%
18.28%
TZA
TECS