WEBS vs. TECL
WEBS (Daily Dow Jones Internet Bear 3X Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds from Direxion - WEBS tracks the Dow Jones Internet Composite Index (300%) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 5 years, WEBS returned -36.70%/yr vs 43.44%/yr for TECL. At a correlation of -0.82, they often move in opposite directions. WEBS charges 1.07%/yr vs 1.08%/yr for TECL.
Performance
WEBS vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -16.82% return, which is significantly lower than TECL's 125.87% return.
WEBS
- 1D
- 5.89%
- 1M
- -13.46%
- YTD
- -16.82%
- 6M
- -14.14%
- 1Y
- -30.71%
- 3Y*
- -49.47%
- 5Y*
- -36.70%
- 10Y*
- —
TECL
- 1D
- -2.99%
- 1M
- 73.10%
- YTD
- 125.87%
- 6M
- 118.69%
- 1Y
- 267.85%
- 3Y*
- 80.64%
- 5Y*
- 43.44%
- 10Y*
- 54.49%
WEBS vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -16.82% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -13.16% |
TECL Direxion Daily Technology Bull 3X Shares | 125.87% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 22.46% |
Correlation
The correlation between WEBS and TECL is -0.67, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | -0.82 |
The correlation between WEBS and TECL shifts across timeframes, from -0.82 (all time) to -0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WEBS vs. TECL — Risk / Return Rank
WEBS
TECL
WEBS vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) 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.
| WEBS | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.88 | ||
| Sortino ratioReturn per unit of downside risk | -4.18 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.48 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 5.79 | -6.37 |
| Martin ratioReturn relative to average drawdown | -1.33 | 16.63 | -17.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WEBS | TECL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 4.35 | -4.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 0.59 | -1.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 0.76 | -1.35 |
Drawdowns
WEBS vs. TECL - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for WEBS and TECL.
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Drawdown Indicators
| WEBS | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -77.96% | -21.67% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -46.58% | -6.96% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -66.58% | -23.75% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -77.96% | -19.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.96% | — |
Current DrawdownCurrent decline from peak | -99.60% | -2.99% | -96.61% |
Average DrawdownAverage peak-to-trough decline | -91.09% | -18.38% | -72.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.19% | 16.19% | +7.00% |
Volatility
WEBS vs. TECL - Volatility Comparison
The current volatility for Daily Dow Jones Internet Bear 3X Shares (WEBS) is 15.72%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 20.70%. This indicates that WEBS 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.
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Volatility by Period
| WEBS | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.72% | 20.70% | -4.98% |
Volatility (6M)Calculated over the trailing 6-month period | 43.46% | 49.83% | -6.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.60% | 62.17% | -4.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.81% | 74.09% | +7.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.84% | 72.35% | +17.49% |
WEBS vs. TECL - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is lower than TECL's 1.08% expense ratio.
Dividends
WEBS vs. TECL - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 3.92%, more than TECL's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TECL Direxion Daily Technology Bull 3X Shares | 3.15% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.92% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% | 0.00% | 0.00% |
Frequently Asked Questions
WEBS and TECL have a correlation of -0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (20.70%) compared to WEBS (15.72%). In terms of maximum drawdown, WEBS dropped -99.63% vs TECL's -77.96%.
On 5-year performance, TECL leads with 43.44% vs -36.70% for WEBS. On fees, WEBS is cheaper at 1.07% per year. On volatility, WEBS has been the lower-risk option at 15.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TECL has performed better with a 43.44% return vs -36.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WEBS is cheaper with a 1.07% expense ratio, compared with 1.08% for TECL.
WEBS has the higher dividend yield at 3.92%, compared with 3.15% for TECL.
WEBS tracks Dow Jones Internet Composite Index (300%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.07% for WEBS and 1.08% for TECL.
TECL currently has the higher Sharpe Ratio (4.35 vs -0.54), 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.
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