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 -30.51%/yr vs 33.93%/yr for TECL. At a correlation of -0.81, they often move in opposite directions. WEBS charges 1.07%/yr vs 0.91%/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 8.23% return, which is significantly lower than TECL's 79.64% return.
WEBS
- 1D
- 4.12%
- 1M
- 20.33%
- YTD
- 8.23%
- 6M
- 12.06%
- 1Y
- -3.46%
- 3Y*
- -45.46%
- 5Y*
- -30.51%
- 10Y*
- —
TECL
- 1D
- 2.18%
- 1M
- -5.90%
- YTD
- 79.64%
- 6M
- 70.60%
- 1Y
- 150.53%
- 3Y*
- 67.28%
- 5Y*
- 33.93%
- 10Y*
- 53.50%
WEBS vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | 8.23% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
TECL Direxion Daily Technology Bull 3X Shares | 79.64% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 25.08% |
Correlation
The correlation between WEBS and TECL is -0.66, 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 | -0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | -0.81 |
The correlation between WEBS and TECL shifts across timeframes, from -0.81 (all time) to -0.66 (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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| WEBS | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.32 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 3.25 | -3.32 |
| Martin ratioReturn relative to average drawdown | -0.16 | 8.90 | -9.06 |
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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 | -99.48% | -22.85% | -76.63% |
Average DrawdownAverage peak-to-trough decline | -91.11% | -18.38% | -72.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.78% | 16.99% | +5.79% |
Volatility
WEBS vs. TECL - Volatility Comparison
The current volatility for Daily Dow Jones Internet Bear 3X Shares (WEBS) is 22.31%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 37.43%. 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 | 22.31% | 37.43% | -15.12% |
Volatility (6M)Calculated over the trailing 6-month period | 46.50% | 59.13% | -12.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.59% | 69.87% | -10.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.14% | 75.50% | +6.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.73% | 72.99% | +16.74% |
WEBS vs. TECL - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
WEBS vs. TECL - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 2.53%, less than TECL's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TECL Direxion Daily Technology Bull 3X Shares | 3.96% | 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 | 2.53% | 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 -0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (37.43%) compared to WEBS (22.31%). In terms of maximum drawdown, WEBS dropped -99.63% vs TECL's -77.96%.
On 5-year performance, TECL leads with 33.93% vs -30.51% for WEBS. On fees, TECL is cheaper at 0.91% per year. On volatility, WEBS has been the lower-risk option at 22.31%. 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 33.93% return vs -30.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 1.07% for WEBS.
TECL has the higher dividend yield at 3.96%, compared with 2.53% for WEBS.
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 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (2.17 vs -0.06), 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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