XPND vs. TECL

Last updated Jun 4, 2026

XPND (First Trust Expanded Technology ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - XPND is a Technology Equities fund actively managed by First Trust, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). XPND is actively managed, while TECL is passively managed. Over the past 3 years, XPND returned 28.18%/yr vs 80.64%/yr for TECL. Their correlation of 0.95 suggests significant overlap in exposure. XPND charges 0.65%/yr vs 0.91%/yr for TECL.

Performance

XPND vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Expanded Technology ETF (XPND) 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, XPND achieves a 16.32% return, which is significantly lower than TECL's 125.87% return.

XPND

• 1D: -0.83%
• 1M: 12.34%
• YTD: 16.32%
• 6M: 15.44%
• 1Y: 32.11%
• 3Y*: 28.18%
• 5Y*: —
• 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%

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

XPND vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XPND First Trust Expanded Technology ETF	16.32%	18.82%	29.61%	46.13%	-29.66%	15.05%
TECL Direxion Daily Technology Bull 3X Shares	125.87%	38.60%	36.15%	203.14%	-74.32%	73.44%

Correlation

The correlation between XPND and TECL is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 16, 2021	0.95

The correlation between XPND and TECL has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

XPND vs. TECL - Sectors Allocation Comparison

Sectors	XPND	TECL
Technology	76.5%	20.4%
Communication Services	15.7%	-
Financial Services	5.9%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Industrials	-	0.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

XPND vs. TECL — Risk / Return Rank

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

XPND

XPND Risk / Return Rank: 45
XPND Sharpe Ratio Rank: 53
XPND Sortino Ratio Rank: 50
XPND Omega Ratio Rank: 50
XPND Calmar Ratio Rank: 38
XPND Martin Ratio Rank: 36

TECL

TECL Risk / Return Rank: 85
TECL Sharpe Ratio Rank: 96
TECL Sortino Ratio Rank: 80
TECL Omega Ratio Rank: 79
TECL Calmar Ratio Rank: 90
TECL Martin Ratio Rank: 81

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.

XPND vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Expanded Technology ETF (XPND) 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.

	XPND	TECL	Difference
Sharpe ratio: Return per unit of total volatility	1.81	4.35	-2.54
Sortino ratio: Return per unit of downside risk	2.42	3.66	-1.25
Omega ratio: Gain probability vs. loss probability	1.31	1.48	-0.17
Calmar ratio: Return relative to maximum drawdown	1.86	5.79	-3.93
Martin ratio: Return relative to average drawdown	5.46	16.63	-11.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XPND vs. TECL - Sharpe Ratio Comparison

The current XPND Sharpe Ratio is 1.81, which is lower than the TECL Sharpe Ratio of 4.35. The chart below compares the historical Sharpe Ratios of XPND 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

	XPND	TECL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	4.35	-2.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.76	-0.08

Drawdowns

XPND vs. TECL - Drawdown Comparison

The maximum XPND drawdown since its inception was -38.00%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for XPND and TECL.

Drawdown Indicators

	XPND	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-38.00%	-77.96%	+39.96%
Max Drawdown (1Y) Largest decline over 1 year	-17.38%	-46.58%	+29.20%
Max Drawdown (3Y) Largest decline over 3 years	-23.37%	-66.58%	+43.21%
Max Drawdown (5Y) Largest decline over 5 years	—	-77.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	-0.83%	-2.99%	+2.16%
Average Drawdown Average peak-to-trough decline	-10.07%	-18.38%	+8.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.90%	16.19%	-10.29%

Volatility

XPND vs. TECL - Volatility Comparison

The current volatility for First Trust Expanded Technology ETF (XPND) is 4.57%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 20.70%. This indicates that XPND 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

	XPND	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	20.70%	-16.13%
Volatility (6M) Calculated over the trailing 6-month period	14.02%	49.83%	-35.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.86%	62.17%	-44.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.88%	74.09%	-50.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.88%	72.35%	-48.47%

XPND vs. TECL - Expense Ratio Comparison

XPND has a 0.65% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

XPND vs. TECL - Dividend Comparison

XPND's dividend yield for the trailing twelve months is around 0.09%, less 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%
XPND First Trust Expanded Technology ETF	0.09%	0.08%	0.12%	0.18%	0.34%	0.02%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XPND and TECL in my portfolio?

With a correlation of 0.92, XPND 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, XPND or TECL?

TECL has higher volatility (20.70%) compared to XPND (4.57%). In terms of maximum drawdown, XPND dropped -38.00% vs TECL's -77.96%.

Which ETF is better, XPND or TECL?

On 3-year performance, TECL leads with 80.64% vs 28.18% for XPND. On fees, XPND is cheaper at 0.65% per year. On volatility, XPND has been the lower-risk option at 4.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XPND or TECL?

Over the 3-year period, TECL has performed better with a 80.64% return vs 28.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XPND or TECL?

XPND is cheaper with a 0.65% expense ratio, compared with 0.91% for TECL.

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

TECL has the higher dividend yield at 3.15%, compared with 0.09% for XPND.

What is the main difference between XPND and TECL?

XPND is categorized as Technology Equities, while TECL is Leveraged Equities. They also come from different issuers: First Trust and Direxion. Their fees differ too: 0.65% for XPND and 0.91% for TECL.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (4.35 vs 1.81), 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.