YNOT vs. TECL

Last updated Jun 24, 2026

YNOT (Horizon Digital Frontier ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - YNOT is a Technology Equities fund actively managed by Horizon, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). YNOT is actively managed, while TECL is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. YNOT charges 0.75%/yr vs 0.91%/yr for TECL.

Performance

YNOT vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Digital Frontier ETF (YNOT) 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, YNOT achieves a 13.56% return, which is significantly lower than TECL's 79.13% return.

YNOT

• 1D: -3.51%
• 1M: -2.23%
• YTD: 13.56%
• 6M: 11.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TECL

• 1D: -12.35%
• 1M: 1.15%
• YTD: 79.13%
• 6M: 71.47%
• 1Y: 169.88%
• 3Y*: 65.84%
• 5Y*: 33.78%
• 10Y*: 52.52%

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

YNOT vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025
YNOT Horizon Digital Frontier ETF	13.56%	12.46%
TECL Direxion Daily Technology Bull 3X Shares	79.13%	27.03%

Correlation

The correlation between YNOT 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 (All Time) Calculated using the full available price history since Jul 10, 2025	0.92

YNOT vs. TECL - Sectors Allocation Comparison

Sectors	YNOT	TECL
Technology	48.5%	22.4%
Industrials	15.8%	0.0%
Communication Services	14.8%	-
Consumer Cyclical	8.3%	-
Basic Materials	8.3%	-
Financial Services	1.8%	-
Utilities	1.2%	-
Healthcare	0.7%	-
Energy	0.6%	0.0%
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

YNOT vs. TECL — Risk / Return Rank

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

YNOT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TECL

TECL Risk / Return Rank: 65
TECL Sharpe Ratio Rank: 80
TECL Sortino Ratio Rank: 55
TECL Omega Ratio Rank: 58
TECL Calmar Ratio Rank: 74
TECL Martin Ratio Rank: 59

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.

YNOT vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Digital Frontier ETF (YNOT) 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.

	YNOT	TECL	Difference
Sharpe ratio: Return per unit of total volatility	—	2.44	—
Sortino ratio: Return per unit of downside risk	—	2.56	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	3.67	—
Martin ratio: Return relative to average drawdown	—	10.12	—

Drawdowns

YNOT vs. TECL - Drawdown Comparison

The maximum YNOT drawdown since its inception was -16.73%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for YNOT and TECL.

Drawdown Indicators

	YNOT	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-16.73%	-77.96%	+61.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-46.58%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-66.58%	—
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	-8.39%	-23.07%	+14.68%
Average Drawdown Average peak-to-trough decline	-3.88%	-18.38%	+14.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.85%	—

Volatility

Volatility by Period

	YNOT	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	38.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	59.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.42%	70.05%	-45.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.42%	75.49%	-51.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.42%	73.01%	-48.59%

YNOT vs. TECL - Expense Ratio Comparison

YNOT has a 0.75% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

YNOT vs. TECL - Dividend Comparison

YNOT has not paid dividends to shareholders, while TECL's dividend yield for the trailing twelve months is around 3.97%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECL Direxion Daily Technology Bull 3X Shares	3.97%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%
YNOT Horizon Digital Frontier ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YNOT and TECL in my portfolio?

With a correlation of 0.92, YNOT 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 ETF is better, YNOT or TECL?

On fees, YNOT is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, YNOT or TECL?

YNOT is cheaper with a 0.75% expense ratio, compared with 0.91% for TECL.

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

TECL has the higher dividend yield at 3.97%, compared with 0.00% for YNOT.

What is the main difference between YNOT and TECL?

YNOT is categorized as Technology Equities, while TECL is Leveraged Equities. They also come from different issuers: Horizon and Direxion. Their fees differ too: 0.75% for YNOT and 0.91% for TECL.