Direxion Daily Technology Bear 3X Shares (TECS) Performance
TECS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −63.0% since Dec 31, 2025
- 1 year
- −63.6% total return
- 5 years
- −55.1% a year
- 10 years
- −61.2% a year
- Since first price
- −41.4% a year since 2008
TECS trailing returns vs SPY, QQQ, AGG
| Period | TECS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +19.5% | +19.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −14.1% | −14.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −49.8% | −50.7% | +7.8% | +8.4% | −1.5% |
| YTD | −63.0% | −63.9% | +12.3% | +15.1% | −1.0% |
| 1 year | −63.6% | −64.9% | +14.4% | +15.9% | −1.1% |
| 3 years | −95.7%−64.9%/yr | −96.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −98.2%−55.1%/yr | −98.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −99.99%−61.2%/yr | −99.99% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −99.99%−47.0%/yr | −99.99% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionDec 30, 2008 | −99.99%−41.4%/yr | −99.99% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TECS vs SPY
From Dec 30, 2008: TECS grew to $1, SPY to $117,399.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TECS returns by calendar year
1 of 17 full years positive. Best 2022 (+45.0%), worst 2020 (−87.8%). 2026 is year to date.
TECS annual returns table
| Year | TECS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −63.0% | −79.6% | +12.3% | +15.1% | −1.0% |
| 2025 | −62.4% | −83.0% | +17.7% | +20.8% | +7.2% |
| 2024 | −49.8% | −60.3% | +24.9% | +25.6% | +1.3% |
| 2023 | −74.5% | −76.7% | +26.2% | +54.9% | +5.7% |
| 2022 | +45.0% | −49.4% | −18.2% | −32.6% | −13.0% |
| 2021 | −67.9% | −71.7% | +28.7% | +27.4% | −1.8% |
| 2020 | −87.8% | −91.6% | +18.3% | +48.6% | +7.5% |
| 2019 | −73.8% | −77.4% | +31.2% | +39.0% | +8.5% |
| 2018 | −19.1% | −50.8% | −4.6% | −0.1% | +0.1% |
| 2017 | −60.8% | −61.9% | +21.7% | +32.7% | +3.6% |
| 2016 | −11.9% | −16.2% | +12.0% | +7.1% | +2.4% |
| 2015 | 0.0% | 0.0% | +1.2% | +9.4% | +0.5% |
| 2014 | 0.0% | 0.0% | +13.5% | +19.2% | +6.0% |
| 2013 | 0.0% | 0.0% | +32.3% | +36.6% | −2.0% |
| 2012 | 0.0% | 0.0% | +16.0% | +18.1% | +3.8% |
| 2011 | 0.0% | 0.0% | +1.9% | +3.4% | +7.7% |
| 2010 | 0.0% | 0.0% | +15.1% | +19.9% | +6.4% |
| 2009 | 0.0% | 0.0% | +26.4% | +54.7% | +3.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TECS largest drawdowns
Now 99.99% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 1, 2016 | −99.99% | Oct 6, 2026 | not yet | 9.8 years | 9.9 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TECS risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | −67.0% | −58.3% | −61.9% | −42.1% |
| Volatility (annualized) | 56.8% | 65.2% | 56.8% | 43.9% |
| Sharpe ratio | -1.63 | -1.01 | -1.37 | -1.01 |
| Sortino ratio | -1.63 | -1.19 | -1.51 | -1.14 |
| Best month | +26.1% | +42.3% | +42.3% | +42.3% |
| Worst month | −43.2% | −43.2% | −43.2% | −43.2% |
| Best 12 months | −14.1% | +45.0% | +45.0% | +45.0% |
| Worst 12 months | −80.6% | −80.6% | −89.5% | −89.5% |
| Positive months | 33% | 37% | 32% | 18% |
| Beta vs S&P 500 | -3.60 | -3.64 | -3.00 | — |
| Correlation with S&P 500 | -0.79 | -0.87 | -0.81 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TECS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 203 | −89.5% | −32.9% | +45.0% | 1% |
| 3-year (a year) | 179 | −78.3% | −44.9% | 0.0% | 0% |
| 5-year (a year) | 155 | −68.2% | −49.9% | 0.0% | 0% |
| 10-year (a year) | 95 | −61.9% | −43.7% | −12.0% | 0% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
TECS performance overview
Direxion Daily Technology Bear 3X Shares (TECS) returned −63.6% over the past year and −61.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned −41.4% a year, turning $10,000 into about $1. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.99%, from Dec 1, 2016 to Oct 6, 2026; the fund has not yet regained that high. TECS finished 1 of its 17 full calendar years with a gain; the best year was 2022 (+45.0%) and the worst 2020 (−87.8%). Volatility has been 43.9% a year.
Related: TECS chart, TECS dividends. See the TECS overview for the latest quote and fund facts.
TECS performance FAQ
What is the TECS return over the past year?
TECS returned −63.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 64.9%.
What is the average annual return of TECS?
TECS has returned −55.1% a year over 5 years, −61.2% a year over 10 years, −41.4% a year since December 30, 2008 (total return, distributions reinvested).
How much would $10,000 invested in TECS be worth?
$10,000 invested in TECS at its first recorded close on December 30, 2008 would be worth about $1 on October 23, 2026 with distributions reinvested.
What was the worst year for TECS?
The worst calendar year was 2020, with a total return of −87.8%. The best was 2022 at +45.0%.
What is the biggest drawdown of TECS?
The largest peak-to-trough decline was −99.99% between December 1, 2016 and October 6, 2026. It has not yet recovered to that high; it is 99.99% below its peak.
How volatile is TECS?
Over the past 3 years TECS had an annualized volatility of 56.8% and a Sharpe ratio of -1.63 (excess return over 1–3 month T-bills per unit of risk).