Direxion Daily Small Cap Bull 3X Shares (TNA) Performance
TNA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +22.5% since Dec 31, 2025
- 1 year
- +18.9% total return
- 5 years
- −9.0% a year
- 10 years
- +4.8% a year
- Since first price
- +10.0% a year since 2008
TNA trailing returns vs SPY, QQQ, AGG
| Period | TNA total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −7.9% | −7.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −18.6% | −18.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −6.9% | −7.0% | +7.8% | +8.4% | −1.5% |
| YTD | +22.5% | +22.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +18.9% | +18.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +148.1%+35.4%/yr | +141.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −37.5%−9.0%/yr | −39.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +59.2%+4.8%/yr | +51.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +460.3%+12.2%/yr | +419.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 5, 2008 | +452.3%+10.0%/yr | +349.7% | — | — | — |
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: TNA vs SPY
From Nov 5, 2008: TNA grew to $55,234, SPY to $109,469.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TNA returns by calendar year
12 of 17 full years positive. Best 2013 (+146.5%), worst 2022 (−62.5%). 2026 is year to date.
TNA annual returns table
| Year | TNA | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +22.5% | −32.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +9.8% | −58.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +7.2% | −29.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +26.2% | −51.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −62.5% | −67.5% | −18.2% | −32.6% | −13.0% |
| 2021 | +27.9% | −34.1% | +28.7% | +27.4% | −1.8% |
| 2020 | −7.8% | −85.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +71.9% | −30.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −39.9% | −63.3% | −4.6% | −0.1% | +0.1% |
| 2017 | +39.1% | −18.4% | +21.7% | +32.7% | +3.6% |
| 2016 | +59.2% | −38.0% | +12.0% | +7.1% | +2.4% |
| 2015 | −21.5% | −42.8% | +1.2% | +9.4% | +0.5% |
| 2014 | +5.2% | −35.8% | +13.5% | +19.2% | +6.0% |
| 2013 | +146.5% | −16.0% | +32.3% | +36.6% | −2.0% |
| 2012 | +42.6% | −35.2% | +16.0% | +18.1% | +3.8% |
| 2011 | −38.1% | −70.6% | +1.9% | +3.4% | +7.7% |
| 2010 | +69.8% | −53.5% | +15.1% | +19.9% | +6.4% |
| 2009 | +42.4% | −73.1% | +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.
TNA largest drawdowns
Now 48.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 31, 2018 | −88.1% | Mar 23, 2020 | Feb 8, 2021 | 1.6 years | 2.4 years |
| Nov 8, 2021 | −82.4% | Apr 8, 2025 | not yet | 3.4 years | 5.0 years so far |
| Nov 5, 2008 | −79.1% | Mar 9, 2009 | Oct 14, 2009 | 4 months | 11 months |
| Apr 29, 2011 | −70.6% | Oct 3, 2011 | May 10, 2013 | 5 months | 2.0 years |
| Jun 23, 2015 | −62.6% | Feb 11, 2016 | Nov 25, 2016 | 8 months | 1.4 years |
| Apr 23, 2010 | −53.5% | Aug 24, 2010 | Dec 17, 2010 | 4 months | 8 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TNA risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | +27.4% | −6.2% | +4.3% | +12.5% |
| Volatility (annualized) | 60.3% | 63.3% | 63.4% | 60.5% |
| Sharpe ratio | 0.61 | 0.15 | 0.37 | 0.49 |
| Sortino ratio | 1.09 | 0.23 | 0.56 | 0.77 |
| Best month | +38.8% | +38.8% | +61.8% | +61.8% |
| Worst month | −24.8% | −28.1% | −66.2% | −66.2% |
| Best 12 months | +142.4% | +142.4% | +441.1% | +441.1% |
| Worst 12 months | −31.0% | −65.2% | −72.8% | −72.8% |
| Positive months | 61% | 53% | 60% | 60% |
| Beta vs S&P 500 | 3.87 | 3.37 | 3.51 | — |
| Correlation with S&P 500 | 0.80 | 0.83 | 0.85 | — |
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.
TNA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 204 | −72.8% | +16.5% | +441.1% | 62% |
| 3-year (a year) | 180 | −31.9% | +12.9% | +62.4% | 74% |
| 5-year (a year) | 156 | −20.0% | +9.7% | +64.3% | 65% |
| 10-year (a year) | 96 | −4.3% | +8.6% | +34.9% | 90% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
TNA performance overview
Direxion Daily Small Cap Bull 3X Shares (TNA) returned +18.9% over the past year and +4.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned +10.0% a year, turning $10,000 into about $55,234. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −88.1%, from Aug 31, 2018 to Mar 23, 2020, and it took 11 months to get back to the old high. TNA finished 12 of its 17 full calendar years with a gain; the best year was 2013 (+146.5%) and the worst 2022 (−62.5%). Volatility has been 60.5% a year.
Related: TNA chart, TNA dividends. See the TNA overview for the latest quote and fund facts.
TNA performance FAQ
What is the TNA return over the past year?
TNA returned +18.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 18.6%.
What is the average annual return of TNA?
TNA has returned −9.0% a year over 5 years, +4.8% a year over 10 years, +10.0% a year since November 5, 2008 (total return, distributions reinvested).
How much would $10,000 invested in TNA be worth?
$10,000 invested in TNA at its first recorded close on November 5, 2008 would be worth about $55,234 on October 23, 2026 with distributions reinvested.
What was the worst year for TNA?
The worst calendar year was 2022, with a total return of −62.5%. The best was 2013 at +146.5%.
What is the biggest drawdown of TNA?
The largest peak-to-trough decline was −88.1% between August 31, 2018 and March 23, 2020. It recovered to the old high on February 8, 2021, 11 months after the bottom.
How volatile is TNA?
Over the past 3 years TNA had an annualized volatility of 60.3% and a Sharpe ratio of 0.61 (excess return over 1–3 month T-bills per unit of risk).