# TECS (Direxion Daily Technology Bear 3X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: TECS returned −14.3% where its own daily promise gave −17.3%, 3.0 points over.

## Key facts

- TECS, what XLK did: +1.7%, as of Sep 11, 2026.
- TECS, what −3 times a day gives: −17.3%, as of Sep 11, 2026.
- TECS, what the fund returned: −14.3%, as of Sep 11, 2026.
- TECS, the fund itself added: +3.0 pts, as of Sep 11, 2026.
- TECS, net assets: $85m (source, as filed for Apr 30, 2026).
- TECS, expense ratio: 1.01% (485BPOS XBRL, Feb 26, 2026).

## TECS over each window to Sep 11, 2026

| Window | Fund | XLK | -3x the move | Difference | XLK moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +1.1% | −0.6% | +1.9% | −0.8 pts | 20% |
| 3 months | −14.3% | +1.7% | −5.0% | −9.3 pts | 30% |
| 6 months | −68.9% | +37.5% | −112.6% | +43.7 pts | 30% |
| 1 year | −71.8% | +39.2% | −117.6% | +45.8 pts | 26% |
| 3 years | −95.4% | +124.5% | not meaningful over this window | not meaningful over this window | 25% |
| Since launch | −100.0% | +1903.8% | not meaningful over this window | not meaningful over this window | 22% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -3 times the daily move of XLK, reset daily | ETFIQ |
| Multiple a holder actually got over the window | XLK moved +1.7% over this window, too little to read a multiple from | ETFIQ |
| Underlying | XLK | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $85m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.01% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 30% annualized | ETFIQ |

## Questions

### Did TECS return -3 times XLK?

Over the window to Sep 11, 2026, XLK moved +1.7% and TECS returned −14.3%. 3 times that move is −5.0%, so the fund came out 9.3 points short of it.

### Why does TECS not return -3 times over a year?

Because it resets daily. TECS aims at -3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, TECS, data as of Sep 11, 2026. https://etfiq.com/funds/TECS
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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