{
 "ticker": "TECL",
 "name": "Direxion Daily Technology Bull 3X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/tecl",
 "html": "https://etfiq.com/funds/tecl",
 "markdown": "https://etfiq.com/funds/tecl.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: TECL returned +9.3% where its own daily promise gave +11.8%, 2.5 points short.",
 "key_facts": [
  {
   "key": "what_xlk_did",
   "label": "What XLK did",
   "value": "+5.6%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "TECL, what XLK did: +5.6%, as of Sep 30, 2026."
  },
  {
   "key": "what_3_times_a_day_gives",
   "label": "What 3 times a day gives",
   "value": "+11.8%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "TECL, what 3 times a day gives: +11.8%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+9.3%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "TECL, what the fund returned: +9.3%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22122.5 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "TECL, the fund itself cost: \u22122.5 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$6.6bn",
   "source": "issuer page, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "TECL, net assets: $6.6bn (issuer page, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.87%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-30",
   "sentence": "TECL, expense ratio: 0.87% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+3 times the daily move of XLK, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+1.68 times, against +3 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "XLK",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, sector",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$6.6bn",
   "source": "issuer page, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.87%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 4, 2010",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "26% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+14.5%",
   "XLK": "+5.1%",
   "+3x the move": "+15.2%",
   "Difference": "\u22120.7 pts",
   "XLK moved about": "18%"
  },
  {
   "window": "3 months",
   "Fund": "+9.3%",
   "XLK": "+5.6%",
   "+3x the move": "+16.7%",
   "Difference": "\u22127.4 pts",
   "XLK moved about": "26%"
  },
  {
   "window": "6 months",
   "Fund": "+158.2%",
   "XLK": "+45.4%",
   "+3x the move": "+136.3%",
   "Difference": "+21.9 pts",
   "XLK moved about": "29%"
  },
  {
   "window": "1 year",
   "Fund": "+99.3%",
   "XLK": "+39.6%",
   "+3x the move": "+118.8%",
   "Difference": "\u221219.5 pts",
   "XLK moved about": "26%"
  },
  {
   "window": "3 years",
   "Fund": "+480.5%",
   "XLK": "+143.3%",
   "+3x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "XLK moved about": "25%"
  },
  {
   "window": "Since launch",
   "Fund": "+28802.2%",
   "XLK": "+1992.5%",
   "+3x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "XLK moved about": "22%"
  }
 ],
 "questions": [
  {
   "q": "Did TECL return +3 times XLK?",
   "a": "Over the window to Sep 30, 2026, XLK moved +5.6% and TECL returned +9.3%. 3 times that move is +16.7%, so the fund came out 7.4 points short of it."
  },
  {
   "q": "Why does TECL not return +3 times over a year?",
   "a": "Because it resets daily. TECL 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."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}