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TNA vs TZA

Direxion Daily Small Cap Bull 3X Shares vs Direxion Daily Small Cap Bear 3X Shares

TNA

Direxion Daily Small Cap Bull 3X Shares

Direxion Funds

Annual cost

1.05%

Fund size

$1.5B

TZA

Direxion Daily Small Cap Bear 3X Shares

Direxion Funds

Annual cost

0.99%

Fund size

$270M

Key differences

  • TZA costs 0.06% less per year.
  • TNA is significantly larger than TZA — larger funds tend to be more liquid and less likely to close.
  • TNA follows a leveraged strategy; TZA uses inverse.
  • Over the last 3 years, TNA has delivered higher annualized returns.

Side-by-side comparison

TNATZA
Annual cost (TER)1.05%0.99%
Fund size (AUM)$1.5B$270M
Since20082008
Dividend yield0.44%4.33%
Asset classequityequity
Regionnorth americanorth america
Strategyleveragedinverse
CAGR 1Y+130.8%-67.4%
CAGR 3Y+30.7%-46.0%
CAGR 5Y-5.2%-30.9%
Sharpe 3Y0.68-0.70
Volatility 1Y57.15%57.16%
Max drawdown-88.09%-99.70%

Green dot indicates the better value for that metric. Performance data is historical and does not predict future results.

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