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SDOW vs TECS

ProShares UltraPro Short Dow30

SDOWANYSE Arca

Direxion Daily Technology Bear 3X ETF

TECSCNYSE Arca

Overlap

Expense ratio

SDOW −0.06pt a year

SDOW0.95%TECS1.01%

Avg volume · 30D

SDOW 7.9×the volume

SDOW3.85MTECS487K

10Y return · a year

SDOW +23.5pt

SDOW−37.6%TECS−61.1%

SDOW vs TECS Performance

Oct 29, 2021 – Oct 30, 2026

−73.1%SDOW−98.0%TECS

Oct 29, 2021 to Oct 30, 2026. SDOW −73.1%. TECS −98.0%. Use the arrow keys to read each point.−50%−25%0%25%50%Oct 2021Apr 2024Oct 2026
Expense ratio
SDOW 0.95%, better
TECS 1.01%
Fund size
SDOW $154M
TECS $72M
1Y total return
SDOW −21.9%, better
TECS −57.4%
Yield (12M)
SDOW 4.76%
TECS 6.44%, better
Holdings
SDOW 10
TECS 8
Avg volume (30D)
SDOW 3.85M sh, better
TECS 487K sh
NAV per share
SDOW $25.01
TECS $56.90
52W range

ETF.net Grade

SDOW: Cost 84, Risk 69, Mission 78, Tradability 81, Holdings 0, Durability 67. TECS: Cost 53, Risk 27, Mission not scored, Tradability 55, Holdings not scored, Durability 46.
Pillar letters and Scores for SDOW, TECS, with each pillar’s weight
PillarSDOWTECS
Cost30% weightA84HigherC53
Mission25% weightA78Not scored
Risk15% weightB69HigherD27
Tradability15% weightA81HigherB55
Holdings10% weightF0Not scored
Durability5% weightB67HigherC46

Rank among 3x Leveraged Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. SDOW and TECS are both graded against the same 14 3x Leveraged Inverse funds, so their Grades compare head to head.

3x Leveraged Inverse⁠

Category · 14 funds
See all 14 ›

SDOW ranks 2nd and TECS 7th of 14 funds in the 3x Leveraged Inverse Category.

  1. Rank 1ASQQQProShares UltraPro Short QQQScore 83
  2. Rank 2ASDOWProShares UltraPro Short Dow30Score 78
  3. Rank 3ASRTYProShares UltraPro Short Russell2000Score 71
  4. Rank 6CFAZDirexion Daily Financial Bear 3x ETFScore 53
  5. Rank 7CTECSDirexion Daily Technology Bear 3X ETFScore 46
  6. Rank 8CYANGDirexion Daily FTSE China Bear 3X ETFScore 45

Our read on each fund

ETF.net Research

SDOWAProShares UltraPro Short Dow30

TECSCDirexion Daily Technology Bear 3X ETF

In short

SDOW The only -3x ETF pointed at the Dow. SDOW aims to deliver three times the inverse of the index's daily move, reset at each close, for 0.95% net of a waiver through September 30, 2027.

TECS A three-times-daily short on the tech sector, in an ordinary ETF wrapper. TECS aims to deliver -3x the daily move of the Technology Select Sector Index, with no margin account and no borrowed shares involved.

Stated mandate

SDOW SDOW seeks daily investment results, before fees and expenses, corresponding to three times the inverse of the daily performance of the Dow Jones Industrial Average.

TECS The fund seeks daily investment results corresponding to the inverse of the Technology Select Sector Index, before fees and expenses.

Why people hold it

  • SDOW ProShares calls it the only -3x ETF built to move against the Dow's daily price, so a bearish view on the 30 blue chips has one address, not a Nasdaq or small-cap stand-in.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (0.98% gross) lands below the 3x bear median, next to SQQQ at 0.94% and SRTY at 0.95% net of a waiver through the same date.
  • Running since 2010 and actively traded, it sits among the stronger implementations in the 3x bear group, which matters for a tool used in days rather than years.
  • TECS Targets -3x the daily move of the Technology Select Sector Index, so a bearish tech stance fits inside a plain brokerage account instead of a short position.direxion.com
  • Launched December 2008, part of the first wave of 3x sector funds, and it has traded through every tech boom and bust since.
  • A 1.01% expense ratio, below the median for leveraged and inverse funds.
  • Actively traded, which matters a lot in a product built to be held for short stretches.

Worth knowing

  • SDOW The -3x target is a one-day target. Held longer, compounding can push results away from -3x the Dow's move over the same stretch, especially after choppy markets.proshares.com
  • Leverage cuts both ways: on a day the Dow rises, the fund is designed to lose roughly three times as much.proshares.com
  • Exposure comes from swaps and futures rather than Dow shares, and the fee runs above a plain Dow index fund.proshares.com
  • TECS The leverage resets every day. Hold past a single session and compounding takes over, so results can diverge widely from -3x the index's move over that period.
  • Swings are violent by design: three times a volatile sector's daily move, in both directions.
  • Everything rides on one sector going one way. Technology is the only exposure here, and only the inverse of it.

Full SDOW profile⁠

Full TECS profile⁠

SDOW vs TECS Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SDOW vs TECS Cost

Overpaying TECS vs SDOW

$981

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SDOW 0.95%

    $17,869

  • TECS 1.01%

    $18,850

$10,000
30 years

Cost over time

  • SDOW 0.95%
  • TECS 1.01%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TECS $18,850SDOW $17,869

Year by year

YearSDOWTECSOverpaying
10$1,678$1,780$102
20$6,322$6,686$364
30$17,869$18,850$981

Expense ratio

  • 0.95%SDOW, cheaper
  • 1.01%TECS
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SDOW 2nd cheapest of 14 funds

TECS 7th cheapest of 14 funds

SDOW vs TECS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SDOW 4.76%
TECS 6.44%, better
Payout (12M)
SDOW $1.19
TECS $4.18
Last payment
SDOW $0.29
TECS $0.50
Ex-dividend
SDOW Sep 23, 2026
TECS Sep 22, 2026
Paid on
SDOW Sep 29, 2026
TECS Sep 29, 2026
Frequency
SDOW Quarterly
TECS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SDOWQuarterly · 26 paymentsAll SDOW payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $1.10; Mar 21, 2018 $2.04; Jun 20, 2018 $2.87; Sep 26, 2018 $3.60; Dec 26, 2018 $6.62; Mar 20, 2019 $2.73; Jun 25, 2019 $4.55; Sep 25, 2019 $3.69; Dec 24, 2019 $2.27; Mar 25, 2020 $1.06; Dec 22, 2022 $0.39; Mar 22, 2023 $0.88; Jun 21, 2023 $1.03; Sep 20, 2023 $1.03; Dec 20, 2023 $1.01; Mar 20, 2024 $1.01; Jun 26, 2024 $1.10; Sep 25, 2024 $0.93; Dec 23, 2024 $1.17; Mar 26, 2025 $0.61; Jun 25, 2025 $0.39; Sep 24, 2025 $0.41; Dec 24, 2025 $0.44; Mar 25, 2026 $0.24; Jun 24, 2026 $0.22; Sep 23, 2026 $0.29. Use the arrow keys to read each point.$0$5002017202020232026YTD
TECSQuarterly · 24 paymentsAll TECS payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Mar 20, 2018 $300.00; Jun 19, 2018 $250.00; Sep 25, 2018 $628.10; Dec 27, 2018 $796.80; Mar 19, 2019 $488.20; Jun 25, 2019 $600.80; Sep 24, 2019 $385.70; Dec 23, 2019 $236.40; Mar 24, 2020 $130.40; Mar 21, 2023 $27.07; Jun 21, 2023 $19.74; Sep 19, 2023 $15.35; Dec 21, 2023 $12.27; Mar 19, 2024 $6.06; Jun 25, 2024 $8.63; Sep 24, 2024 $5.56; Dec 23, 2024 $4.72; Mar 25, 2025 $4.69; Jun 24, 2025 $1.68; Sep 23, 2025 $1.82; Dec 23, 2025 $1.89; Mar 24, 2026 $1.28; Jun 23, 2026 $0.51; Sep 22, 2026 $0.50. Use the arrow keys to read each point.$0$5002017202020232026YTD

SDOW vs TECS Risk

Fall from peak · 5 years

  • SDOW
  • TECS
Oct 29, 2021 to Oct 30, 2026. Worst fall: TECS −99.0% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
SDOW 34.4%, betterTECS 59.7%
Return per unit of riskSharpe ratio, 3 years
SDOW −1.22, betterTECS −1.41
Worst fallMax drawdown, 5 years
SDOW −85.1%, betterTECS −99.0%
Market sensitivityBeta, 5 years
SDOW −2.46TECS −3.64

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