TNA vs VOO
Direxion Daily Small Cap Bull 3X ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. TNA delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | TNA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.05% | 0.03% | |
| AUM | $1.3B | $979.0B | |
| Dividend Yield | 0.28% | 1.09% | |
| Holdings | 12 | 509 | |
| YTD Return | +61.20% | +13.72% | |
| 1Y Return | +99.73% | +21.63% | |
| 3Y Return (annualized) | +28.41% | +21.55% | |
| 5Y Return (annualized) | -2.46% | +13.26% | |
| Volatility (annualized) | 60.6% | 14.1% | |
| Max Drawdown | -88.2% | -34.3% | |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 5, 2008 | Sep 7, 2010 |
TNA vs VOO Performance
Direxion Daily Small Cap Bull 3X ETF (TNA) is a ETF from Direxion Shares ETF Trust and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year TNA returned +99.73% while VOO returned +21.63%. Year to date, TNA is up 61.20% versus a gain of 13.72% for VOO.
Over three years, TNA compounded at +28.41% per year against +21.55% for VOO; over five years the annualized figures are -2.46% and +13.26% respectively. Across the full 16-year window we track, VOO has the edge at +13.56% annualized vs +10.90%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TNA has been the more volatile fund, with annualized monthly volatility of 60.6% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -88.2% for TNA and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
TNA charges 1.05% per year while VOO charges 0.03%. On a $10,000 position that is $105 vs $3 annually, a gap of $102 per year that compounds over a long holding period. On income, TNA currently yields 0.28% against 1.09% for VOO.
Holdings Overlap
TNA and VOO share 0 holdings out of 510 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, TNA or VOO?
TNA has an expense ratio of 1.05% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $102 per year of difference.
Which performed better, TNA or VOO?
Over the past year TNA returned +99.73% vs +21.63% for VOO, so TNA leads on 1-year performance. Over the longest common window we track (16 years), TNA annualized +10.90% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, TNA or VOO?
TNA has been the more volatile fund at 60.6% annualized versus 14.1% for VOO. Worst drawdown: TNA -88.2% vs VOO -34.3%.
Should I hold both TNA and VOO?
TNA and VOO have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TNA and VOO?
TNA and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 510 unique securities.
Which pays a higher dividend, TNA or VOO?
TNA yields 0.28% while VOO yields 1.09%, so VOO currently pays the higher dividend yield.
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