TECL’s worst drop since 2008 was 78%
Direxion Daily Technology Bull 3X (TECL) fell 78% from Dec 2021 to Oct 2022. It took 2.4 years from that peak to close at a new high, in Jun 2024. Over the same years the S&P 500 fell as much as 34%.
That drop is milder than most. It ranks 9th of the 12 leveraged ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2008 to now
How TECL held up in each crash
| Crash | Years | TECL | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −75.1% | −33.7% |
| 2022 rate shock | 2022 | −77.5% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
See how TECL behaves inside your whole mix, with the worst 12 months, loss odds and crash replays. Free, no signup, and the math runs in your browser.
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What was TECL’s maximum drawdown?
TECL’s deepest fall since 2008 was 78.0%, from its high on December 27, 2021 to its low on October 14, 2022. The figure uses daily prices with dividends reinvested.
How long did TECL take to recover?
2.4 years. TECL first closed above its Dec 2021 high again on June 11, 2024.
Was TECL riskier than the S&P 500?
Over the same years, TECL’s worst drop was 78.0% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −76.8% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, December 31, 2008 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.