AAPU vs. TQQQ

Last updated Jun 4, 2026

AAPU (Direxion Daily AAPL Bull 2X Shares) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds - AAPU tracks the Apple Inc. (150%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 3 years, AAPU returned 25.97%/yr vs 69.49%/yr for TQQQ. A 0.63 correlation means they provide meaningful diversification when combined. AAPU charges 1.04%/yr vs 0.95%/yr for TQQQ.

Performance

AAPU vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AAPL Bull 2X Shares (AAPU) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPU achieves a 23.16% return, which is significantly lower than TQQQ's 64.46% return.

AAPU

• 1D: -3.04%
• 1M: 24.81%
• YTD: 23.16%
• 6M: 11.93%
• 1Y: 104.11%
• 3Y*: 25.97%
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPU vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AAPU Direxion Daily AAPL Bull 2X Shares	23.16%	-2.91%	58.45%	68.66%	-32.82%
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	58.27%	198.04%	-48.44%

Correlation

The correlation between AAPU and TQQQ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.63

The correlation between AAPU and TQQQ shifts across timeframes, from 0.48 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

AAPU vs. TQQQ - Sectors Allocation Comparison

Sectors	AAPU	TQQQ
Technology	100.0%	53.8%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

AAPU vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPU

AAPU Risk / Return Rank: 63
AAPU Sharpe Ratio Rank: 70
AAPU Sortino Ratio Rank: 63
AAPU Omega Ratio Rank: 61
AAPU Calmar Ratio Rank: 71
AAPU Martin Ratio Rank: 51

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPU vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bull 2X Shares (AAPU) and ProShares UltraPro QQQ (TQQQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAPU	TQQQ	Difference
Sharpe ratio Return per unit of total volatility	2.34	2.92	-0.57
Sortino ratio Return per unit of downside risk	3.00	3.09	-0.09
Omega ratio Gain probability vs. loss probability	1.38	1.40	-0.02
Calmar ratio Return relative to maximum drawdown	3.62	3.75	-0.13
Martin ratio Return relative to average drawdown	8.72	12.27	-3.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPU vs. TQQQ - Sharpe Ratio Comparison

The current AAPU Sharpe Ratio is 2.34, which is comparable to the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of AAPU and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAPU	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.92	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.74	-0.28

Drawdowns

AAPU vs. TQQQ - Drawdown Comparison

The maximum AAPU drawdown since its inception was -58.61%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for AAPU and TQQQ.

Drawdown Indicators

	AAPU	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-58.61%	-81.66%	+23.05%
Max Drawdown (1Y) Largest decline over 1 year	-28.90%	-36.97%	+8.07%
Max Drawdown (3Y) Largest decline over 3 years	-58.61%	-58.04%	-0.57%
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-3.04%	-0.76%	-2.28%
Average Drawdown Average peak-to-trough decline	-17.69%	-18.52%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.98%	11.28%	+0.70%

Volatility

AAPU vs. TQQQ - Volatility Comparison

The current volatility for Direxion Daily AAPL Bull 2X Shares (AAPU) is 10.71%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.29%. This indicates that AAPU experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPU	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.71%	13.29%	-2.58%
Volatility (6M) Calculated over the trailing 6-month period	31.79%	36.04%	-4.25%
Volatility (1Y) Calculated over the trailing 1-year period	44.66%	47.60%	-2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.93%	66.53%	-17.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.93%	65.96%	-17.03%

AAPU vs. TQQQ - Expense Ratio Comparison

AAPU has a 1.04% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

AAPU vs. TQQQ - Dividend Comparison

AAPU's dividend yield for the trailing twelve months is around 6.90%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAPU Direxion Daily AAPL Bull 2X Shares	6.90%	8.66%	14.58%	2.32%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.36%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both AAPU and TQQQ in my portfolio?

AAPU and TQQQ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPU or TQQQ?

TQQQ has higher volatility (13.29%) compared to AAPU (10.71%). In terms of maximum drawdown, AAPU dropped -58.61% vs TQQQ's -81.66%.

Which ETF is better, AAPU or TQQQ?

On 3-year performance, TQQQ leads with 69.49% vs 25.97% for AAPU. On fees, TQQQ is cheaper at 0.95% per year. On volatility, AAPU has been the lower-risk option at 10.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPU or TQQQ?

Over the 3-year period, TQQQ has performed better with a 69.49% return vs 25.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPU or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 1.04% for AAPU.

Which ETF pays a higher dividend yield, AAPU or TQQQ?

AAPU has the higher dividend yield at 6.90%, compared with 0.36% for TQQQ.

What is the main difference between AAPU and TQQQ?

AAPU tracks Apple Inc. (150%), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.04% for AAPU and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 vs 2.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.