AVS vs. QQQE
AVS (Direxion Daily AVGO Bear 1X Shares) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - AVS is a Inverse Equities fund actively managed by Direxion, while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. AVS is actively managed, while QQQE is passively managed. Over the past year, AVS returned -46.04% vs 28.07% for QQQE. At a correlation of -0.54, they often move in opposite directions. AVS charges 0.98%/yr vs 0.35%/yr for QQQE.
Performance
AVS vs. QQQE - Performance Comparison
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Returns By Period
In the year-to-date period, AVS achieves a -22.61% return, which is significantly lower than QQQE's 18.85% return.
AVS
- 1D
- 12.36%
- 1M
- -0.75%
- YTD
- -22.61%
- 6M
- -16.23%
- 1Y
- -46.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQE
- 1D
- -0.22%
- 1M
- 9.15%
- YTD
- 18.85%
- 6M
- 17.59%
- 1Y
- 28.07%
- 3Y*
- 18.58%
- 5Y*
- 10.25%
- 10Y*
- 15.43%
AVS vs. QQQE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AVS Direxion Daily AVGO Bear 1X Shares | -22.61% | -45.96% | -27.15% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 18.85% | 14.58% | -1.22% |
Correlation
The correlation between AVS and QQQE is -0.45, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024 | -0.54 |
The correlation between AVS and QQQE has been stable across timeframes, ranging from -0.54 to -0.45 - a consistent structural relationship.
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Return for Risk
AVS vs. QQQE — Risk / Return Rank
AVS
QQQE
AVS vs. QQQE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AVGO Bear 1X Shares (AVS) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.
| AVS | QQQE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.03 | ||
| Sortino ratioReturn per unit of downside risk | -4.27 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.34 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 3.00 | -3.83 |
| Martin ratioReturn relative to average drawdown | -1.41 | 10.34 | -11.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AVS | QQQE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.03 | 2.00 | -3.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.51 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.96 | 0.76 | -1.73 |
Drawdowns
AVS vs. QQQE - Drawdown Comparison
The maximum AVS drawdown since its inception was -76.77%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for AVS and QQQE.
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Drawdown Indicators
| AVS | QQQE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.77% | -32.14% | -44.63% |
Max Drawdown (1Y)Largest decline over 1 year | -55.22% | -9.41% | -45.81% |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.38% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.14% | — |
Current DrawdownCurrent decline from peak | -73.73% | -0.32% | -73.41% |
Average DrawdownAverage peak-to-trough decline | -48.93% | -5.17% | -43.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.58% | 2.72% | +29.86% |
Volatility
AVS vs. QQQE - Volatility Comparison
Direxion Daily AVGO Bear 1X Shares (AVS) has a higher volatility of 17.18% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 3.82%. This indicates that AVS's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVS | QQQE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.18% | 3.82% | +13.36% |
Volatility (6M)Calculated over the trailing 6-month period | 32.88% | 10.61% | +22.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.81% | 14.13% | +30.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.72% | 20.29% | +33.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.72% | 20.72% | +33.00% |
AVS vs. QQQE - Expense Ratio Comparison
AVS has a 0.98% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Dividends
AVS vs. QQQE - Dividend Comparison
AVS's dividend yield for the trailing twelve months is around 3.94%, more than QQQE's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVS Direxion Daily AVGO Bear 1X Shares | 3.94% | 4.22% | 1.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.52% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
Frequently Asked Questions
AVS and QQQE have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVS has higher volatility (17.18%) compared to QQQE (3.82%). In terms of maximum drawdown, AVS dropped -76.77% vs QQQE's -32.14%.
On 1-year performance, QQQE leads with 28.07% vs -46.04% for AVS. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QQQE has performed better with a 28.07% return vs -46.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 0.98% for AVS.
AVS has the higher dividend yield at 3.94%, compared with 0.52% for QQQE.
AVS is categorized as Inverse Equities, while QQQE is Nasdaq-100. Their fees differ too: 0.98% for AVS and 0.35% for QQQE.
QQQE currently has the higher Sharpe Ratio (2.00 vs -1.03), 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.
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