DFCA vs. QPUX

Last updated Jun 25, 2026

DFCA (Dimensional California Municipal Bond ETF) and QPUX (Defiance 2X Daily Long Pure Quantum ETF) are both exchange-traded funds - DFCA is a Municipal Bonds fund actively managed by Dimensional, while QPUX is a Leveraged Equities fund actively managed by Defiance. Both are actively managed. At a 0.02 correlation, their price movements are largely independent. DFCA charges 0.19%/yr vs 1.29%/yr for QPUX.

Performance

DFCA vs. QPUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional California Municipal Bond ETF (DFCA) and Defiance 2X Daily Long Pure Quantum ETF (QPUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFCA achieves a 1.20% return, which is significantly higher than QPUX's -42.38% return.

DFCA

• 1D: 0.11%
• 1M: 0.93%
• YTD: 1.20%
• 6M: 1.30%
• 1Y: 4.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QPUX

• 1D: -16.04%
• 1M: -43.68%
• YTD: -42.38%
• 6M: -52.28%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFCA vs. QPUX - Yearly Performance Comparison

	2026 (YTD)	2025
DFCA Dimensional California Municipal Bond ETF	1.20%	3.00%
QPUX Defiance 2X Daily Long Pure Quantum ETF	-42.38%	-55.09%

Correlation

The correlation between DFCA and QPUX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 7, 2025	0.02

Return for Risk

DFCA vs. QPUX — Risk / Return Rank

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

DFCA

DFCA Risk / Return Rank: 79
DFCA Sharpe Ratio Rank: 91
DFCA Sortino Ratio Rank: 93
DFCA Omega Ratio Rank: 93
DFCA Calmar Ratio Rank: 62
DFCA Martin Ratio Rank: 55

QPUX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DFCA vs. QPUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional California Municipal Bond ETF (DFCA) and Defiance 2X Daily Long Pure Quantum ETF (QPUX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DFCA	QPUX	Difference
Sharpe ratio: Return per unit of total volatility	2.72	—	—
Sortino ratio: Return per unit of downside risk	4.04	—	—
Omega ratio: Gain probability vs. loss probability	1.58	—	—
Calmar ratio: Return relative to maximum drawdown	2.65	—	—
Martin ratio: Return relative to average drawdown	8.37	—	—

Drawdowns

DFCA vs. QPUX - Drawdown Comparison

The maximum DFCA drawdown since its inception was -3.28%, smaller than the maximum QPUX drawdown of -94.73%. Use the drawdown chart below to compare losses from any high point for DFCA and QPUX.

Drawdown Indicators

	DFCA	QPUX	Difference
Max Drawdown Largest peak-to-trough decline	-3.28%	-94.73%	+91.45%
Max Drawdown (1Y) Largest decline over 1 year	-1.77%	—	—
Current Drawdown Current decline from peak	-0.39%	-88.57%	+88.18%
Average Drawdown Average peak-to-trough decline	-0.69%	-69.08%	+68.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	—	—

Volatility

Volatility by Period

	DFCA	QPUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.72%	201.87%	-200.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.47%	201.87%	-199.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.47%	201.87%	-199.40%

DFCA vs. QPUX - Expense Ratio Comparison

DFCA has a 0.19% expense ratio, which is lower than QPUX's 1.29% expense ratio.

Dividends

DFCA vs. QPUX - Dividend Comparison

DFCA's dividend yield for the trailing twelve months is around 2.74%, while QPUX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DFCA Dimensional California Municipal Bond ETF	2.74%	2.86%	2.86%	1.24%
QPUX Defiance 2X Daily Long Pure Quantum ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFCA and QPUX in my portfolio?

DFCA and QPUX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFCA or QPUX?

On fees, DFCA is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFCA or QPUX?

DFCA is cheaper with a 0.19% expense ratio, compared with 1.29% for QPUX.

Which ETF pays a higher dividend yield, DFCA or QPUX?

DFCA has the higher dividend yield at 2.74%, compared with 0.00% for QPUX.

What is the main difference between DFCA and QPUX?

DFCA is categorized as Municipal Bonds, while QPUX is Leveraged Equities. They also come from different issuers: Dimensional and Defiance. Their fees differ too: 0.19% for DFCA and 1.29% for QPUX.