DPST vs. TQQQ

Last updated Jun 4, 2026

DPST (Direxion Daily Regional Banks Bull 3X Shares) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds - DPST tracks the Solactive US Regional Banks Total Return Index (300%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, DPST returned -14.98%/yr vs 45.33%/yr for TQQQ. At a 0.39 correlation, their price movements are largely independent. DPST charges 0.99%/yr vs 0.95%/yr for TQQQ.

Performance

DPST vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Regional Banks Bull 3X Shares (DPST) 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, DPST achieves a 4.97% return, which is significantly lower than TQQQ's 64.46% return. Over the past 10 years, DPST has underperformed TQQQ with an annualized return of -14.98%, while TQQQ has yielded a comparatively higher 45.33% annualized return.

DPST

• 1D: -7.03%
• 1M: -6.52%
• YTD: 4.97%
• 6M: 6.73%
• 1Y: 37.91%
• 3Y*: 23.22%
• 5Y*: -26.61%
• 10Y*: -14.98%

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)

DPST vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DPST Direxion Daily Regional Banks Bull 3X Shares	4.97%	-5.90%	15.48%	-55.79%	-54.10%	108.31%	-76.53%	70.65%	-56.75%	7.28%
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between DPST and TQQQ is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Aug 20, 2015	0.39

The correlation between DPST and TQQQ shifts across timeframes, from 0.34 (1 year) to 0.46 (5 years), reflecting how their relationship changes across market environments.

DPST vs. TQQQ - Sectors Allocation Comparison

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

Return for Risk

DPST vs. TQQQ — Risk / Return Rank

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

DPST

DPST Risk / Return Rank: 20
DPST Sharpe Ratio Rank: 17
DPST Sortino Ratio Rank: 22
DPST Omega Ratio Rank: 23
DPST Calmar Ratio Rank: 21
DPST Martin Ratio Rank: 19

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.

DPST vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Regional Banks Bull 3X Shares (DPST) 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.

	DPST	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.55	2.92	-2.37
Sortino ratio: Return per unit of downside risk	1.18	3.09	-1.91
Omega ratio: Gain probability vs. loss probability	1.15	1.40	-0.25
Calmar ratio: Return relative to maximum drawdown	0.94	3.75	-2.81
Martin ratio: Return relative to average drawdown	2.11	12.27	-10.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DPST vs. TQQQ - Sharpe Ratio Comparison

The current DPST Sharpe Ratio is 0.55, which is lower than the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of DPST 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

	DPST	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	2.92	-2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.30	0.43	-0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.16	0.69	-0.85
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	0.74	-0.91

Drawdowns

DPST vs. TQQQ - Drawdown Comparison

The maximum DPST drawdown since its inception was -97.73%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for DPST and TQQQ.

Drawdown Indicators

	DPST	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-97.73%	-81.66%	-16.07%
Max Drawdown (1Y) Largest decline over 1 year	-40.44%	-36.97%	-3.47%
Max Drawdown (3Y) Largest decline over 3 years	-68.38%	-58.04%	-10.34%
Max Drawdown (5Y) Largest decline over 5 years	-93.99%	-81.66%	-12.33%
Max Drawdown (10Y) Largest decline over 10 years	-97.73%	-81.66%	-16.07%
Current Drawdown Current decline from peak	-93.57%	-0.76%	-92.81%
Average Drawdown Average peak-to-trough decline	-64.12%	-18.52%	-45.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.04%	11.28%	+6.76%

Volatility

DPST vs. TQQQ - Volatility Comparison

Direxion Daily Regional Banks Bull 3X Shares (DPST) has a higher volatility of 17.99% compared to ProShares UltraPro QQQ (TQQQ) at 13.29%. This indicates that DPST's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPST	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.99%	13.29%	+4.70%
Volatility (6M) Calculated over the trailing 6-month period	47.46%	36.04%	+11.42%
Volatility (1Y) Calculated over the trailing 1-year period	69.35%	47.60%	+21.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.36%	66.53%	+22.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.57%	65.96%	+28.61%

DPST vs. TQQQ - Expense Ratio Comparison

DPST has a 0.99% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

DPST vs. TQQQ - Dividend Comparison

DPST's dividend yield for the trailing twelve months is around 2.01%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPST Direxion Daily Regional Banks Bull 3X Shares	2.01%	2.18%	1.55%	1.78%	1.51%	0.58%	0.90%	1.29%	2.18%	0.30%	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 DPST and TQQQ in my portfolio?

DPST and TQQQ have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DPST or TQQQ?

DPST has higher volatility (17.99%) compared to TQQQ (13.29%). In terms of maximum drawdown, DPST dropped -97.73% vs TQQQ's -81.66%.

Which ETF is better, DPST or TQQQ?

On 10-year performance, TQQQ leads with 45.33% vs -14.98% for DPST. On fees, TQQQ is cheaper at 0.95% per year. On volatility, TQQQ has been the lower-risk option at 13.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DPST or TQQQ?

Over the 10-year period, TQQQ has performed better with a 45.33% return vs -14.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DPST or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 0.99% for DPST.

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

DPST has the higher dividend yield at 2.01%, compared with 0.36% for TQQQ.

What is the main difference between DPST and TQQQ?

DPST tracks Solactive US Regional Banks Total Return Index (300%), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for DPST and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 vs 0.55), 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.