MAGX vs. QQQU

Last updated Jun 10, 2026

MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) and QQQU (Direxion Daily Magnificent 7 Bull 2X Shares) are both Leveraged Equities funds. MAGX is actively managed, while QQQU is passively managed. Over the past year, MAGX returned 38.21% vs 45.58% for QQQU. With a 0.98 correlation, they move nearly in lockstep. MAGX charges 0.95%/yr vs 1.07%/yr for QQQU.

Performance

MAGX vs. QQQU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and Direxion Daily Magnificent 7 Bull 2X Shares (QQQU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGX achieves a -6.68% return, which is significantly lower than QQQU's -4.37% return.

MAGX

• 1D: -3.00%
• 1M: -11.98%
• YTD: -6.68%
• 6M: -7.79%
• 1Y: 38.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQU

• 1D: -2.56%
• 1M: -11.49%
• YTD: -4.37%
• 6M: -5.10%
• 1Y: 45.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAGX vs. QQQU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	-6.68%	26.16%	85.10%
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	-4.37%	32.87%	87.67%

Correlation

The correlation between MAGX and QQQU is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.98

The correlation between MAGX and QQQU has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

MAGX vs. QQQU - Sectors Allocation Comparison

Sectors	MAGX	QQQU
Financial Services	25.0%	-
Basic Materials	-	-
Communication Services	-	10.2%
Consumer Cyclical	-	10.7%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	15.5%
Utilities	-	-

Return for Risk

MAGX vs. QQQU — Risk / Return Rank

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

MAGX

MAGX Risk / Return Rank: 27
MAGX Sharpe Ratio Rank: 29
MAGX Sortino Ratio Rank: 29
MAGX Omega Ratio Rank: 29
MAGX Calmar Ratio Rank: 24
MAGX Martin Ratio Rank: 26

QQQU

QQQU Risk / Return Rank: 33
QQQU Sharpe Ratio Rank: 35
QQQU Sortino Ratio Rank: 35
QQQU Omega Ratio Rank: 34
QQQU Calmar Ratio Rank: 28
QQQU Martin Ratio Rank: 30

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.

MAGX vs. QQQU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and Direxion Daily Magnificent 7 Bull 2X Shares (QQQU). 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.

	MAGX	QQQU	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.14	-0.19
Sortino ratio: Return per unit of downside risk	1.44	1.65	-0.21
Omega ratio: Gain probability vs. loss probability	1.18	1.21	-0.03
Calmar ratio: Return relative to maximum drawdown	1.03	1.26	-0.23
Martin ratio: Return relative to average drawdown	3.15	3.91	-0.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAGX vs. QQQU - Sharpe Ratio Comparison

The current MAGX Sharpe Ratio is 0.95, which is comparable to the QQQU Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of MAGX and QQQU, 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

	MAGX	QQQU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	1.14	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.89	-0.14

Drawdowns

MAGX vs. QQQU - Drawdown Comparison

The maximum MAGX drawdown since its inception was -54.19%, roughly equal to the maximum QQQU drawdown of -53.70%. Use the drawdown chart below to compare losses from any high point for MAGX and QQQU.

Drawdown Indicators

	MAGX	QQQU	Difference
Max Drawdown Largest peak-to-trough decline	-54.19%	-53.70%	-0.49%
Max Drawdown (1Y) Largest decline over 1 year	-37.24%	-36.29%	-0.95%
Current Drawdown Current decline from peak	-14.94%	-14.58%	-0.36%
Average Drawdown Average peak-to-trough decline	-13.74%	-13.30%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.18%	11.70%	+0.48%

Volatility

MAGX vs. QQQU - Volatility Comparison

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 12.04% compared to Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) at 11.45%. This indicates that MAGX's price experiences larger fluctuations and is considered to be riskier than QQQU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGX	QQQU	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.04%	11.45%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	30.25%	29.39%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	40.44%	40.13%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.63%	53.09%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.63%	53.09%	+0.54%

MAGX vs. QQQU - Expense Ratio Comparison

MAGX has a 0.95% expense ratio, which is lower than QQQU's 1.07% expense ratio.

Dividends

MAGX vs. QQQU - Dividend Comparison

MAGX's dividend yield for the trailing twelve months is around 2.19%, less than QQQU's 10.03% yield.

Position	TTM	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.19%	2.05%	0.86%
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	10.03%	9.62%	2.75%

Frequently Asked Questions

Can I hold both MAGX and QQQU in my portfolio?

With a correlation of 0.98, MAGX and QQQU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MAGX or QQQU?

MAGX has higher volatility (12.04%) compared to QQQU (11.45%). In terms of maximum drawdown, MAGX dropped -54.19% vs QQQU's -53.70%.

Which ETF is better, MAGX or QQQU?

On 1-year performance, QQQU leads with 45.58% vs 38.21% for MAGX. On fees, MAGX is cheaper at 0.95% per year. On volatility, QQQU has been the lower-risk option at 11.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGX or QQQU?

Over the 1-year period, QQQU has performed better with a 45.58% return vs 38.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGX or QQQU?

MAGX is cheaper with a 0.95% expense ratio, compared with 1.07% for QQQU.

Which ETF pays a higher dividend yield, MAGX or QQQU?

QQQU has the higher dividend yield at 10.03%, compared with 2.19% for MAGX.

What is the main difference between MAGX and QQQU?

They also come from different issuers: Roundhill and Direxion. Their fees differ too: 0.95% for MAGX and 1.07% for QQQU.

Which has better risk-adjusted returns?

QQQU currently has the higher Sharpe Ratio (1.14 vs 0.95), 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.