MEXX vs. QQQ

Last updated Aug 2, 2026

MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - MEXX is a Leveraged Equities fund tracking the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, MEXX returned 13.30%/yr vs 14.23%/yr for QQQ. Their 0.44 correlation means their historical movements had little consistent relationship. MEXX charges 1.21%/yr vs 0.18%/yr for QQQ.

Performance

MEXX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEXX achieves a 19.63% return, which is significantly higher than QQQ's 12.26% return.

MEXX

• 1D: -1.23%
• 1M: 3.31%
• 6M: -4.09%
• YTD: 19.63%
• 1Y: 84.42%
• 3Y*: 0.66%
• 5Y*: 13.30%
• 10Y*: —
• ALL TIME*: -5.47%

QQQ

• 1D: 0.65%
• 1M: -3.45%
• 6M: 10.89%
• YTD: 12.26%
• 1Y: 24.81%
• 3Y*: 22.29%
• 5Y*: 14.23%
• 10Y*: 20.44%
• ALL TIME*: 10.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	$336.70K	$348.59K	$587.57K
QQQ Invesco QQQ ETF	$30.32B	$28.40B	$31.45B

MEXX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	19.63%	181.49%	-73.13%	115.60%	-12.96%	52.75%	-53.63%	21.41%	-51.95%	-15.26%
QQQ Invesco QQQ ETF	12.26%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	14.13%

Correlation

The correlation between MEXX and QQQ is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.45
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.44

MEXX vs. QQQ - Sectors Allocation Comparison

Sectors	MEXX	QQQ
Consumer Defensive	24.6%	6.3%
Basic Materials	24.1%	1.0%
Financial Services	19.1%	0.2%
Industrials	13.6%	2.7%
Communication Services	10.4%	13.1%
Real Estate	6.5%	0.1%
Consumer Cyclical	1.3%	10.7%
Healthcare	0.5%	3.6%
Energy	-	0.5%
Technology	-	60.9%
Utilities	-	1.1%

Return for Risk

MEXX vs. QQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MEXX

MEXX Risk / Return Rank: 51
MEXX Sharpe Ratio Rank: 50
MEXX Sortino Ratio Rank: 51
MEXX Omega Ratio Rank: 50
MEXX Calmar Ratio Rank: 58
MEXX Martin Ratio Rank: 45

QQQ

QQQ Risk / Return Rank: 49
QQQ Sharpe Ratio Rank: 47
QQQ Sortino Ratio Rank: 46
QQQ Omega Ratio Rank: 45
QQQ Calmar Ratio Rank: 53
QQQ Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MEXX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Invesco QQQ ETF (QQQ). 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.

	MEXX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.16	+0.07
Sortino ratio: Return per unit of downside risk	1.82	1.65	+0.17
Omega ratio: Gain probability vs. loss probability	1.23	1.21	+0.02
Calmar ratio: Return relative to maximum drawdown	2.06	1.88	+0.18
Martin ratio: Return relative to average drawdown	5.05	6.00	-0.95

MEXX vs. QQQ - Sharpe Ratio Comparison

The current MEXX Sharpe Ratio is 1.23, which is comparable to the QQQ Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of MEXX and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MEXX vs. QQQ - Drawdown Comparison

The maximum MEXX drawdown since its inception was -95.58%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for MEXX and QQQ.

Drawdown Indicators

	MEXX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-95.58%	-82.97%	-12.61%
Max Drawdown (1Y) Largest decline over 1 year	-38.77%	-11.96%	-26.81%
Max Drawdown (3Y) Largest decline over 3 years	-74.92%	-22.77%	-52.15%
Max Drawdown (5Y) Largest decline over 5 years	-74.92%	-35.12%	-39.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-56.48%	-7.69%	-48.79%
Average Drawdown Average peak-to-trough decline	-65.37%	-32.62%	-32.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.77%	3.74%	+12.03%

Volatility

MEXX vs. QQQ - Volatility Comparison

Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) has a higher volatility of 15.19% compared to Invesco QQQ ETF (QQQ) at 6.87%. This indicates that MEXX's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEXX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.19%	6.87%	+8.32%
Volatility (6M) Calculated over the trailing 6-month period	54.81%	16.08%	+38.73%
Volatility (1Y) Calculated over the trailing 1-year period	65.04%	19.38%	+45.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.05%	22.90%	+44.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.20%	22.50%	+51.70%

MEXX vs. QQQ - Expense Ratio Comparison

MEXX has a 1.21% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

MEXX vs. QQQ - Dividend Comparison

MEXX's dividend yield for the trailing twelve months is around 1.41%, more than QQQ's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	1.41%	1.60%	5.81%	1.66%	1.33%	0.63%	0.12%	1.60%	5.61%	0.27%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.44%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both MEXX and QQQ in my portfolio?

MEXX and QQQ have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEXX or QQQ?

MEXX has higher volatility (15.19%) compared to QQQ (6.87%). In terms of maximum drawdown, MEXX dropped -95.58% vs QQQ's -82.97%.

Which ETF is better, MEXX or QQQ?

On 5-year performance, QQQ leads with 14.23% vs 13.30% for MEXX. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 6.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEXX or QQQ?

Over the 5-year period, QQQ has performed better with a 14.23% return vs 13.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEXX or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 1.21% for MEXX.

Which ETF pays a higher dividend yield, MEXX or QQQ?

MEXX has the higher dividend yield at 1.41%, compared with 0.44% for QQQ.

What is the main difference between MEXX and QQQ?

MEXX is categorized as Leveraged Equities, while QQQ is Nasdaq-100. MEXX tracks MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.21% for MEXX and 0.18% for QQQ.

Which has better risk-adjusted returns?

MEXX currently has the higher Sharpe Ratio (1.23 vs 1.16), 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.