MQQQ vs. DLLL

Last updated Jun 3, 2026

MQQQ (Tradr 2X Long Triple Q Monthly ETF) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds - MQQQ tracks the NASDAQ-100 Index (200%) while DLLL tracks the Dell Technologies Inc. (DELL). Both are passively managed. Over the past year, MQQQ returned 83.05% vs 986.47% for DLLL. A 0.54 correlation means they provide meaningful diversification when combined. MQQQ charges 1.30%/yr vs 1.50%/yr for DLLL.

Performance

MQQQ vs. DLLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long Triple Q Monthly ETF (MQQQ) and GraniteShares 2x Long DELL Daily ETF (DLLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MQQQ achieves a 39.32% return, which is significantly lower than DLLL's 816.87% return.

MQQQ

• 1D: 1.03%
• 1M: 20.59%
• YTD: 39.32%
• 6M: 35.46%
• 1Y: 83.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DLLL

• 1D: -13.27%
• 1M: 274.22%
• YTD: 816.87%
• 6M: 673.02%
• 1Y: 986.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MQQQ vs. DLLL - Yearly Performance Comparison

	2026 (YTD)	2025
MQQQ Tradr 2X Long Triple Q Monthly ETF	39.32%	21.06%
DLLL GraniteShares 2x Long DELL Daily ETF	816.87%	-3.72%

Correlation

The correlation between MQQQ and DLLL is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.54

The correlation between MQQQ and DLLL has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.

Return for Risk

MQQQ vs. DLLL — Risk / Return Rank

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

MQQQ

MQQQ Risk / Return Rank: 68
MQQQ Sharpe Ratio Rank: 79
MQQQ Sortino Ratio Rank: 66
MQQQ Omega Ratio Rank: 65
MQQQ Calmar Ratio Rank: 67
MQQQ Martin Ratio Rank: 66

DLLL

DLLL Risk / Return Rank: 96
DLLL Sharpe Ratio Rank: 99
DLLL Sortino Ratio Rank: 94
DLLL Omega Ratio Rank: 92
DLLL Calmar Ratio Rank: 98
DLLL Martin Ratio Rank: 95

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.

MQQQ vs. DLLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long Triple Q Monthly ETF (MQQQ) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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.

	MQQQ	DLLL	Difference
Sharpe ratio Return per unit of total volatility	2.60	7.72	-5.13
Sortino ratio Return per unit of downside risk	3.07	5.05	-1.99
Omega ratio Gain probability vs. loss probability	1.40	1.63	-0.23
Calmar ratio Return relative to maximum drawdown	3.40	16.14	-12.74
Martin ratio Return relative to average drawdown	12.24	33.77	-21.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MQQQ vs. DLLL - Sharpe Ratio Comparison

The current MQQQ Sharpe Ratio is 2.60, which is lower than the DLLL Sharpe Ratio of 7.72. The chart below compares the historical Sharpe Ratios of MQQQ and DLLL, 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

	MQQQ	DLLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	7.72	-5.13
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	3.38	-2.06

Drawdowns

MQQQ vs. DLLL - Drawdown Comparison

The maximum MQQQ drawdown since its inception was -42.16%, smaller than the maximum DLLL drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for MQQQ and DLLL.

Drawdown Indicators

	MQQQ	DLLL	Difference
Max Drawdown Largest peak-to-trough decline	-42.16%	-68.58%	+26.42%
Max Drawdown (1Y) Largest decline over 1 year	-25.23%	-57.19%	+31.96%
Current Drawdown Current decline from peak	0.00%	-13.27%	+13.27%
Average Drawdown Average peak-to-trough decline	-7.18%	-25.93%	+18.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.00%	27.33%	-20.33%

Volatility

MQQQ vs. DLLL - Volatility Comparison

The current volatility for Tradr 2X Long Triple Q Monthly ETF (MQQQ) is 8.50%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 68.33%. This indicates that MQQQ experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MQQQ	DLLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.50%	68.33%	-59.83%
Volatility (6M) Calculated over the trailing 6-month period	24.50%	101.80%	-77.30%
Volatility (1Y) Calculated over the trailing 1-year period	32.19%	129.25%	-97.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.26%	130.59%	-87.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.26%	130.59%	-87.33%

MQQQ vs. DLLL - Expense Ratio Comparison

MQQQ has a 1.30% expense ratio, which is lower than DLLL's 1.50% expense ratio.

Dividends

MQQQ vs. DLLL - Dividend Comparison

MQQQ's dividend yield for the trailing twelve months is around 1.45%, while DLLL has not paid dividends to shareholders.

Position	TTM	2025	2024
DLLL GraniteShares 2x Long DELL Daily ETF	0.00%	0.00%	0.00%
MQQQ Tradr 2X Long Triple Q Monthly ETF	1.45%	2.02%	0.02%

Frequently Asked Questions

Can I hold both MQQQ and DLLL in my portfolio?

MQQQ and DLLL 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, MQQQ or DLLL?

DLLL has higher volatility (68.33%) compared to MQQQ (8.50%). In terms of maximum drawdown, MQQQ dropped -42.16% vs DLLL's -68.58%.

Which ETF is better, MQQQ or DLLL?

On 1-year performance, DLLL leads with 986.47% vs 83.05% for MQQQ. On fees, MQQQ is cheaper at 1.30% per year. On volatility, MQQQ has been the lower-risk option at 8.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MQQQ or DLLL?

Over the 1-year period, DLLL has performed better with a 986.47% return vs 83.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MQQQ or DLLL?

MQQQ is cheaper with a 1.30% expense ratio, compared with 1.50% for DLLL.

Which ETF pays a higher dividend yield, MQQQ or DLLL?

MQQQ has the higher dividend yield at 1.45%, compared with 0.00% for DLLL.

What is the main difference between MQQQ and DLLL?

MQQQ tracks NASDAQ-100 Index (200%), while DLLL tracks Dell Technologies Inc. (DELL). They also come from different issuers: AXS and GraniteShares. Their fees differ too: 1.30% for MQQQ and 1.50% for DLLL.

Which has better risk-adjusted returns?

DLLL currently has the higher Sharpe Ratio (7.72 vs 2.60), 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.