MQQQ vs. DXNLX

Last updated Jun 3, 2026

MQQQ (Tradr 2X Long Triple Q Monthly ETF) and DXNLX (Direxion Monthly NASDAQ-100 Bull 1.25X Fund) are both Leveraged Equities funds. Over the past year, MQQQ returned 83.05% vs 50.23% for DXNLX. With a 0.98 correlation, they move nearly in lockstep. MQQQ charges 1.30%/yr vs 1.19%/yr for DXNLX.

Performance

MQQQ vs. DXNLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long Triple Q Monthly ETF (MQQQ) and Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX). 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 higher than DXNLX's 24.74% return.

MQQQ

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

DXNLX

• 1D: 0.74%
• 1M: 12.47%
• YTD: 24.74%
• 6M: 22.67%
• 1Y: 50.23%
• 3Y*: 32.26%
• 5Y*: 18.99%
• 10Y*: —

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

MQQQ vs. DXNLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MQQQ Tradr 2X Long Triple Q Monthly ETF	39.32%	31.67%	19.72%
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	24.74%	22.13%	12.71%

Correlation

The correlation between MQQQ and DXNLX is 1.00 - 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	1.00
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	0.98

The correlation between MQQQ and DXNLX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

MQQQ vs. DXNLX — 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

DXNLX

DXNLX Risk / Return Rank: 65
DXNLX Sharpe Ratio Rank: 79
DXNLX Sortino Ratio Rank: 61
DXNLX Omega Ratio Rank: 59
DXNLX Calmar Ratio Rank: 69
DXNLX Martin Ratio Rank: 59

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. DXNLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long Triple Q Monthly ETF (MQQQ) and Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX). 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	DXNLX	Difference
Sharpe ratio Return per unit of total volatility	2.60	2.59	+0.01
Sortino ratio Return per unit of downside risk	3.07	3.28	-0.21
Omega ratio Gain probability vs. loss probability	1.40	1.43	-0.03
Calmar ratio Return relative to maximum drawdown	3.40	3.23	+0.17
Martin ratio Return relative to average drawdown	12.24	11.92	+0.33
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. DXNLX - Sharpe Ratio Comparison

The current MQQQ Sharpe Ratio is 2.60, which is comparable to the DXNLX Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of MQQQ and DXNLX, 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	DXNLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	2.59	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.85	+0.47

Drawdowns

MQQQ vs. DXNLX - Drawdown Comparison

The maximum MQQQ drawdown since its inception was -42.16%, roughly equal to the maximum DXNLX drawdown of -43.77%. Use the drawdown chart below to compare losses from any high point for MQQQ and DXNLX.

Drawdown Indicators

	MQQQ	DXNLX	Difference
Max Drawdown Largest peak-to-trough decline	-42.16%	-43.77%	+1.61%
Max Drawdown (1Y) Largest decline over 1 year	-25.23%	-15.91%	-9.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.77%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.18%	-8.71%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.00%	4.31%	+2.69%

Volatility

MQQQ vs. DXNLX - Volatility Comparison

Tradr 2X Long Triple Q Monthly ETF (MQQQ) has a higher volatility of 8.50% compared to Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) at 5.57%. This indicates that MQQQ's price experiences larger fluctuations and is considered to be riskier than DXNLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MQQQ	DXNLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.50%	5.57%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	24.50%	15.19%	+9.31%
Volatility (1Y) Calculated over the trailing 1-year period	32.19%	20.08%	+12.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.26%	28.25%	+15.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.26%	28.85%	+14.41%

MQQQ vs. DXNLX - Expense Ratio Comparison

MQQQ has a 1.30% expense ratio, which is higher than DXNLX's 1.19% expense ratio.

Dividends

MQQQ vs. DXNLX - Dividend Comparison

MQQQ's dividend yield for the trailing twelve months is around 1.45%, more than DXNLX's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXNLX Direxion Monthly NASDAQ-100 Bull 1.25X Fund	0.80%	2.31%	0.17%	0.00%	0.00%	7.43%	12.20%	0.00%	8.79%	7.52%
MQQQ Tradr 2X Long Triple Q Monthly ETF	1.45%	2.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MQQQ and DXNLX in my portfolio?

With a correlation of 1.00, MQQQ and DXNLX 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, MQQQ or DXNLX?

MQQQ has higher volatility (8.50%) compared to DXNLX (5.57%). In terms of maximum drawdown, MQQQ dropped -42.16% vs DXNLX's -43.77%.

Which has better risk-adjusted returns?

MQQQ currently has the higher Sharpe Ratio (2.60 vs 2.59), 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.