MSFU vs. TQQQ
MSFU (Direxion Daily MSFT Bull 2X Shares) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds - MSFU tracks the Microsoft Corporation (150%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 3 years, MSFU returned -10.09%/yr vs 63.58%/yr for TQQQ. A 0.72 correlation means they provide meaningful diversification when combined. MSFU charges 1.04%/yr vs 0.95%/yr for TQQQ.
Performance
MSFU vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, MSFU achieves a -47.25% return, which is significantly lower than TQQQ's 56.90% return.
MSFU
- 1D
- -6.29%
- 1M
- -24.51%
- YTD
- -47.25%
- 6M
- -47.70%
- 1Y
- -49.25%
- 3Y*
- -10.09%
- 5Y*
- —
- 10Y*
- —
TQQQ
- 1D
- -0.35%
- 1M
- 6.09%
- YTD
- 56.90%
- 6M
- 52.71%
- 1Y
- 129.55%
- 3Y*
- 63.58%
- 5Y*
- 24.47%
- 10Y*
- 47.00%
MSFU vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSFU Direxion Daily MSFT Bull 2X Shares | -47.25% | 13.36% | 5.80% | 83.04% | -13.28% |
TQQQ ProShares UltraPro QQQ | 56.90% | 34.35% | 58.27% | 198.04% | -33.30% |
Correlation
The correlation between MSFU and TQQQ is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | 0.72 |
Over the past year, the correlation between MSFU and TQQQ has dropped to 0.49 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.
MSFU vs. TQQQ - Sectors Allocation Comparison
Sectors
MSFU
TQQQ
Technology
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Financial Services
-
Healthcare
-
Industrials
-
Real Estate
-
Utilities
-
Technology
MSFU
TQQQ
Basic Materials
MSFU
-
TQQQ
Communication Services
MSFU
-
TQQQ
Consumer Cyclical
MSFU
-
TQQQ
Consumer Defensive
MSFU
-
TQQQ
Energy
MSFU
-
TQQQ
Financial Services
MSFU
-
TQQQ
Healthcare
MSFU
-
TQQQ
Industrials
MSFU
-
TQQQ
Real Estate
MSFU
-
TQQQ
Utilities
MSFU
-
TQQQ
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Return for Risk
MSFU vs. TQQQ — Risk / Return Rank
MSFU
TQQQ
MSFU vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bull 2X Shares (MSFU) 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.
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.
| MSFU | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.44 | ||
| Sortino ratioReturn per unit of downside risk | -4.06 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.36 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 3.53 | -4.35 |
| Martin ratioReturn relative to average drawdown | -1.49 | 11.25 | -12.75 |
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Drawdowns
MSFU vs. TQQQ - Drawdown Comparison
The maximum MSFU drawdown since its inception was -59.83%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for MSFU and TQQQ.
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Drawdown Indicators
| MSFU | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.83% | -81.66% | +21.83% |
Max Drawdown (1Y)Largest decline over 1 year | -59.83% | -36.97% | -22.86% |
Max Drawdown (3Y)Largest decline over 3 years | -59.83% | -58.04% | -1.79% |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -59.17% | -5.32% | -53.85% |
Average DrawdownAverage peak-to-trough decline | -16.94% | -18.50% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.98% | 11.56% | +21.42% |
Volatility
MSFU vs. TQQQ - Volatility Comparison
The current volatility for Direxion Daily MSFT Bull 2X Shares (MSFU) is 22.08%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 25.07%. This indicates that MSFU experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFU | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.08% | 25.07% | -2.99% |
Volatility (6M)Calculated over the trailing 6-month period | 46.50% | 42.17% | +4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.94% | 52.51% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.60% | 67.26% | -20.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.60% | 66.36% | -19.76% |
MSFU vs. TQQQ - Expense Ratio Comparison
MSFU has a 1.04% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Dividends
MSFU vs. TQQQ - Dividend Comparison
MSFU's dividend yield for the trailing twelve months is around 15.00%, more than TQQQ's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSFU Direxion Daily MSFT Bull 2X Shares | 15.00% | 8.15% | 7.00% | 2.11% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.38% | 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
MSFU and TQQQ have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (25.07%) compared to MSFU (22.08%). In terms of maximum drawdown, MSFU dropped -59.83% vs TQQQ's -81.66%.
On 3-year performance, TQQQ leads with 63.58% vs -10.09% for MSFU. On fees, TQQQ is cheaper at 0.95% per year. On volatility, MSFU has been the lower-risk option at 22.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TQQQ has performed better with a 63.58% return vs -10.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TQQQ is cheaper with a 0.95% expense ratio, compared with 1.04% for MSFU.
MSFU has the higher dividend yield at 15.00%, compared with 0.38% for TQQQ.
MSFU tracks Microsoft Corporation (150%), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.04% for MSFU and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (2.49 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.
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