MSFX vs. TQQQ

Last updated Jun 23, 2026

MSFX (T-Rex 2X Long Microsoft Daily Target ETF) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds. MSFX is actively managed, while TQQQ is passively managed. Over the past year, MSFX returned -50.92% vs 129.55% for TQQQ. A 0.65 correlation means they provide meaningful diversification when combined. MSFX charges 1.05%/yr vs 0.95%/yr for TQQQ.

Performance

MSFX vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Microsoft Daily Target ETF (MSFX) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFX achieves a -47.64% return, which is significantly lower than TQQQ's 56.90% return.

MSFX

• 1D: -6.41%
• 1M: -24.51%
• YTD: -47.64%
• 6M: -49.12%
• 1Y: -50.92%
• 3Y*: —
• 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%

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

MSFX vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFX T-Rex 2X Long Microsoft Daily Target ETF	-47.64%	9.84%	3.03%
TQQQ ProShares UltraPro QQQ	56.90%	34.35%	60.36%

Correlation

The correlation between MSFX 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 (All Time) Calculated using the full available price history since Jan 11, 2024	0.65

The correlation between MSFX and TQQQ shifts across timeframes, from 0.49 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MSFX vs. TQQQ — Risk / Return Rank

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

MSFX

MSFX Risk / Return Rank: 1
MSFX Sharpe Ratio Rank: 1
MSFX Sortino Ratio Rank: 2
MSFX Omega Ratio Rank: 1
MSFX Calmar Ratio Rank: 2
MSFX Martin Ratio Rank: 1

TQQQ

TQQQ Risk / Return Rank: 68
TQQQ Sharpe Ratio Rank: 81
TQQQ Sortino Ratio Rank: 59
TQQQ Omega Ratio Rank: 63
TQQQ Calmar Ratio Rank: 72
TQQQ Martin Ratio Rank: 64

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.

MSFX vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Microsoft Daily Target ETF (MSFX) 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.

	MSFX	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	2.49	-3.47
Sortino ratio: Return per unit of downside risk	-1.41	2.72	-4.13
Omega ratio: Gain probability vs. loss probability	0.82	1.36	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.84	3.53	-4.36
Martin ratio: Return relative to average drawdown	-1.50	11.25	-12.76

MSFX vs. TQQQ - Sharpe Ratio Comparison

The current MSFX Sharpe Ratio is -0.98, which is lower than the TQQQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of MSFX and TQQQ, 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

MSFX vs. TQQQ - Drawdown Comparison

The maximum MSFX drawdown since its inception was -60.86%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for MSFX and TQQQ.

Drawdown Indicators

	MSFX	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-60.86%	-81.66%	+20.80%
Max Drawdown (1Y) Largest decline over 1 year	-60.86%	-36.97%	-23.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-58.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-60.36%	-5.32%	-55.04%
Average Drawdown Average peak-to-trough decline	-21.84%	-18.50%	-3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.88%	11.56%	+22.32%

Volatility

MSFX vs. TQQQ - Volatility Comparison

The current volatility for T-Rex 2X Long Microsoft Daily Target ETF (MSFX) is 22.23%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 25.07%. This indicates that MSFX 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.

Volatility by Period

	MSFX	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.23%	25.07%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	46.52%	42.17%	+4.35%
Volatility (1Y) Calculated over the trailing 1-year period	52.28%	52.51%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.69%	67.26%	-17.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.69%	66.36%	-16.67%

MSFX vs. TQQQ - Expense Ratio Comparison

MSFX has a 1.05% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

MSFX vs. TQQQ - Dividend Comparison

MSFX's dividend yield for the trailing twelve months is around 10.20%, more than TQQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSFX T-Rex 2X Long Microsoft Daily Target ETF	10.20%	5.34%	0.00%	0.00%	0.00%	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

Can I hold both MSFX and TQQQ in my portfolio?

MSFX 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.

Which is riskier, MSFX or TQQQ?

TQQQ has higher volatility (25.07%) compared to MSFX (22.23%). In terms of maximum drawdown, MSFX dropped -60.86% vs TQQQ's -81.66%.

Which ETF is better, MSFX or TQQQ?

On 1-year performance, TQQQ leads with 129.55% vs -50.92% for MSFX. On fees, TQQQ is cheaper at 0.95% per year. On volatility, MSFX has been the lower-risk option at 22.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFX or TQQQ?

Over the 1-year period, TQQQ has performed better with a 129.55% return vs -50.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFX or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 1.05% for MSFX.

Which ETF pays a higher dividend yield, MSFX or TQQQ?

MSFX has the higher dividend yield at 10.20%, compared with 0.38% for TQQQ.

What is the main difference between MSFX and TQQQ?

They also come from different issuers: T-Rex and ProShares. Their fees differ too: 1.05% for MSFX and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.49 vs -0.98), 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.