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PILL vs. QLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PILL vs. QLD

Last updated Jun 24, 2026

PILL (Direxion Daily Pharmaceutical & Medical Bull 3X Shares) and QLD (ProShares Ultra QQQ) are both Leveraged Equities funds - PILL tracks the Dynamic Pharmaceuticals Intellidex Index while QLD tracks the NASDAQ-100 Index (200%). Both are passively managed. Over the past 5 years, PILL returned -7.89%/yr vs 21.41%/yr for QLD. A 0.54 correlation means they provide meaningful diversification when combined. PILL charges 0.98%/yr vs 0.95%/yr for QLD.

Performance

PILL vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PILL achieves a 26.72% return, which is significantly lower than QLD's 29.58% return.

PILL

1D
5.13%
1M
27.73%
YTD
26.72%
6M
23.80%
1Y
194.90%
3Y*
24.44%
5Y*
-7.89%
10Y*
—

QLD

1D
-6.61%
1M
-2.02%
YTD
29.58%
6M
26.13%
1Y
66.80%
3Y*
43.61%
5Y*
21.41%
10Y*
36.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PILL vs. QLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PILL
Direxion Daily Pharmaceutical & Medical Bull 3X Shares		26.72%75.14%-7.26%-12.06%-43.16%-37.33%0.28%19.26%-21.15%16.39%
QLD
ProShares Ultra QQQ		29.58%30.36%42.82%117.72%-60.52%54.67%88.90%81.69%-8.31%3.14%

Correlation

The correlation between PILL and QLD is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.52

Correlation (All Time)
Calculated using the full available price history since Nov 15, 2017

0.54

The correlation between PILL and QLD shifts across timeframes, from 0.35 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

PILL vs. QLD - Sectors Allocation Comparison

Sectors
PILL
QLD

Healthcare

100.0%
3.7%

Basic Materials

-

1.0%

Communication Services

-

14.3%

Consumer Cyclical

-

11.4%

Consumer Defensive

-

6.4%

Energy

-

0.5%

Financial Services

-

0.2%

Industrials

-

2.6%

Real Estate

-

0.1%

Technology

-

58.7%

Utilities

-

1.2%

Healthcare

PILL
100.0%
QLD
3.7%

Basic Materials

PILL

-

QLD
1.0%

Communication Services

PILL

-

QLD
14.3%

Consumer Cyclical

PILL

-

QLD
11.4%

Consumer Defensive

PILL

-

QLD
6.4%

Energy

PILL

-

QLD
0.5%

Financial Services

PILL

-

QLD
0.2%

Industrials

PILL

-

QLD
2.6%

Real Estate

PILL

-

QLD
0.1%

Technology

PILL

-

QLD
58.7%

Utilities

PILL

-

QLD
1.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily Pharmaceutical & Medical Bull 3X Shares

ProShares Ultra QQQ

Often compared with PILL:
PILL vs. CUREPILL vs. BNKUPILL vs. KUREPILL vs. IHEPILL vs. XHBPILL vs. SPXLPILL vs. VOO
Often compared with QLD:
QLD vs. QQQQLD vs. TQQQQLD vs. SSOQLD vs. QQQMQLD vs. UPROQLD vs. VOOQLD vs. SPY

Return for Risk

PILL vs. QLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PILL
PILL Risk / Return Rank: 8686
Overall Rank
PILL Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
PILL Sortino Ratio Rank: 8080
Sortino Ratio Rank
PILL Omega Ratio Rank: 7272
Omega Ratio Rank
PILL Calmar Ratio Rank: 9292
Calmar Ratio Rank
PILL Martin Ratio Rank: 9090
Martin Ratio Rank
QLD
QLD Risk / Return Rank: 5353
Overall Rank
QLD Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
QLD Sortino Ratio Rank: 4949
Sortino Ratio Rank
QLD Omega Ratio Rank: 5151
Omega Ratio Rank
QLD Calmar Ratio Rank: 5656
Calmar Ratio Rank
QLD Martin Ratio Rank: 5454
Martin Ratio Rank
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.

PILL vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) and ProShares Ultra QQQ (QLD). 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.

PILLQLDDifference
Sharpe ratioReturn per unit of total volatility
3.14
1.88

+1.26

Sortino ratioReturn per unit of downside risk
3.27
2.33

+0.93

Omega ratioGain probability vs. loss probability

1.40

1.31

+0.08

Calmar ratioReturn relative to maximum drawdown

5.91

2.67

+3.23

Martin ratioReturn relative to average drawdown

19.45

9.05

+10.40

PILL vs. QLD - Sharpe Ratio Comparison

The current PILL Sharpe Ratio is 3.14, which is higher than the QLD Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of PILL and QLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PILL vs. QLD - Drawdown Comparison

The maximum PILL drawdown since its inception was -88.76%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for PILL and QLD.

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Drawdown Indicators

PILLQLDDifference

Max Drawdown

Largest peak-to-trough decline

-88.76%

-83.13%

-5.63%

Max Drawdown (1Y)

Largest decline over 1 year

-33.21%

-25.13%

-8.08%

Max Drawdown (3Y)

Largest decline over 3 years

-60.43%

-42.29%

-18.14%

Max Drawdown (5Y)

Largest decline over 5 years

-83.26%

-63.68%

-19.58%

Max Drawdown (10Y)

Largest decline over 10 years

—

-63.68%

—

Current Drawdown

Current decline from peak

-56.58%

-9.26%

-47.32%

Average Drawdown

Average peak-to-trough decline

-58.54%

-18.14%

-40.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.07%

7.40%

+2.67%

Volatility

PILL vs. QLD - Volatility Comparison

Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) and ProShares Ultra QQQ (QLD) have volatilities of 18.07% and 18.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PILLQLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

18.07%

18.22%

-0.15%

Volatility (6M)

Calculated over the trailing 6-month period

48.23%

28.95%

+19.28%

Volatility (1Y)

Calculated over the trailing 1-year period

62.55%

35.77%

+26.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

60.62%

45.34%

+15.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

63.79%

44.80%

+18.99%

PILL vs. QLD - Expense Ratio Comparison

PILL has a 0.98% expense ratio, which is higher than QLD's 0.95% expense ratio.

Dividends

PILL vs. QLD - Dividend Comparison

PILL's dividend yield for the trailing twelve months is around 0.49%, more than QLD's 0.13% yield.

PositionTTM20252024202320222021202020192018201720162015
PILL
Direxion Daily Pharmaceutical & Medical Bull 3X Shares		0.49%0.69%1.28%1.83%0.67%0.00%0.00%0.38%0.91%0.10%0.00%0.00%
QLD
ProShares Ultra QQQ		0.13%0.17%0.25%0.33%0.31%0.00%0.00%0.13%0.06%0.02%0.21%0.11%

Frequently Asked Questions

PILL and QLD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QLD has higher volatility (18.22%) compared to PILL (18.07%). In terms of maximum drawdown, PILL dropped -88.76% vs QLD's -83.13%.

On 5-year performance, QLD leads with 21.41% vs -7.89% for PILL. On fees, QLD is cheaper at 0.95% per year. On volatility, PILL has been the lower-risk option at 18.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QLD has performed better with a 21.41% return vs -7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QLD is cheaper with a 0.95% expense ratio, compared with 0.98% for PILL.

PILL has the higher dividend yield at 0.49%, compared with 0.13% for QLD.

PILL tracks Dynamic Pharmaceuticals Intellidex Index, while QLD tracks NASDAQ-100 Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.98% for PILL and 0.95% for QLD.

PILL currently has the higher Sharpe Ratio (3.14 vs 1.88), 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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