QLD vs. ERX
Compare and contrast key facts about ProShares Ultra QQQ (QLD) and Direxion Daily Energy Bull 2X Shares (ERX).
QLD and ERX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006. ERX is a passively managed fund by Direxion that tracks the performance of the Energy Select Sector Index (300%). It was launched on Apr 1, 2020. Both QLD and ERX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QLD vs. ERX - Performance Comparison
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QLD vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | -11.23% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
ERX Direxion Daily Energy Bull 2X Shares | 71.72% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 17.13% | -55.94% | -11.60% |
Returns By Period
In the year-to-date period, QLD achieves a -11.23% return, which is significantly lower than ERX's 71.72% return. Over the past 10 years, QLD has outperformed ERX with an annualized return of 29.71%, while ERX has yielded a comparatively lower -6.32% annualized return.
QLD
- 1D
- 2.44%
- 1M
- -8.26%
- YTD
- -11.23%
- 6M
- -9.73%
- 1Y
- 38.72%
- 3Y*
- 36.50%
- 5Y*
- 15.83%
- 10Y*
- 29.71%
ERX
- 1D
- -7.39%
- 1M
- 7.35%
- YTD
- 71.72%
- 6M
- 71.12%
- 1Y
- 48.19%
- 3Y*
- 21.00%
- 5Y*
- 34.47%
- 10Y*
- -6.32%
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QLD vs. ERX - Expense Ratio Comparison
QLD has a 0.95% expense ratio, which is lower than ERX's 1.09% expense ratio.
Return for Risk
QLD vs. ERX — Risk / Return Rank
QLD
ERX
QLD vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) and Direxion Daily Energy Bull 2X Shares (ERX). 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.
| QLD | ERX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.87 | 0.97 | -0.10 |
Sortino ratioReturn per unit of downside risk | 1.46 | 1.42 | +0.05 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.41 | +0.22 |
Martin ratioReturn relative to average drawdown | 5.27 | 2.87 | +2.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QLD | ERX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.97 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.66 | -0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | -0.09 | +0.76 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | -0.09 | +0.62 |
Correlation
The correlation between QLD and ERX is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
QLD vs. ERX - Dividend Comparison
QLD's dividend yield for the trailing twelve months is around 0.19%, less than ERX's 1.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 0.19% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
ERX Direxion Daily Energy Bull 2X Shares | 1.56% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% | 0.00% | 0.00% |
Drawdowns
QLD vs. ERX - Drawdown Comparison
The maximum QLD drawdown since its inception was -83.13%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for QLD and ERX.
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Drawdown Indicators
| QLD | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.13% | -99.54% | +16.41% |
Max Drawdown (1Y)Largest decline over 1 year | -25.13% | -35.17% | +10.04% |
Max Drawdown (5Y)Largest decline over 5 years | -63.68% | -46.90% | -16.78% |
Max Drawdown (10Y)Largest decline over 10 years | -63.68% | -98.59% | +34.91% |
Current DrawdownCurrent decline from peak | -18.15% | -91.33% | +73.18% |
Average DrawdownAverage peak-to-trough decline | -18.30% | -66.78% | +48.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 17.26% | -9.51% |
Volatility
QLD vs. ERX - Volatility Comparison
ProShares Ultra QQQ (QLD) and Direxion Daily Energy Bull 2X Shares (ERX) have volatilities of 13.16% and 13.01%, 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
| QLD | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.16% | 13.01% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 25.67% | 29.14% | -3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.97% | 50.15% | -5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.76% | 52.18% | -7.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.47% | 69.25% | -24.78% |