QQHG vs. ERX

Last updated Jun 4, 2026

QQHG (Invesco QQQ Hedged Advantage ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - QQHG is a Equity Hedged fund actively managed by Invesco, while ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%). QQHG is actively managed, while ERX is passively managed. Over the past year, QQHG returned 26.43% vs 90.37% for ERX. At a correlation of -0.10, they often move in opposite directions. QQHG charges 0.45%/yr vs 1.09%/yr for ERX.

Performance

QQHG vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Hedged Advantage ETF (QQHG) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQHG achieves a 11.43% return, which is significantly lower than ERX's 66.93% return.

QQHG

• 1D: -0.26%
• 1M: 4.73%
• YTD: 11.43%
• 6M: 10.75%
• 1Y: 26.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ERX

• 1D: 2.68%
• 1M: -3.38%
• YTD: 66.93%
• 6M: 59.74%
• 1Y: 90.37%
• 3Y*: 23.69%
• 5Y*: 28.75%
• 10Y*: -8.79%

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

QQHG vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025
QQHG Invesco QQQ Hedged Advantage ETF	11.43%	20.59%
ERX Direxion Daily Energy Bull 2X Shares	66.93%	21.94%

Correlation

The correlation between QQHG and ERX is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (All Time) Calculated using the full available price history since May 8, 2025	-0.10

Return for Risk

QQHG vs. ERX — Risk / Return Rank

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

QQHG

QQHG Risk / Return Rank: 84
QQHG Sharpe Ratio Rank: 85
QQHG Sortino Ratio Rank: 86
QQHG Omega Ratio Rank: 83
QQHG Calmar Ratio Rank: 82
QQHG Martin Ratio Rank: 83

ERX

ERX Risk / Return Rank: 61
ERX Sharpe Ratio Rank: 65
ERX Sortino Ratio Rank: 53
ERX Omega Ratio Rank: 51
ERX Calmar Ratio Rank: 76
ERX 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.

QQHG vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Hedged Advantage ETF (QQHG) 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.

	QQHG	ERX	Difference
Sharpe ratio: Return per unit of total volatility	2.82	2.21	+0.61
Sortino ratio: Return per unit of downside risk	3.92	2.62	+1.30
Omega ratio: Gain probability vs. loss probability	1.51	1.32	+0.19
Calmar ratio: Return relative to maximum drawdown	4.30	3.89	+0.40
Martin ratio: Return relative to average drawdown	17.07	10.60	+6.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQHG vs. ERX - Sharpe Ratio Comparison

The current QQHG Sharpe Ratio is 2.82, which is comparable to the ERX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of QQHG and ERX, 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

	QQHG	ERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	2.21	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.56	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.35	-0.09	+3.44

Drawdowns

QQHG vs. ERX - Drawdown Comparison

The maximum QQHG drawdown since its inception was -6.18%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for QQHG and ERX.

Drawdown Indicators

	QQHG	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-6.18%	-99.54%	+93.36%
Max Drawdown (1Y) Largest decline over 1 year	-6.18%	-23.34%	+17.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-42.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-0.26%	-91.57%	+91.31%
Average Drawdown Average peak-to-trough decline	-0.97%	-67.02%	+66.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	8.57%	-7.02%

Volatility

QQHG vs. ERX - Volatility Comparison

The current volatility for Invesco QQQ Hedged Advantage ETF (QQHG) is 2.12%, while Direxion Daily Energy Bull 2X Shares (ERX) has a volatility of 16.49%. This indicates that QQHG experiences smaller price fluctuations and is considered to be less risky than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQHG	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	16.49%	-14.37%
Volatility (6M) Calculated over the trailing 6-month period	6.66%	33.45%	-26.79%
Volatility (1Y) Calculated over the trailing 1-year period	9.47%	41.14%	-31.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.53%	51.98%	-42.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.53%	69.18%	-59.65%

QQHG vs. ERX - Expense Ratio Comparison

QQHG has a 0.45% expense ratio, which is lower than ERX's 1.09% expense ratio.

Dividends

QQHG vs. ERX - Dividend Comparison

QQHG's dividend yield for the trailing twelve months is around 0.20%, less than ERX's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERX Direxion Daily Energy Bull 2X Shares	1.61%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%
QQHG Invesco QQQ Hedged Advantage ETF	0.20%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQHG and ERX in my portfolio?

QQHG and ERX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQHG or ERX?

ERX has higher volatility (16.49%) compared to QQHG (2.12%). In terms of maximum drawdown, QQHG dropped -6.18% vs ERX's -99.54%.

Which ETF is better, QQHG or ERX?

On 1-year performance, ERX leads with 90.37% vs 26.43% for QQHG. On fees, QQHG is cheaper at 0.45% per year. On volatility, QQHG has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQHG or ERX?

Over the 1-year period, ERX has performed better with a 90.37% return vs 26.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQHG or ERX?

QQHG is cheaper with a 0.45% expense ratio, compared with 1.09% for ERX.

Which ETF pays a higher dividend yield, QQHG or ERX?

ERX has the higher dividend yield at 1.61%, compared with 0.20% for QQHG.

What is the main difference between QQHG and ERX?

QQHG is categorized as Equity Hedged, while ERX is Leveraged Equities. They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.45% for QQHG and 1.09% for ERX.

Which has better risk-adjusted returns?

QQHG currently has the higher Sharpe Ratio (2.82 vs 2.21), 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.