QQQ3.L vs. TFRN.L
QQQ3.L (WisdomTree NASDAQ 100 3x Daily Leveraged) and TFRN.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc) are both exchange-traded funds - QQQ3.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index (300%), while TFRN.L is a Government Bonds fund tracking the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, QQQ3.L returned 20.36%/yr vs 3.65%/yr for TFRN.L. At a 0.03 correlation, their price movements are largely independent. QQQ3.L charges 0.75%/yr vs 0.15%/yr for TFRN.L.
Performance
QQQ3.L vs. TFRN.L - Performance Comparison
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Returns By Period
In the year-to-date period, QQQ3.L achieves a 36.54% return, which is significantly higher than TFRN.L's 1.82% return.
QQQ3.L
- 1D
- -2.27%
- 1M
- -8.95%
- YTD
- 36.54%
- 6M
- 33.59%
- 1Y
- 84.50%
- 3Y*
- 55.47%
- 5Y*
- 20.36%
- 10Y*
- 46.81%
TFRN.L
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.75%
- 1Y
- 4.02%
- 3Y*
- 4.68%
- 5Y*
- 3.65%
- 10Y*
- —
QQQ3.L vs. TFRN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QQQ3.L WisdomTree NASDAQ 100 3x Daily Leveraged | 36.54% | 27.63% | 59.91% | 209.50% | -79.58% | 87.37% | 131.34% | 52.69% |
TFRN.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc | 1.82% | 4.10% | 5.44% | 4.94% | 2.04% | -0.15% | 0.57% | 1.59% |
Correlation
The correlation between QQQ3.L and TFRN.L is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | 0.03 |
The correlation between QQQ3.L and TFRN.L shifts across timeframes, from -0.06 (1 year) to 0.06 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
QQQ3.L vs. TFRN.L — Risk / Return Rank
QQQ3.L
TFRN.L
QQQ3.L vs. TFRN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree NASDAQ 100 3x Daily Leveraged (QQQ3.L) and WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L). 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.
| QQQ3.L | TFRN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.63 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 4.10 | -1.76 |
| Martin ratioReturn relative to average drawdown | 7.13 | 35.75 | -28.61 |
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Drawdowns
QQQ3.L vs. TFRN.L - Drawdown Comparison
The maximum QQQ3.L drawdown since its inception was -81.35%, which is greater than TFRN.L's maximum drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for QQQ3.L and TFRN.L.
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Drawdown Indicators
| QQQ3.L | TFRN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.35% | -3.10% | -78.25% |
Max Drawdown (1Y)Largest decline over 1 year | -35.92% | -0.98% | -34.94% |
Max Drawdown (3Y)Largest decline over 3 years | -58.20% | -0.98% | -57.22% |
Max Drawdown (5Y)Largest decline over 5 years | -81.35% | -0.98% | -80.37% |
Max Drawdown (10Y)Largest decline over 10 years | -81.35% | — | — |
Current DrawdownCurrent decline from peak | -14.68% | 0.00% | -14.68% |
Average DrawdownAverage peak-to-trough decline | -19.05% | -0.09% | -18.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.81% | 0.11% | +11.70% |
Volatility
QQQ3.L vs. TFRN.L - Volatility Comparison
WisdomTree NASDAQ 100 3x Daily Leveraged (QQQ3.L) has a higher volatility of 19.57% compared to WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) at 0.14%. This indicates that QQQ3.L's price experiences larger fluctuations and is considered to be riskier than TFRN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQ3.L | TFRN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.57% | 0.14% | +19.43% |
Volatility (6M)Calculated over the trailing 6-month period | 38.86% | 0.91% | +37.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.67% | 1.92% | +47.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.70% | 1.51% | +61.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.19% | 1.88% | +58.31% |
QQQ3.L vs. TFRN.L - Expense Ratio Comparison
QQQ3.L has a 0.75% expense ratio, which is higher than TFRN.L's 0.15% expense ratio.
Dividends
QQQ3.L vs. TFRN.L - Dividend Comparison
Neither QQQ3.L nor TFRN.L has paid dividends to shareholders.
Frequently Asked Questions
QQQ3.L and TFRN.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TFRN.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TFRN.L is cheaper with a 0.15% expense ratio, compared with 0.75% for QQQ3.L.
QQQ3.L is categorized as Nasdaq-100, while TFRN.L is Government Bonds. QQQ3.L tracks NASDAQ-100 Index (300%), while TFRN.L tracks Bloomberg US Treasury Floating Rate Bond Index. Their fees differ too: 0.75% for QQQ3.L and 0.15% for TFRN.L.
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