QQQE vs. TMF
QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index, while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). Both are passively managed. Over the past 10 years, QQQE returned 15.78%/yr vs -16.47%/yr for TMF. At a correlation of -0.13, they often move in opposite directions. QQQE charges 0.35%/yr vs 1.01%/yr for TMF.
Performance
QQQE vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, QQQE achieves a 16.37% return, which is significantly higher than TMF's 0.08% return. Over the past 10 years, QQQE has outperformed TMF with an annualized return of 15.78%, while TMF has yielded a comparatively lower -16.47% annualized return.
QQQE
- 1D
- -0.05%
- 1M
- 1.92%
- YTD
- 16.37%
- 6M
- 14.73%
- 1Y
- 22.98%
- 3Y*
- 17.59%
- 5Y*
- 9.05%
- 10Y*
- 15.78%
TMF
- 1D
- 3.90%
- 1M
- 10.18%
- YTD
- 0.08%
- 6M
- -2.86%
- 1Y
- -0.04%
- 3Y*
- -19.78%
- 5Y*
- -30.25%
- 10Y*
- -16.47%
QQQE vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 16.37% | 14.58% | 6.98% | 33.76% | -24.47% | 17.93% | 37.85% | 36.43% | -5.40% | 26.53% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 0.08% | -2.94% | -35.95% | -13.01% | -72.60% | -19.80% | 39.02% | 34.75% | -11.01% | 22.72% |
Correlation
The correlation between QQQE and TMF is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2012 | -0.13 |
The correlation between QQQE and TMF shifts across timeframes, from -0.13 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QQQE vs. TMF — Risk / Return Rank
QQQE
TMF
QQQE vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF). 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.
| QQQE | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.02 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | -0.00 | +2.46 |
| Martin ratioReturn relative to average drawdown | 8.22 | -0.00 | +8.22 |
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Drawdowns
QQQE vs. TMF - Drawdown Comparison
The maximum QQQE drawdown since its inception was -32.14%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for QQQE and TMF.
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Drawdown Indicators
| QQQE | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.14% | -92.89% | +60.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -26.51% | +17.10% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -56.09% | +34.71% |
Max Drawdown (5Y)Largest decline over 5 years | -32.14% | -88.81% | +56.67% |
Max Drawdown (10Y)Largest decline over 10 years | -32.14% | -92.89% | +60.75% |
Current DrawdownCurrent decline from peak | -3.14% | -91.71% | +88.57% |
Average DrawdownAverage peak-to-trough decline | -5.15% | -43.78% | +38.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 12.28% | -9.48% |
Volatility
QQQE vs. TMF - Volatility Comparison
Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has a higher volatility of 8.01% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.26%. This indicates that QQQE's price experiences larger fluctuations and is considered to be riskier than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQE | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.01% | 7.26% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 12.69% | 19.68% | -6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.65% | 28.15% | -12.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.54% | 46.63% | -26.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 43.87% | -23.08% |
QQQE vs. TMF - Expense Ratio Comparison
QQQE has a 0.35% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
QQQE vs. TMF - Dividend Comparison
QQQE's dividend yield for the trailing twelve months is around 0.57%, less than TMF's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.57% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 3.95% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% | 0.00% | 0.00% |
Frequently Asked Questions
QQQE and TMF have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQE has higher volatility (8.01%) compared to TMF (7.26%). In terms of maximum drawdown, QQQE dropped -32.14% vs TMF's -92.89%.
On 10-year performance, QQQE leads with 15.78% vs -16.47% for TMF. On fees, QQQE is cheaper at 0.35% per year. On volatility, TMF has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQE has performed better with a 15.78% return vs -16.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 3.95%, compared with 0.57% for QQQE.
QQQE is categorized as Nasdaq-100, while TMF is Leveraged Bonds. QQQE tracks NASDAQ-100 Equal Weighted Index, while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 0.35% for QQQE and 1.01% for TMF.
QQQE currently has the higher Sharpe Ratio (1.48 vs -0.00), 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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