QQQE vs. TQQQ
Compare and contrast key facts about Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and ProShares UltraPro QQQ (TQQQ).
QQQE and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQE is a passively managed fund by Direxion that tracks the performance of the NASDAQ-100 Equal Weighted Index. It was launched on Mar 21, 2012. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both QQQE and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QQQE or TQQQ.
Key characteristics
| QQQE | TQQQ | |
|---|---|---|
| YTD Return | 6.73% | 40.08% |
| 1Y Return | 21.17% | 89.82% |
| 3Y Return (Ann) | 2.09% | -5.25% |
| 5Y Return (Ann) | 13.17% | 32.27% |
| 10Y Return (Ann) | 12.59% | 34.23% |
| Sharpe Ratio | 1.59 | 1.88 |
| Sortino Ratio | 2.22 | 2.28 |
| Omega Ratio | 1.28 | 1.31 |
| Calmar Ratio | 1.70 | 1.70 |
| Martin Ratio | 7.80 | 7.81 |
| Ulcer Index | 2.98% | 12.36% |
| Daily Std Dev | 14.57% | 51.35% |
| Max Drawdown | -32.14% | -81.66% |
| Current Drawdown | -2.99% | -18.03% |
Correlation
The correlation between QQQE and TQQQ is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
QQQE vs. TQQQ - Performance Comparison
In the year-to-date period, QQQE achieves a 6.73% return, which is significantly lower than TQQQ's 40.08% return. Over the past 10 years, QQQE has underperformed TQQQ with an annualized return of 12.59%, while TQQQ has yielded a comparatively higher 34.23% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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QQQE vs. TQQQ - Expense Ratio Comparison
QQQE has a 0.35% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Risk-Adjusted Performance
QQQE vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and ProShares UltraPro QQQ (TQQQ). 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.
Dividends
QQQE vs. TQQQ - Dividend Comparison
QQQE's dividend yield for the trailing twelve months is around 0.86%, less than TQQQ's 1.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.75% | 1.36% | 0.38% |
TQQQ ProShares UltraPro QQQ | 1.35% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% | 0.00% |
Drawdowns
QQQE vs. TQQQ - Drawdown Comparison
The maximum QQQE drawdown since its inception was -32.14%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for QQQE and TQQQ. For additional features, visit the drawdowns tool.
Volatility
QQQE vs. TQQQ - Volatility Comparison
The current volatility for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is 3.72%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.46%. This indicates that QQQE experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.