QQQU vs. FNGU

Last updated Jun 24, 2026

QQQU (Direxion Daily Magnificent 7 Bull 2X Shares) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both Leveraged Equities funds - QQQU tracks the Indxx Magnificent 7 Index (200%) while FNGU tracks the NYSE FANG+ Index (Gross Total Return) (300%). Both are passively managed. Over the past year, QQQU returned 31.23% vs 17.53% for FNGU. Their correlation of 0.84 suggests significant overlap in exposure. QQQU charges 0.98%/yr vs 2.60%/yr for FNGU.

Performance

QQQU vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQU achieves a -11.91% return, which is significantly lower than FNGU's -0.99% return.

QQQU

• 1D: -2.93%
• 1M: -17.71%
• YTD: -11.91%
• 6M: -14.75%
• 1Y: 31.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNGU

• 1D: -7.64%
• 1M: -12.95%
• YTD: -0.99%
• 6M: -5.84%
• 1Y: 17.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQU vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	-11.91%	31.29%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	-0.99%	3.02%

Correlation

The correlation between QQQU and FNGU is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.84

The correlation between QQQU and FNGU has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

QQQU vs. FNGU - Sectors Allocation Comparison

Sectors	QQQU	FNGU
Technology	43.3%	60.6%
Consumer Cyclical	29.1%	9.6%
Communication Services	27.6%	29.8%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

QQQU vs. FNGU — Risk / Return Rank

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

QQQU

QQQU Risk / Return Rank: 22
QQQU Sharpe Ratio Rank: 22
QQQU Sortino Ratio Rank: 23
QQQU Omega Ratio Rank: 22
QQQU Calmar Ratio Rank: 20
QQQU Martin Ratio Rank: 22

FNGU

FNGU Risk / Return Rank: 13
FNGU Sharpe Ratio Rank: 12
FNGU Sortino Ratio Rank: 16
FNGU Omega Ratio Rank: 16
FNGU Calmar Ratio Rank: 12
FNGU Martin Ratio Rank: 12

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.

QQQU vs. FNGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). 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.

	QQQU	FNGU	Difference
Sharpe ratio: Return per unit of total volatility	0.76	0.27	+0.49
Sortino ratio: Return per unit of downside risk	1.23	0.81	+0.42
Omega ratio: Gain probability vs. loss probability	1.15	1.10	+0.05
Calmar ratio: Return relative to maximum drawdown	0.86	0.30	+0.57
Martin ratio: Return relative to average drawdown	2.58	0.70	+1.88

QQQU vs. FNGU - Sharpe Ratio Comparison

The current QQQU Sharpe Ratio is 0.76, which is higher than the FNGU Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of QQQU and FNGU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QQQU vs. FNGU - Drawdown Comparison

The maximum QQQU drawdown since its inception was -53.70%, smaller than the maximum FNGU drawdown of -61.30%. Use the drawdown chart below to compare losses from any high point for QQQU and FNGU.

Drawdown Indicators

	QQQU	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-53.70%	-61.30%	+7.60%
Max Drawdown (1Y) Largest decline over 1 year	-36.29%	-59.55%	+23.26%
Current Drawdown Current decline from peak	-21.31%	-30.82%	+9.51%
Average Drawdown Average peak-to-trough decline	-13.35%	-22.27%	+8.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.12%	25.17%	-13.05%

Volatility

QQQU vs. FNGU - Volatility Comparison

The current volatility for Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) is 14.57%, while MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a volatility of 33.21%. This indicates that QQQU experiences smaller price fluctuations and is considered to be less risky than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQU	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.57%	33.21%	-18.64%
Volatility (6M) Calculated over the trailing 6-month period	30.86%	52.56%	-21.70%
Volatility (1Y) Calculated over the trailing 1-year period	41.29%	64.46%	-23.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.21%	81.18%	-27.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.21%	81.18%	-27.97%

QQQU vs. FNGU - Expense Ratio Comparison

QQQU has a 0.98% expense ratio, which is lower than FNGU's 2.60% expense ratio.

Dividends

QQQU vs. FNGU - Dividend Comparison

QQQU's dividend yield for the trailing twelve months is around 10.89%, while FNGU has not paid dividends to shareholders.

Position	TTM	2025	2024
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	10.89%	9.62%	2.75%

Frequently Asked Questions

Can I hold both QQQU and FNGU in my portfolio?

QQQU and FNGU have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQU or FNGU?

FNGU has higher volatility (33.21%) compared to QQQU (14.57%). In terms of maximum drawdown, QQQU dropped -53.70% vs FNGU's -61.30%.

Which ETF is better, QQQU or FNGU?

On 1-year performance, QQQU leads with 31.23% vs 17.53% for FNGU. On fees, QQQU is cheaper at 0.98% per year. On volatility, QQQU has been the lower-risk option at 14.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQU or FNGU?

Over the 1-year period, QQQU has performed better with a 31.23% return vs 17.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQU or FNGU?

QQQU is cheaper with a 0.98% expense ratio, compared with 2.60% for FNGU.

Which ETF pays a higher dividend yield, QQQU or FNGU?

QQQU has the higher dividend yield at 10.89%, compared with 0.00% for FNGU.

What is the main difference between QQQU and FNGU?

QQQU tracks Indxx Magnificent 7 Index (200%), while FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%). They also come from different issuers: Direxion and Bank of Montreal. Their fees differ too: 0.98% for QQQU and 2.60% for FNGU.

Which has better risk-adjusted returns?

QQQU currently has the higher Sharpe Ratio (0.76 vs 0.27), 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.