QQQU vs. QQXL

Last updated Jun 5, 2026

QQQU (Direxion Daily Magnificent 7 Bull 2X Shares) and QQXL (ProShares Ultra QQQ Top 30) are both Leveraged Equities funds. QQQU is passively managed, while QQXL is actively managed. Their correlation of 0.88 suggests significant overlap in exposure. QQQU charges 1.07%/yr vs 0.95%/yr for QQXL.

Performance

QQQU vs. QQXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) and ProShares Ultra QQQ Top 30 (QQXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQU achieves a 6.21% return, which is significantly lower than QQXL's 41.81% return.

QQQU

• 1D: 2.17%
• 1M: 5.86%
• YTD: 6.21%
• 6M: 4.73%
• 1Y: 62.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQXL

• 1D: -1.36%
• 1M: 16.51%
• YTD: 41.81%
• 6M: 39.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQU vs. QQXL - Yearly Performance Comparison

	2026 (YTD)	2025
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	6.21%	19.86%
QQXL ProShares Ultra QQQ Top 30	41.81%	8.66%

Correlation

The correlation between QQQU and QQXL is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 18, 2025	0.88

Return for Risk

QQQU vs. QQXL — Risk / Return Rank

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

QQQU

QQQU Risk / Return Rank: 40
QQQU Sharpe Ratio Rank: 46
QQQU Sortino Ratio Rank: 42
QQQU Omega Ratio Rank: 41
QQQU Calmar Ratio Rank: 36
QQQU Martin Ratio Rank: 36

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. QQXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) and ProShares Ultra QQQ Top 30 (QQXL). 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.

	QQQU	QQXL	Difference
Sharpe ratio: Return per unit of total volatility	1.59	—	—
Sortino ratio: Return per unit of downside risk	2.10	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	1.74	—	—
Martin ratio: Return relative to average drawdown	5.44	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QQQU	QQXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.95	-0.96

Drawdowns

QQQU vs. QQXL - Drawdown Comparison

The maximum QQQU drawdown since its inception was -53.70%, which is greater than QQXL's maximum drawdown of -27.34%. Use the drawdown chart below to compare losses from any high point for QQQU and QQXL.

Drawdown Indicators

	QQQU	QQXL	Difference
Max Drawdown Largest peak-to-trough decline	-53.70%	-27.34%	-26.36%
Max Drawdown (1Y) Largest decline over 1 year	-36.29%	—	—
Current Drawdown Current decline from peak	-5.13%	-1.84%	-3.29%
Average Drawdown Average peak-to-trough decline	-13.33%	-6.74%	-6.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.62%	—	—

Volatility

Volatility by Period

	QQQU	QQXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	28.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	39.92%	36.93%	+2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.96%	36.93%	+16.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.96%	36.93%	+16.03%

QQQU vs. QQXL - Expense Ratio Comparison

QQQU has a 1.07% expense ratio, which is higher than QQXL's 0.95% expense ratio.

Dividends

QQQU vs. QQXL - Dividend Comparison

QQQU's dividend yield for the trailing twelve months is around 9.03%, more than QQXL's 0.45% yield.

Position	TTM	2025	2024
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	9.03%	9.62%	2.75%
QQXL ProShares Ultra QQQ Top 30	0.45%	0.08%	0.00%

Frequently Asked Questions

Can I hold both QQQU and QQXL in my portfolio?

QQQU and QQXL have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQQU or QQXL?

On fees, QQXL is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQU or QQXL?

QQXL is cheaper with a 0.95% expense ratio, compared with 1.07% for QQQU.

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

QQQU has the higher dividend yield at 9.03%, compared with 0.45% for QQXL.

What is the main difference between QQQU and QQXL?

They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.07% for QQQU and 0.95% for QQXL.