QQQU vs. TMF
QQQU (Direxion Daily Magnificent 7 Bull 2X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - QQQU is a Leveraged Equities fund tracking the Indxx Magnificent 7 Index (200%), 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 year, QQQU returned 28.43% vs -18.44% for TMF. Their 0.04 correlation means their historical movements had little consistent relationship. QQQU charges 0.98%/yr vs 1.01%/yr for TMF.
Performance
QQQU vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, QQQU achieves a -5.22% return, which is significantly higher than TMF's -16.67% return.
QQQU
- 1D
- 6.85%
- 1M
- 2.17%
- 6M
- -5.40%
- YTD
- -5.22%
- 1Y
- 28.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 43.14%
TMF
- 1D
- -2.08%
- 1M
- -12.05%
- 6M
- -15.79%
- YTD
- -16.67%
- 1Y
- -18.44%
- 3Y*
- -20.63%
- 5Y*
- -34.74%
- 10Y*
- -18.47%
- ALL TIME*
- -6.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.18M | $2.57M | $3.73M | |
| $161.82M | $130.43M | $127.82M |
QQQU vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQU Direxion Daily Magnificent 7 Bull 2X Shares | -5.22% | 32.87% | 87.67% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -16.67% | -2.94% | -28.53% |
Correlation
The correlation between QQQU and TMF is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | 0.04 |
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Return for Risk
QQQU vs. TMF — Risk / Return Rank
QQQU
TMF
QQQU vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) 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.
| QQQU | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.93 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | -0.53 | +1.09 |
| Martin ratioReturn relative to average drawdown | 1.52 | -1.07 | +2.59 |
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Drawdowns
QQQU vs. TMF - Drawdown Comparison
The maximum QQQU drawdown since its inception was -53.70%, smaller than the maximum TMF drawdown of -93.10%. Use the drawdown chart below to compare losses from any high point for QQQU and TMF.
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Drawdown Indicators
| QQQU | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.70% | -93.10% | +39.40% |
Max Drawdown (1Y)Largest decline over 1 year | -36.29% | -28.69% | -7.60% |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.64% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.10% | — |
Current DrawdownCurrent decline from peak | -15.34% | -93.10% | +77.76% |
Average DrawdownAverage peak-to-trough decline | -13.50% | -44.07% | +30.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.41% | 14.10% | -0.69% |
Volatility
QQQU vs. TMF - Volatility Comparison
Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) has a higher volatility of 16.52% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 7.21%. This indicates that QQQU'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
| QQQU | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 7.21% | +9.31% |
Volatility (6M)Calculated over the trailing 6-month period | 34.79% | 19.98% | +14.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.63% | 27.35% | +17.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.39% | 46.36% | +7.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.39% | 43.70% | +9.69% |
QQQU vs. TMF - Expense Ratio Comparison
QQQU has a 0.98% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
QQQU vs. TMF - Dividend Comparison
QQQU's dividend yield for the trailing twelve months is around 10.07%, more than TMF's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QQQU Direxion Daily Magnificent 7 Bull 2X Shares | 10.07% | 9.62% | 2.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.74% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
QQQU and TMF have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQU has higher volatility (16.52%) compared to TMF (7.21%). In terms of maximum drawdown, QQQU dropped -53.70% vs TMF's -93.10%.
On 1-year performance, QQQU leads with 28.43% vs -18.44% for TMF. On fees, QQQU is cheaper at 0.98% per year. On volatility, TMF has been the lower-risk option at 7.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QQQU has performed better with a 28.43% return vs -18.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQU is cheaper with a 0.98% expense ratio, compared with 1.01% for TMF.
QQQU has the higher dividend yield at 10.07%, compared with 4.74% for TMF.
QQQU is categorized as Leveraged Equities, while TMF is Leveraged Bonds. QQQU tracks Indxx Magnificent 7 Index (200%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 0.98% for QQQU and 1.01% for TMF.
QQQU currently has the higher Sharpe Ratio (0.46 vs -0.55), 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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