QQQU vs. TPYP

Last updated Jul 12, 2026

QQQU (Direxion Daily Magnificent 7 Bull 2X Shares) and TPYP (Tortoise North American Pipeline Fund) are both exchange-traded funds - QQQU is a Leveraged Equities fund tracking the Indxx Magnificent 7 Index (200%), while TPYP is a Energy Equities fund tracking the Tortoise North American Pipeline Index. Both are passively managed. Over the past year, QQQU returned 38.06% vs 26.53% for TPYP. At a 0.02 correlation, their price movements are largely independent. QQQU charges 0.98%/yr vs 0.40%/yr for TPYP.

Performance

QQQU vs. TPYP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) and Tortoise North American Pipeline Fund (TPYP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQU achieves a 0.26% return, which is significantly lower than TPYP's 22.99% return.

QQQU

• 1D: 2.43%
• 1M: 7.72%
• 6M: -0.49%
• YTD: 0.26%
• 1Y: 38.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TPYP

• 1D: -0.25%
• 1M: 0.79%
• 6M: 24.31%
• YTD: 22.99%
• 1Y: 26.53%
• 3Y*: 24.84%
• 5Y*: 18.54%
• 10Y*: 11.58%

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

QQQU vs. TPYP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	0.26%	32.87%	87.67%
TPYP Tortoise North American Pipeline Fund	22.99%	7.59%	30.96%

Correlation

The correlation between QQQU and TPYP is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.25
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.02

The correlation between QQQU and TPYP shifts across timeframes, from -0.25 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

QQQU vs. TPYP - Sectors Allocation Comparison

Sectors	QQQU	TPYP
Technology	43.3%	-
Consumer Cyclical	29.1%	-
Communication Services	27.6%	-
Basic Materials	-	0.1%
Consumer Defensive	-	-
Energy	-	68.7%
Financial Services	-	2.4%
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Utilities	-	22.0%

Return for Risk

QQQU vs. TPYP — Risk / Return Rank

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

QQQU

QQQU Risk / Return Rank: 29
QQQU Sharpe Ratio Rank: 31
QQQU Sortino Ratio Rank: 31
QQQU Omega Ratio Rank: 30
QQQU Calmar Ratio Rank: 27
QQQU Martin Ratio Rank: 28

TPYP

TPYP Risk / Return Rank: 77
TPYP Sharpe Ratio Rank: 79
TPYP Sortino Ratio Rank: 80
TPYP Omega Ratio Rank: 72
TPYP Calmar Ratio Rank: 87
TPYP Martin Ratio Rank: 66

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. TPYP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) and Tortoise North American Pipeline Fund (TPYP). 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	TPYP	Difference
Sharpe ratio: Return per unit of total volatility	0.93	2.00	-1.07
Sortino ratio: Return per unit of downside risk	1.43	2.83	-1.39
Omega ratio: Gain probability vs. loss probability	1.18	1.34	-0.16
Calmar ratio: Return relative to maximum drawdown	1.08	3.99	-2.90
Martin ratio: Return relative to average drawdown	3.07	9.54	-6.46

QQQU vs. TPYP - Sharpe Ratio Comparison

The current QQQU Sharpe Ratio is 0.93, which is lower than the TPYP Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of QQQU and TPYP, 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. TPYP - Drawdown Comparison

The maximum QQQU drawdown since its inception was -53.70%, roughly equal to the maximum TPYP drawdown of -51.91%. Use the drawdown chart below to compare losses from any high point for QQQU and TPYP.

Drawdown Indicators

	QQQU	TPYP	Difference
Max Drawdown Largest peak-to-trough decline	-53.70%	-51.91%	-1.79%
Max Drawdown (1Y) Largest decline over 1 year	-36.29%	-6.84%	-29.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.91%	—
Current Drawdown Current decline from peak	-10.45%	-2.96%	-7.49%
Average Drawdown Average peak-to-trough decline	-13.44%	-7.86%	-5.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.76%	2.85%	+9.91%

Volatility

QQQU vs. TPYP - Volatility Comparison

Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) has a higher volatility of 16.53% compared to Tortoise North American Pipeline Fund (TPYP) at 5.25%. This indicates that QQQU's price experiences larger fluctuations and is considered to be riskier than TPYP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQU	TPYP	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.53%	5.25%	+11.28%
Volatility (6M) Calculated over the trailing 6-month period	32.67%	10.78%	+21.89%
Volatility (1Y) Calculated over the trailing 1-year period	42.25%	13.65%	+28.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.19%	17.43%	+35.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.19%	21.90%	+31.29%

QQQU vs. TPYP - Expense Ratio Comparison

QQQU has a 0.98% expense ratio, which is higher than TPYP's 0.40% expense ratio.

Dividends

QQQU vs. TPYP - Dividend Comparison

QQQU's dividend yield for the trailing twelve months is around 9.52%, more than TPYP's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	9.52%	9.62%	2.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TPYP Tortoise North American Pipeline Fund	3.21%	3.91%	3.95%	4.83%	4.48%	4.86%	6.14%	4.45%	4.58%	3.71%	3.49%	2.56%

Frequently Asked Questions

Can I hold both QQQU and TPYP in my portfolio?

QQQU and TPYP have a correlation of -0.25, 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 TPYP?

QQQU has higher volatility (16.53%) compared to TPYP (5.25%). In terms of maximum drawdown, QQQU dropped -53.70% vs TPYP's -51.91%.

Which ETF is better, QQQU or TPYP?

On 1-year performance, QQQU leads with 38.06% vs 26.53% for TPYP. On fees, TPYP is cheaper at 0.40% per year. On volatility, TPYP has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQU or TPYP?

Over the 1-year period, QQQU has performed better with a 38.06% return vs 26.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQU or TPYP?

TPYP is cheaper with a 0.40% expense ratio, compared with 0.98% for QQQU.

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

QQQU has the higher dividend yield at 9.52%, compared with 3.21% for TPYP.

What is the main difference between QQQU and TPYP?

QQQU is categorized as Leveraged Equities, while TPYP is Energy Equities. QQQU tracks Indxx Magnificent 7 Index (200%), while TPYP tracks Tortoise North American Pipeline Index. They also come from different issuers: Direxion and Tortoise. Their fees differ too: 0.98% for QQQU and 0.40% for TPYP.

Which has better risk-adjusted returns?

TPYP currently has the higher Sharpe Ratio (2.00 vs 0.93), 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.