QQQU vs. TSLG

Last updated Jul 14, 2026

QQQU (Direxion Daily Magnificent 7 Bull 2X Shares) and TSLG (Leverage Shares 2X Long TSLA Daily ETF) are both Leveraged Equities funds. QQQU is passively managed, while TSLG is actively managed. Over the past year, QQQU returned 35.42% vs 14.94% for TSLG. A 0.76 correlation means they provide meaningful diversification when combined. QQQU charges 0.98%/yr vs 0.75%/yr for TSLG.

Performance

QQQU vs. TSLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) and Leverage Shares 2X Long TSLA Daily ETF (TSLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQU achieves a -1.66% return, which is significantly higher than TSLG's -34.66% return.

QQQU

• 1D: -1.91%
• 1M: 5.66%
• 6M: -2.38%
• YTD: -1.66%
• 1Y: 35.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLG

• 1D: -6.31%
• 1M: -8.97%
• 6M: -33.95%
• YTD: -34.66%
• 1Y: 14.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQU vs. TSLG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	-1.66%	32.87%	-6.98%
TSLG Leverage Shares 2X Long TSLA Daily ETF	-34.66%	-26.70%	-14.82%

Correlation

The correlation between QQQU and TSLG is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.76

The correlation between QQQU and TSLG has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

Return for Risk

QQQU vs. TSLG — Risk / Return Rank

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

QQQU

QQQU Risk / Return Rank: 28
QQQU Sharpe Ratio Rank: 29
QQQU Sortino Ratio Rank: 30
QQQU Omega Ratio Rank: 29
QQQU Calmar Ratio Rank: 25
QQQU Martin Ratio Rank: 26

TSLG

TSLG Risk / Return Rank: 15
TSLG Sharpe Ratio Rank: 12
TSLG Sortino Ratio Rank: 19
TSLG Omega Ratio Rank: 18
TSLG Calmar Ratio Rank: 13
TSLG 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. TSLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) and Leverage Shares 2X Long TSLA Daily ETF (TSLG). 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	TSLG	Difference
Sharpe ratio: Return per unit of total volatility	0.84	0.17	+0.67
Sortino ratio: Return per unit of downside risk	1.34	0.88	+0.46
Omega ratio: Gain probability vs. loss probability	1.16	1.10	+0.06
Calmar ratio: Return relative to maximum drawdown	0.98	0.27	+0.71
Martin ratio: Return relative to average drawdown	2.78	0.53	+2.25

QQQU vs. TSLG - Sharpe Ratio Comparison

The current QQQU Sharpe Ratio is 0.84, which is higher than the TSLG Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of QQQU and TSLG, 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. TSLG - Drawdown Comparison

The maximum QQQU drawdown since its inception was -53.70%, smaller than the maximum TSLG drawdown of -82.86%. Use the drawdown chart below to compare losses from any high point for QQQU and TSLG.

Drawdown Indicators

	QQQU	TSLG	Difference
Max Drawdown Largest peak-to-trough decline	-53.70%	-82.86%	+29.16%
Max Drawdown (1Y) Largest decline over 1 year	-36.29%	-54.61%	+18.32%
Current Drawdown Current decline from peak	-12.16%	-66.99%	+54.83%
Average Drawdown Average peak-to-trough decline	-13.44%	-59.00%	+45.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.78%	28.42%	-15.64%

Volatility

QQQU vs. TSLG - Volatility Comparison

The current volatility for Direxion Daily Magnificent 7 Bull 2X Shares (QQQU) is 15.89%, while Leverage Shares 2X Long TSLA Daily ETF (TSLG) has a volatility of 35.19%. This indicates that QQQU experiences smaller price fluctuations and is considered to be less risky than TSLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQU	TSLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.89%	35.19%	-19.30%
Volatility (6M) Calculated over the trailing 6-month period	32.72%	62.74%	-30.02%
Volatility (1Y) Calculated over the trailing 1-year period	42.37%	89.65%	-47.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.16%	115.68%	-62.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.16%	115.68%	-62.52%

QQQU vs. TSLG - Expense Ratio Comparison

QQQU has a 0.98% expense ratio, which is higher than TSLG's 0.75% expense ratio.

Dividends

QQQU vs. TSLG - Dividend Comparison

QQQU's dividend yield for the trailing twelve months is around 9.71%, less than TSLG's 10.02% yield.

Position	TTM	2025	2024
QQQU Direxion Daily Magnificent 7 Bull 2X Shares	9.71%	9.62%	2.75%
TSLG Leverage Shares 2X Long TSLA Daily ETF	10.02%	6.55%	0.00%

Frequently Asked Questions

Can I hold both QQQU and TSLG in my portfolio?

QQQU and TSLG have a correlation of 0.71, 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 TSLG?

TSLG has higher volatility (35.19%) compared to QQQU (15.89%). In terms of maximum drawdown, QQQU dropped -53.70% vs TSLG's -82.86%.

Which ETF is better, QQQU or TSLG?

On 1-year performance, QQQU leads with 35.42% vs 14.94% for TSLG. On fees, TSLG is cheaper at 0.75% per year. On volatility, QQQU has been the lower-risk option at 15.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQU or TSLG?

Over the 1-year period, QQQU has performed better with a 35.42% return vs 14.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQU or TSLG?

TSLG is cheaper with a 0.75% expense ratio, compared with 0.98% for QQQU.

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

TSLG has the higher dividend yield at 10.02%, compared with 9.71% for QQQU.

What is the main difference between QQQU and TSLG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.98% for QQQU and 0.75% for TSLG.

Which has better risk-adjusted returns?

QQQU currently has the higher Sharpe Ratio (0.84 vs 0.17), 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.