QQXL vs. FXN
QQXL (ProShares Ultra QQQ Top 30) and FXN (First Trust Energy AlphaDEX Fund) are both exchange-traded funds - QQXL is a Leveraged Equities fund actively managed by ProShares, while FXN is a Energy Equities fund tracking the StrataQuant Energy Index. QQXL is actively managed, while FXN is passively managed. At a correlation of -0.09, they often move in opposite directions. QQXL charges 0.95%/yr vs 0.64%/yr for FXN.
Performance
QQXL vs. FXN - Performance Comparison
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Returns By Period
In the year-to-date period, QQXL achieves a 29.93% return, which is significantly higher than FXN's 24.83% return.
QQXL
- 1D
- 1.80%
- 1M
- -7.57%
- YTD
- 29.93%
- 6M
- 25.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXN
- 1D
- 1.00%
- 1M
- -6.17%
- YTD
- 24.83%
- 6M
- 25.90%
- 1Y
- 38.12%
- 3Y*
- 13.24%
- 5Y*
- 14.77%
- 10Y*
- 6.31%
QQXL vs. FXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 29.93% | 9.00% |
FXN First Trust Energy AlphaDEX Fund | 24.83% | 7.12% |
Correlation
The correlation between QQXL and FXN is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 15, 2025 | -0.09 |
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Return for Risk
QQXL vs. FXN — Risk / Return Rank
QQXL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FXN
QQXL vs. FXN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) and First Trust Energy AlphaDEX Fund (FXN). 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.
| QQXL | FXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.95 | — |
| Martin ratioReturn relative to average drawdown | — | 8.14 | — |
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Drawdowns
QQXL vs. FXN - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum FXN drawdown of -87.39%. Use the drawdown chart below to compare losses from any high point for QQXL and FXN.
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Drawdown Indicators
| QQXL | FXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -87.39% | +60.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -12.99% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -80.63% | — |
Current DrawdownCurrent decline from peak | -10.07% | -11.64% | +1.57% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -37.89% | +31.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.69% | — |
Volatility
QQXL vs. FXN - Volatility Comparison
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Volatility by Period
| QQXL | FXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.25% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.21% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.52% | 23.65% | +16.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.52% | 28.95% | +11.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.52% | 34.93% | +5.59% |
QQXL vs. FXN - Expense Ratio Comparison
QQXL has a 0.95% expense ratio, which is higher than FXN's 0.64% expense ratio.
Dividends
QQXL vs. FXN - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.78%, less than FXN's 2.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXN First Trust Energy AlphaDEX Fund | 2.23% | 2.53% | 2.50% | 3.09% | 2.28% | 0.87% | 4.71% | 1.47% | 1.43% | 1.17% | 1.05% | 2.36% |
QQXL ProShares Ultra QQQ Top 30 | 0.78% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QQXL and FXN have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FXN is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FXN is cheaper with a 0.64% expense ratio, compared with 0.95% for QQXL.
FXN has the higher dividend yield at 2.23%, compared with 0.78% for QQXL.
QQXL is categorized as Leveraged Equities, while FXN is Energy Equities. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.95% for QQXL and 0.64% for FXN.
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