QQXL vs. MUU

Last updated Jun 26, 2026

QQXL (ProShares Ultra QQQ Top 30) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. QQXL is actively managed, while MUU is passively managed. Their correlation of 0.93 suggests significant overlap in exposure. QQXL charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

QQXL vs. MUU - Performance Comparison

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

Returns By Period

QQXL

• 1D: 1.80%
• 1M: -7.57%
• YTD: 29.93%
• 6M: 25.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: 31.07%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQXL vs. MUU - Yearly Performance Comparison

	2026 (YTD)
QQXL ProShares Ultra QQQ Top 30	-7.98%
MUU Direxion Daily MU Bull 2X Shares	14.65%

Correlation

The correlation between QQXL and MUU is 0.93, 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 Jun 16, 2026	0.93

Return for Risk

QQXL vs. MUU - Risk-Adjusted Trends Comparison

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

QQXL vs. MUU - Drawdown Comparison

The maximum QQXL drawdown since its inception was -27.34%, roughly equal to the maximum MUU drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for QQXL and MUU.

Drawdown Indicators

	QQXL	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-27.34%	-26.63%	-0.71%
Current Drawdown Current decline from peak	-10.07%	-3.84%	-6.23%
Average Drawdown Average peak-to-trough decline	-6.81%	-11.62%	+4.81%

Volatility

Volatility by Period

	QQXL	MUU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	40.52%	307.99%	-267.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.52%	307.99%	-267.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.52%	307.99%	-267.47%

QQXL vs. MUU - Expense Ratio Comparison

QQXL has a 0.95% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

QQXL vs. MUU - Dividend Comparison

QQXL's dividend yield for the trailing twelve months is around 0.78%, more than MUU's 0.17% yield.

Position	TTM	2025
MUU Direxion Daily MU Bull 2X Shares	0.17%	0.00%
QQXL ProShares Ultra QQQ Top 30	0.78%	0.08%

Frequently Asked Questions

Can I hold both QQXL and MUU in my portfolio?

With a correlation of 0.93, QQXL and MUU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QQXL or MUU?

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, QQXL or MUU?

QQXL is cheaper with a 0.95% expense ratio, compared with 1.01% for MUU.

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

QQXL has the higher dividend yield at 0.78%, compared with 0.17% for MUU.

What is the main difference between QQXL and MUU?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for QQXL and 1.01% for MUU.