QQXL vs. QQQU
QQXL (ProShares Ultra QQQ Top 30) and QQQU (Direxion Daily Magnificent 7 Bull 2X Shares) are both Leveraged Equities funds. QQXL is actively managed, while QQQU is passively managed. Their correlation of 0.86 suggests significant overlap in exposure. QQXL charges 0.95%/yr vs 0.98%/yr for QQQU.
Performance
QQXL vs. QQQU - 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 QQQU's -17.64% return.
QQXL
- 1D
- 1.80%
- 1M
- -7.57%
- YTD
- 29.93%
- 6M
- 25.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQU
- 1D
- -4.93%
- 1M
- -23.60%
- YTD
- -17.64%
- 6M
- -20.69%
- 1Y
- 20.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQXL vs. QQQU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 29.93% | 9.00% |
QQQU Direxion Daily Magnificent 7 Bull 2X Shares | -17.64% | 18.89% |
Correlation
The correlation between QQXL and QQQU is 0.86, 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 Aug 15, 2025 | 0.86 |
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Return for Risk
QQXL vs. QQQU — Risk / Return Rank
QQXL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QQQU
QQXL vs. QQQU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) and Direxion Daily Magnificent 7 Bull 2X Shares (QQQU). 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 | QQQU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.11 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.55 | — |
| Martin ratioReturn relative to average drawdown | — | 1.63 | — |
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Drawdowns
QQXL vs. QQQU - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum QQQU drawdown of -53.70%. Use the drawdown chart below to compare losses from any high point for QQXL and QQQU.
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Drawdown Indicators
| QQXL | QQQU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -53.70% | +26.36% |
Max Drawdown (1Y)Largest decline over 1 year | — | -36.29% | — |
Current DrawdownCurrent decline from peak | -10.07% | -26.44% | +16.37% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -13.39% | +6.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 12.32% | — |
Volatility
QQXL vs. QQQU - Volatility Comparison
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Volatility by Period
| QQXL | QQQU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.99% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 31.22% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.52% | 41.47% | -0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.52% | 53.24% | -12.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.52% | 53.24% | -12.72% |
QQXL vs. QQQU - Expense Ratio Comparison
QQXL has a 0.95% expense ratio, which is lower than QQQU's 0.98% expense ratio.
Dividends
QQXL vs. QQQU - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.78%, less than QQQU's 11.59% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QQQU Direxion Daily Magnificent 7 Bull 2X Shares | 11.59% | 9.62% | 2.75% |
QQXL ProShares Ultra QQQ Top 30 | 0.78% | 0.08% | 0.00% |
Frequently Asked Questions
QQXL and QQQU have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
QQXL is cheaper with a 0.95% expense ratio, compared with 0.98% for QQQU.
QQQU has the higher dividend yield at 11.59%, compared with 0.78% for QQXL.
They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for QQXL and 0.98% for QQQU.
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