QQXL vs. SPUU
QQXL (ProShares Ultra QQQ Top 30) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds. QQXL is actively managed, while SPUU is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. QQXL charges 0.95%/yr vs 0.60%/yr for SPUU.
Performance
QQXL vs. SPUU - 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 SPUU's 13.24% return.
QQXL
- 1D
- 1.80%
- 1M
- -7.57%
- YTD
- 29.93%
- 6M
- 25.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPUU
- 1D
- 0.03%
- 1M
- -4.55%
- YTD
- 13.24%
- 6M
- 10.22%
- 1Y
- 39.60%
- 3Y*
- 34.71%
- 5Y*
- 18.25%
- 10Y*
- 25.28%
QQXL vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 29.93% | 9.00% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 13.24% | 10.20% |
Correlation
The correlation between QQXL and SPUU is 0.92, 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 | 0.92 |
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Return for Risk
QQXL vs. SPUU — Risk / Return Rank
QQXL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPUU
QQXL vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.28 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.19 | — |
| Martin ratioReturn relative to average drawdown | — | 9.22 | — |
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Drawdowns
QQXL vs. SPUU - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for QQXL and SPUU.
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Drawdown Indicators
| QQXL | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -59.35% | +32.01% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.19% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -10.07% | -6.69% | -3.38% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -9.48% | +2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.31% | — |
Volatility
QQXL vs. SPUU - Volatility Comparison
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Volatility by Period
| QQXL | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.51% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 19.81% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.52% | 25.05% | +15.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.52% | 33.67% | +6.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.52% | 35.79% | +4.73% |
QQXL vs. SPUU - Expense Ratio Comparison
QQXL has a 0.95% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
QQXL vs. SPUU - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.78%, less than SPUU's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.39% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
With a correlation of 0.92, QQXL and SPUU 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.
On fees, SPUU is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPUU is cheaper with a 0.60% expense ratio, compared with 0.95% for QQXL.
SPUU has the higher dividend yield at 1.39%, compared with 0.78% for QQXL.
They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for QQXL and 0.60% for SPUU.
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