QQXL vs. TSMX
QQXL (ProShares Ultra QQQ Top 30) and TSMX (Direxion Daily TSM Bull 2X Shares) are both Leveraged Equities funds. Both are actively managed. A 0.63 correlation means they provide meaningful diversification when combined. QQXL charges 0.95%/yr vs 1.05%/yr for TSMX.
Performance
QQXL vs. TSMX - Performance Comparison
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Returns By Period
In the year-to-date period, QQXL achieves a 41.81% return, which is significantly lower than TSMX's 92.23% return.
QQXL
- 1D
- -1.36%
- 1M
- 16.51%
- YTD
- 41.81%
- 6M
- 39.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSMX
- 1D
- 3.46%
- 1M
- 24.58%
- YTD
- 92.23%
- 6M
- 104.96%
- 1Y
- 290.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQXL vs. TSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 41.81% | 8.66% |
TSMX Direxion Daily TSM Bull 2X Shares | 92.23% | 50.31% |
Correlation
The correlation between QQXL and TSMX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 18, 2025 | 0.63 |
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Return for Risk
QQXL vs. TSMX — Risk / Return Rank
QQXL
TSMX
QQXL vs. TSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) and Direxion Daily TSM Bull 2X Shares (TSMX). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| QQXL | TSMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.95 | 1.63 | +0.33 |
Drawdowns
QQXL vs. TSMX - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum TSMX drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for QQXL and TSMX.
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Drawdown Indicators
| QQXL | TSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -63.80% | +36.46% |
Max Drawdown (1Y)Largest decline over 1 year | — | -34.93% | — |
Current DrawdownCurrent decline from peak | -1.84% | -0.96% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -6.74% | -15.81% | +9.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 10.68% | — |
Volatility
QQXL vs. TSMX - Volatility Comparison
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Volatility by Period
| QQXL | TSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 22.56% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 54.47% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 36.93% | 71.64% | -34.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.93% | 80.87% | -43.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.93% | 80.87% | -43.94% |
QQXL vs. TSMX - Expense Ratio Comparison
QQXL has a 0.95% expense ratio, which is lower than TSMX's 1.05% expense ratio.
Dividends
QQXL vs. TSMX - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.45%, less than TSMX's 4.30% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 0.45% | 0.08% | 0.00% |
TSMX Direxion Daily TSM Bull 2X Shares | 4.30% | 8.01% | 0.53% |
Frequently Asked Questions
QQXL and TSMX have a correlation of 0.63, 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 1.05% for TSMX.
TSMX has the higher dividend yield at 4.30%, compared with 0.45% for QQXL.
They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for QQXL and 1.05% for TSMX.
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