RAYS vs. TQQQ
Compare and contrast key facts about Global X Solar ETF (RAYS) and ProShares UltraPro QQQ (TQQQ).
RAYS and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RAYS is a passively managed fund by Global X that tracks the performance of the Solactive Solar Index. It was launched on Sep 8, 2021. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both RAYS and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RAYS or TQQQ.
Key characteristics
| RAYS | TQQQ | |
|---|---|---|
| YTD Return | -22.07% | 64.96% |
| 1Y Return | -11.34% | 119.79% |
| 3Y Return (Ann) | -27.53% | 0.92% |
| Sharpe Ratio | -0.28 | 2.20 |
| Sortino Ratio | -0.12 | 2.54 |
| Omega Ratio | 0.99 | 1.34 |
| Calmar Ratio | -0.17 | 2.04 |
| Martin Ratio | -0.64 | 9.24 |
| Ulcer Index | 18.15% | 12.40% |
| Daily Std Dev | 42.07% | 52.07% |
| Max Drawdown | -66.93% | -81.66% |
| Current Drawdown | -63.80% | -3.47% |
Correlation
The correlation between RAYS and TQQQ is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
RAYS vs. TQQQ - Performance Comparison
In the year-to-date period, RAYS achieves a -22.07% return, which is significantly lower than TQQQ's 64.96% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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RAYS vs. TQQQ - Expense Ratio Comparison
RAYS has a 0.50% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Risk-Adjusted Performance
RAYS vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Solar ETF (RAYS) and ProShares UltraPro QQQ (TQQQ). 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.
Dividends
RAYS vs. TQQQ - Dividend Comparison
RAYS's dividend yield for the trailing twelve months is around 0.30%, less than TQQQ's 1.15% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
RAYS Global X Solar ETF | 0.30% | 0.00% | 0.00% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 1.15% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% |
Drawdowns
RAYS vs. TQQQ - Drawdown Comparison
The maximum RAYS drawdown since its inception was -66.93%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for RAYS and TQQQ. For additional features, visit the drawdowns tool.
Volatility
RAYS vs. TQQQ - Volatility Comparison
Global X Solar ETF (RAYS) has a higher volatility of 16.33% compared to ProShares UltraPro QQQ (TQQQ) at 15.47%. This indicates that RAYS's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.