RMQAX vs. TQQQ

Last updated Jun 23, 2026

RMQAX (Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds. Over the past 10 years, RMQAX returned 38.05%/yr vs 47.00%/yr for TQQQ. With a 1.00 correlation, they move nearly in lockstep. RMQAX charges 1.32%/yr vs 0.95%/yr for TQQQ.

Performance

RMQAX vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMQAX achieves a 37.58% return, which is significantly lower than TQQQ's 56.90% return. Over the past 10 years, RMQAX has underperformed TQQQ with an annualized return of 38.05%, while TQQQ has yielded a comparatively higher 47.00% annualized return.

RMQAX

• 1D: 4.97%
• 1M: 5.59%
• YTD: 37.58%
• 6M: 35.14%
• 1Y: 81.04%
• 3Y*: 46.90%
• 5Y*: 25.00%
• 10Y*: 38.05%

TQQQ

• 1D: -0.35%
• 1M: 6.09%
• YTD: 56.90%
• 6M: 52.71%
• 1Y: 129.55%
• 3Y*: 63.58%
• 5Y*: 24.47%
• 10Y*: 47.00%

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

RMQAX vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	37.58%	33.92%	44.76%	115.91%	-59.93%	56.36%	101.06%	80.80%	-7.28%	69.80%
TQQQ ProShares UltraPro QQQ	56.90%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between RMQAX and TQQQ is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	1.00

The correlation between RMQAX and TQQQ has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

RMQAX vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RMQAX

RMQAX Risk / Return Rank: 61
RMQAX Sharpe Ratio Rank: 71
RMQAX Sortino Ratio Rank: 49
RMQAX Omega Ratio Rank: 52
RMQAX Calmar Ratio Rank: 74
RMQAX Martin Ratio Rank: 60

TQQQ

TQQQ Risk / Return Rank: 68
TQQQ Sharpe Ratio Rank: 81
TQQQ Sortino Ratio Rank: 59
TQQQ Omega Ratio Rank: 63
TQQQ Calmar Ratio Rank: 72
TQQQ Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RMQAX vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) 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.

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.

	RMQAX	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.49	-0.24
Sortino ratio: Return per unit of downside risk	2.70	2.72	-0.02
Omega ratio: Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	3.20	3.53	-0.32
Martin ratio: Return relative to average drawdown	11.28	11.25	+0.03

RMQAX vs. TQQQ - Sharpe Ratio Comparison

The current RMQAX Sharpe Ratio is 2.25, which is comparable to the TQQQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of RMQAX and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RMQAX vs. TQQQ - Drawdown Comparison

The maximum RMQAX drawdown since its inception was -63.18%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for RMQAX and TQQQ.

Drawdown Indicators

	RMQAX	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-63.18%	-81.66%	+18.48%
Max Drawdown (1Y) Largest decline over 1 year	-24.96%	-36.97%	+12.01%
Max Drawdown (3Y) Largest decline over 3 years	-42.45%	-58.04%	+15.59%
Max Drawdown (5Y) Largest decline over 5 years	-63.18%	-81.66%	+18.48%
Max Drawdown (10Y) Largest decline over 10 years	-63.18%	-81.66%	+18.48%
Current Drawdown Current decline from peak	-1.83%	-5.32%	+3.49%
Average Drawdown Average peak-to-trough decline	-12.87%	-18.50%	+5.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.07%	11.56%	-4.49%

Volatility

RMQAX vs. TQQQ - Volatility Comparison

The current volatility for Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund (RMQAX) is 17.26%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 25.07%. This indicates that RMQAX experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMQAX	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.26%	25.07%	-7.81%
Volatility (6M) Calculated over the trailing 6-month period	28.87%	42.17%	-13.30%
Volatility (1Y) Calculated over the trailing 1-year period	35.56%	52.51%	-16.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.67%	67.26%	-20.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.66%	66.36%	-19.70%

RMQAX vs. TQQQ - Expense Ratio Comparison

RMQAX has a 1.32% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

RMQAX vs. TQQQ - Dividend Comparison

RMQAX's dividend yield for the trailing twelve months is around 26.36%, more than TQQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RMQAX Rydex Monthly Rebalance NASDAQ-100 2x Strategy Fund	26.36%	36.27%	26.02%	3.76%	0.00%	2.18%	5.30%	0.10%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.38%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both RMQAX and TQQQ in my portfolio?

With a correlation of 1.00, RMQAX and TQQQ 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 is riskier, RMQAX or TQQQ?

TQQQ has higher volatility (25.07%) compared to RMQAX (17.26%). In terms of maximum drawdown, RMQAX dropped -63.18% vs TQQQ's -81.66%.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.49 vs 2.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.