THRO vs. QQQE

Last updated Jun 24, 2026

THRO (iShares U.S. Thematic Rotation Active ETF) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - THRO is a Tactical Allocation fund actively managed by iShares, while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. THRO is actively managed, while QQQE is passively managed. Over the past 3 years, THRO returned 22.54%/yr vs 17.55%/yr for QQQE. Their correlation of 0.90 suggests significant overlap in exposure. THRO charges 0.60%/yr vs 0.35%/yr for QQQE.

Performance

THRO vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Thematic Rotation Active ETF (THRO) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THRO achieves a 10.10% return, which is significantly lower than QQQE's 16.25% return.

THRO

• 1D: -1.58%
• 1M: -0.59%
• YTD: 10.10%
• 6M: 8.78%
• 1Y: 23.17%
• 3Y*: 22.54%
• 5Y*: —
• 10Y*: —

QQQE

• 1D: -2.31%
• 1M: 1.82%
• YTD: 16.25%
• 6M: 14.96%
• 1Y: 24.99%
• 3Y*: 17.55%
• 5Y*: 9.11%
• 10Y*: 15.77%

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

THRO vs. QQQE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
THRO iShares U.S. Thematic Rotation Active ETF	10.10%	15.04%	32.03%	24.40%	-17.85%	1.01%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	16.25%	14.58%	6.98%	33.76%	-24.47%	1.55%

Correlation

The correlation between THRO and QQQE is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.90

The correlation between THRO and QQQE has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

THRO vs. QQQE - Sectors Allocation Comparison

Sectors	THRO	QQQE
Technology	43.9%	51.0%
Industrials	10.9%	9.3%
Financial Services	10.7%	0.8%
Consumer Cyclical	9.0%	9.8%
Communication Services	8.9%	8.4%
Consumer Defensive	5.7%	7.0%
Healthcare	5.7%	7.8%
Energy	3.5%	1.7%
Basic Materials	1.2%	0.8%
Utilities	0.1%	3.4%
Real Estate	-	0.7%

Return for Risk

THRO vs. QQQE — Risk / Return Rank

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

THRO

THRO Risk / Return Rank: 50
THRO Sharpe Ratio Rank: 52
THRO Sortino Ratio Rank: 50
THRO Omega Ratio Rank: 48
THRO Calmar Ratio Rank: 45
THRO Martin Ratio Rank: 56

QQQE

QQQE Risk / Return Rank: 50
QQQE Sharpe Ratio Rank: 48
QQQE Sortino Ratio Rank: 45
QQQE Omega Ratio Rank: 45
QQQE Calmar Ratio Rank: 57
QQQE Martin Ratio Rank: 53

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.

THRO vs. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Thematic Rotation Active ETF (THRO) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.

	THRO	QQQE	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.60	+0.08
Sortino ratio: Return per unit of downside risk	2.33	2.20	+0.14
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.01
Calmar ratio: Return relative to maximum drawdown	2.14	2.67	-0.53
Martin ratio: Return relative to average drawdown	9.26	8.96	+0.30

THRO vs. QQQE - Sharpe Ratio Comparison

The current THRO Sharpe Ratio is 1.68, which is comparable to the QQQE Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of THRO and QQQE, 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

THRO vs. QQQE - Drawdown Comparison

The maximum THRO drawdown since its inception was -26.54%, smaller than the maximum QQQE drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for THRO and QQQE.

Drawdown Indicators

	THRO	QQQE	Difference
Max Drawdown Largest peak-to-trough decline	-26.54%	-32.14%	+5.60%
Max Drawdown (1Y) Largest decline over 1 year	-10.87%	-9.41%	-1.46%
Max Drawdown (3Y) Largest decline over 3 years	-19.07%	-21.38%	+2.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.14%	—
Current Drawdown Current decline from peak	-2.91%	-3.24%	+0.33%
Average Drawdown Average peak-to-trough decline	-6.64%	-5.16%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.80%	-0.29%

Volatility

THRO vs. QQQE - Volatility Comparison

The current volatility for iShares U.S. Thematic Rotation Active ETF (THRO) is 5.67%, while Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has a volatility of 8.11%. This indicates that THRO experiences smaller price fluctuations and is considered to be less risky than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THRO	QQQE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	8.11%	-2.44%
Volatility (6M) Calculated over the trailing 6-month period	11.21%	12.74%	-1.53%
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	15.68%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.78%	20.55%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.78%	20.80%	-2.02%

THRO vs. QQQE - Expense Ratio Comparison

THRO has a 0.60% expense ratio, which is higher than QQQE's 0.35% expense ratio.

Dividends

THRO vs. QQQE - Dividend Comparison

THRO's dividend yield for the trailing twelve months is around 0.26%, less than QQQE's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.53%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%
THRO iShares U.S. Thematic Rotation Active ETF	0.26%	0.15%	0.73%	0.55%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both THRO and QQQE in my portfolio?

THRO and QQQE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THRO or QQQE?

QQQE has higher volatility (8.11%) compared to THRO (5.67%). In terms of maximum drawdown, THRO dropped -26.54% vs QQQE's -32.14%.

Which ETF is better, THRO or QQQE?

On 3-year performance, THRO leads with 22.54% vs 17.55% for QQQE. On fees, QQQE is cheaper at 0.35% per year. On volatility, THRO has been the lower-risk option at 5.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THRO or QQQE?

Over the 3-year period, THRO has performed better with a 22.54% return vs 17.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THRO or QQQE?

QQQE is cheaper with a 0.35% expense ratio, compared with 0.60% for THRO.

Which ETF pays a higher dividend yield, THRO or QQQE?

QQQE has the higher dividend yield at 0.53%, compared with 0.26% for THRO.

What is the main difference between THRO and QQQE?

THRO is categorized as Tactical Allocation, while QQQE is Nasdaq-100. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.60% for THRO and 0.35% for QQQE.

Which has better risk-adjusted returns?

THRO currently has the higher Sharpe Ratio (1.68 vs 1.60), 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.