TNA vs. TQQQ
Compare and contrast key facts about Direxion Daily Small Cap Bull 3X Shares (TNA) and ProShares UltraPro QQQ (TQQQ).
TNA and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TNA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (300%). It was launched on Nov 5, 2008. 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 TNA 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: TNA or TQQQ.
Key characteristics
| TNA | TQQQ | |
|---|---|---|
| YTD Return | 31.96% | 63.05% |
| 1Y Return | 84.05% | 93.36% |
| 3Y Return (Ann) | -21.02% | 0.71% |
| 5Y Return (Ann) | -3.51% | 35.20% |
| 10Y Return (Ann) | 3.59% | 35.62% |
| Sharpe Ratio | 1.77 | 2.04 |
| Sortino Ratio | 2.38 | 2.42 |
| Omega Ratio | 1.29 | 1.33 |
| Calmar Ratio | 1.52 | 2.06 |
| Martin Ratio | 8.91 | 8.51 |
| Ulcer Index | 12.83% | 12.40% |
| Daily Std Dev | 64.68% | 51.62% |
| Max Drawdown | -88.09% | -81.66% |
| Current Drawdown | -52.60% | -4.59% |
Correlation
The correlation between TNA and TQQQ is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TNA vs. TQQQ - Performance Comparison
In the year-to-date period, TNA achieves a 31.96% return, which is significantly lower than TQQQ's 63.05% return. Over the past 10 years, TNA has underperformed TQQQ with an annualized return of 3.59%, while TQQQ has yielded a comparatively higher 35.62% annualized 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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TNA vs. TQQQ - Expense Ratio Comparison
TNA has a 1.14% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Risk-Adjusted Performance
TNA vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Small Cap Bull 3X Shares (TNA) 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
TNA vs. TQQQ - Dividend Comparison
TNA's dividend yield for the trailing twelve months is around 0.83%, less than TQQQ's 1.16% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TNA Direxion Daily Small Cap Bull 3X Shares | 0.83% | 1.27% | 0.31% | 0.06% | 0.03% | 0.44% | 0.36% | 0.15% | 0.00% | 0.00% | 0.59% | 1.53% |
TQQQ ProShares UltraPro QQQ | 1.16% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% | 0.00% |
Drawdowns
TNA vs. TQQQ - Drawdown Comparison
The maximum TNA drawdown since its inception was -88.09%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for TNA and TQQQ. For additional features, visit the drawdowns tool.
Volatility
TNA vs. TQQQ - Volatility Comparison
Direxion Daily Small Cap Bull 3X Shares (TNA) has a higher volatility of 21.82% compared to ProShares UltraPro QQQ (TQQQ) at 14.68%. This indicates that TNA'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.