TQQQ vs. MAGX

Last updated Jun 4, 2026

TQQQ (ProShares UltraPro QQQ) and MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) are both Leveraged Equities funds. TQQQ is passively managed, while MAGX is actively managed. Over the past year, TQQQ returned 137.89% vs 50.73% for MAGX. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

TQQQ vs. MAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and Roundhill Daily 2X Long Magnificent Seven ETF (MAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQQQ achieves a 64.46% return, which is significantly higher than MAGX's 1.49% return.

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

MAGX

• 1D: -2.59%
• 1M: 3.29%
• YTD: 1.49%
• 6M: 0.41%
• 1Y: 50.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TQQQ vs. MAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	32.94%
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	1.49%	26.16%	81.14%

Correlation

The correlation between TQQQ and MAGX 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 (All Time) Calculated using the full available price history since Mar 1, 2024	0.88

The correlation between TQQQ and MAGX has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

TQQQ vs. MAGX - Sectors Allocation Comparison

Sectors	TQQQ	MAGX
Technology	53.8%	-
Communication Services	15.8%	-
Consumer Cyclical	12.3%	-
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	2.8%	-
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	-
Financial Services	0.2%	25.0%
Real Estate	0.1%	-

Return for Risk

TQQQ vs. MAGX — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

MAGX

MAGX Risk / Return Rank: 31
MAGX Sharpe Ratio Rank: 35
MAGX Sortino Ratio Rank: 33
MAGX Omega Ratio Rank: 32
MAGX Calmar Ratio Rank: 28
MAGX Martin Ratio Rank: 29

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.

TQQQ vs. MAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Roundhill Daily 2X Long Magnificent Seven ETF (MAGX). 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.

	TQQQ	MAGX	Difference
Sharpe ratio: Return per unit of total volatility	2.92	1.28	+1.64
Sortino ratio: Return per unit of downside risk	3.09	1.79	+1.29
Omega ratio: Gain probability vs. loss probability	1.40	1.22	+0.18
Calmar ratio: Return relative to maximum drawdown	3.75	1.37	+2.38
Martin ratio: Return relative to average drawdown	12.27	4.21	+8.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQQQ vs. MAGX - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 2.92, which is higher than the MAGX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of TQQQ and MAGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TQQQ	MAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	1.28	+1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.85	-0.11

Drawdowns

TQQQ vs. MAGX - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, which is greater than MAGX's maximum drawdown of -54.19%. Use the drawdown chart below to compare losses from any high point for TQQQ and MAGX.

Drawdown Indicators

	TQQQ	MAGX	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-54.19%	-27.47%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-37.24%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-58.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-81.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-81.66%	—	—
Current Drawdown Current decline from peak	-0.76%	-7.49%	+6.73%
Average Drawdown Average peak-to-trough decline	-18.52%	-13.78%	-4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.28%	12.09%	-0.81%

Volatility

TQQQ vs. MAGX - Volatility Comparison

ProShares UltraPro QQQ (TQQQ) has a higher volatility of 13.29% compared to Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) at 9.19%. This indicates that TQQQ's price experiences larger fluctuations and is considered to be riskier than MAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQQQ	MAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.29%	9.19%	+4.10%
Volatility (6M) Calculated over the trailing 6-month period	36.04%	28.81%	+7.23%
Volatility (1Y) Calculated over the trailing 1-year period	47.60%	39.88%	+7.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.53%	53.52%	+13.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.96%	53.52%	+12.44%

TQQQ vs. MAGX - Expense Ratio Comparison

Both TQQQ and MAGX have an expense ratio of 0.95%.

Dividends

TQQQ vs. MAGX - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.36%, less than MAGX's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.02%	2.05%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.36%	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 TQQQ and MAGX in my portfolio?

TQQQ and MAGX 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, TQQQ or MAGX?

TQQQ has higher volatility (13.29%) compared to MAGX (9.19%). In terms of maximum drawdown, TQQQ dropped -81.66% vs MAGX's -54.19%.

Which ETF is better, TQQQ or MAGX?

On 1-year performance, TQQQ leads with 137.89% vs 50.73% for MAGX. Both ETFs have the same 0.95% expense ratio. On volatility, MAGX has been the lower-risk option at 9.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TQQQ or MAGX?

Over the 1-year period, TQQQ has performed better with a 137.89% return vs 50.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TQQQ or MAGX?

TQQQ and MAGX have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, TQQQ or MAGX?

MAGX has the higher dividend yield at 2.02%, compared with 0.36% for TQQQ.

What is the main difference between TQQQ and MAGX?

They also come from different issuers: ProShares and Roundhill.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 vs 1.28), 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.