TQQQ vs. MSOX

Last updated Jun 13, 2026

TQQQ (ProShares UltraPro QQQ) and MSOX (Advisorshares Msos 2x Daily ETF) are both Leveraged Equities funds. TQQQ is passively managed, while MSOX is actively managed. Over the past 3 years, TQQQ returned 59.79%/yr vs -61.73%/yr for MSOX. At a 0.22 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

TQQQ vs. MSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and Advisorshares Msos 2x Daily ETF (MSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQQQ achieves a 47.28% return, which is significantly higher than MSOX's -23.66% return.

TQQQ

• 1D: 1.99%
• 1M: 0.36%
• YTD: 47.28%
• 6M: 47.23%
• 1Y: 106.26%
• 3Y*: 59.79%
• 5Y*: 24.34%
• 10Y*: 44.55%

MSOX

• 1D: -7.32%
• 1M: 0.59%
• YTD: -23.66%
• 6M: -56.93%
• 1Y: 36.25%
• 3Y*: -61.73%
• 5Y*: —
• 10Y*: —

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

TQQQ vs. MSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TQQQ ProShares UltraPro QQQ	47.28%	34.35%	58.27%	198.04%	-46.43%
MSOX Advisorshares Msos 2x Daily ETF	-23.66%	-51.20%	-87.32%	-39.26%	-76.29%

Correlation

The correlation between TQQQ and MSOX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	0.22

TQQQ vs. MSOX - Sectors Allocation Comparison

Sectors	TQQQ	MSOX
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%	183.7%
Real Estate	0.1%	-

Return for Risk

TQQQ vs. MSOX — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 64
TQQQ Sharpe Ratio Rank: 75
TQQQ Sortino Ratio Rank: 59
TQQQ Omega Ratio Rank: 62
TQQQ Calmar Ratio Rank: 66
TQQQ Martin Ratio Rank: 59

MSOX

MSOX Risk / Return Rank: 25
MSOX Sharpe Ratio Rank: 12
MSOX Sortino Ratio Rank: 46
MSOX Omega Ratio Rank: 41
MSOX Calmar Ratio Rank: 15
MSOX Martin Ratio Rank: 13

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. MSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Advisorshares Msos 2x Daily ETF (MSOX). 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.

	TQQQ	MSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	0.17	+1.92
Sortino ratio: Return per unit of downside risk	2.42	2.05	+0.37
Omega ratio: Gain probability vs. loss probability	1.32	1.24	+0.09
Calmar ratio: Return relative to maximum drawdown	2.89	0.43	+2.46
Martin ratio: Return relative to average drawdown	9.26	0.65	+8.61

TQQQ vs. MSOX - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 2.09, which is higher than the MSOX Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of TQQQ and MSOX, 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

TQQQ vs. MSOX - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, smaller than the maximum MSOX drawdown of -99.75%. Use the drawdown chart below to compare losses from any high point for TQQQ and MSOX.

Drawdown Indicators

	TQQQ	MSOX	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-99.75%	+18.09%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-84.89%	+47.92%
Max Drawdown (3Y) Largest decline over 3 years	-58.04%	-98.83%	+40.79%
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	-11.12%	-99.50%	+88.38%
Average Drawdown Average peak-to-trough decline	-18.51%	-88.83%	+70.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.52%	56.03%	-44.51%

Volatility

TQQQ vs. MSOX - Volatility Comparison

The current volatility for ProShares UltraPro QQQ (TQQQ) is 22.79%, while Advisorshares Msos 2x Daily ETF (MSOX) has a volatility of 46.66%. This indicates that TQQQ experiences smaller price fluctuations and is considered to be less risky than MSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQQQ	MSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.79%	46.66%	-23.87%
Volatility (6M) Calculated over the trailing 6-month period	41.26%	155.67%	-114.41%
Volatility (1Y) Calculated over the trailing 1-year period	51.24%	220.30%	-169.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.02%	168.37%	-101.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.22%	168.37%	-102.15%

TQQQ vs. MSOX - Expense Ratio Comparison

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

Dividends

TQQQ vs. MSOX - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.41%, while MSOX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.41%	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 MSOX in my portfolio?

TQQQ and MSOX have a correlation of 0.24, 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 MSOX?

MSOX has higher volatility (46.66%) compared to TQQQ (22.79%). In terms of maximum drawdown, TQQQ dropped -81.66% vs MSOX's -99.75%.

Which ETF is better, TQQQ or MSOX?

On 3-year performance, TQQQ leads with 59.79% vs -61.73% for MSOX. Both ETFs have the same 0.95% expense ratio. On volatility, TQQQ has been the lower-risk option at 22.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TQQQ or MSOX?

Over the 3-year period, TQQQ has performed better with a 59.79% return vs -61.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TQQQ or MSOX?

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

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

TQQQ has the higher dividend yield at 0.41%, compared with 0.00% for MSOX.

What is the main difference between TQQQ and MSOX?

They also come from different issuers: ProShares and AdvisorShares.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.09 vs 0.17), 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.