TSLL vs. QQQ
TSLL (Direxion Daily TSLA Bull 2X ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - TSLL is a Leveraged Equities fund actively managed by Direxion, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. TSLL is actively managed, while QQQ is passively managed. Over the past 3 years, TSLL returned -18.07%/yr vs 25.18%/yr for QQQ. Their 0.61 correlation means they have sometimes moved together and sometimes differently. TSLL charges 0.83%/yr vs 0.18%/yr for QQQ.
Performance
TSLL vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, TSLL achieves a -58.70% return, which is significantly lower than QQQ's 17.04% return.
TSLL
- 1D
- -3.72%
- 1M
- -44.30%
- 6M
- -47.98%
- YTD
- -58.70%
- 1Y
- -23.30%
- 3Y*
- -18.07%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -22.49%
QQQ
- 1D
- -0.90%
- 1M
- -0.76%
- 6M
- 18.69%
- YTD
- 17.04%
- 1Y
- 28.64%
- 3Y*
- 25.18%
- 5Y*
- 14.96%
- 10Y*
- 20.75%
- ALL TIME*
- 10.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $34.07B | $28.96B | $31.85B | |
| $799.42M | $664.03M | $919.05M |
TSLL vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | -58.70% | -26.80% | 99.63% | 139.86% | -74.99% |
QQQ Invesco QQQ ETF | 17.04% | 20.77% | 25.58% | 54.86% | -16.62% |
Correlation
The correlation between TSLL and QQQ is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.61 |
The correlation between TSLL and QQQ has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
TSLL vs. QQQ - Sectors Allocation Comparison
Sectors
TSLL
QQQ
Consumer Cyclical
Basic Materials
-
Communication Services
-
Consumer Defensive
-
Energy
-
Financial Services
-
Healthcare
-
Industrials
-
Real Estate
-
Technology
-
Utilities
-
Consumer Cyclical
TSLL
QQQ
Basic Materials
TSLL
-
QQQ
Communication Services
TSLL
-
QQQ
Consumer Defensive
TSLL
-
QQQ
Energy
TSLL
-
QQQ
Financial Services
TSLL
-
QQQ
Healthcare
TSLL
-
QQQ
Industrials
TSLL
-
QQQ
Real Estate
TSLL
-
QQQ
Technology
TSLL
-
QQQ
Utilities
TSLL
-
QQQ
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Return for Risk
TSLL vs. QQQ — Risk / Return Rank
TSLL
QQQ
TSLL vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) and Invesco QQQ ETF (QQQ). 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.
| TSLL | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.26 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 2.40 | -2.74 |
| Martin ratioReturn relative to average drawdown | -0.72 | 7.62 | -8.34 |
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Drawdowns
TSLL vs. QQQ - Drawdown Comparison
The maximum TSLL drawdown since its inception was -82.88%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for TSLL and QQQ.
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Drawdown Indicators
| TSLL | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.88% | -82.97% | +0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -70.13% | -11.96% | -58.17% |
Max Drawdown (3Y)Largest decline over 3 years | -82.88% | -22.77% | -60.11% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | -79.15% | -3.76% | -75.39% |
Average DrawdownAverage peak-to-trough decline | -54.44% | -32.61% | -21.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.41% | 3.77% | +28.64% |
Volatility
TSLL vs. QQQ - Volatility Comparison
Direxion Daily TSLA Bull 2X ETF (TSLL) has a higher volatility of 38.99% compared to Invesco QQQ ETF (QQQ) at 7.44%. This indicates that TSLL's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLL | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 38.99% | 7.44% | +31.55% |
Volatility (6M)Calculated over the trailing 6-month period | 70.64% | 16.38% | +54.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 92.39% | 19.56% | +72.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 107.70% | 22.97% | +84.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 107.70% | 22.53% | +85.17% |
TSLL vs. QQQ - Expense Ratio Comparison
TSLL has a 0.83% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
TSLL vs. QQQ - Dividend Comparison
TSLL's dividend yield for the trailing twelve months is around 12.68%, more than QQQ's 0.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.42% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
TSLL Direxion Daily TSLA Bull 2X ETF | 12.68% | 5.00% | 2.47% | 4.44% | 1.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSLL and QQQ have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLL has higher volatility (38.99%) compared to QQQ (7.44%). In terms of maximum drawdown, TSLL dropped -82.88% vs QQQ's -82.97%.
On 3-year performance, QQQ leads with 25.18% vs -18.07% for TSLL. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 7.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QQQ has performed better with a 25.18% return vs -18.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 0.83% for TSLL.
TSLL has the higher dividend yield at 12.68%, compared with 0.42% for QQQ.
TSLL is categorized as Leveraged Equities, while QQQ is Nasdaq-100. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.83% for TSLL and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (1.47 vs -0.25), 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.
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