TSLW vs. TQQQ

Last updated Jun 24, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - TSLW is a Derivative Income fund actively managed by Roundhill, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). TSLW is actively managed, while TQQQ is passively managed. Over the past year, TSLW returned 4.70% vs 100.69% for TQQQ. A 0.59 correlation means they provide meaningful diversification when combined. TSLW charges 0.99%/yr vs 0.95%/yr for TQQQ.

Performance

TSLW vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLW achieves a -20.26% return, which is significantly lower than TQQQ's 41.43% return.

TSLW

• 1D: -7.13%
• 1M: -12.88%
• YTD: -20.26%
• 6M: -27.32%
• 1Y: 4.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -9.86%
• 1M: -4.37%
• YTD: 41.43%
• 6M: 35.75%
• 1Y: 100.69%
• 3Y*: 58.02%
• 5Y*: 21.47%
• 10Y*: 45.48%

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

TSLW vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-20.26%	35.28%
TQQQ ProShares UltraPro QQQ	41.43%	51.43%

Correlation

The correlation between TSLW and TQQQ is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 2, 2025	0.59

The correlation between TSLW and TQQQ has been stable across timeframes, ranging from 0.59 to 0.59 - a consistent structural relationship.

Return for Risk

TSLW vs. TQQQ — Risk / Return Rank

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

TSLW

TSLW Risk / Return Rank: 10
TSLW Sharpe Ratio Rank: 10
TSLW Sortino Ratio Rank: 12
TSLW Omega Ratio Rank: 11
TSLW Calmar Ratio Rank: 10
TSLW Martin Ratio Rank: 10

TQQQ

TQQQ Risk / Return Rank: 53
TQQQ Sharpe Ratio Rank: 58
TQQQ Sortino Ratio Rank: 47
TQQQ Omega Ratio Rank: 49
TQQQ Calmar Ratio Rank: 57
TQQQ Martin Ratio Rank: 52

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.

TSLW vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) 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.

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.

	TSLW	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.09	1.90	-1.81
Sortino ratio: Return per unit of downside risk	0.50	2.27	-1.77
Omega ratio: Gain probability vs. loss probability	1.06	1.30	-0.25
Calmar ratio: Return relative to maximum drawdown	0.13	2.74	-2.61
Martin ratio: Return relative to average drawdown	0.29	8.72	-8.43

TSLW vs. TQQQ - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.09, which is lower than the TQQQ Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of TSLW and TQQQ, 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

TSLW vs. TQQQ - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for TSLW and TQQQ.

Drawdown Indicators

	TSLW	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-81.66%	+45.86%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-36.97%	+1.17%
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	-28.14%	-14.65%	-13.49%
Average Drawdown Average peak-to-trough decline	-13.36%	-18.49%	+5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.51%	11.59%	+4.92%

Volatility

TSLW vs. TQQQ - Volatility Comparison

The current volatility for Roundhill TSLA WeeklyPay™ ETF (TSLW) is 17.21%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 27.27%. This indicates that TSLW experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLW	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.21%	27.27%	-10.06%
Volatility (6M) Calculated over the trailing 6-month period	34.09%	43.35%	-9.26%
Volatility (1Y) Calculated over the trailing 1-year period	53.51%	53.39%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.04%	67.41%	-11.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.04%	66.32%	-10.28%

TSLW vs. TQQQ - Expense Ratio Comparison

TSLW has a 0.99% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

TSLW vs. TQQQ - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 96.06%, more than TQQQ's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.42%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
TSLW Roundhill TSLA WeeklyPay™ ETF	96.06%	49.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLW and TQQQ in my portfolio?

TSLW and TQQQ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLW or TQQQ?

TQQQ has higher volatility (27.27%) compared to TSLW (17.21%). In terms of maximum drawdown, TSLW dropped -35.80% vs TQQQ's -81.66%.

Which ETF is better, TSLW or TQQQ?

On 1-year performance, TQQQ leads with 100.69% vs 4.70% for TSLW. On fees, TQQQ is cheaper at 0.95% per year. On volatility, TSLW has been the lower-risk option at 17.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLW or TQQQ?

Over the 1-year period, TQQQ has performed better with a 100.69% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 0.99% for TSLW.

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

TSLW has the higher dividend yield at 96.06%, compared with 0.42% for TQQQ.

What is the main difference between TSLW and TQQQ?

TSLW is categorized as Derivative Income, while TQQQ is Leveraged Equities. They also come from different issuers: Roundhill and ProShares. Their fees differ too: 0.99% for TSLW and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (1.90 vs 0.09), 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.