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TSMX vs. QQQE
Performance
Return for Risk
Dividends
Drawdowns
Volatility

TSMX vs. QQQE

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily TSM Bull 2X Shares (TSMX) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE).

TSMX and QQQE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TSMX is an actively managed fund by Direxion. It was launched on Oct 3, 2024. QQQE is a passively managed fund by Direxion that tracks the performance of the NASDAQ-100 Equal Weighted Index. It was launched on Mar 21, 2012.

Performance

TSMX vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSM Bull 2X Shares (TSMX) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

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TSMX vs. QQQE - Yearly Performance Comparison

2026 (YTD)20252024
TSMX
Direxion Daily TSM Bull 2X Shares		16.15%81.48%14.76%
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		-3.54%14.58%0.83%

Returns By Period

In the year-to-date period, TSMX achieves a 16.15% return, which is significantly higher than QQQE's -3.54% return.

TSMX

1D
13.81%
1M
-20.58%
YTD
16.15%
6M
30.27%
1Y
227.40%
3Y*
—
5Y*
—
10Y*
—

QQQE

1D
2.57%
1M
-5.09%
YTD
-3.54%
6M
-2.70%
1Y
13.72%
3Y*
11.59%
5Y*
6.19%
10Y*
13.22%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Direxion Daily TSM Bull 2X Shares

Direxion NASDAQ-100 Equal Weighted Index Shares

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Often compared with QQQE:
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TSMX vs. QQQE - Expense Ratio Comparison

TSMX has a 1.05% expense ratio, which is higher than QQQE's 0.35% expense ratio.

TSMX
Direxion Daily TSM Bull 2X Shares
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares

Return for Risk

TSMX vs. QQQE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TSMX
TSMX Risk / Return Rank: 9696
Overall Rank
TSMX Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
TSMX Sortino Ratio Rank: 9595
Sortino Ratio Rank
TSMX Omega Ratio Rank: 9191
Omega Ratio Rank
TSMX Calmar Ratio Rank: 9898
Calmar Ratio Rank
TSMX Martin Ratio Rank: 9797
Martin Ratio Rank
QQQE
QQQE Risk / Return Rank: 4343
Overall Rank
QQQE Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
QQQE Sortino Ratio Rank: 4242
Sortino Ratio Rank
QQQE Omega Ratio Rank: 4242
Omega Ratio Rank
QQQE Calmar Ratio Rank: 4646
Calmar Ratio Rank
QQQE Martin Ratio Rank: 4848
Martin Ratio Rank
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.

TSMX vs. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSM Bull 2X Shares (TSMX) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.

TSMXQQQEDifference

Sharpe ratio

Return per unit of total volatility

2.95

0.67

+2.28

Sortino ratio

Return per unit of downside risk

3.08

1.11

+1.97

Omega ratio

Gain probability vs. loss probability

1.39

1.16

+0.23

Calmar ratio

Return relative to maximum drawdown

6.59

1.08

+5.51

Martin ratio

Return relative to average drawdown

20.50

4.38

+16.13

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSMX vs. QQQE - Sharpe Ratio Comparison

The current TSMX Sharpe Ratio is 2.95, which is higher than the QQQE Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of TSMX and QQQE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

TSMXQQQEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.95

0.67

+2.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.31

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.64

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.01

0.68

+0.33

Correlation

The correlation between TSMX and QQQE is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TSMX vs. QQQE - Dividend Comparison

TSMX's dividend yield for the trailing twelve months is around 7.11%, more than QQQE's 0.64% yield.

TTM20252024202320222021202020192018201720162015
TSMX
Direxion Daily TSM Bull 2X Shares		7.11%8.01%0.53%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		0.64%0.52%0.86%0.79%0.98%3.83%0.54%0.74%0.80%0.65%1.17%0.57%

Drawdowns

TSMX vs. QQQE - Drawdown Comparison

The maximum TSMX drawdown since its inception was -63.80%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for TSMX and QQQE.

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Drawdown Indicators

TSMXQQQEDifference

Max Drawdown

Largest peak-to-trough decline

-63.80%

-32.14%

-31.66%

Max Drawdown (1Y)

Largest decline over 1 year

-34.93%

-12.74%

-22.19%

Max Drawdown (5Y)

Largest decline over 5 years

—

-32.14%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.14%

—

Current Drawdown

Current decline from peak

-25.94%

-7.08%

-18.86%

Average Drawdown

Average peak-to-trough decline

-16.74%

-5.22%

-11.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.22%

3.13%

+8.09%

Volatility

TSMX vs. QQQE - Volatility Comparison

Direxion Daily TSM Bull 2X Shares (TSMX) has a higher volatility of 29.06% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 5.68%. This indicates that TSMX's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TSMXQQQEDifference

Volatility (1M)

Calculated over the trailing 1-month period

29.06%

5.68%

+23.38%

Volatility (6M)

Calculated over the trailing 6-month period

54.61%

11.03%

+43.58%

Volatility (1Y)

Calculated over the trailing 1-year period

77.49%

20.46%

+57.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

81.26%

20.33%

+60.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

81.26%

20.71%

+60.55%