WANT vs. QQQ
Compare and contrast key facts about Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) and Invesco QQQ (QQQ).
WANT and QQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WANT is a passively managed fund by Direxion that tracks the performance of the S&P Consumer Discretionary Select Sector Index (-300%). It was launched on Nov 29, 2018. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both WANT and QQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: WANT or QQQ.
Key characteristics
| WANT | QQQ | |
|---|---|---|
| YTD Return | 7.51% | 15.46% |
| 1Y Return | 20.11% | 28.15% |
| 3Y Return (Ann) | -19.77% | 8.77% |
| 5Y Return (Ann) | 3.13% | 20.70% |
| Sharpe Ratio | 0.33 | 1.58 |
| Daily Std Dev | 54.86% | 17.69% |
| Max Drawdown | -85.89% | -82.98% |
| Current Drawdown | -65.31% | -6.27% |
Correlation
The correlation between WANT and QQQ is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
WANT vs. QQQ - Performance Comparison
In the year-to-date period, WANT achieves a 7.51% return, which is significantly lower than QQQ's 15.46% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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WANT vs. QQQ - Expense Ratio Comparison
WANT has a 0.98% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Risk-Adjusted Performance
WANT vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) and Invesco QQQ (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.
Dividends
WANT vs. QQQ - Dividend Comparison
WANT's dividend yield for the trailing twelve months is around 0.66%, more than QQQ's 0.50% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WANT Direxion Daily Consumer Discretionary Bull 3X Shares | 0.66% | 0.46% | 0.00% | 0.00% | 0.07% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ | 0.50% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.01% |
Drawdowns
WANT vs. QQQ - Drawdown Comparison
The maximum WANT drawdown since its inception was -85.89%, roughly equal to the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for WANT and QQQ. For additional features, visit the drawdowns tool.
Volatility
WANT vs. QQQ - Volatility Comparison
Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 16.11% compared to Invesco QQQ (QQQ) at 5.90%. This indicates that WANT'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.