XTL vs. TQQQ

Last updated Jun 3, 2026

XTL (SPDR S&P Telecom ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - XTL is a Communications Equities fund tracking the S&P Telecom Select Industry Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, XTL returned 16.95%/yr vs 45.44%/yr for TQQQ. A 0.65 correlation means they provide meaningful diversification when combined. XTL charges 0.35%/yr vs 0.95%/yr for TQQQ.

Performance

XTL vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Telecom ETF (XTL) 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, XTL achieves a 62.17% return, which is significantly lower than TQQQ's 65.71% return. Over the past 10 years, XTL has underperformed TQQQ with an annualized return of 16.95%, while TQQQ has yielded a comparatively higher 45.44% annualized return.

XTL

• 1D: 3.28%
• 1M: 8.43%
• YTD: 62.17%
• 6M: 70.46%
• 1Y: 143.57%
• 3Y*: 50.79%
• 5Y*: 20.95%
• 10Y*: 16.95%

TQQQ

• 1D: 1.37%
• 1M: 33.57%
• YTD: 65.71%
• 6M: 58.23%
• 1Y: 145.30%
• 3Y*: 69.92%
• 5Y*: 29.86%
• 10Y*: 45.44%

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

XTL vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XTL SPDR S&P Telecom ETF	62.17%	44.95%	34.89%	-1.17%	-19.18%	21.58%	22.46%	12.51%	-6.60%	0.56%
TQQQ ProShares UltraPro QQQ	65.71%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between XTL and TQQQ is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 28, 2011	0.65

The correlation between XTL and TQQQ has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.

XTL vs. TQQQ - Sectors Allocation Comparison

Sectors	XTL	TQQQ
Technology	61.4%	53.8%
Communication Services	36.1%	15.8%
Real Estate	2.6%	0.1%
Basic Materials	-	1.1%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Industrials	-	2.8%
Utilities	-	1.4%

Return for Risk

XTL vs. TQQQ — Risk / Return Rank

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

XTL

XTL Risk / Return Rank: 96
XTL Sharpe Ratio Rank: 97
XTL Sortino Ratio Rank: 95
XTL Omega Ratio Rank: 94
XTL Calmar Ratio Rank: 96
XTL Martin Ratio Rank: 97

TQQQ

TQQQ Risk / Return Rank: 75
TQQQ Sharpe Ratio Rank: 89
TQQQ Sortino Ratio Rank: 69
TQQQ Omega Ratio Rank: 68
TQQQ Calmar Ratio Rank: 79
TQQQ Martin Ratio Rank: 71

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.

XTL vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Telecom ETF (XTL) 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.

	XTL	TQQQ	Difference
Sharpe ratio Return per unit of total volatility	5.02	3.07	+1.95
Sortino ratio Return per unit of downside risk	5.29	3.19	+2.11
Omega ratio Gain probability vs. loss probability	1.70	1.42	+0.28
Calmar ratio Return relative to maximum drawdown	9.91	4.08	+5.83
Martin ratio Return relative to average drawdown	45.66	13.38	+32.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTL vs. TQQQ - Sharpe Ratio Comparison

The current XTL Sharpe Ratio is 5.02, which is higher than the TQQQ Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of XTL 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.

Sharpe Ratios by Period

	XTL	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.02	3.07	+1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.45	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.69	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.74	-0.20

Drawdowns

XTL vs. TQQQ - Drawdown Comparison

The maximum XTL drawdown since its inception was -37.01%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for XTL and TQQQ.

Drawdown Indicators

	XTL	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-37.01%	-81.66%	+44.65%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-36.97%	+22.27%
Max Drawdown (3Y) Largest decline over 3 years	-22.79%	-58.04%	+35.25%
Max Drawdown (5Y) Largest decline over 5 years	-37.01%	-81.66%	+44.65%
Max Drawdown (10Y) Largest decline over 10 years	-37.01%	-81.66%	+44.65%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.77%	-18.53%	+8.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	11.28%	-8.09%

Volatility

XTL vs. TQQQ - Volatility Comparison

The current volatility for SPDR S&P Telecom ETF (XTL) is 8.05%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.26%. This indicates that XTL 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

	XTL	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.05%	13.26%	-5.21%
Volatility (6M) Calculated over the trailing 6-month period	22.61%	36.05%	-13.44%
Volatility (1Y) Calculated over the trailing 1-year period	28.78%	47.63%	-18.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.04%	66.55%	-41.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.51%	65.98%	-42.47%

XTL vs. TQQQ - Expense Ratio Comparison

XTL has a 0.35% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

XTL vs. TQQQ - Dividend Comparison

XTL's dividend yield for the trailing twelve months is around 0.80%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.36%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
XTL SPDR S&P Telecom ETF	0.80%	1.05%	0.62%	0.80%	0.74%	1.25%	0.88%	0.92%	1.90%	2.08%	1.11%	1.38%

Frequently Asked Questions

Can I hold both XTL and TQQQ in my portfolio?

XTL and TQQQ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTL or TQQQ?

TQQQ has higher volatility (13.26%) compared to XTL (8.05%). In terms of maximum drawdown, XTL dropped -37.01% vs TQQQ's -81.66%.

Which ETF is better, XTL or TQQQ?

On 10-year performance, TQQQ leads with 45.44% vs 16.95% for XTL. On fees, XTL is cheaper at 0.35% per year. On volatility, XTL has been the lower-risk option at 8.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTL or TQQQ?

Over the 10-year period, TQQQ has performed better with a 45.44% return vs 16.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTL or TQQQ?

XTL is cheaper with a 0.35% expense ratio, compared with 0.95% for TQQQ.

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

XTL has the higher dividend yield at 0.80%, compared with 0.36% for TQQQ.

What is the main difference between XTL and TQQQ?

XTL is categorized as Communications Equities, while TQQQ is Leveraged Equities. XTL tracks S&P Telecom Select Industry Index, while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.35% for XTL and 0.95% for TQQQ.

Which has better risk-adjusted returns?

XTL currently has the higher Sharpe Ratio (5.02 vs 3.07), 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.