Correlation
The correlation between ^NDXT and TQQQ 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.
^NDXT vs. TQQQ
Compare and contrast key facts about NASDAQ 100 Technology Sector Index (^NDXT) and ProShares UltraPro QQQ (TQQQ).
TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^NDXT or TQQQ.
Performance
^NDXT vs. TQQQ - Performance Comparison
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Key characteristics
^NDXT:
0.11
TQQQ:
0.18
^NDXT:
0.25
TQQQ:
0.68
^NDXT:
1.03
TQQQ:
1.09
^NDXT:
0.01
TQQQ:
0.13
^NDXT:
0.04
TQQQ:
0.33
^NDXT:
9.89%
TQQQ:
22.59%
^NDXT:
32.98%
TQQQ:
75.89%
^NDXT:
-59.34%
TQQQ:
-81.66%
^NDXT:
-8.29%
TQQQ:
-24.49%
Returns By Period
In the year-to-date period, ^NDXT achieves a 2.93% return, which is significantly higher than TQQQ's -11.28% return. Over the past 10 years, ^NDXT has underperformed TQQQ with an annualized return of 15.75%, while TQQQ has yielded a comparatively higher 31.28% annualized return.
^NDXT
2.93%
8.28%
-1.40%
4.45%
14.50%
13.47%
15.75%
TQQQ
-11.28%
23.30%
-11.83%
13.44%
30.10%
28.60%
31.28%
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Risk-Adjusted Performance
^NDXT vs. TQQQ — Risk-Adjusted Performance Rank
^NDXT
TQQQ
^NDXT vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Technology Sector Index (^NDXT) 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.
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Drawdowns
^NDXT vs. TQQQ - Drawdown Comparison
The maximum ^NDXT drawdown since its inception was -59.34%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for ^NDXT and TQQQ.
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Volatility
^NDXT vs. TQQQ - Volatility Comparison
The current volatility for NASDAQ 100 Technology Sector Index (^NDXT) is 7.23%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 16.41%. This indicates that ^NDXT 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.
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