QQQ vs TNA
Invesco QQQ Trust, Series 1 vs Direxion Daily Small Cap Bull 3X ETF
Quick Verdict
QQQ has a lower expense ratio. TNA delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | TNA | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 1.05% | |
| AUM | $496.3B | $1.4B | |
| Dividend Yield | 0.44% | 0.31% | |
| Holdings | 108 | 12 | |
| YTD Return | +16.64% | +56.10% | |
| 1Y Return | +27.27% | +96.25% | |
| 3Y Return (annualized) | +25.96% | +31.89% | |
| 5Y Return (annualized) | +14.54% | -2.09% | |
| Volatility (annualized) | 30.6% | 60.5% | |
| Max Drawdown | -83.0% | -88.2% | |
| Fund Family | Invesco (US) | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Nov 5, 2008 |
QQQ vs TNA Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Direxion Daily Small Cap Bull 3X ETF (TNA) is a ETF from Direxion Shares ETF Trust. Over the past year QQQ returned +27.27% while TNA returned +96.25%. Year to date, QQQ is up 16.64% versus a gain of 56.10% for TNA.
Over three years, QQQ compounded at +25.96% per year against +31.89% for TNA; over five years the annualized figures are +14.54% and -2.09% respectively. Across the full 18-year window we track, QQQ has the edge at +13.03% annualized vs +10.68%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TNA has been the more volatile fund, with annualized monthly volatility of 60.5% compared with 30.6% for QQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -83.0% for QQQ and -88.2% for TNA. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while TNA charges 1.05%. On a $10,000 position that is $18 vs $105 annually, a gap of $87 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.31% for TNA.
Holdings Overlap
QQQ and TNA share 0 holdings out of 107 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QQQ or TNA?
QQQ has an expense ratio of 0.18% while TNA charges 1.05%. QQQ is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, QQQ or TNA?
Over the past year QQQ returned +27.27% vs +96.25% for TNA, so TNA leads on 1-year performance. Over the longest common window we track (18 years), QQQ annualized +13.03% vs +10.68% for TNA. Past performance does not guarantee future results.
Which is riskier, QQQ or TNA?
TNA has been the more volatile fund at 60.5% annualized versus 30.6% for QQQ. Worst drawdown: QQQ -83.0% vs TNA -88.2%.
Should I hold both QQQ and TNA?
QQQ and TNA have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and TNA?
QQQ and TNA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 107 unique securities.
Which pays a higher dividend, QQQ or TNA?
QQQ yields 0.44% while TNA yields 0.31%, so QQQ currently pays the higher dividend yield.
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