EURL vs TQQQ

EURLDDirexion Daily FTSE Europe Bull 3X ETF

TQQQAProShares UltraPro QQQ

In short

EURL Most 3x bull funds point at US indexes and sectors. EURL aims the same machinery at Europe, seeking 300% of the FTSE Developed Europe All Cap Index's move for one day at a time, at 1.04% net of a waiver through September 1, 2027.

TQQQ The original 3x Nasdaq-100 trade, live since 2010. Leverage resets every day, chasing three times the index's one-day move, and it is one of the most heavily traded names in its corner of the market.

Stated mandate

EURL The fund seeks a daily return equal to 300% of the FTSE Developed Europe All Cap Index's performance, before fees and expenses. Its objective applies to a single day rather than longer cumulative periods.

TQQQ The fund seeks daily investment results, before fees and expenses, equal to three times the daily performance of the Nasdaq-100 Index.

Why people hold it

• EURL A single-ticker way to take a leveraged swing at Europe: 3x daily exposure to a broad all-cap developed-Europe index rather than a sector sliver or a basket of ADRs.direxion.com
• Running since 2014, so the structure has a long live history on the tape, not a backtest, through more than a decade of European politics and rate cycles.direxion.com
• The mandate is refreshingly blunt: 300% of the index for a single day, reset daily, with Direxion's own documents saying not to expect 3x over longer stretches.direxion.com

• TQQQ Costs 0.78% net of a waiver through September 30, 2027 (0.94% gross), below the median fee for 3x bull funds and below stablemate UDOW at 0.94% with no waiver.
• A multi-billion-dollar fund and one of the busiest tickers in the leveraged space, which matters when a daily-reset position needs to be entered or exited quickly.
• Delivers its stated 3x daily target with close day-to-day fidelity, one of the stronger implementations among 3x bull funds.proshares.com
• Straightforward plumbing: it rebalances exposure to the Nasdaq-100 each day, raising it as the index rises and cutting it as the index falls.sec.gov

Worth knowing

• EURL Cost sits above the category's typical 3x fee: 1.04% net of a waiver through September 1, 2027 (1.05% gross), versus SOXL at 0.75% net of its own waiver to September 1, 2027.
• A small fund that trades thinly next to the lineup's headline tickers, which tends to show up as wider bid-ask spreads around the quoted price.
• Daily reset makes multi-day results path-dependent: a choppy round trip in the index can leave the fund lower even if the index ends flat.direxion.com

• TQQQ The prospectus is blunt: this seeks results for a single day only. Hold longer and compounding takes over, so multi-day results can land far from 3x the index move, especially in choppy tape.sec.gov
• Triple exposure cuts both ways. A rough day for the Nasdaq-100 hits roughly three times as hard here, which is why this scores as one of the riskier structures on our books.
• The fee break is contractual, not permanent. Should the waiver lapse after September 30, 2027, the cost reverts toward the 0.94% gross rate.

Full EURL profile⁠

Full TQQQ profile⁠