MEXX vs TQQQ

MEXXFDirexion Daily MSCI Mexico Bull 3X ETF

TQQQAProShares UltraPro QQQ

In short

MEXX While the category's heavyweights lever up US tech and Treasuries, MEXX points 3x daily leverage at Mexico: 300% of the MSCI Mexico IMI 25/50 Index's daily move, at 1.23% 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

MEXX The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the MSCI Mexico IMI 25/50 Index.

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

• MEXX Aims for 300% of the MSCI Mexico IMI 25/50 Index's daily move, a broad read on Mexican stocks across large, mid and small caps, with the leverage reset every day.direxion.com
• The index applies 25/50 capping rules, so no single Mexican giant swallows the basket, which matters in a market this top-heavy.msci.com
• Live since May 2017, so this is a seasoned wrapper rather than a new launch, and it pays distributions quarterly.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

• MEXX Costs 1.23% net of a waiver through September 1, 2027 (1.26% gross), above the category median and above SOXL's 0.75% net of a waiver through September 1, 2027.
• Daily reset means returns compound off each day's close, so multi-day results can diverge from 3x the index's move over that stretch, especially in choppy markets.direxion.com
• Thinly traded and small beside the category's giants, so spreads and limit orders deserve attention. Exposure rides on one country and one currency.

• 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 MEXX profile⁠

Full TQQQ profile⁠