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MIDU vs TQQQ

Direxion Daily Mid Cap Bull 3X ETF

MIDUCNYSE Arca

ProShares UltraPro QQQ

TQQQANasdaq

Overlap

Expense ratio

TQQQ −0.20pt a year

MIDU0.98%TQQQ0.78%

Avg volume · 30D

TQQQ 2942.3×the volume

MIDU19.6KTQQQ57.5M

10Y return · a year

TQQQ +27.2pt

MIDU+10.7%TQQQ+37.9%

MIDU vs TQQQ Performance

Oct 29, 2021 – Oct 30, 2026

−3.5%MIDU+64.2%TQQQ

Oct 29, 2021 to Oct 30, 2026. MIDU −3.5%. TQQQ +64.2%. Use the arrow keys to read each point.−50%100%Oct 2021Apr 2024Oct 2026
Expense ratio
MIDU 0.98%
TQQQ 0.78%, better
Fund size
MIDU $64M
TQQQ $32.1B
1Y total return
MIDU +27.2%, better
TQQQ +7.1%
Yield (12M)
MIDU 0.46%
TQQQ 0.78%, better
Holdings
MIDU 406
TQQQ 116
Avg volume (30D)
MIDU 19.6K sh
TQQQ 57.5M sh, better
NAV per share
MIDU $64.14
TQQQ $61.97
52W range

ETF.net Grade

MIDU: Cost 38, Risk 68, Mission not scored, Tradability 26, Holdings not scored, Durability 48. TQQQ: Cost 97, Risk 57, Mission 84, Tradability 97, Holdings not scored, Durability 79.
Pillar letters and Scores for MIDU, TQQQ, with each pillar’s weight
PillarMIDUTQQQ
Cost30% weightD38A97Higher
Mission25% weightNot scoredA84
Risk15% weightB68HigherB57
Tradability15% weightD26A97Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC48A79Higher

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MIDU and TQQQ are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

TQQQ ranks 1st and MIDU 19th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AUDOWProShares UltraPro Dow30Score 81
  3. Rank 18CDRNDirexion Daily Real Estate Bull 3X ETFScore 44
  4. Rank 19CMIDUDirexion Daily Mid Cap Bull 3X ETFScore 42
  5. Rank 20CTNADirexion Daily Small Cap Bull 3X ETFScore 41

Our read on each fund

ETF.net Research

MIDUCDirexion Daily Mid Cap Bull 3X ETF

TQQQAProShares UltraPro QQQ

In short

MIDU Most 3x money chases the Nasdaq-100 and semiconductors. MIDU aims the same engine at the forgotten middle: 300% of the daily move of the S&P MidCap 400, and it has been doing that since 2009.

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

MIDU The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the S&P Mid Cap 400 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

  • MIDU One job, stated plainly: 300% of the S&P MidCap 400's daily move, roughly 400 mid-sized US companies, reset every trading day.direxion.com
  • Leveraged mid-cap exposure is a thin shelf in a category crowded with tech and sector bets. MIDU has stocked it since January 2009.direxion.com
  • Costs 0.98% net of a waiver through September 1, 2027 (0.99% gross), which sits near the median fee for 3x funds.
  • 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

  • MIDU The 3x target resets daily. Hold longer than a day and results can drift well away from 3x the index, especially through choppy, back-and-forth markets.direxion.com
  • It trades thinly next to the category's headline names, so bid-ask spreads and limit orders matter more here than in SOXL or TQQQ.
  • Cheaper 3x options exist, pointed elsewhere: SOXL at 0.75% and TQQQ at 0.78%, each net of a waiver (through September 1, 2027 and September 30, 2027).
  • 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 MIDU profile⁠

Full TQQQ profile⁠

MIDU vs TQQQ Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MIDU vs TQQQ Cost

Overpaying MIDU vs TQQQ

$3,360

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MIDU 0.98%

    $18,362

  • TQQQ 0.78%

    $15,002

$10,000
30 years

Cost over time

  • MIDU 0.98%
  • TQQQ 0.78%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530MIDU $18,362TQQQ $15,002

Year by year

YearMIDUTQQQOverpaying
10$1,729$1,388$341
20$6,504$5,268$1,236
30$18,362$15,002$3,360

Expense ratio

  • 0.98%MIDU
  • 0.78%TQQQ, cheaper
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

TQQQ 2nd cheapest of 30 funds

MIDU 18th cheapest of 30 funds

MIDU vs TQQQ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MIDU 0.46%
TQQQ 0.78%, better
Payout (12M)
MIDU $0.28
TQQQ $0.48
Last payment
MIDU $0.01
TQQQ $0.16
Ex-dividend
MIDU Sep 22, 2026
TQQQ Sep 23, 2026
Paid on
MIDU Sep 29, 2026
TQQQ Sep 29, 2026
Frequency
MIDU Quarterly
TQQQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MIDUQuarterly · 23 paymentsAll MIDU payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Dec 13, 2017 $1.17; Sep 25, 2018 $0.03; Dec 27, 2018 $0.16; Jun 25, 2019 $0.18; Dec 23, 2019 $0.17; Jun 23, 2020 $0.01; Dec 22, 2020 $0.01; Dec 20, 2022 $0.04; Mar 21, 2023 $0.10; Jun 21, 2023 $0.21; Sep 19, 2023 $0.04; Dec 21, 2023 $0.28; Mar 19, 2024 $0.05; Jun 25, 2024 $0.25; Sep 24, 2024 $0.15; Dec 23, 2024 $0.13; Mar 25, 2025 $0.17; Jun 24, 2025 $0.21; Sep 23, 2025 $0.09; Dec 23, 2025 $0.06; Mar 24, 2026 $0.09; Jun 23, 2026 $0.11; Sep 22, 2026 $0.01. Use the arrow keys to read each point.$0$12017202020232026YTD
TQQQQuarterly · 14 paymentsAll TQQQ payments⁠
One bar per payment. 14 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.0051; Mar 20, 2019 $0.0025; Dec 24, 2019 $0.0039; Dec 23, 2020 $0.000035; Dec 22, 2022 $0.05; Jun 26, 2024 $0.14; Dec 23, 2024 $0.14; Mar 26, 2025 $0.10; Jun 25, 2025 $0.11; Sep 24, 2025 $0.05; Dec 24, 2025 $0.09; Mar 25, 2026 $0.07; Jun 24, 2026 $0.17; Sep 23, 2026 $0.16. Use the arrow keys to read each point.$0$12017202020232026YTD

MIDU vs TQQQ Risk

Fall from peak · 5 years

  • MIDU
  • TQQQ
Oct 29, 2021 to Oct 30, 2026. Worst fall: TQQQ −81.7% · Dec 2022. Use the arrow keys to read each point.−80%−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
MIDU 46.5%, betterTQQQ 56.9%
Return per unit of riskSharpe ratio, 3 years
MIDU 0.72TQQQ 0.98, better
Worst fallMax drawdown, 5 years
MIDU −64.1%, betterTQQQ −81.7%
Market sensitivityBeta, 5 years
MIDU 3.06TQQQ 3.71

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