QQQU +2x Direxion Daily Magnificent 7 Bull 2X ETF

QQQU

ETF +2x BULL standard
Direxion Daily Magnificent 7 Bull 2X ETF
Issuer: Direxion · Tracks: Magnificent 7 (MAGS) · Listed: 2024-03-06
Implied AUM
$73.1M
Last Close
$55.14
20260720
30d Avg Vol
65,055
Options
—
Realized return vs theoretical +2x Magnificent 7
Other leveraged products tracking Magnificent 7
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
MAGX +2x BULL Roundhill Roundhill Daily 2X Long Magnificent Seven ETF $55.9M 83,771

How QQQU works

QQQU targets +2x the daily return of Magnificent 7 — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on QQQU carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.