- Issuer
- ProShares
- Inception Date
- Jun 10, 2025
- Region
- North America (United States)
- Category
- Inverse Equities, Leveraged Equities
- Leveraged
- -2x
- Index Tracked
- Nasdaq-100 Mega Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Assets Under Management
- $1M
Share Price Chart
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Performance
QQDN Performance Chart
ProShares UltraShort QQQ Mega (QQDN) is down 10.8% since the beginning of the year. QQDN is currently trading at $23 per share.
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Returns By Period
ProShares UltraShort QQQ Mega (QQDN) has returned -10.75% so far this year and -42.56% over the past 12 months.
ProShares UltraShort QQQ Mega
- 1D
- -3.87%
- 1M
- 8.87%
- YTD
- -10.75%
- 6M
- -11.46%
- 1Y
- -42.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 7.87%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
QQDN Monthly Returns History
Based on dividend-adjusted daily data since Jun 12, 2025, QQDN's average daily return is -0.18%, while the average monthly return is -3.33%.
Historically, 46% of months were positive and 54% were negative. The best month was Feb 2026 with a return of +13.5%, while the worst month was Apr 2026 at -27.7%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 5 months.
On a daily basis, QQDN closed higher 43% of trading days. The best single day was Oct 10, 2025 with a return of +7.3%, while the worst single day was Mar 31, 2026 at -8.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.69% | 13.49% | 7.82% | -27.67% | -12.62% | 12.39% | -10.75% | ||||||
| 2025 | -9.18% | -11.29% | -2.74% | -12.46% | -11.34% | 1.06% | 6.53% | -34.51% |
Benchmark Metrics
ProShares UltraShort QQQ Mega has an annualized alpha of 15.08%, beta of -2.77, and R2 of 0.76 versus S&P 500 Index. Calculated based on daily prices since June 12, 2025.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -974.78%), but participation in market rallies was also limited (-148.66%) - a profile typical of counter-cyclical assets.
- This ETF generated an annualized alpha of 15.08% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of -2.77 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 15.08%
- Beta
- -2.77
- R²
- 0.76
- Upside Capture
- -148.66%
- Downside Capture
- -974.78%
Expense Ratio
QQDN has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
QQDN ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares UltraShort QQQ Mega (QQDN) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QQDN | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.00 | ||
| Sortino ratioReturn per unit of downside risk | -4.27 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.35 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 2.66 | -3.49 |
| Martin ratioReturn relative to average drawdown | -1.28 | 11.86 | -13.15 |
Dividends
Dividend History
ProShares UltraShort QQQ Mega provided a 4.56% dividend yield over the last twelve months, with an annual payout of $1.03 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.03 | $0.87 |
Dividend yield | 4.56% | 3.42% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares UltraShort QQQ Mega. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.00 | $0.16 | ||||||
| 2025 | $0.25 | $0.00 | $0.00 | $0.63 | $0.87 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares UltraShort QQQ Mega. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares UltraShort QQQ Mega was 50.19%, occurring on May 14, 2026. The portfolio has not yet recovered.
The current ProShares UltraShort QQQ Mega drawdown is 42.69%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -50.19%May 2026 | 11mo 2d | — | 1y 7dJun 2025 - now |
2025 selloff2025 | -0.56%Jun 2025 | 0s | 1d | 1dJun 2025 - Jun 2025 |
Drawdown Indicators
| QQDN | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.19% | -56.78% | +6.59% |
Max Drawdown (1Y)Largest decline over 1 year | -50.08% | -9.10% | -40.98% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -42.69% | -2.49% | -40.20% |
Average DrawdownAverage peak-to-trough decline | -30.56% | -10.72% | -19.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.52% | 2.03% | +30.49% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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