ARE vs. TQQQ

Last updated Jun 5, 2026

ARE (Alexandria Real Estate Equities, Inc.) is a stock, while TQQQ (ProShares UltraPro QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Over the past 10 years, ARE returned -2.36%/yr vs 44.95%/yr for TQQQ. At a 0.42 correlation, their price movements are largely independent.

Performance

ARE vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alexandria Real Estate Equities, Inc. (ARE) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARE achieves a 10.26% return, which is significantly lower than TQQQ's 61.91% return. Over the past 10 years, ARE has underperformed TQQQ with an annualized return of -2.36%, while TQQQ has yielded a comparatively higher 44.95% annualized return.

ARE

• 1D: 3.61%
• 1M: 21.28%
• YTD: 10.26%
• 6M: 17.53%
• 1Y: -19.73%
• 3Y*: -18.63%
• 5Y*: -18.58%
• 10Y*: -2.36%

TQQQ

• 1D: -1.55%
• 1M: 26.46%
• YTD: 61.91%
• 6M: 54.01%
• 1Y: 132.34%
• 3Y*: 68.49%
• 5Y*: 27.97%
• 10Y*: 44.95%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARE vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARE Alexandria Real Estate Equities, Inc.	10.26%	-46.60%	-19.44%	-9.11%	-32.62%	28.09%	13.27%	44.04%	-8.97%	20.95%
TQQQ ProShares UltraPro QQQ	61.91%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between ARE and TQQQ is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010	0.42

The correlation between ARE and TQQQ shifts across timeframes, from 0.27 (3 years) to 0.42 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ARE vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARE

ARE Risk / Return Rank: 25
ARE Sharpe Ratio Rank: 22
ARE Sortino Ratio Rank: 23
ARE Omega Ratio Rank: 22
ARE Calmar Ratio Rank: 29
ARE Martin Ratio Rank: 30

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 67
TQQQ Omega Ratio Rank: 66
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARE vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alexandria Real Estate Equities, Inc. (ARE) and ProShares UltraPro QQQ (TQQQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARE	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.45	2.80	-3.25
Sortino ratio: Return per unit of downside risk	-0.34	3.01	-3.36
Omega ratio: Gain probability vs. loss probability	0.95	1.39	-0.44
Calmar ratio: Return relative to maximum drawdown	-0.38	3.60	-3.98
Martin ratio: Return relative to average drawdown	-0.62	11.77	-12.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARE vs. TQQQ - Sharpe Ratio Comparison

The current ARE Sharpe Ratio is -0.45, which is lower than the TQQQ Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of ARE and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARE	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.45	2.80	-3.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.57	0.42	-0.99
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	0.68	-0.77
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.74	-0.50

Drawdowns

ARE vs. TQQQ - Drawdown Comparison

The maximum ARE drawdown since its inception was -77.92%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for ARE and TQQQ.

Drawdown Indicators

	ARE	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-77.92%	-81.66%	+3.74%
Max Drawdown (1Y) Largest decline over 1 year	-51.61%	-36.97%	-14.64%
Max Drawdown (3Y) Largest decline over 3 years	-65.64%	-58.04%	-7.60%
Max Drawdown (5Y) Largest decline over 5 years	-77.92%	-81.66%	+3.74%
Max Drawdown (10Y) Largest decline over 10 years	-77.92%	-81.66%	+3.74%
Current Drawdown Current decline from peak	-70.98%	-2.29%	-68.69%
Average Drawdown Average peak-to-trough decline	-17.71%	-18.52%	+0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.99%	11.28%	+20.71%

Volatility

ARE vs. TQQQ - Volatility Comparison

Alexandria Real Estate Equities, Inc. (ARE) and ProShares UltraPro QQQ (TQQQ) have volatilities of 12.92% and 13.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARE	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.92%	13.35%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	32.66%	36.04%	-3.38%
Volatility (1Y) Calculated over the trailing 1-year period	43.67%	47.60%	-3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.96%	66.50%	-33.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.15%	65.95%	-36.80%

Dividends

ARE vs. TQQQ - Dividend Comparison

ARE's dividend yield for the trailing twelve months is around 7.68%, more than TQQQ's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARE Alexandria Real Estate Equities, Inc.	7.68%	9.56%	5.32%	3.91%	3.24%	2.01%	2.38%	2.48%	3.24%	2.64%	2.91%	3.38%
TQQQ ProShares UltraPro QQQ	0.37%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both ARE and TQQQ in my portfolio?

ARE and TQQQ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARE or TQQQ?

TQQQ has higher volatility (13.35%) compared to ARE (12.92%). In terms of maximum drawdown, ARE dropped -77.92% vs TQQQ's -81.66%.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.80 vs -0.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.