BETH vs. SQQQ

Last updated Jun 26, 2026

BETH (ProShares Bitcoin & Ether Market Cap Weight Strategy ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - BETH is a Cryptocurrency fund actively managed by ProShares, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). BETH is actively managed, while SQQQ is passively managed. Over the past year, BETH returned -46.20% vs -59.41% for SQQQ. At a correlation of -0.40, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

BETH vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETH achieves a -36.08% return, which is significantly higher than SQQQ's -40.98% return.

BETH

• 1D: -0.96%
• 1M: -22.53%
• YTD: -36.08%
• 6M: -35.85%
• 1Y: -46.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SQQQ

• 1D: -2.42%
• 1M: 2.09%
• YTD: -40.98%
• 6M: -38.01%
• 1Y: -59.41%
• 3Y*: -54.63%
• 5Y*: -47.03%
• 10Y*: -56.54%

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

BETH vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	-36.08%	-11.20%	85.03%	39.34%
SQQQ ProShares UltraPro Short QQQ	-40.98%	-53.05%	-49.79%	-32.81%

Correlation

The correlation between BETH and SQQQ is -0.52, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.52
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	-0.40

The correlation between BETH and SQQQ shifts across timeframes, from -0.52 (1 year) to -0.40 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BETH vs. SQQQ — Risk / Return Rank

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

BETH

BETH Risk / Return Rank: 2
BETH Sharpe Ratio Rank: 2
BETH Sortino Ratio Rank: 2
BETH Omega Ratio Rank: 2
BETH Calmar Ratio Rank: 2
BETH Martin Ratio Rank: 2

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 0

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.

BETH vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and ProShares UltraPro Short QQQ (SQQQ). 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.

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.

	BETH	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.97	-1.11	+0.14
Sortino ratio: Return per unit of downside risk	-1.44	-1.98	+0.53
Omega ratio: Gain probability vs. loss probability	0.84	0.79	+0.05
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.96	+0.14
Martin ratio: Return relative to average drawdown	-1.38	-1.84	+0.46

BETH vs. SQQQ - Sharpe Ratio Comparison

The current BETH Sharpe Ratio is -0.97, which is comparable to the SQQQ Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of BETH and SQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETH vs. SQQQ - Drawdown Comparison

The maximum BETH drawdown since its inception was -56.81%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BETH and SQQQ.

Drawdown Indicators

	BETH	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-56.81%	-100.00%	+43.19%
Max Drawdown (1Y) Largest decline over 1 year	-56.81%	-62.23%	+5.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-92.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.98%	—
Current Drawdown Current decline from peak	-56.81%	-100.00%	+43.19%
Average Drawdown Average peak-to-trough decline	-18.42%	-92.73%	+74.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.40%	33.76%	-0.36%

Volatility

BETH vs. SQQQ - Volatility Comparison

The current volatility for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) is 13.97%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.22%. This indicates that BETH experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETH	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.97%	26.22%	-12.25%
Volatility (6M) Calculated over the trailing 6-month period	36.53%	43.25%	-6.72%
Volatility (1Y) Calculated over the trailing 1-year period	47.59%	53.47%	-5.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.17%	67.54%	-16.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.17%	66.45%	-15.28%

BETH vs. SQQQ - Expense Ratio Comparison

Both BETH and SQQQ have an expense ratio of 0.95%.

Dividends

BETH vs. SQQQ - Dividend Comparison

BETH's dividend yield for the trailing twelve months is around 63.94%, more than SQQQ's 10.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	63.94%	57.68%	19.71%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SQQQ ProShares UltraPro Short QQQ	10.12%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both BETH and SQQQ in my portfolio?

BETH and SQQQ have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BETH or SQQQ?

SQQQ has higher volatility (26.22%) compared to BETH (13.97%). In terms of maximum drawdown, BETH dropped -56.81% vs SQQQ's -100.00%.

Which ETF is better, BETH or SQQQ?

On 1-year performance, BETH leads with -46.20% vs -59.41% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, BETH has been the lower-risk option at 13.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETH or SQQQ?

Over the 1-year period, BETH has performed better with a -46.20% return vs -59.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETH or SQQQ?

BETH and SQQQ have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, BETH or SQQQ?

BETH has the higher dividend yield at 63.94%, compared with 10.12% for SQQQ.

What is the main difference between BETH and SQQQ?

BETH is categorized as Cryptocurrency, while SQQQ is Leveraged Equities.

Which has better risk-adjusted returns?

BETH currently has the higher Sharpe Ratio (-0.97 vs -1.11), 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.