BIB vs. SQQQ

Last updated Jun 24, 2026

BIB (ProShares Ultra Nasdaq Biotechnology) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - BIB tracks the NASDAQ Biotechnology Index (200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, BIB returned 9.71%/yr vs -56.24%/yr for SQQQ. At a correlation of -0.62, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

BIB vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Biotechnology (BIB) 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, BIB achieves a 12.50% return, which is significantly higher than SQQQ's -40.31% return. Over the past 10 years, BIB has outperformed SQQQ with an annualized return of 9.71%, while SQQQ has yielded a comparatively lower -56.24% annualized return.

BIB

• 1D: 1.97%
• 1M: 9.49%
• YTD: 12.50%
• 6M: 8.62%
• 1Y: 100.86%
• 3Y*: 19.65%
• 5Y*: -0.74%
• 10Y*: 9.71%

SQQQ

• 1D: 9.83%
• 1M: -2.27%
• YTD: -40.31%
• 6M: -37.80%
• 1Y: -61.11%
• 3Y*: -53.86%
• 5Y*: -46.89%
• 10Y*: -56.24%

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

BIB vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIB ProShares Ultra Nasdaq Biotechnology	12.50%	59.21%	-9.84%	-1.06%	-28.85%	-6.02%	39.79%	46.71%	-24.93%	40.49%
SQQQ ProShares UltraPro Short QQQ	-40.31%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-58.67%

Correlation

The correlation between BIB and SQQQ is -0.37, 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	-0.37
Correlation (3Y) Calculated over the trailing 3-year period	-0.44
Correlation (5Y) Calculated over the trailing 5-year period	-0.53
Correlation (10Y) Calculated over the trailing 10-year period	-0.59
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010	-0.62

Over the past year, the inverse relationship between BIB and SQQQ has weakened: their correlation has moved from -0.62 to -0.37, meaning they move in opposite directions less often than they have historically.

BIB vs. SQQQ - Sectors Allocation Comparison

Sectors	BIB	SQQQ
Healthcare	62.9%	-
Financial Services	6.8%	122.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BIB vs. SQQQ — Risk / Return Rank

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

BIB

BIB Risk / Return Rank: 80
BIB Sharpe Ratio Rank: 83
BIB Sortino Ratio Rank: 73
BIB Omega Ratio Rank: 65
BIB Calmar Ratio Rank: 92
BIB Martin Ratio Rank: 88

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 0
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.

BIB vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Biotechnology (BIB) 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.

	BIB	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.51	-1.14	+3.65
Sortino ratio: Return per unit of downside risk	3.08	-2.07	+5.15
Omega ratio: Gain probability vs. loss probability	1.36	0.78	+0.59
Calmar ratio: Return relative to maximum drawdown	5.99	-0.96	+6.96
Martin ratio: Return relative to average drawdown	18.30	-1.81	+20.11

BIB vs. SQQQ - Sharpe Ratio Comparison

The current BIB Sharpe Ratio is 2.51, which is higher than the SQQQ Sharpe Ratio of -1.14. The chart below compares the historical Sharpe Ratios of BIB 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

BIB vs. SQQQ - Drawdown Comparison

The maximum BIB drawdown since its inception was -67.24%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BIB and SQQQ.

Drawdown Indicators

	BIB	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-67.24%	-100.00%	+32.76%
Max Drawdown (1Y) Largest decline over 1 year	-16.92%	-63.52%	+46.60%
Max Drawdown (3Y) Largest decline over 3 years	-45.30%	-92.51%	+47.21%
Max Drawdown (5Y) Largest decline over 5 years	-65.86%	-97.27%	+31.41%
Max Drawdown (10Y) Largest decline over 10 years	-66.20%	-99.98%	+33.78%
Current Drawdown Current decline from peak	-17.29%	-100.00%	+82.71%
Average Drawdown Average peak-to-trough decline	-32.71%	-92.73%	+60.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	36.37%	-30.84%

Volatility

BIB vs. SQQQ - Volatility Comparison

The current volatility for ProShares Ultra Nasdaq Biotechnology (BIB) is 13.56%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. This indicates that BIB 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

	BIB	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.56%	26.69%	-13.13%
Volatility (6M) Calculated over the trailing 6-month period	31.65%	43.33%	-11.68%
Volatility (1Y) Calculated over the trailing 1-year period	40.43%	53.65%	-13.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.60%	67.53%	-23.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.39%	66.47%	-20.08%

BIB vs. SQQQ - Expense Ratio Comparison

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

Dividends

BIB vs. SQQQ - Dividend Comparison

BIB's dividend yield for the trailing twelve months is around 0.55%, less than SQQQ's 11.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIB ProShares Ultra Nasdaq Biotechnology	0.55%	0.77%	1.69%	0.07%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%
SQQQ ProShares UltraPro Short QQQ	11.44%	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 BIB and SQQQ in my portfolio?

BIB and SQQQ have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIB or SQQQ?

SQQQ has higher volatility (26.69%) compared to BIB (13.56%). In terms of maximum drawdown, BIB dropped -67.24% vs SQQQ's -100.00%.

Which ETF is better, BIB or SQQQ?

On 10-year performance, BIB leads with 9.71% vs -56.24% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, BIB has been the lower-risk option at 13.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIB or SQQQ?

Over the 10-year period, BIB has performed better with a 9.71% return vs -56.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIB or SQQQ?

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

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

SQQQ has the higher dividend yield at 11.44%, compared with 0.55% for BIB.

What is the main difference between BIB and SQQQ?

BIB tracks NASDAQ Biotechnology Index (200%), while SQQQ tracks NASDAQ-100 Index (-300%).

Which has better risk-adjusted returns?

BIB currently has the higher Sharpe Ratio (2.51 vs -1.14), 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.