CLIX vs. SQQQ
CLIX (ProShares Long Online/Short Stores ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - CLIX is a Long-Short fund tracking the ProShares Long Online/Short Stores Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 5 years, CLIX returned -7.82%/yr vs -46.89%/yr for SQQQ. At a correlation of -0.66, they often move in opposite directions. CLIX charges 0.65%/yr vs 0.95%/yr for SQQQ.
Performance
CLIX vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, CLIX achieves a -8.57% return, which is significantly higher than SQQQ's -40.31% return.
CLIX
- 1D
- 0.70%
- 1M
- -5.51%
- YTD
- -8.57%
- 6M
- -8.64%
- 1Y
- 9.82%
- 3Y*
- 17.63%
- 5Y*
- -7.82%
- 10Y*
- —
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%
CLIX vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | -8.57% | 32.81% | 20.73% | 28.97% | -46.73% | -39.96% | 90.91% | 17.32% | 6.34% | -2.43% |
SQQQ ProShares UltraPro Short QQQ | -40.31% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -6.91% |
Correlation
The correlation between CLIX and SQQQ is -0.60, 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 | -0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | -0.66 |
The correlation between CLIX and SQQQ has been stable across timeframes, ranging from -0.67 to -0.60 - a consistent structural relationship.
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Return for Risk
CLIX vs. SQQQ — Risk / Return Rank
CLIX
SQQQ
CLIX vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Long Online/Short Stores ETF (CLIX) 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.
| CLIX | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.83 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.78 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | -0.96 | +1.47 |
| Martin ratioReturn relative to average drawdown | 1.29 | -1.81 | +3.10 |
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Drawdowns
CLIX vs. SQQQ - Drawdown Comparison
The maximum CLIX drawdown since its inception was -73.21%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for CLIX and SQQQ.
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Drawdown Indicators
| CLIX | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.21% | -100.00% | +26.79% |
Max Drawdown (1Y)Largest decline over 1 year | -19.57% | -63.52% | +43.95% |
Max Drawdown (3Y)Largest decline over 3 years | -21.18% | -92.51% | +71.33% |
Max Drawdown (5Y)Largest decline over 5 years | -68.22% | -97.27% | +29.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.98% | — |
Current DrawdownCurrent decline from peak | -45.99% | -100.00% | +54.01% |
Average DrawdownAverage peak-to-trough decline | -34.75% | -92.73% | +57.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.61% | 36.37% | -28.76% |
Volatility
CLIX vs. SQQQ - Volatility Comparison
The current volatility for ProShares Long Online/Short Stores ETF (CLIX) is 6.64%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. This indicates that CLIX 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.
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Volatility by Period
| CLIX | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 26.69% | -20.05% |
Volatility (6M)Calculated over the trailing 6-month period | 16.31% | 43.33% | -27.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 53.65% | -32.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.05% | 67.53% | -40.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.92% | 66.47% | -40.55% |
CLIX vs. SQQQ - Expense Ratio Comparison
CLIX has a 0.65% expense ratio, which is lower than SQQQ's 0.95% expense ratio.
Dividends
CLIX vs. SQQQ - Dividend Comparison
CLIX's dividend yield for the trailing twelve months is around 0.58%, less than SQQQ's 11.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | 0.58% | 0.46% | 0.46% | 0.00% | 0.00% | 0.00% | 1.33% | 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
CLIX and SQQQ have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.69%) compared to CLIX (6.64%). In terms of maximum drawdown, CLIX dropped -73.21% vs SQQQ's -100.00%.
On 5-year performance, CLIX leads with -7.82% vs -46.89% for SQQQ. On fees, CLIX is cheaper at 0.65% per year. On volatility, CLIX has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CLIX has performed better with a -7.82% return vs -46.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CLIX is cheaper with a 0.65% expense ratio, compared with 0.95% for SQQQ.
SQQQ has the higher dividend yield at 11.44%, compared with 0.58% for CLIX.
CLIX is categorized as Long-Short, while SQQQ is Leveraged Equities. CLIX tracks ProShares Long Online/Short Stores Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.65% for CLIX and 0.95% for SQQQ.
CLIX currently has the higher Sharpe Ratio (0.46 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.
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