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 -4.13%/yr vs -44.46%/yr for SQQQ. Their -0.65 correlation means they have often moved in opposite directions in the past. 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 -0.57% return, which is significantly higher than SQQQ's -34.61% return.
CLIX
- 1D
- 4.48%
- 1M
- 6.07%
- 6M
- 1.59%
- YTD
- -0.57%
- 1Y
- 12.03%
- 3Y*
- 16.69%
- 5Y*
- -4.13%
- 10Y*
- —
- ALL TIME*
- 4.99%
SQQQ
- 1D
- -1.99%
- 1M
- 9.46%
- 6M
- -32.40%
- YTD
- -34.61%
- 1Y
- -52.32%
- 3Y*
- -49.83%
- 5Y*
- -44.46%
- 10Y*
- -54.48%
- ALL TIME*
- -52.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $28.27K | $42.87K | $29.25K | |
| $2.40B | $2.29B | $2.66B |
CLIX vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | -0.57% | 32.81% | 20.73% | 28.97% | -46.73% | -39.96% | 90.91% | 17.32% | 6.34% | -2.43% |
SQQQ ProShares UltraPro Short QQQ | -34.61% | -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 -0.57, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.57 |
Correlation (3Y) Balances recent behavior with more history. | -0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | -0.65 |
The correlation between CLIX and SQQQ has been stable across timeframes, ranging from -0.67 to -0.57 - 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 | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.86 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | -0.81 | +1.21 |
| Martin ratioReturn relative to average drawdown | 0.95 | -1.41 | +2.37 |
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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% | -61.03% | +41.46% |
Max Drawdown (3Y)Largest decline over 3 years | -21.18% | -92.51% | +71.33% |
Max Drawdown (5Y)Largest decline over 5 years | -63.54% | -97.27% | +33.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.97% | — |
Current DrawdownCurrent decline from peak | -41.26% | -100.00% | +58.74% |
Average DrawdownAverage peak-to-trough decline | -34.86% | -92.78% | +57.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 35.08% | -26.93% |
Volatility
CLIX vs. SQQQ - Volatility Comparison
The current volatility for ProShares Long Online/Short Stores ETF (CLIX) is 6.82%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 20.82%. 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 | 6.82% | 20.82% | -14.00% |
Volatility (6M)Calculated over the trailing 6-month period | 17.43% | 48.09% | -30.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.42% | 57.98% | -35.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.87% | 68.18% | -41.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.89% | 66.74% | -40.85% |
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 0.53%, less than SQQQ's 9.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | 0.53% | 0.46% | 0.46% | 0.00% | 0.00% | 0.00% | 1.33% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 9.14% | 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 -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (20.82%) compared to CLIX (6.82%). In terms of maximum drawdown, CLIX dropped -73.21% vs SQQQ's -100.00%.
On 5-year performance, CLIX leads with -4.13% vs -44.46% for SQQQ. On fees, CLIX is cheaper at 0.65% per year. On volatility, CLIX has been the lower-risk option at 6.82%. 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 -4.13% return vs -44.46%. 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 9.14%, compared with 0.53% 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 (0.35 vs -0.86), 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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