CLIX vs. TQQQ

Last updated Jun 4, 2026

CLIX (ProShares Long Online/Short Stores ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - CLIX is a Long-Short fund tracking the ProShares Long Online/Short Stores Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, CLIX returned -6.40%/yr vs 28.37%/yr for TQQQ. A 0.66 correlation means they provide meaningful diversification when combined. CLIX charges 0.65%/yr vs 0.95%/yr for TQQQ.

Performance

CLIX vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Long Online/Short Stores ETF (CLIX) 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, CLIX achieves a -6.21% return, which is significantly lower than TQQQ's 64.46% return.

CLIX

• 1D: -2.35%
• 1M: -6.73%
• YTD: -6.21%
• 6M: -6.37%
• 1Y: 12.94%
• 3Y*: 18.92%
• 5Y*: -6.40%
• 10Y*: —

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

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

CLIX vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLIX ProShares Long Online/Short Stores ETF	-6.21%	32.81%	20.73%	28.97%	-46.73%	-39.96%	90.91%	17.32%	6.34%	-2.09%
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	2.19%

Correlation

The correlation between CLIX and TQQQ is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Nov 17, 2017	0.66

The correlation between CLIX and TQQQ has been stable across timeframes, ranging from 0.60 to 0.67 - a consistent structural relationship.

CLIX vs. TQQQ - Sectors Allocation Comparison

Sectors	CLIX	TQQQ
Consumer Cyclical	94.8%	12.3%
Technology	3.6%	53.8%
Consumer Defensive	1.6%	7.7%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

CLIX vs. TQQQ — Risk / Return Rank

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

CLIX

CLIX Risk / Return Rank: 18
CLIX Sharpe Ratio Rank: 19
CLIX Sortino Ratio Rank: 18
CLIX Omega Ratio Rank: 18
CLIX Calmar Ratio Rank: 17
CLIX Martin Ratio Rank: 18

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
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.

CLIX vs. TQQQ - 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 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.

	CLIX	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.62	2.92	-2.29
Sortino ratio: Return per unit of downside risk	0.97	3.09	-2.12
Omega ratio: Gain probability vs. loss probability	1.12	1.40	-0.29
Calmar ratio: Return relative to maximum drawdown	0.66	3.75	-3.09
Martin ratio: Return relative to average drawdown	1.81	12.27	-10.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLIX vs. TQQQ - Sharpe Ratio Comparison

The current CLIX Sharpe Ratio is 0.62, which is lower than the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of CLIX 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

	CLIX	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	2.92	-2.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	0.43	-0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.74	-0.57

Drawdowns

CLIX vs. TQQQ - Drawdown Comparison

The maximum CLIX drawdown since its inception was -73.21%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for CLIX and TQQQ.

Drawdown Indicators

	CLIX	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-73.21%	-81.66%	+8.45%
Max Drawdown (1Y) Largest decline over 1 year	-19.57%	-36.97%	+17.40%
Max Drawdown (3Y) Largest decline over 3 years	-21.18%	-58.04%	+36.86%
Max Drawdown (5Y) Largest decline over 5 years	-68.22%	-81.66%	+13.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-44.59%	-0.76%	-43.83%
Average Drawdown Average peak-to-trough decline	-34.70%	-18.52%	-16.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.15%	11.28%	-4.13%

Volatility

CLIX vs. TQQQ - Volatility Comparison

The current volatility for ProShares Long Online/Short Stores ETF (CLIX) is 5.08%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.29%. This indicates that CLIX experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLIX	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	13.29%	-8.21%
Volatility (6M) Calculated over the trailing 6-month period	15.59%	36.04%	-20.45%
Volatility (1Y) Calculated over the trailing 1-year period	20.89%	47.60%	-26.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.94%	66.53%	-39.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.92%	65.96%	-40.04%

CLIX vs. TQQQ - Expense Ratio Comparison

CLIX has a 0.65% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

CLIX vs. TQQQ - Dividend Comparison

CLIX's dividend yield for the trailing twelve months is around 0.57%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLIX ProShares Long Online/Short Stores ETF	0.57%	0.46%	0.46%	0.00%	0.00%	0.00%	1.33%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.36%	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 CLIX and TQQQ in my portfolio?

CLIX and TQQQ 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.

Which is riskier, CLIX or TQQQ?

TQQQ has higher volatility (13.29%) compared to CLIX (5.08%). In terms of maximum drawdown, CLIX dropped -73.21% vs TQQQ's -81.66%.

Which ETF is better, CLIX or TQQQ?

On 5-year performance, TQQQ leads with 28.37% vs -6.40% for CLIX. On fees, CLIX is cheaper at 0.65% per year. On volatility, CLIX has been the lower-risk option at 5.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLIX or TQQQ?

Over the 5-year period, TQQQ has performed better with a 28.37% return vs -6.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLIX or TQQQ?

CLIX is cheaper with a 0.65% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, CLIX or TQQQ?

CLIX has the higher dividend yield at 0.57%, compared with 0.36% for TQQQ.

What is the main difference between CLIX and TQQQ?

CLIX is categorized as Long-Short, while TQQQ is Leveraged Equities. CLIX tracks ProShares Long Online/Short Stores Index, while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 0.65% for CLIX and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 vs 0.62), 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.