COIA vs. SQQQ
COIA (ProShares Ultra COIN) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - COIA tracks the Coinbase Global, Inc. while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. At a correlation of -0.59, they often move in opposite directions. COIA charges 1.06%/yr vs 0.95%/yr for SQQQ.
Performance
COIA vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, COIA achieves a -66.12% return, which is significantly lower than SQQQ's -40.31% return.
COIA
- 1D
- -8.21%
- 1M
- -30.46%
- YTD
- -66.12%
- 6M
- -70.67%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 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%
COIA vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
COIA ProShares Ultra COIN | -66.12% | -58.83% |
SQQQ ProShares UltraPro Short QQQ | -40.31% | -16.56% |
Correlation
The correlation between COIA and SQQQ is -0.59, 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 (All Time) Calculated using the full available price history since Sep 10, 2025 | -0.59 |
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Return for Risk
COIA vs. SQQQ — Risk / Return Rank
COIA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SQQQ
COIA vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra COIN (COIA) 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.
| COIA | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.78 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.96 | — |
| Martin ratioReturn relative to average drawdown | — | -1.81 | — |
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Drawdowns
COIA vs. SQQQ - Drawdown Comparison
The maximum COIA drawdown since its inception was -90.45%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for COIA and SQQQ.
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Drawdown Indicators
| COIA | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.45% | -100.00% | +9.55% |
Max Drawdown (1Y)Largest decline over 1 year | — | -63.52% | — |
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 DrawdownCurrent decline from peak | -89.97% | -100.00% | +10.03% |
Average DrawdownAverage peak-to-trough decline | -63.40% | -92.73% | +29.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 36.37% | — |
Volatility
COIA vs. SQQQ - Volatility Comparison
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Volatility by Period
| COIA | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 26.69% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 43.33% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 139.95% | 53.65% | +86.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 139.95% | 67.53% | +72.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 139.95% | 66.47% | +73.48% |
COIA vs. SQQQ - Expense Ratio Comparison
COIA has a 1.06% expense ratio, which is higher than SQQQ's 0.95% expense ratio.
Dividends
COIA vs. SQQQ - Dividend Comparison
COIA's dividend yield for the trailing twelve months is around 5.27%, less than SQQQ's 11.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COIA ProShares Ultra COIN | 5.27% | 1.10% | 0.00% | 0.00% | 0.00% | 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
COIA and SQQQ have a correlation of -0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SQQQ is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SQQQ is cheaper with a 0.95% expense ratio, compared with 1.06% for COIA.
SQQQ has the higher dividend yield at 11.44%, compared with 5.27% for COIA.
COIA tracks Coinbase Global, Inc., while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 1.06% for COIA and 0.95% for SQQQ.
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