CRS vs. QLD

Last updated Jun 24, 2026

CRS (Carpenter Technology Corporation) is a stock, while QLD (ProShares Ultra QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Over the past 10 years, CRS returned 36.16%/yr vs 36.27%/yr for QLD. A 0.50 correlation means they provide meaningful diversification when combined.

Performance

CRS vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Carpenter Technology Corporation (CRS) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRS achieves a 83.81% return, which is significantly higher than QLD's 29.58% return. Both investments have delivered pretty close results over the past 10 years, with CRS having a 36.16% annualized return and QLD not far ahead at 36.27%.

CRS

• 1D: -1.64%
• 1M: 33.17%
• YTD: 83.81%
• 6M: 73.58%
• 1Y: 121.79%
• 3Y*: 125.51%
• 5Y*: 71.41%
• 10Y*: 36.16%

QLD

• 1D: -6.61%
• 1M: -2.02%
• YTD: 29.58%
• 6M: 26.13%
• 1Y: 66.80%
• 3Y*: 43.61%
• 5Y*: 21.41%
• 10Y*: 36.27%

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

CRS vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRS Carpenter Technology Corporation	83.81%	86.23%	141.72%	94.48%	29.50%	2.66%	-39.44%	42.12%	-29.16%	43.40%
QLD ProShares Ultra QQQ	29.58%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%

Correlation

The correlation between CRS and QLD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.50

The correlation between CRS and QLD shifts across timeframes, from 0.36 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CRS vs. QLD — Risk / Return Rank

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

CRS

CRS Risk / Return Rank: 92
CRS Sharpe Ratio Rank: 93
CRS Sortino Ratio Rank: 91
CRS Omega Ratio Rank: 90
CRS Calmar Ratio Rank: 95
CRS Martin Ratio Rank: 93

QLD

QLD Risk / Return Rank: 53
QLD Sharpe Ratio Rank: 58
QLD Sortino Ratio Rank: 49
QLD Omega Ratio Rank: 51
QLD Calmar Ratio Rank: 56
QLD Martin Ratio Rank: 54

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.

CRS vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Carpenter Technology Corporation (CRS) and ProShares Ultra QQQ (QLD). 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.

	CRS	QLD	Difference
Sharpe ratio: Return per unit of total volatility	2.54	1.88	+0.66
Sortino ratio: Return per unit of downside risk	3.30	2.33	+0.97
Omega ratio: Gain probability vs. loss probability	1.42	1.31	+0.11
Calmar ratio: Return relative to maximum drawdown	6.42	2.67	+3.75
Martin ratio: Return relative to average drawdown	15.12	9.05	+6.07

CRS vs. QLD - Sharpe Ratio Comparison

The current CRS Sharpe Ratio is 2.54, which is higher than the QLD Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of CRS and QLD, 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

CRS vs. QLD - Drawdown Comparison

The maximum CRS drawdown since its inception was -84.68%, roughly equal to the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for CRS and QLD.

Drawdown Indicators

	CRS	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-84.68%	-83.13%	-1.55%
Max Drawdown (1Y) Largest decline over 1 year	-19.08%	-25.13%	+6.05%
Max Drawdown (3Y) Largest decline over 3 years	-28.74%	-42.29%	+13.55%
Max Drawdown (5Y) Largest decline over 5 years	-41.86%	-63.68%	+21.82%
Max Drawdown (10Y) Largest decline over 10 years	-74.70%	-63.68%	-11.02%
Current Drawdown Current decline from peak	-1.64%	-9.26%	+7.62%
Average Drawdown Average peak-to-trough decline	-27.22%	-18.14%	-9.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.09%	7.40%	+0.69%

Volatility

CRS vs. QLD - Volatility Comparison

The current volatility for Carpenter Technology Corporation (CRS) is 10.56%, while ProShares Ultra QQQ (QLD) has a volatility of 18.22%. This indicates that CRS experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRS	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.56%	18.22%	-7.66%
Volatility (6M) Calculated over the trailing 6-month period	33.59%	28.95%	+4.64%
Volatility (1Y) Calculated over the trailing 1-year period	48.36%	35.77%	+12.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.62%	45.34%	+1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.80%	44.80%	+4.00%

Dividends

CRS vs. QLD - Dividend Comparison

CRS's dividend yield for the trailing twelve months is around 0.14%, more than QLD's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRS Carpenter Technology Corporation	0.14%	0.25%	0.47%	1.13%	2.17%	2.74%	2.75%	1.61%	2.13%	1.41%	1.99%	2.38%
QLD ProShares Ultra QQQ	0.13%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%

Frequently Asked Questions

Can I hold both CRS and QLD in my portfolio?

CRS and QLD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRS or QLD?

QLD has higher volatility (18.22%) compared to CRS (10.56%). In terms of maximum drawdown, CRS dropped -84.68% vs QLD's -83.13%.

Which has better risk-adjusted returns?

CRS currently has the higher Sharpe Ratio (2.54 vs 1.88), 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.