CTEX vs. SQQQ

Last updated Jul 14, 2026

CTEX (ProShares S&P Kensho Cleantech ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - CTEX is a Alternative Energy Equities fund tracking the S&P Kensho Cleantech Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 3 years, CTEX returned 3.77%/yr vs -51.78%/yr for SQQQ. At a correlation of -0.60, they often move in opposite directions. CTEX charges 0.58%/yr vs 0.95%/yr for SQQQ.

Performance

CTEX vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P Kensho Cleantech ETF (CTEX) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTEX achieves a 4.74% return, which is significantly higher than SQQQ's -40.27% return.

CTEX

• 1D: -3.75%
• 1M: -13.57%
• 6M: -4.37%
• YTD: 4.74%
• 1Y: 62.54%
• 3Y*: 3.77%
• 5Y*: —
• 10Y*: —

SQQQ

• 1D: 5.74%
• 1M: 1.37%
• 6M: -36.57%
• YTD: -40.27%
• 1Y: -56.10%
• 3Y*: -51.78%
• 5Y*: -45.66%
• 10Y*: -55.28%

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

CTEX vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CTEX ProShares S&P Kensho Cleantech ETF	4.74%	67.74%	-20.38%	-10.25%	-20.38%	-6.68%
SQQQ ProShares UltraPro Short QQQ	-40.27%	-53.05%	-49.79%	-73.61%	82.40%	-30.44%

Correlation

The correlation between CTEX and SQQQ is -0.63, 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	-0.63
Correlation (3Y) Calculated over the trailing 3-year period	-0.55
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	-0.60

The correlation between CTEX and SQQQ has been stable across timeframes, ranging from -0.63 to -0.55 - a consistent structural relationship.

CTEX vs. SQQQ - Sectors Allocation Comparison

Sectors	CTEX	SQQQ
Industrials	43.3%	-
Energy	37.5%	-
Utilities	13.0%	-
Technology	3.1%	-
Consumer Cyclical	2.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	109.1%
Healthcare	-	-
Real Estate	-	-

Return for Risk

CTEX vs. SQQQ — Risk / Return Rank

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

CTEX

CTEX Risk / Return Rank: 50
CTEX Sharpe Ratio Rank: 51
CTEX Sortino Ratio Rank: 48
CTEX Omega Ratio Rank: 46
CTEX Calmar Ratio Rank: 56
CTEX Martin Ratio Rank: 48

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 0

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.

CTEX vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Cleantech ETF (CTEX) 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.

	CTEX	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.39	-1.01	+2.41
Sortino ratio: Return per unit of downside risk	1.91	-1.69	+3.60
Omega ratio: Gain probability vs. loss probability	1.23	0.82	+0.42
Calmar ratio: Return relative to maximum drawdown	2.23	-0.92	+3.15
Martin ratio: Return relative to average drawdown	6.37	-1.71	+8.09

CTEX vs. SQQQ - Sharpe Ratio Comparison

The current CTEX Sharpe Ratio is 1.39, which is higher than the SQQQ Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of CTEX and SQQQ, 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

CTEX vs. SQQQ - Drawdown Comparison

The maximum CTEX drawdown since its inception was -70.31%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for CTEX and SQQQ.

Drawdown Indicators

	CTEX	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-70.31%	-100.00%	+29.69%
Max Drawdown (1Y) Largest decline over 1 year	-28.22%	-61.03%	+32.81%
Max Drawdown (3Y) Largest decline over 3 years	-56.83%	-92.51%	+35.68%
Max Drawdown (5Y) Largest decline over 5 years	—	-97.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.97%	—
Current Drawdown Current decline from peak	-28.22%	-100.00%	+71.78%
Average Drawdown Average peak-to-trough decline	-41.39%	-92.75%	+51.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.84%	32.78%	-22.94%

Volatility

CTEX vs. SQQQ - Volatility Comparison

The current volatility for ProShares S&P Kensho Cleantech ETF (CTEX) is 15.69%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.05%. This indicates that CTEX 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.

Volatility by Period

	CTEX	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.69%	26.05%	-10.36%
Volatility (6M) Calculated over the trailing 6-month period	33.66%	45.88%	-12.22%
Volatility (1Y) Calculated over the trailing 1-year period	45.21%	55.64%	-10.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.69%	67.87%	-24.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.69%	66.56%	-22.87%

CTEX vs. SQQQ - Expense Ratio Comparison

CTEX has a 0.58% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

CTEX vs. SQQQ - Dividend Comparison

CTEX's dividend yield for the trailing twelve months is around 2.00%, less than SQQQ's 10.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CTEX ProShares S&P Kensho Cleantech ETF	2.00%	2.17%	0.57%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SQQQ ProShares UltraPro Short QQQ	10.00%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both CTEX and SQQQ in my portfolio?

CTEX and SQQQ have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTEX or SQQQ?

SQQQ has higher volatility (26.05%) compared to CTEX (15.69%). In terms of maximum drawdown, CTEX dropped -70.31% vs SQQQ's -100.00%.

Which ETF is better, CTEX or SQQQ?

On 3-year performance, CTEX leads with 3.77% vs -51.78% for SQQQ. On fees, CTEX is cheaper at 0.58% per year. On volatility, CTEX has been the lower-risk option at 15.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTEX or SQQQ?

Over the 3-year period, CTEX has performed better with a 3.77% return vs -51.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTEX or SQQQ?

CTEX is cheaper with a 0.58% expense ratio, compared with 0.95% for SQQQ.

Which ETF pays a higher dividend yield, CTEX or SQQQ?

SQQQ has the higher dividend yield at 10.00%, compared with 2.00% for CTEX.

What is the main difference between CTEX and SQQQ?

CTEX is categorized as Alternative Energy Equities, while SQQQ is Leveraged Equities. CTEX tracks S&P Kensho Cleantech Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.58% for CTEX and 0.95% for SQQQ.

Which has better risk-adjusted returns?

CTEX currently has the higher Sharpe Ratio (1.39 vs -1.01), 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.