CULAX vs. TQQQ
CULAX (Calvert Ultra-Short Duration Income Fund) and TQQQ (ProShares UltraPro QQQ) are both funds - CULAX is a Ultrashort Bond fund managed by Calvert Research and Management, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Over the past 10 years, CULAX returned 2.46%/yr vs 47.00%/yr for TQQQ. At a 0.08 correlation, their price movements are largely independent. CULAX charges 0.72%/yr vs 0.95%/yr for TQQQ.
Performance
CULAX vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, CULAX achieves a 1.34% return, which is significantly lower than TQQQ's 56.90% return. Over the past 10 years, CULAX has underperformed TQQQ with an annualized return of 2.46%, while TQQQ has yielded a comparatively higher 47.00% annualized return.
CULAX
- 1D
- 0.10%
- 1M
- 0.31%
- YTD
- 1.34%
- 6M
- 1.77%
- 1Y
- 4.10%
- 3Y*
- 5.11%
- 5Y*
- 3.38%
- 10Y*
- 2.46%
TQQQ
- 1D
- -0.35%
- 1M
- 6.09%
- YTD
- 56.90%
- 6M
- 52.71%
- 1Y
- 129.55%
- 3Y*
- 63.58%
- 5Y*
- 24.47%
- 10Y*
- 47.00%
CULAX vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CULAX Calvert Ultra-Short Duration Income Fund | 1.34% | 4.55% | 5.69% | 6.07% | -0.56% | 0.43% | 0.66% | 3.30% | 1.15% | 1.27% |
TQQQ ProShares UltraPro QQQ | 56.90% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between CULAX and TQQQ is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.08 |
The correlation between CULAX and TQQQ shifts across timeframes, from 0.03 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CULAX vs. TQQQ — Risk / Return Rank
CULAX
TQQQ
CULAX vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calvert Ultra-Short Duration Income Fund (CULAX) 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.
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.
| CULAX | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +8.38 | ||
| Omega ratioGain probability vs. loss probability | 4.07 | 1.36 | +2.71 |
| Calmar ratioReturn relative to maximum drawdown | 13.63 | 3.53 | +10.10 |
| Martin ratioReturn relative to average drawdown | 55.94 | 11.25 | +44.69 |
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Drawdowns
CULAX vs. TQQQ - Drawdown Comparison
The maximum CULAX drawdown since its inception was -7.40%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for CULAX and TQQQ.
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Drawdown Indicators
| CULAX | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.40% | -81.66% | +74.26% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -36.97% | +36.67% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -58.04% | +57.74% |
Max Drawdown (5Y)Largest decline over 5 years | -2.19% | -81.66% | +79.47% |
Max Drawdown (10Y)Largest decline over 10 years | -7.40% | -81.66% | +74.26% |
Current DrawdownCurrent decline from peak | -0.00% | -5.32% | +5.32% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -18.50% | +18.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 11.56% | -11.49% |
Volatility
CULAX vs. TQQQ - Volatility Comparison
The current volatility for Calvert Ultra-Short Duration Income Fund (CULAX) is 0.34%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 25.07%. This indicates that CULAX 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.
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Volatility by Period
| CULAX | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 25.07% | -24.73% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 42.17% | -41.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.31% | 52.51% | -51.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.35% | 67.26% | -65.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.42% | 66.36% | -64.94% |
CULAX vs. TQQQ - Expense Ratio Comparison
CULAX has a 0.72% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Dividends
CULAX vs. TQQQ - Dividend Comparison
CULAX's dividend yield for the trailing twelve months is around 3.91%, more than TQQQ's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CULAX Calvert Ultra-Short Duration Income Fund | 3.91% | 4.13% | 4.90% | 4.52% | 1.47% | 0.64% | 1.25% | 2.44% | 2.10% | 1.13% | 1.10% | 0.66% |
TQQQ ProShares UltraPro QQQ | 0.38% | 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
CULAX and TQQQ have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (25.07%) compared to CULAX (0.34%). In terms of maximum drawdown, CULAX dropped -7.40% vs TQQQ's -81.66%.
CULAX currently has the higher Sharpe Ratio (3.15 vs 2.49), 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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