DDM vs. QQQ

Last updated Aug 6, 2026

DDM (ProShares Ultra Dow30) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - DDM is a Leveraged Equities fund tracking the Dow Jones Industrial Average Index (200%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, DDM returned 20.08%/yr vs 20.75%/yr for QQQ. Their 0.76 correlation means they have sometimes moved together and sometimes differently. DDM charges 0.95%/yr vs 0.18%/yr for QQQ.

Performance

DDM vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Dow30 (DDM) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDM achieves a 24.32% return, which is significantly higher than QQQ's 17.04% return. Both investments have delivered pretty close results over the past 10 years, with DDM having a 20.08% annualized return and QQQ not far ahead at 20.75%.

DDM

• 1D: 0.86%
• 1M: 4.37%
• 6M: 17.92%
• YTD: 24.32%
• 1Y: 45.60%
• 3Y*: 27.53%
• 5Y*: 14.31%
• 10Y*: 20.08%
• ALL TIME*: 14.76%

QQQ

• 1D: -0.90%
• 1M: -0.76%
• 6M: 18.69%
• YTD: 17.04%
• 1Y: 28.64%
• 3Y*: 25.18%
• 5Y*: 14.96%
• 10Y*: 20.75%
• ALL TIME*: 10.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DDM ProShares Ultra Dow30	$16.79M	$13.61M	$11.73M
QQQ Invesco QQQ ETF	$34.07B	$28.96B	$31.85B

DDM vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDM ProShares Ultra Dow30	24.32%	20.59%	21.60%	24.34%	-19.48%	41.97%	2.14%	47.98%	-13.46%	59.56%
QQQ Invesco QQQ ETF	17.04%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between DDM and QQQ is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.71
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.76

The correlation between DDM and QQQ shifts across timeframes, from 0.62 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

DDM vs. QQQ - Sectors Allocation Comparison

Sectors	DDM	QQQ
Financial Services	27.0%	0.2%
Industrials	17.9%	2.7%
Technology	16.3%	60.9%
Healthcare	13.4%	3.6%
Consumer Cyclical	10.4%	10.7%
Communication Services	5.2%	13.1%
Basic Materials	4.0%	1.0%
Consumer Defensive	3.9%	6.3%
Energy	1.9%	0.5%
Real Estate	-	0.1%
Utilities	-	1.1%

Return for Risk

DDM vs. QQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DDM

DDM Risk / Return Rank: 64
DDM Sharpe Ratio Rank: 70
DDM Sortino Ratio Rank: 67
DDM Omega Ratio Rank: 63
DDM Calmar Ratio Rank: 59
DDM Martin Ratio Rank: 64

QQQ

QQQ Risk / Return Rank: 54
QQQ Sharpe Ratio Rank: 52
QQQ Sortino Ratio Rank: 50
QQQ Omega Ratio Rank: 49
QQQ Calmar Ratio Rank: 60
QQQ Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DDM vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Dow30 (DDM) and Invesco QQQ ETF (QQQ). 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.

	DDM	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.47	+0.35
Sortino ratio: Return per unit of downside risk	2.50	2.05	+0.45
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.05
Calmar ratio: Return relative to maximum drawdown	2.37	2.40	-0.03
Martin ratio: Return relative to average drawdown	8.73	7.62	+1.10

DDM vs. QQQ - Sharpe Ratio Comparison

The current DDM Sharpe Ratio is 1.82, which is comparable to the QQQ Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of DDM and QQQ, 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

DDM vs. QQQ - Drawdown Comparison

The maximum DDM drawdown since its inception was -81.70%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for DDM and QQQ.

Drawdown Indicators

	DDM	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-81.70%	-82.97%	+1.27%
Max Drawdown (1Y) Largest decline over 1 year	-19.31%	-11.96%	-7.35%
Max Drawdown (3Y) Largest decline over 3 years	-31.62%	-22.77%	-8.85%
Max Drawdown (5Y) Largest decline over 5 years	-40.18%	-35.12%	-5.06%
Max Drawdown (10Y) Largest decline over 10 years	-63.13%	-35.12%	-28.01%
Current Drawdown Current decline from peak	0.00%	-3.76%	+3.76%
Average Drawdown Average peak-to-trough decline	-17.20%	-32.61%	+15.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.24%	3.77%	+1.47%

Volatility

DDM vs. QQQ - Volatility Comparison

ProShares Ultra Dow30 (DDM) has a higher volatility of 8.29% compared to Invesco QQQ ETF (QQQ) at 7.44%. This indicates that DDM's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDM	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.29%	7.44%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	20.01%	16.38%	+3.63%
Volatility (1Y) Calculated over the trailing 1-year period	25.12%	19.56%	+5.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.67%	22.97%	+6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.78%	22.53%	+12.25%

DDM vs. QQQ - Expense Ratio Comparison

DDM has a 0.95% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

DDM vs. QQQ - Dividend Comparison

DDM's dividend yield for the trailing twelve months is around 0.87%, more than QQQ's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDM ProShares Ultra Dow30	0.87%	0.94%	1.00%	0.27%	0.83%	0.18%	0.31%	0.62%	0.89%	0.68%	1.08%	1.23%
QQQ Invesco QQQ ETF	0.42%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both DDM and QQQ in my portfolio?

DDM and QQQ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDM or QQQ?

DDM has higher volatility (8.29%) compared to QQQ (7.44%). In terms of maximum drawdown, DDM dropped -81.70% vs QQQ's -82.97%.

Which ETF is better, DDM or QQQ?

On 10-year performance, QQQ leads with 20.75% vs 20.08% for DDM. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 7.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDM or QQQ?

Over the 10-year period, QQQ has performed better with a 20.75% return vs 20.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDM or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.95% for DDM.

Which ETF pays a higher dividend yield, DDM or QQQ?

DDM has the higher dividend yield at 0.87%, compared with 0.42% for QQQ.

What is the main difference between DDM and QQQ?

DDM is categorized as Leveraged Equities, while QQQ is Nasdaq-100. DDM tracks Dow Jones Industrial Average Index (200%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for DDM and 0.18% for QQQ.

Which has better risk-adjusted returns?

DDM currently has the higher Sharpe Ratio (1.82 vs 1.47), 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.