DIA vs. SQQQ

Last updated Jul 21, 2026

DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, DIA returned 12.96%/yr vs -54.75%/yr for SQQQ. At a correlation of -0.75, they often move in opposite directions. DIA charges 0.16%/yr vs 0.95%/yr for SQQQ.

Performance

DIA vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) 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, DIA achieves a 8.61% return, which is significantly higher than SQQQ's -36.18% return. Over the past 10 years, DIA has outperformed SQQQ with an annualized return of 12.96%, while SQQQ has yielded a comparatively lower -54.75% annualized return.

DIA

• 1D: -0.55%
• 1M: 0.50%
• 6M: 5.75%
• YTD: 8.61%
• 1Y: 18.61%
• 3Y*: 15.60%
• 5Y*: 10.19%
• 10Y*: 12.96%
• ALL TIME*: 9.13%

SQQQ

• 1D: -0.26%
• 1M: 17.99%
• 6M: -34.34%
• YTD: -36.18%
• 1Y: -51.42%
• 3Y*: -51.15%
• 5Y*: -45.04%
• 10Y*: -54.75%
• ALL TIME*: -52.82%

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

DIA vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	8.61%	14.71%	14.82%	16.02%	-7.02%	20.83%	9.59%	24.70%	-3.74%	28.08%
SQQQ ProShares UltraPro Short QQQ	-36.18%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-58.67%

Correlation

The correlation between DIA and SQQQ is -0.62, 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	-0.62
Correlation (3Y) Calculated over the trailing 3-year period	-0.64
Correlation (5Y) Calculated over the trailing 5-year period	-0.71
Correlation (10Y) Calculated over the trailing 10-year period	-0.71
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	-0.75

The correlation between DIA and SQQQ shifts across timeframes, from -0.75 (all time) to -0.62 (1 year), reflecting how their relationship changes across market environments.

DIA vs. SQQQ - Sectors Allocation Comparison

Sectors	DIA	SQQQ
Financial Services	26.7%	113.3%
Industrials	18.9%	-
Technology	16.1%	-
Healthcare	13.2%	-
Consumer Cyclical	10.3%	-
Communication Services	5.2%	-
Basic Materials	3.9%	-
Consumer Defensive	3.9%	-
Energy	1.9%	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DIA vs. SQQQ — Risk / Return Rank

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

DIA

DIA Risk / Return Rank: 59
DIA Sharpe Ratio Rank: 62
DIA Sortino Ratio Rank: 65
DIA Omega Ratio Rank: 60
DIA Calmar Ratio Rank: 50
DIA Martin Ratio Rank: 58

SQQQ

SQQQ Risk / Return Rank: 2
SQQQ Sharpe Ratio Rank: 2
SQQQ Sortino Ratio Rank: 2
SQQQ Omega Ratio Rank: 2
SQQQ Calmar Ratio Rank: 2
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.

DIA vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) 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.

	DIA	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.53	-0.92	+2.45
Sortino ratio: Return per unit of downside risk	2.26	-1.42	+3.69
Omega ratio: Gain probability vs. loss probability	1.27	0.85	+0.43
Calmar ratio: Return relative to maximum drawdown	1.92	-0.84	+2.76
Martin ratio: Return relative to average drawdown	7.39	-1.53	+8.91

DIA vs. SQQQ - Sharpe Ratio Comparison

The current DIA Sharpe Ratio is 1.53, which is higher than the SQQQ Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of DIA 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

DIA vs. SQQQ - Drawdown Comparison

The maximum DIA drawdown since its inception was -51.87%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DIA and SQQQ.

Drawdown Indicators

	DIA	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-51.87%	-100.00%	+48.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-61.03%	+51.27%
Max Drawdown (3Y) Largest decline over 3 years	-15.95%	-92.51%	+76.56%
Max Drawdown (5Y) Largest decline over 5 years	-20.76%	-97.27%	+76.51%
Max Drawdown (10Y) Largest decline over 10 years	-36.70%	-99.97%	+63.27%
Current Drawdown Current decline from peak	-2.26%	-100.00%	+97.74%
Average Drawdown Average peak-to-trough decline	-7.11%	-92.76%	+85.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	33.69%	-31.16%

Volatility

DIA vs. SQQQ - Volatility Comparison

The current volatility for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) is 2.21%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 21.99%. This indicates that DIA 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

	DIA	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	21.99%	-19.78%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	46.34%	-36.68%
Volatility (1Y) Calculated over the trailing 1-year period	12.27%	56.15%	-43.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.78%	67.92%	-53.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	66.60%	-49.09%

DIA vs. SQQQ - Expense Ratio Comparison

DIA has a 0.16% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

DIA vs. SQQQ - Dividend Comparison

DIA's dividend yield for the trailing twelve months is around 1.39%, less than SQQQ's 9.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.39%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%
SQQQ ProShares UltraPro Short QQQ	9.36%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIA and SQQQ in my portfolio?

DIA and SQQQ 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, DIA or SQQQ?

SQQQ has higher volatility (21.99%) compared to DIA (2.21%). In terms of maximum drawdown, DIA dropped -51.87% vs SQQQ's -100.00%.

Which ETF is better, DIA or SQQQ?

On 10-year performance, DIA leads with 12.96% vs -54.75% for SQQQ. On fees, DIA is cheaper at 0.16% per year. On volatility, DIA has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIA or SQQQ?

Over the 10-year period, DIA has performed better with a 12.96% return vs -54.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIA or SQQQ?

DIA is cheaper with a 0.16% expense ratio, compared with 0.95% for SQQQ.

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

SQQQ has the higher dividend yield at 9.36%, compared with 1.39% for DIA.

What is the main difference between DIA and SQQQ?

DIA is categorized as Large Cap Blend Equities, while SQQQ is Leveraged Equities. DIA tracks Dow Jones Industrial Average, while SQQQ tracks NASDAQ-100 Index (-300%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.16% for DIA and 0.95% for SQQQ.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (1.53 vs -0.92), 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.