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DUG vs. SQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DUG vs. SQQQ

Last updated Jun 4, 2026

DUG (ProShares UltraShort Oil & Gas) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - DUG tracks the DJ Global United States (All) / Oil & Gas -IND (-200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, DUG returned -32.42%/yr vs -56.01%/yr for SQQQ. At a 0.40 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

DUG vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Oil & Gas (DUG) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with DUG having a -44.70% return and SQQQ slightly lower at -45.27%. Over the past 10 years, DUG has outperformed SQQQ with an annualized return of -32.42%, while SQQQ has yielded a comparatively lower -56.01% annualized return.

DUG

1D
-2.67%
1M
1.02%
YTD
-44.70%
6M
-42.64%
1Y
-53.44%
3Y*
-28.46%
5Y*
-38.28%
10Y*
-32.42%

SQQQ

1D
0.76%
1M
-26.37%
YTD
-45.27%
6M
-42.79%
1Y
-65.16%
3Y*
-56.19%
5Y*
-49.17%
10Y*
-56.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DUG vs. SQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DUG
ProShares UltraShort Oil & Gas		-44.70%-18.63%-6.13%-2.28%-72.98%-68.12%-24.59%-23.47%36.14%-1.09%
SQQQ
ProShares UltraPro Short QQQ		-45.27%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%

Correlation

The correlation between DUG and SQQQ is -0.16, 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

-0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.05

Correlation (5Y)
Calculated over the trailing 5-year period

0.17

Correlation (10Y)
Calculated over the trailing 10-year period

0.27

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2010

0.40

The correlation between DUG and SQQQ shifts across timeframes, from -0.16 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.

DUG vs. SQQQ - Sectors Allocation Comparison

Sectors
DUG
SQQQ

Financial Services

35.8%
97.1%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

DUG
35.8%
SQQQ
97.1%

Basic Materials

DUG

-

SQQQ

-

Communication Services

DUG

-

SQQQ

-

Consumer Cyclical

DUG

-

SQQQ

-

Consumer Defensive

DUG

-

SQQQ

-

Energy

DUG

-

SQQQ

-

Healthcare

DUG

-

SQQQ

-

Industrials

DUG

-

SQQQ

-

Real Estate

DUG

-

SQQQ

-

Technology

DUG

-

SQQQ

-

Utilities

DUG

-

SQQQ

-

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ProShares UltraShort Oil & Gas

ProShares UltraPro Short QQQ

Often compared with DUG:
DUG vs. DIGDUG vs. DRIPDUG vs. ERYDUG vs. NRGDDUG vs. ERXDUG vs. SPYDUG vs. WTIU
Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. UVXYSQQQ vs. SPXUSQQQ vs. QID

Return for Risk

DUG vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DUG
DUG Risk / Return Rank: 11
Overall Rank
DUG Sharpe Ratio Rank: 00
Sharpe Ratio Rank
DUG Sortino Ratio Rank: 00
Sortino Ratio Rank
DUG Omega Ratio Rank: 11
Omega Ratio Rank
DUG Calmar Ratio Rank: 11
Calmar Ratio Rank
DUG Martin Ratio Rank: 11
Martin Ratio Rank
SQQQ
SQQQ Risk / Return Rank: 00
Overall Rank
SQQQ Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 00
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 00
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 00
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 00
Martin Ratio Rank
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.

DUG vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Oil & Gas (DUG) 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.

DUGSQQQDifference
Sharpe ratioReturn per unit of total volatility
-1.31
-1.37

+0.06

Sortino ratioReturn per unit of downside risk
-2.28
-2.63

+0.35

Omega ratioGain probability vs. loss probability

0.77

0.72

+0.04

Calmar ratioReturn relative to maximum drawdown

-0.89

-0.99

+0.10

Martin ratioReturn relative to average drawdown

-1.60

-1.82

+0.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DUG vs. SQQQ - Sharpe Ratio Comparison

The current DUG Sharpe Ratio is -1.31, which is comparable to the SQQQ Sharpe Ratio of -1.37. The chart below compares the historical Sharpe Ratios of DUG 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.

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Sharpe Ratios by Period

DUGSQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.31

-1.37

+0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.74

-0.74

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.55

-0.85

+0.30

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.51

-0.88

+0.36

Drawdowns

DUG vs. SQQQ - Drawdown Comparison

The maximum DUG drawdown since its inception was -99.92%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DUG and SQQQ.

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Drawdown Indicators

DUGSQQQDifference

Max Drawdown

Largest peak-to-trough decline

-99.92%

-100.00%

+0.08%

Max Drawdown (1Y)

Largest decline over 1 year

-59.89%

-65.95%

+6.06%

Max Drawdown (3Y)

Largest decline over 3 years

-68.64%

-92.38%

+23.74%

Max Drawdown (5Y)

Largest decline over 5 years

-94.03%

-97.23%

+3.20%

Max Drawdown (10Y)

Largest decline over 10 years

-99.46%

-99.98%

+0.52%

Current Drawdown

Current decline from peak

-99.92%

-100.00%

+0.08%

Average Drawdown

Average peak-to-trough decline

-88.97%

-92.40%

+3.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

33.39%

35.73%

-2.34%

Volatility

DUG vs. SQQQ - Volatility Comparison

ProShares UltraShort Oil & Gas (DUG) has a higher volatility of 16.20% compared to ProShares UltraPro Short QQQ (SQQQ) at 13.75%. This indicates that DUG's price experiences larger fluctuations and is considered to be riskier than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

DUGSQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.20%

13.75%

+2.45%

Volatility (6M)

Calculated over the trailing 6-month period

32.96%

36.45%

-3.49%

Volatility (1Y)

Calculated over the trailing 1-year period

40.91%

47.79%

-6.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

51.59%

66.64%

-15.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

58.81%

66.11%

-7.30%

DUG vs. SQQQ - Expense Ratio Comparison

Both DUG and SQQQ have an expense ratio of 0.95%.

Dividends

DUG vs. SQQQ - Dividend Comparison

DUG's dividend yield for the trailing twelve months is around 4.99%, less than SQQQ's 12.48% yield.

PositionTTM202520242023202220212020201920182017
DUG
ProShares UltraShort Oil & Gas		4.99%3.21%5.66%4.16%0.28%0.00%0.10%0.56%0.29%0.00%
SQQQ
ProShares UltraPro Short QQQ		12.48%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%

Frequently Asked Questions

DUG and SQQQ have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DUG has higher volatility (16.20%) compared to SQQQ (13.75%). In terms of maximum drawdown, DUG dropped -99.92% vs SQQQ's -100.00%.

On 10-year performance, DUG leads with -32.42% vs -56.01% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SQQQ has been the lower-risk option at 13.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DUG has performed better with a -32.42% return vs -56.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DUG and SQQQ have the same expense ratio: 0.95% per year.

SQQQ has the higher dividend yield at 12.48%, compared with 4.99% for DUG.

DUG tracks DJ Global United States (All) / Oil & Gas -IND (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).

DUG currently has the higher Sharpe Ratio (-1.31 vs -1.37), 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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