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EET vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EET vs. QQQ

Last updated Aug 2, 2026
Documentation

EET (ProShares Ultra MSCI Emerging Markets) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, EET returned 7.59%/yr vs 20.44%/yr for QQQ. Their 0.67 correlation means they have sometimes moved together and sometimes differently. EET charges 0.95%/yr vs 0.18%/yr for QQQ.

Performance

EET vs. QQQ - Performance Comparison

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

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Returns By Period

In the year-to-date period, EET achieves a 26.86% return, which is significantly higher than QQQ's 12.26% return. Over the past 10 years, EET has underperformed QQQ with an annualized return of 7.59%, while QQQ has yielded a comparatively higher 20.44% annualized return.

EET

1D
-0.53%
1M
-5.33%
6M
9.63%
YTD
26.86%
1Y
63.11%
3Y*
25.93%
5Y*
3.37%
10Y*
7.59%
ALL TIME*
4.07%

QQQ

1D
0.65%
1M
-3.45%
6M
10.89%
YTD
12.26%
1Y
24.81%
3Y*
22.29%
5Y*
14.23%
10Y*
20.44%
ALL TIME*
10.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EET

ProShares Ultra MSCI Emerging Markets
$613.50K$1.38M$1.59M

QQQ

Invesco QQQ ETF
$30.32B$28.40B$31.45B

EET vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EET
ProShares Ultra MSCI Emerging Markets		26.86%63.14%2.88%7.06%-43.07%-10.93%18.92%31.87%-33.84%82.41%
QQQ
Invesco QQQ ETF		12.26%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between EET and QQQ is 0.81, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.81

Correlation (3Y)
Balances recent behavior with more history.

0.68

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.66

Correlation (10Y)
Provides a long-term view across more market conditions.

0.66

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2009

0.67

The correlation between EET and QQQ shifts across timeframes, from 0.66 (5 years) to 0.81 (1 year), reflecting how their relationship changes across market environments.

EET vs. QQQ - Sectors Allocation Comparison

Sectors
EET
QQQ

Financial Services

57.7%
0.2%

Basic Materials

-

1.0%

Communication Services

-

13.1%

Consumer Cyclical

-

10.7%

Consumer Defensive

-

6.3%

Energy

-

0.5%

Healthcare

-

3.6%

Industrials

-

2.7%

Real Estate

-

0.1%

Technology

-

60.9%

Utilities

-

1.1%

Financial Services

EET
57.7%
QQQ
0.2%

Basic Materials

EET

-

QQQ
1.0%

Communication Services

EET

-

QQQ
13.1%

Consumer Cyclical

EET

-

QQQ
10.7%

Consumer Defensive

EET

-

QQQ
6.3%

Energy

EET

-

QQQ
0.5%

Healthcare

EET

-

QQQ
3.6%

Industrials

EET

-

QQQ
2.7%

Real Estate

EET

-

QQQ
0.1%

Technology

EET

-

QQQ
60.9%

Utilities

EET

-

QQQ
1.1%

Compare stocks, funds, or ETFs

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ProShares Ultra MSCI Emerging Markets

Invesco QQQ ETF

Often compared with EET:
EET vs. EFOEET vs. EDCEET vs. EEMEET vs. XPPEET vs. EEMAEET vs. SPEMEET vs. VOO
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. SPMO

Return for Risk

EET vs. QQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EET
EET Risk / Return Rank: 5454
Overall Rank
EET Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
EET Sortino Ratio Rank: 4848
Sortino Ratio Rank
EET Omega Ratio Rank: 5454
Omega Ratio Rank
EET Calmar Ratio Rank: 6363
Calmar Ratio Rank
EET Martin Ratio Rank: 5454
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 4949
Overall Rank
QQQ Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 4646
Sortino Ratio Rank
QQQ Omega Ratio Rank: 4545
Omega Ratio Rank
QQQ Calmar Ratio Rank: 5353
Calmar Ratio Rank
QQQ Martin Ratio Rank: 5252
Martin Ratio Rank
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.

EET vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) 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.

EETQQQDifference
Sharpe ratioReturn per unit of total volatility
1.22
1.16

+0.06

Sortino ratioReturn per unit of downside risk
1.73
1.65

+0.09

Omega ratioGain probability vs. loss probability

1.24

1.21

+0.03

Calmar ratioReturn relative to maximum drawdown

2.19

1.88

+0.32

Martin ratioReturn relative to average drawdown

6.43

6.00

+0.43

EET vs. QQQ - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 1.22, which is comparable to the QQQ Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of EET 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.

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Drawdowns

EET vs. QQQ - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for EET and QQQ.

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Drawdown Indicators

EETQQQDifference

Max Drawdown

Largest peak-to-trough decline

-71.66%

-82.97%

+11.31%

Max Drawdown (1Y)

Largest decline over 1 year

-27.43%

-11.96%

-15.47%

Max Drawdown (3Y)

Largest decline over 3 years

-34.89%

-22.77%

-12.12%

Max Drawdown (5Y)

Largest decline over 5 years

-61.36%

-35.12%

-26.24%

Max Drawdown (10Y)

Largest decline over 10 years

-69.07%

-35.12%

-33.95%

Current Drawdown

Current decline from peak

-20.33%

-7.69%

-12.64%

Average Drawdown

Average peak-to-trough decline

-37.04%

-32.62%

-4.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.34%

3.74%

+5.60%

Volatility

EET vs. QQQ - Volatility Comparison

ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 19.59% compared to Invesco QQQ ETF (QQQ) at 6.87%. This indicates that EET'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.

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Volatility by Period

EETQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

19.59%

6.87%

+12.72%

Volatility (6M)

Calculated over the trailing 6-month period

45.28%

16.08%

+29.20%

Volatility (1Y)

Calculated over the trailing 1-year period

49.21%

19.38%

+29.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.76%

22.90%

+16.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

41.29%

22.50%

+18.79%

EET vs. QQQ - Expense Ratio Comparison

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

Dividends

EET vs. QQQ - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.58%, more than QQQ's 0.44% yield.

PositionTTM20252024202320222021202020192018201720162015
EET
ProShares Ultra MSCI Emerging Markets		1.58%1.82%3.85%2.14%0.00%0.00%0.01%1.40%0.16%0.00%0.00%0.00%
QQQ
Invesco QQQ ETF		0.44%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

EET and QQQ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EET has higher volatility (19.59%) compared to QQQ (6.87%). In terms of maximum drawdown, EET dropped -71.66% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 20.44% vs 7.59% for EET. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 6.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 20.44% return vs 7.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

EET has the higher dividend yield at 1.58%, compared with 0.44% for QQQ.

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

EET currently has the higher Sharpe Ratio (1.22 vs 1.16), 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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