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EET vs. SQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EET vs. SQQQ

Last updated Aug 4, 2026
Documentation

EET (ProShares Ultra MSCI Emerging Markets) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - EET tracks the MSCI Emerging Markets Index (200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, EET returned 7.22%/yr vs -54.51%/yr for SQQQ. Their -0.66 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

EET vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra MSCI Emerging Markets (EET) and ProShares UltraPro Short QQQ (SQQQ). 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 27.71% return, which is significantly higher than SQQQ's -38.05% return. Over the past 10 years, EET has outperformed SQQQ with an annualized return of 7.22%, while SQQQ has yielded a comparatively lower -54.51% annualized return.

EET

1D
0.67%
1M
-4.70%
6M
9.73%
YTD
27.71%
1Y
64.20%
3Y*
28.06%
5Y*
2.81%
10Y*
7.22%
ALL TIME*
4.11%

SQQQ

1D
-5.26%
1M
3.70%
6M
-34.63%
YTD
-38.05%
1Y
-54.82%
3Y*
-52.10%
5Y*
-44.80%
10Y*
-54.51%
ALL TIME*
-52.82%
*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
$506.00K$1.40M$1.55M

SQQQ

ProShares UltraPro Short QQQ
$2.77B$2.43B$2.72B

EET vs. SQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EET
ProShares Ultra MSCI Emerging Markets		27.71%63.14%2.88%7.06%-43.07%-10.93%18.92%31.87%-33.84%82.41%
SQQQ
ProShares UltraPro Short QQQ		-38.05%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%

Correlation

The correlation between EET and SQQQ is -0.81, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

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 Feb 11, 2010

-0.66

The correlation between EET and SQQQ shifts across timeframes, from -0.81 (1 year) to -0.66 (10 years), reflecting how their relationship changes across market environments.

EET vs. SQQQ - Sectors Allocation Comparison

Sectors
EET
SQQQ

Financial Services

57.7%
89.7%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

EET
57.7%
SQQQ
89.7%

Basic Materials

EET

-

SQQQ

-

Communication Services

EET

-

SQQQ

-

Consumer Cyclical

EET

-

SQQQ

-

Consumer Defensive

EET

-

SQQQ

-

Energy

EET

-

SQQQ

-

Healthcare

EET

-

SQQQ

-

Industrials

EET

-

SQQQ

-

Real Estate

EET

-

SQQQ

-

Technology

EET

-

SQQQ

-

Utilities

EET

-

SQQQ

-

Compare stocks, funds, or ETFs

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ProShares Ultra MSCI Emerging Markets

ProShares UltraPro Short QQQ

Often compared with EET:
EET vs. EFOEET vs. EDCEET vs. EEMEET vs. XPPEET vs. QQQEET vs. EEMAEET vs. SPEM
Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. SPXUSQQQ vs. QIDSQQQ vs. UVXY

Return for Risk

EET vs. SQQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EET
EET Risk / Return Rank: 5555
Overall Rank
EET Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
EET Sortino Ratio Rank: 4949
Sortino Ratio Rank
EET Omega Ratio Rank: 5555
Omega Ratio Rank
EET Calmar Ratio Rank: 6464
Calmar Ratio Rank
EET Martin Ratio Rank: 5555
Martin Ratio Rank
SQQQ
SQQQ Risk / Return Rank: 11
Overall Rank
SQQQ Sharpe Ratio Rank: 22
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 22
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 22
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 11
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 00
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. SQQQ - Risk-Adjusted Trends Comparison

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

EETSQQQDifference
Sharpe ratioReturn per unit of total volatility
1.31
-0.95

+2.26

Sortino ratioReturn per unit of downside risk
1.82
-1.51

+3.33

Omega ratioGain probability vs. loss probability

1.25

0.84

+0.42

Calmar ratioReturn relative to maximum drawdown

2.35

-0.92

+3.27

Martin ratioReturn relative to average drawdown

6.83

-1.65

+8.48

EET vs. SQQQ - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 1.31, which is higher than the SQQQ Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of EET 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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Drawdowns

EET vs. SQQQ - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EET and SQQQ.

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Drawdown Indicators

EETSQQQDifference

Max Drawdown

Largest peak-to-trough decline

-71.66%

-100.00%

+28.34%

Max Drawdown (1Y)

Largest decline over 1 year

-27.43%

-59.62%

+32.19%

Max Drawdown (3Y)

Largest decline over 3 years

-34.89%

-92.51%

+57.62%

Max Drawdown (5Y)

Largest decline over 5 years

-61.36%

-97.27%

+35.91%

Max Drawdown (10Y)

Largest decline over 10 years

-69.07%

-99.97%

+30.90%

Current Drawdown

Current decline from peak

-19.80%

-100.00%

+80.20%

Average Drawdown

Average peak-to-trough decline

-37.04%

-92.78%

+55.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.42%

35.25%

-25.83%

Volatility

EET vs. SQQQ - Volatility Comparison

The current volatility for ProShares Ultra MSCI Emerging Markets (EET) is 19.37%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 21.07%. This indicates that EET 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.

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Volatility by Period

EETSQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

19.37%

21.07%

-1.70%

Volatility (6M)

Calculated over the trailing 6-month period

45.06%

48.20%

-3.14%

Volatility (1Y)

Calculated over the trailing 1-year period

49.24%

57.95%

-8.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.77%

68.24%

-28.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

41.30%

66.78%

-25.48%

EET vs. SQQQ - Expense Ratio Comparison

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

Dividends

EET vs. SQQQ - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.57%, less than SQQQ's 9.64% yield.

PositionTTM202520242023202220212020201920182017
EET
ProShares Ultra MSCI Emerging Markets		1.57%1.82%3.85%2.14%0.00%0.00%0.01%1.40%0.16%0.00%
SQQQ
ProShares UltraPro Short QQQ		9.64%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%

Frequently Asked Questions

EET and SQQQ 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.

SQQQ has higher volatility (21.07%) compared to EET (19.37%). In terms of maximum drawdown, EET dropped -71.66% vs SQQQ's -100.00%.

On 10-year performance, EET leads with 7.22% vs -54.51% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, EET has been the lower-risk option at 19.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EET has performed better with a 7.22% return vs -54.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SQQQ has the higher dividend yield at 9.64%, compared with 1.57% for EET.

EET tracks MSCI Emerging Markets Index (200%), while SQQQ tracks NASDAQ-100 Index (-300%).

EET currently has the higher Sharpe Ratio (1.31 vs -0.95), 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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