EET vs. SQQQ

Last updated Jun 25, 2026

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 10.67%/yr vs -56.25%/yr for SQQQ. At a correlation of -0.66, they often move in opposite directions. 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.

Returns By Period

In the year-to-date period, EET achieves a 41.10% return, which is significantly higher than SQQQ's -40.47% return. Over the past 10 years, EET has outperformed SQQQ with an annualized return of 10.67%, while SQQQ has yielded a comparatively lower -56.25% annualized return.

EET

• 1D: -0.60%
• 1M: 2.69%
• YTD: 41.10%
• 6M: 42.83%
• 1Y: 81.79%
• 3Y*: 34.98%
• 5Y*: 2.48%
• 10Y*: 10.67%

SQQQ

• 1D: -0.27%
• 1M: -2.53%
• YTD: -40.47%
• 6M: -37.47%
• 1Y: -59.36%
• 3Y*: -53.90%
• 5Y*: -46.94%
• 10Y*: -56.25%

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

EET vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EET ProShares Ultra MSCI Emerging Markets	41.10%	63.14%	2.88%	7.06%	-43.07%	-10.93%	18.92%	31.87%	-33.84%	82.41%
SQQQ ProShares UltraPro Short QQQ	-40.47%	-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 -0.77, 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	-0.77
Correlation (3Y) Calculated over the trailing 3-year period	-0.66
Correlation (5Y) Calculated over the trailing 5-year period	-0.65
Correlation (10Y) Calculated over the trailing 10-year period	-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 -0.77 (1 year) to -0.65 (5 years), reflecting how their relationship changes across market environments.

EET vs. SQQQ - Sectors Allocation Comparison

Sectors	EET	SQQQ
Financial Services	41.4%	122.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

EET vs. SQQQ — Risk / Return Rank

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

EET

EET Risk / Return Rank: 62
EET Sharpe Ratio Rank: 63
EET Sortino Ratio Rank: 51
EET Omega Ratio Rank: 61
EET Calmar Ratio Rank: 70
EET Martin Ratio Rank: 67

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
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.

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.

	EET	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.83	-1.11	+2.94
Sortino ratio: Return per unit of downside risk	2.24	-1.98	+4.22
Omega ratio: Gain probability vs. loss probability	1.33	0.79	+0.54
Calmar ratio: Return relative to maximum drawdown	3.12	-0.94	+4.06
Martin ratio: Return relative to average drawdown	10.84	-1.77	+12.61

EET vs. SQQQ - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 1.83, which is higher than the SQQQ Sharpe Ratio of -1.11. 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.

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.

Drawdown Indicators

	EET	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-71.66%	-100.00%	+28.34%
Max Drawdown (1Y) Largest decline over 1 year	-26.38%	-63.25%	+36.87%
Max Drawdown (3Y) Largest decline over 3 years	-34.89%	-92.51%	+57.62%
Max Drawdown (5Y) Largest decline over 5 years	-64.51%	-97.27%	+32.76%
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	-99.98%	+30.91%
Current Drawdown Current decline from peak	-11.38%	-100.00%	+88.62%
Average Drawdown Average peak-to-trough decline	-37.16%	-92.73%	+55.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.57%	33.97%	-26.40%

Volatility

EET vs. SQQQ - Volatility Comparison

ProShares Ultra MSCI Emerging Markets (EET) and ProShares UltraPro Short QQQ (SQQQ) have volatilities of 25.42% and 26.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EET	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.42%	26.67%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	41.30%	43.18%	-1.88%
Volatility (1Y) Calculated over the trailing 1-year period	45.20%	53.58%	-8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.04%	67.53%	-28.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.96%	66.46%	-25.50%

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 1.34%, less than SQQQ's 11.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EET ProShares Ultra MSCI Emerging Markets	1.34%	1.82%	3.85%	2.14%	0.00%	0.00%	0.01%	1.40%	0.16%	0.00%
SQQQ ProShares UltraPro Short QQQ	11.47%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both EET and SQQQ in my portfolio?

EET and SQQQ have a correlation of -0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EET or SQQQ?

SQQQ has higher volatility (26.67%) compared to EET (25.42%). In terms of maximum drawdown, EET dropped -71.66% vs SQQQ's -100.00%.

Which ETF is better, EET or SQQQ?

On 10-year performance, EET leads with 10.67% vs -56.25% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, EET has been the lower-risk option at 25.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EET or SQQQ?

Over the 10-year period, EET has performed better with a 10.67% return vs -56.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EET or SQQQ?

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

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

SQQQ has the higher dividend yield at 11.47%, compared with 1.34% for EET.

What is the main difference between EET and SQQQ?

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

Which has better risk-adjusted returns?

EET currently has the higher Sharpe Ratio (1.83 vs -1.11), 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.