EETH vs. TQQQ

Last updated Jul 14, 2026

EETH (ProShares Ether Strategy ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - EETH is a Cryptocurrency fund actively managed by ProShares, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). EETH is actively managed, while TQQQ is passively managed. Over the past year, EETH returned -43.94% vs 74.65% for TQQQ. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

EETH vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EETH achieves a -41.54% return, which is significantly lower than TQQQ's 38.33% return.

EETH

• 1D: -1.10%
• 1M: 6.25%
• 6M: -43.87%
• YTD: -41.54%
• 1Y: -43.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -5.70%
• 1M: -6.08%
• 6M: 30.48%
• YTD: 38.33%
• 1Y: 74.65%
• 3Y*: 50.58%
• 5Y*: 18.33%
• 10Y*: 42.27%

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

EETH vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EETH ProShares Ether Strategy ETF	-41.54%	-17.19%	33.29%	31.40%
TQQQ ProShares UltraPro QQQ	38.33%	34.35%	58.27%	42.96%

Correlation

The correlation between EETH and TQQQ is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.43

The correlation between EETH and TQQQ has been stable across timeframes, ranging from 0.43 to 0.50 - a consistent structural relationship.

Return for Risk

EETH vs. TQQQ — Risk / Return Rank

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

EETH

EETH Risk / Return Rank: 4
EETH Sharpe Ratio Rank: 4
EETH Sortino Ratio Rank: 4
EETH Omega Ratio Rank: 5
EETH Calmar Ratio Rank: 4
EETH Martin Ratio Rank: 4

TQQQ

TQQQ Risk / Return Rank: 48
TQQQ Sharpe Ratio Rank: 49
TQQQ Sortino Ratio Rank: 45
TQQQ Omega Ratio Rank: 46
TQQQ Calmar Ratio Rank: 51
TQQQ Martin Ratio Rank: 47

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.

EETH vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) and ProShares UltraPro QQQ (TQQQ). 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.

	EETH	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	1.36	-2.00
Sortino ratio: Return per unit of downside risk	-0.72	1.85	-2.56
Omega ratio: Gain probability vs. loss probability	0.92	1.24	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.64	2.03	-2.67
Martin ratio: Return relative to average drawdown	-1.00	6.23	-7.23

EETH vs. TQQQ - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.64, which is lower than the TQQQ Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of EETH and TQQQ, 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

EETH vs. TQQQ - Drawdown Comparison

The maximum EETH drawdown since its inception was -69.22%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for EETH and TQQQ.

Drawdown Indicators

	EETH	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-69.22%	-81.66%	+12.44%
Max Drawdown (1Y) Largest decline over 1 year	-69.22%	-36.97%	-32.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-58.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-64.90%	-16.52%	-48.38%
Average Drawdown Average peak-to-trough decline	-30.86%	-18.48%	-12.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.15%	12.02%	+32.13%

Volatility

EETH vs. TQQQ - Volatility Comparison

The current volatility for ProShares Ether Strategy ETF (EETH) is 16.05%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 25.43%. This indicates that EETH experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EETH	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.05%	25.43%	-9.38%
Volatility (6M) Calculated over the trailing 6-month period	47.07%	45.80%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	68.70%	55.32%	+13.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.77%	67.74%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.77%	66.40%	+2.37%

EETH vs. TQQQ - Expense Ratio Comparison

Both EETH and TQQQ have an expense ratio of 0.95%.

Dividends

EETH vs. TQQQ - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 90.85%, more than TQQQ's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EETH ProShares Ether Strategy ETF	90.85%	56.98%	10.82%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.52%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both EETH and TQQQ in my portfolio?

EETH and TQQQ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EETH or TQQQ?

TQQQ has higher volatility (25.43%) compared to EETH (16.05%). In terms of maximum drawdown, EETH dropped -69.22% vs TQQQ's -81.66%.

Which ETF is better, EETH or TQQQ?

On 1-year performance, TQQQ leads with 74.65% vs -43.94% for EETH. Both ETFs have the same 0.95% expense ratio. On volatility, EETH has been the lower-risk option at 16.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or TQQQ?

Over the 1-year period, TQQQ has performed better with a 74.65% return vs -43.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EETH or TQQQ?

EETH and TQQQ have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, EETH or TQQQ?

EETH has the higher dividend yield at 90.85%, compared with 0.52% for TQQQ.

What is the main difference between EETH and TQQQ?

EETH is categorized as Cryptocurrency, while TQQQ is Leveraged Equities.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (1.36 vs -0.64), 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.