EFU vs. TQQQ
EFU (ProShares UltraShort MSCI EAFE) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds from ProShares - EFU tracks the MSCI EAFE Index (-200%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, EFU returned -20.39%/yr vs 45.25%/yr for TQQQ. At a correlation of -0.67, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
EFU vs. TQQQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EFU achieves a -15.95% return, which is significantly lower than TQQQ's 39.27% return. Over the past 10 years, EFU has underperformed TQQQ with an annualized return of -20.39%, while TQQQ has yielded a comparatively higher 45.25% annualized return.
EFU
- 1D
- 3.98%
- 1M
- -0.13%
- YTD
- -15.95%
- 6M
- -15.28%
- 1Y
- -31.13%
- 3Y*
- -24.16%
- 5Y*
- -15.34%
- 10Y*
- -20.39%
TQQQ
- 1D
- -1.53%
- 1M
- -5.83%
- YTD
- 39.27%
- 6M
- 32.62%
- 1Y
- 89.02%
- 3Y*
- 57.21%
- 5Y*
- 21.17%
- 10Y*
- 45.25%
EFU vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | -15.95% | -41.07% | -1.04% | -25.36% | 24.26% | -24.58% | -35.54% | -32.71% | 32.32% | -36.87% |
TQQQ ProShares UltraPro QQQ | 39.27% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between EFU and TQQQ is -0.66, 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 | -0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.67 |
The correlation between EFU and TQQQ has been stable across timeframes, ranging from -0.67 to -0.63 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EFU vs. TQQQ — Risk / Return Rank
EFU
TQQQ
EFU vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI EAFE (EFU) 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.
| EFU | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.65 | ||
| Sortino ratioReturn per unit of downside risk | -3.45 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.28 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.42 | -3.35 |
| Martin ratioReturn relative to average drawdown | -1.53 | 7.68 | -9.21 |
Loading charts...
Drawdowns
EFU vs. TQQQ - Drawdown Comparison
The maximum EFU drawdown since its inception was -99.37%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for EFU and TQQQ.
Loading charts...
Drawdown Indicators
| EFU | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.37% | -81.66% | -17.71% |
Max Drawdown (1Y)Largest decline over 1 year | -33.76% | -36.97% | +3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -64.63% | -58.04% | -6.59% |
Max Drawdown (5Y)Largest decline over 5 years | -75.65% | -81.66% | +6.01% |
Max Drawdown (10Y)Largest decline over 10 years | -90.50% | -81.66% | -8.84% |
Current DrawdownCurrent decline from peak | -99.35% | -15.96% | -83.39% |
Average DrawdownAverage peak-to-trough decline | -87.14% | -18.49% | -68.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.36% | 11.64% | +8.72% |
Volatility
EFU vs. TQQQ - Volatility Comparison
The current volatility for ProShares UltraShort MSCI EAFE (EFU) is 11.55%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 27.27%. This indicates that EFU 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.
Loading charts...
Volatility by Period
| EFU | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.55% | 27.27% | -15.72% |
Volatility (6M)Calculated over the trailing 6-month period | 27.96% | 43.24% | -15.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.36% | 53.35% | -20.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.60% | 67.41% | -33.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.66% | 66.31% | -32.65% |
EFU vs. TQQQ - Expense Ratio Comparison
Both EFU and TQQQ have an expense ratio of 0.95%.
Dividends
EFU vs. TQQQ - Dividend Comparison
EFU's dividend yield for the trailing twelve months is around 5.37%, more than TQQQ's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | 5.37% | 5.57% | 3.87% | 6.41% | 1.47% | 0.00% | 0.06% | 0.95% | 0.17% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.43% | 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
EFU and TQQQ have a correlation of -0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (27.27%) compared to EFU (11.55%). In terms of maximum drawdown, EFU dropped -99.37% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 45.25% vs -20.39% for EFU. Both ETFs have the same 0.95% expense ratio. On volatility, EFU has been the lower-risk option at 11.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 45.25% return vs -20.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFU and TQQQ have the same expense ratio: 0.95% per year.
EFU has the higher dividend yield at 5.37%, compared with 0.43% for TQQQ.
EFU tracks MSCI EAFE Index (-200%), while TQQQ tracks NASDAQ-100 Index (300%).
TQQQ currently has the higher Sharpe Ratio (1.68 vs -0.97), 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.
Find the right allocation for EFU and TQQQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer