EMDV vs. SQQQ

Last updated Jun 24, 2026

EMDV (ProShares MSCI Emerging Markets Dividend Growers ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - EMDV is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Dividend Masters Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, EMDV returned 2.45%/yr vs -56.24%/yr for SQQQ. At a correlation of -0.51, they often move in opposite directions. EMDV charges 0.60%/yr vs 0.95%/yr for SQQQ.

Performance

EMDV vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) 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, EMDV achieves a -1.87% return, which is significantly higher than SQQQ's -40.31% return. Over the past 10 years, EMDV has outperformed SQQQ with an annualized return of 2.45%, while SQQQ has yielded a comparatively lower -56.24% annualized return.

EMDV

• 1D: -1.32%
• 1M: -2.39%
• YTD: -1.87%
• 6M: -2.68%
• 1Y: 4.25%
• 3Y*: 2.28%
• 5Y*: -3.40%
• 10Y*: 2.45%

SQQQ

• 1D: 9.83%
• 1M: -2.27%
• YTD: -40.31%
• 6M: -37.80%
• 1Y: -61.11%
• 3Y*: -53.86%
• 5Y*: -46.89%
• 10Y*: -56.24%

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

EMDV vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	-1.87%	11.90%	0.06%	-1.03%	-18.19%	1.11%	-0.09%	14.93%	-7.52%	26.98%
SQQQ ProShares UltraPro Short QQQ	-40.31%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-58.67%

Correlation

The correlation between EMDV and SQQQ is -0.59, 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	-0.59
Correlation (3Y) Calculated over the trailing 3-year period	-0.45
Correlation (5Y) Calculated over the trailing 5-year period	-0.48
Correlation (10Y) Calculated over the trailing 10-year period	-0.52
Correlation (All Time) Calculated using the full available price history since Jan 27, 2016	-0.51

The correlation between EMDV and SQQQ shifts across timeframes, from -0.59 (1 year) to -0.45 (3 years), reflecting how their relationship changes across market environments.

EMDV vs. SQQQ - Sectors Allocation Comparison

Sectors	EMDV	SQQQ
Technology	24.7%	-
Financial Services	23.4%	122.0%
Consumer Defensive	15.8%	-
Utilities	8.2%	-
Healthcare	7.7%	-
Consumer Cyclical	6.5%	-
Industrials	5.9%	-
Communication Services	5.7%	-
Basic Materials	2.1%	-
Energy	-	-
Real Estate	-	-

Return for Risk

EMDV vs. SQQQ — Risk / Return Rank

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

EMDV

EMDV Risk / Return Rank: 15
EMDV Sharpe Ratio Rank: 14
EMDV Sortino Ratio Rank: 13
EMDV Omega Ratio Rank: 13
EMDV Calmar Ratio Rank: 16
EMDV Martin Ratio Rank: 17

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 0
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.

EMDV vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) 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.

	EMDV	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.37	-1.14	+1.51
Sortino ratio: Return per unit of downside risk	0.60	-2.07	+2.67
Omega ratio: Gain probability vs. loss probability	1.07	0.78	+0.30
Calmar ratio: Return relative to maximum drawdown	0.59	-0.96	+1.55
Martin ratio: Return relative to average drawdown	1.67	-1.81	+3.48

EMDV vs. SQQQ - Sharpe Ratio Comparison

The current EMDV Sharpe Ratio is 0.37, which is higher than the SQQQ Sharpe Ratio of -1.14. The chart below compares the historical Sharpe Ratios of EMDV 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

EMDV vs. SQQQ - Drawdown Comparison

The maximum EMDV drawdown since its inception was -39.20%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EMDV and SQQQ.

Drawdown Indicators

	EMDV	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-39.20%	-100.00%	+60.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-63.52%	+56.28%
Max Drawdown (3Y) Largest decline over 3 years	-20.71%	-92.51%	+71.80%
Max Drawdown (5Y) Largest decline over 5 years	-34.13%	-97.27%	+63.14%
Max Drawdown (10Y) Largest decline over 10 years	-39.20%	-99.98%	+60.78%
Current Drawdown Current decline from peak	-17.36%	-100.00%	+82.64%
Average Drawdown Average peak-to-trough decline	-13.55%	-92.73%	+79.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	36.37%	-33.83%

Volatility

EMDV vs. SQQQ - Volatility Comparison

The current volatility for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) is 4.26%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. This indicates that EMDV 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.

Volatility by Period

	EMDV	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	26.69%	-22.43%
Volatility (6M) Calculated over the trailing 6-month period	9.72%	43.33%	-33.61%
Volatility (1Y) Calculated over the trailing 1-year period	11.54%	53.65%	-42.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	67.53%	-52.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	66.47%	-48.30%

EMDV vs. SQQQ - Expense Ratio Comparison

EMDV has a 0.60% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

EMDV vs. SQQQ - Dividend Comparison

EMDV's dividend yield for the trailing twelve months is around 2.48%, less than SQQQ's 11.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	2.48%	2.46%	2.79%	1.88%	3.68%	2.12%	3.12%	2.38%	1.27%	2.09%	2.87%
SQQQ ProShares UltraPro Short QQQ	11.44%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%	0.00%

Frequently Asked Questions

Can I hold both EMDV and SQQQ in my portfolio?

EMDV and SQQQ have a correlation of -0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMDV or SQQQ?

SQQQ has higher volatility (26.69%) compared to EMDV (4.26%). In terms of maximum drawdown, EMDV dropped -39.20% vs SQQQ's -100.00%.

Which ETF is better, EMDV or SQQQ?

On 10-year performance, EMDV leads with 2.45% vs -56.24% for SQQQ. On fees, EMDV is cheaper at 0.60% per year. On volatility, EMDV has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMDV or SQQQ?

Over the 10-year period, EMDV has performed better with a 2.45% return vs -56.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMDV or SQQQ?

EMDV is cheaper with a 0.60% expense ratio, compared with 0.95% for SQQQ.

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

SQQQ has the higher dividend yield at 11.44%, compared with 2.48% for EMDV.

What is the main difference between EMDV and SQQQ?

EMDV is categorized as Emerging Markets Equities, while SQQQ is Leveraged Equities. EMDV tracks MSCI Emerging Markets Dividend Masters Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.60% for EMDV and 0.95% for SQQQ.

Which has better risk-adjusted returns?

EMDV currently has the higher Sharpe Ratio (0.37 vs -1.14), 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.