EMTY vs. TQQQ
EMTY (ProShares Decline of the Retail Store ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - EMTY is a Inverse Equities fund tracking the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, EMTY returned -2.87%/yr vs 28.37%/yr for TQQQ. At a correlation of -0.47, they often move in opposite directions. EMTY charges 0.66%/yr vs 0.95%/yr for TQQQ.
Performance
EMTY vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, EMTY achieves a 1.09% return, which is significantly lower than TQQQ's 64.46% return.
EMTY
- 1D
- -0.32%
- 1M
- 1.81%
- YTD
- 1.09%
- 6M
- 3.80%
- 1Y
- 1.60%
- 3Y*
- -4.69%
- 5Y*
- -2.87%
- 10Y*
- —
TQQQ
- 1D
- -0.76%
- 1M
- 33.35%
- YTD
- 64.46%
- 6M
- 55.93%
- 1Y
- 137.89%
- 3Y*
- 69.49%
- 5Y*
- 28.37%
- 10Y*
- 45.33%
EMTY vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 1.09% | -1.76% | -4.13% | 0.27% | 4.32% | -37.39% | -31.92% | -8.65% | 11.16% | -14.16% |
TQQQ ProShares UltraPro QQQ | 64.46% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 2.19% |
Correlation
The correlation between EMTY and TQQQ is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.52 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2017 | -0.47 |
The correlation between EMTY and TQQQ shifts across timeframes, from -0.52 (5 years) to -0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMTY vs. TQQQ — Risk / Return Rank
EMTY
TQQQ
EMTY vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) 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.
| EMTY | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.84 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.40 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 3.75 | -3.64 |
| Martin ratioReturn relative to average drawdown | 0.20 | 12.27 | -12.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMTY | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | 2.92 | -2.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | 0.43 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | 0.74 | -1.17 |
Drawdowns
EMTY vs. TQQQ - Drawdown Comparison
The maximum EMTY drawdown since its inception was -77.62%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for EMTY and TQQQ.
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Drawdown Indicators
| EMTY | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.62% | -81.66% | +4.04% |
Max Drawdown (1Y)Largest decline over 1 year | -14.00% | -36.97% | +22.97% |
Max Drawdown (3Y)Largest decline over 3 years | -30.83% | -58.04% | +27.21% |
Max Drawdown (5Y)Largest decline over 5 years | -30.83% | -81.66% | +50.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -74.77% | -0.76% | -74.01% |
Average DrawdownAverage peak-to-trough decline | -54.01% | -18.52% | -35.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 11.28% | -3.17% |
Volatility
EMTY vs. TQQQ - Volatility Comparison
The current volatility for ProShares Decline of the Retail Store ETF (EMTY) is 6.00%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.29%. This indicates that EMTY 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.
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Volatility by Period
| EMTY | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 13.29% | -7.29% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 36.04% | -23.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 47.60% | -29.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.36% | 66.53% | -44.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.67% | 65.96% | -40.29% |
EMTY vs. TQQQ - Expense Ratio Comparison
EMTY has a 0.66% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Dividends
EMTY vs. TQQQ - Dividend Comparison
EMTY's dividend yield for the trailing twelve months is around 3.45%, more than TQQQ's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.45% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.36% | 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
EMTY and TQQQ have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (13.29%) compared to EMTY (6.00%). In terms of maximum drawdown, EMTY dropped -77.62% vs TQQQ's -81.66%.
On 5-year performance, TQQQ leads with 28.37% vs -2.87% for EMTY. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TQQQ has performed better with a 28.37% return vs -2.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 0.95% for TQQQ.
EMTY has the higher dividend yield at 3.45%, compared with 0.36% for TQQQ.
EMTY is categorized as Inverse Equities, while TQQQ is Leveraged Equities. EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 0.66% for EMTY and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (2.92 vs 0.09), 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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