EQRR vs. SQQQ

Last updated Jul 18, 2026

EQRR (ProShares Equities for Rising Rates ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - EQRR is a Mid Cap Value Equities fund tracking the Nasdaq US Large Cap Equity Rising Rates Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 5 years, EQRR returned 14.16%/yr vs -45.39%/yr for SQQQ. At a correlation of -0.42, they often move in opposite directions. EQRR charges 0.35%/yr vs 0.95%/yr for SQQQ.

Performance

EQRR vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Equities for Rising Rates ETF (EQRR) 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, EQRR achieves a 26.89% return, which is significantly higher than SQQQ's -36.02% return.

EQRR

• 1D: 0.05%
• 1M: 1.07%
• 6M: 23.35%
• YTD: 26.89%
• 1Y: 36.35%
• 3Y*: 18.58%
• 5Y*: 14.16%
• 10Y*: —

SQQQ

• 1D: 4.65%
• 1M: 10.00%
• 6M: -34.17%
• YTD: -36.02%
• 1Y: -51.09%
• 3Y*: -49.80%
• 5Y*: -45.39%
• 10Y*: -54.92%

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

EQRR vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQRR ProShares Equities for Rising Rates ETF	26.89%	15.49%	7.69%	9.19%	2.20%	36.11%	-10.14%	19.57%	-18.60%	17.11%
SQQQ ProShares UltraPro Short QQQ	-36.02%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-21.95%

Correlation

The correlation between EQRR and SQQQ is -0.57, 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	-0.57
Correlation (3Y) Calculated over the trailing 3-year period	-0.44
Correlation (5Y) Calculated over the trailing 5-year period	-0.49
Correlation (All Time) Calculated using the full available price history since Jul 25, 2017	-0.42

The correlation between EQRR and SQQQ shifts across timeframes, from -0.57 (1 year) to -0.42 (all time), reflecting how their relationship changes across market environments.

EQRR vs. SQQQ - Sectors Allocation Comparison

Sectors	EQRR	SQQQ
Technology	36.3%	-
Energy	24.1%	-
Financial Services	19.2%	109.1%
Communication Services	11.0%	-
Industrials	4.9%	-
Consumer Cyclical	4.7%	-
Basic Materials	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

EQRR vs. SQQQ — Risk / Return Rank

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

EQRR

EQRR Risk / Return Rank: 92
EQRR Sharpe Ratio Rank: 91
EQRR Sortino Ratio Rank: 87
EQRR Omega Ratio Rank: 89
EQRR Calmar Ratio Rank: 96
EQRR Martin Ratio Rank: 96

SQQQ

SQQQ Risk / Return Rank: 2
SQQQ Sharpe Ratio Rank: 2
SQQQ Sortino Ratio Rank: 2
SQQQ Omega Ratio Rank: 2
SQQQ Calmar Ratio Rank: 2
SQQQ Martin Ratio Rank: 1

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.

EQRR vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Equities for Rising Rates ETF (EQRR) 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.

	EQRR	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.45	-0.91	+3.37
Sortino ratio: Return per unit of downside risk	3.17	-1.41	+4.58
Omega ratio: Gain probability vs. loss probability	1.44	0.85	+0.59
Calmar ratio: Return relative to maximum drawdown	7.38	-0.84	+8.22
Martin ratio: Return relative to average drawdown	24.24	-1.53	+25.77

EQRR vs. SQQQ - Sharpe Ratio Comparison

The current EQRR Sharpe Ratio is 2.45, which is higher than the SQQQ Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of EQRR 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

EQRR vs. SQQQ - Drawdown Comparison

The maximum EQRR drawdown since its inception was -57.93%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EQRR and SQQQ.

Drawdown Indicators

	EQRR	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-57.93%	-100.00%	+42.07%
Max Drawdown (1Y) Largest decline over 1 year	-4.95%	-61.03%	+56.08%
Max Drawdown (3Y) Largest decline over 3 years	-17.75%	-92.51%	+74.76%
Max Drawdown (5Y) Largest decline over 5 years	-21.75%	-97.27%	+75.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.97%	—
Current Drawdown Current decline from peak	-0.99%	-100.00%	+99.01%
Average Drawdown Average peak-to-trough decline	-9.96%	-92.76%	+82.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	33.52%	-32.02%

Volatility

EQRR vs. SQQQ - Volatility Comparison

The current volatility for ProShares Equities for Rising Rates ETF (EQRR) is 4.60%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 22.12%. This indicates that EQRR 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

	EQRR	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	22.12%	-17.52%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	46.34%	-34.36%
Volatility (1Y) Calculated over the trailing 1-year period	14.90%	56.08%	-41.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.32%	67.92%	-46.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.82%	66.58%	-41.76%

EQRR vs. SQQQ - Expense Ratio Comparison

EQRR has a 0.35% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

EQRR vs. SQQQ - Dividend Comparison

EQRR's dividend yield for the trailing twelve months is around 1.09%, less than SQQQ's 9.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQRR ProShares Equities for Rising Rates ETF	1.09%	1.70%	2.17%	2.77%	2.34%	1.71%	2.17%	2.05%	2.47%	0.69%
SQQQ ProShares UltraPro Short QQQ	9.34%	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 EQRR and SQQQ in my portfolio?

EQRR and SQQQ have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQRR or SQQQ?

SQQQ has higher volatility (22.12%) compared to EQRR (4.60%). In terms of maximum drawdown, EQRR dropped -57.93% vs SQQQ's -100.00%.

Which ETF is better, EQRR or SQQQ?

On 5-year performance, EQRR leads with 14.16% vs -45.39% for SQQQ. On fees, EQRR is cheaper at 0.35% per year. On volatility, EQRR has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQRR or SQQQ?

Over the 5-year period, EQRR has performed better with a 14.16% return vs -45.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQRR or SQQQ?

EQRR is cheaper with a 0.35% expense ratio, compared with 0.95% for SQQQ.

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

SQQQ has the higher dividend yield at 9.34%, compared with 1.09% for EQRR.

What is the main difference between EQRR and SQQQ?

EQRR is categorized as Mid Cap Value Equities, while SQQQ is Leveraged Equities. EQRR tracks Nasdaq US Large Cap Equity Rising Rates Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.35% for EQRR and 0.95% for SQQQ.

Which has better risk-adjusted returns?

EQRR currently has the higher Sharpe Ratio (2.45 vs -0.91), 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.