ETHD vs. IQQQ

Last updated Jun 26, 2026

ETHD (ProShares UltraShort Ether ETF) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - ETHD is a Cryptocurrency fund actively managed by ProShares, while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. ETHD is actively managed, while IQQQ is passively managed. Over the past year, ETHD returned -36.09% vs 29.47% for IQQQ. At a correlation of -0.53, they often move in opposite directions. ETHD charges 1.01%/yr vs 0.55%/yr for IQQQ.

Performance

ETHD vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Ether ETF (ETHD) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETHD achieves a 98.16% return, which is significantly higher than IQQQ's 13.95% return.

ETHD

• 1D: 3.15%
• 1M: 57.64%
• YTD: 98.16%
• 6M: 93.66%
• 1Y: -36.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IQQQ

• 1D: 0.87%
• 1M: -2.10%
• YTD: 13.95%
• 6M: 12.28%
• 1Y: 29.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHD vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHD ProShares UltraShort Ether ETF	98.16%	-72.49%	-38.58%
IQQQ ProShares Nasdaq-100 High Income ETF	13.95%	17.11%	9.67%

Correlation

The correlation between ETHD and IQQQ is -0.53, 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	-0.53
Correlation (All Time) Calculated using the full available price history since Jun 7, 2024	-0.53

The correlation between ETHD and IQQQ has been stable across timeframes, ranging from -0.53 to -0.53 - a consistent structural relationship.

Return for Risk

ETHD vs. IQQQ — Risk / Return Rank

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

ETHD

ETHD Risk / Return Rank: 9
ETHD Sharpe Ratio Rank: 7
ETHD Sortino Ratio Rank: 12
ETHD Omega Ratio Rank: 12
ETHD Calmar Ratio Rank: 6
ETHD Martin Ratio Rank: 7

IQQQ

IQQQ Risk / Return Rank: 58
IQQQ Sharpe Ratio Rank: 61
IQQQ Sortino Ratio Rank: 54
IQQQ Omega Ratio Rank: 56
IQQQ Calmar Ratio Rank: 62
IQQQ Martin Ratio Rank: 59

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.

ETHD vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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.

	ETHD	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	1.74	-2.01
Sortino ratio: Return per unit of downside risk	0.52	2.28	-1.76
Omega ratio: Gain probability vs. loss probability	1.06	1.30	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.44	2.66	-3.10
Martin ratio: Return relative to average drawdown	-0.56	9.05	-9.61

ETHD vs. IQQQ - Sharpe Ratio Comparison

The current ETHD Sharpe Ratio is -0.26, which is lower than the IQQQ Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of ETHD and IQQQ, 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

ETHD vs. IQQQ - Drawdown Comparison

The maximum ETHD drawdown since its inception was -95.59%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for ETHD and IQQQ.

Drawdown Indicators

	ETHD	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-95.59%	-20.41%	-75.18%
Max Drawdown (1Y) Largest decline over 1 year	-82.01%	-11.13%	-70.88%
Current Drawdown Current decline from peak	-84.52%	-4.31%	-80.21%
Average Drawdown Average peak-to-trough decline	-66.48%	-3.63%	-62.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	64.02%	3.27%	+60.75%

Volatility

ETHD vs. IQQQ - Volatility Comparison

ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 39.60% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 8.20%. This indicates that ETHD's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETHD	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	39.60%	8.20%	+31.40%
Volatility (6M) Calculated over the trailing 6-month period	92.56%	13.57%	+78.99%
Volatility (1Y) Calculated over the trailing 1-year period	137.24%	17.00%	+120.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.43%	19.06%	+123.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.43%	19.06%	+123.37%

ETHD vs. IQQQ - Expense Ratio Comparison

ETHD has a 1.01% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

ETHD vs. IQQQ - Dividend Comparison

ETHD's dividend yield for the trailing twelve months is around 8.83%, more than IQQQ's 4.61% yield.

Position	TTM	2025	2024
ETHD ProShares UltraShort Ether ETF	8.83%	156.62%	19.15%
IQQQ ProShares Nasdaq-100 High Income ETF	4.61%	10.34%	7.27%

Frequently Asked Questions

Can I hold both ETHD and IQQQ in my portfolio?

ETHD and IQQQ have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHD or IQQQ?

ETHD has higher volatility (39.60%) compared to IQQQ (8.20%). In terms of maximum drawdown, ETHD dropped -95.59% vs IQQQ's -20.41%.

Which ETF is better, ETHD or IQQQ?

On 1-year performance, IQQQ leads with 29.47% vs -36.09% for ETHD. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 8.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETHD or IQQQ?

Over the 1-year period, IQQQ has performed better with a 29.47% return vs -36.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHD or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 1.01% for ETHD.

Which ETF pays a higher dividend yield, ETHD or IQQQ?

ETHD has the higher dividend yield at 8.83%, compared with 4.61% for IQQQ.

What is the main difference between ETHD and IQQQ?

ETHD is categorized as Cryptocurrency, while IQQQ is Nasdaq-100. Their fees differ too: 1.01% for ETHD and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.74 vs -0.26), 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.