ETHD vs. QLD
ETHD (ProShares UltraShort Ether ETF) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - ETHD is a Cryptocurrency fund actively managed by ProShares, while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). ETHD is actively managed, while QLD is passively managed. Over the past year, ETHD returned -42.18% vs 85.49% for QLD. At a correlation of -0.51, they often move in opposite directions. ETHD charges 1.01%/yr vs 0.95%/yr for QLD.
Performance
ETHD vs. QLD - Performance Comparison
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Returns By Period
In the year-to-date period, ETHD achieves a 63.80% return, which is significantly higher than QLD's 42.06% return.
ETHD
- 1D
- 11.25%
- 1M
- 66.19%
- YTD
- 63.80%
- 6M
- 72.54%
- 1Y
- -42.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLD
- 1D
- -0.53%
- 1M
- 21.54%
- YTD
- 42.06%
- 6M
- 37.45%
- 1Y
- 85.49%
- 3Y*
- 50.15%
- 5Y*
- 25.75%
- 10Y*
- 36.10%
ETHD vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 63.80% | -72.49% | -42.57% |
QLD ProShares Ultra QQQ | 42.06% | 30.36% | 16.04% |
Correlation
The correlation between ETHD and QLD is -0.51, 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 | -0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2024 | -0.51 |
The correlation between ETHD and QLD has been stable across timeframes, ranging from -0.51 to -0.51 - a consistent structural relationship.
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Return for Risk
ETHD vs. QLD — Risk / Return Rank
ETHD
QLD
ETHD vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) and ProShares Ultra QQQ (QLD). 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.
| ETHD | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.41 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 3.42 | -3.93 |
| Martin ratioReturn relative to average drawdown | -0.64 | 11.92 | -12.55 |
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
| ETHD | QLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.31 | 2.70 | -3.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.81 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.35 | 0.60 | -0.95 |
Drawdowns
ETHD vs. QLD - Drawdown Comparison
The maximum ETHD drawdown since its inception was -95.59%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for ETHD and QLD.
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Drawdown Indicators
| ETHD | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.59% | -83.13% | -12.46% |
Max Drawdown (1Y)Largest decline over 1 year | -83.63% | -25.13% | -58.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.29% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.68% | — |
Current DrawdownCurrent decline from peak | -87.20% | -0.53% | -86.67% |
Average DrawdownAverage peak-to-trough decline | -66.01% | -18.17% | -47.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.00% | 7.20% | +58.80% |
Volatility
ETHD vs. QLD - Volatility Comparison
ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 19.00% compared to ProShares Ultra QQQ (QLD) at 8.90%. This indicates that ETHD's price experiences larger fluctuations and is considered to be riskier than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHD | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.00% | 8.90% | +10.10% |
Volatility (6M)Calculated over the trailing 6-month period | 92.37% | 24.08% | +68.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 136.23% | 31.85% | +104.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 142.19% | 44.74% | +97.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 142.19% | 44.56% | +97.63% |
ETHD vs. QLD - Expense Ratio Comparison
ETHD has a 1.01% expense ratio, which is higher than QLD's 0.95% expense ratio.
Dividends
ETHD vs. QLD - Dividend Comparison
ETHD's dividend yield for the trailing twelve months is around 10.68%, more than QLD's 0.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 10.68% | 156.62% | 19.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.12% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Frequently Asked Questions
ETHD and QLD have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHD has higher volatility (19.00%) compared to QLD (8.90%). In terms of maximum drawdown, ETHD dropped -95.59% vs QLD's -83.13%.
On 1-year performance, QLD leads with 85.49% vs -42.18% for ETHD. On fees, QLD is cheaper at 0.95% per year. On volatility, QLD has been the lower-risk option at 8.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QLD has performed better with a 85.49% return vs -42.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QLD is cheaper with a 0.95% expense ratio, compared with 1.01% for ETHD.
ETHD has the higher dividend yield at 10.68%, compared with 0.12% for QLD.
ETHD is categorized as Cryptocurrency, while QLD is Leveraged Equities. Their fees differ too: 1.01% for ETHD and 0.95% for QLD.
QLD currently has the higher Sharpe Ratio (2.70 vs -0.31), 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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