ETHD vs. TQQQ
ETHD (ProShares UltraShort Ether ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - ETHD is a Cryptocurrency fund actively managed by ProShares, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). ETHD is actively managed, while TQQQ is passively managed. Over the past year, ETHD returned 6.93% vs 72.20% for TQQQ. Their -0.50 correlation means they have often moved in opposite directions in the past. ETHD charges 1.01%/yr vs 0.95%/yr for TQQQ.
Performance
ETHD vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, ETHD achieves a 28.16% return, which is significantly lower than TQQQ's 42.48% return.
ETHD
- 1D
- -0.69%
- 1M
- -21.42%
- 6M
- -13.33%
- YTD
- 28.16%
- 1Y
- 6.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -50.80%
TQQQ
- 1D
- 10.09%
- 1M
- 2.00%
- 6M
- 43.02%
- YTD
- 42.48%
- 1Y
- 72.20%
- 3Y*
- 55.55%
- 5Y*
- 17.84%
- 10Y*
- 40.86%
- ALL TIME*
- 43.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $15.91M | $15.40M | $23.23M | |
| $4.74B | $4.51B | $5.37B |
ETHD vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 28.16% | -72.49% | -38.58% |
TQQQ ProShares UltraPro QQQ | 42.48% | 34.35% | 18.68% |
Correlation
The correlation between ETHD and TQQQ is -0.50, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2024 | -0.50 |
The correlation between ETHD and TQQQ has been stable across timeframes, ranging from -0.50 to -0.50 - a consistent structural relationship.
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Return for Risk
ETHD vs. TQQQ — Risk / Return Rank
ETHD
TQQQ
ETHD vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Ether ETF (ETHD) 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.
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 | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.22 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | 1.96 | -1.84 |
| Martin ratioReturn relative to average drawdown | 0.19 | 5.43 | -5.24 |
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Drawdowns
ETHD vs. TQQQ - Drawdown Comparison
The maximum ETHD drawdown since its inception was -95.59%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for ETHD and TQQQ.
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Drawdown Indicators
| ETHD | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.59% | -81.66% | -13.93% |
Max Drawdown (1Y)Largest decline over 1 year | -55.14% | -36.97% | -18.17% |
Max Drawdown (3Y)Largest decline over 3 years | — | -58.04% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -89.99% | -14.02% | -75.97% |
Average DrawdownAverage peak-to-trough decline | -67.60% | -18.49% | -49.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.65% | 13.34% | +22.31% |
Volatility
ETHD vs. TQQQ - Volatility Comparison
ProShares UltraShort Ether ETF (ETHD) and ProShares UltraPro QQQ (TQQQ) have volatilities of 22.21% and 22.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETHD | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.21% | 22.54% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 88.19% | 48.77% | +39.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 133.41% | 58.29% | +75.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 140.15% | 68.25% | +71.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 140.15% | 66.68% | +73.47% |
ETHD vs. TQQQ - Expense Ratio Comparison
ETHD has a 1.01% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Dividends
ETHD vs. TQQQ - Dividend Comparison
ETHD's dividend yield for the trailing twelve months is around 8.92%, more than TQQQ's 0.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 8.92% | 156.62% | 19.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.50% | 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
ETHD and TQQQ have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (22.54%) compared to ETHD (22.21%). In terms of maximum drawdown, ETHD dropped -95.59% vs TQQQ's -81.66%.
On 1-year performance, TQQQ leads with 72.20% vs 6.93% for ETHD. On fees, TQQQ is cheaper at 0.95% per year. On volatility, ETHD has been the lower-risk option at 22.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TQQQ has performed better with a 72.20% return vs 6.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TQQQ is cheaper with a 0.95% expense ratio, compared with 1.01% for ETHD.
ETHD has the higher dividend yield at 8.92%, compared with 0.50% for TQQQ.
ETHD is categorized as Cryptocurrency, while TQQQ is Leveraged Equities. Their fees differ too: 1.01% for ETHD and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (1.25 vs 0.05), 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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