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 -42.18% vs 137.89% for TQQQ. At a correlation of -0.51, they often move in opposite directions. ETHD charges 1.01%/yr vs 0.95%/yr for TQQQ.
Performance
ETHD vs. TQQQ - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with ETHD having a 63.80% return and TQQQ slightly higher at 64.46%.
ETHD
- 1D
- 11.25%
- 1M
- 66.19%
- YTD
- 63.80%
- 6M
- 72.54%
- 1Y
- -42.18%
- 3Y*
- —
- 5Y*
- —
- 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%
ETHD vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHD ProShares UltraShort Ether ETF | 63.80% | -72.49% | -42.57% |
TQQQ ProShares UltraPro QQQ | 64.46% | 34.35% | 19.12% |
Correlation
The correlation between ETHD and TQQQ 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 TQQQ has been stable across timeframes, ranging from -0.51 to -0.51 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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.
| ETHD | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.68 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.40 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 3.75 | -4.26 |
| Martin ratioReturn relative to average drawdown | -0.64 | 12.27 | -12.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ETHD | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.31 | 2.92 | -3.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.43 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.35 | 0.74 | -1.09 |
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.
Loading charts...
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 | -83.63% | -36.97% | -46.66% |
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 | -87.20% | -0.76% | -86.44% |
Average DrawdownAverage peak-to-trough decline | -66.01% | -18.52% | -47.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.00% | 11.28% | +54.72% |
Volatility
ETHD vs. TQQQ - Volatility Comparison
ProShares UltraShort Ether ETF (ETHD) has a higher volatility of 19.00% compared to ProShares UltraPro QQQ (TQQQ) at 13.29%. This indicates that ETHD's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ETHD | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.00% | 13.29% | +5.71% |
Volatility (6M)Calculated over the trailing 6-month period | 92.37% | 36.04% | +56.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 136.23% | 47.60% | +88.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 142.19% | 66.53% | +75.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 142.19% | 65.96% | +76.23% |
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 10.68%, more than TQQQ's 0.36% 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% |
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
ETHD and TQQQ 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 TQQQ (13.29%). In terms of maximum drawdown, ETHD dropped -95.59% vs TQQQ's -81.66%.
On 1-year performance, TQQQ leads with 137.89% vs -42.18% for ETHD. On fees, TQQQ is cheaper at 0.95% per year. On volatility, TQQQ has been the lower-risk option at 13.29%. 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 137.89% return vs -42.18%. 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 10.68%, compared with 0.36% 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 (2.92 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.
Find the right allocation for ETHD and TQQQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer