ETHT vs. TQQQ
ETHT (ProShares Ultra Ether ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - ETHT is a Cryptocurrency fund tracking the Bloomberg Ethereum Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past year, ETHT returned -85.62% vs 56.87% for TQQQ. Their 0.50 correlation means they have sometimes moved together and sometimes differently. ETHT charges 0.94%/yr vs 0.95%/yr for TQQQ.
Performance
ETHT vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, ETHT achieves a -73.01% return, which is significantly lower than TQQQ's 23.06% return.
ETHT
- 1D
- -6.05%
- 1M
- 16.78%
- 6M
- -64.86%
- YTD
- -73.01%
- 1Y
- -85.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -74.84%
TQQQ
- 1D
- 2.09%
- 1M
- -11.90%
- 6M
- 20.14%
- YTD
- 23.06%
- 1Y
- 56.87%
- 3Y*
- 43.81%
- 5Y*
- 15.36%
- 10Y*
- 39.46%
- ALL TIME*
- 42.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $15.50M | $16.35M | $20.04M | |
| $4.37B | $4.57B | $5.33B |
ETHT vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHT ProShares Ultra Ether ETF | -73.01% | -64.86% | -45.44% |
TQQQ ProShares UltraPro QQQ | 23.06% | 34.35% | 18.68% |
Correlation
The correlation between ETHT and TQQQ is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2024 | 0.50 |
The correlation between ETHT and TQQQ has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.
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Return for Risk
ETHT vs. TQQQ — Risk / Return Rank
ETHT
TQQQ
ETHT vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Ether ETF (ETHT) 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.
| ETHT | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.17 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 1.29 | -2.22 |
| Martin ratioReturn relative to average drawdown | -1.21 | 3.60 | -4.80 |
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Drawdowns
ETHT vs. TQQQ - Drawdown Comparison
The maximum ETHT drawdown since its inception was -96.25%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for ETHT and TQQQ.
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Drawdown Indicators
| ETHT | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.25% | -81.66% | -14.59% |
Max Drawdown (1Y)Largest decline over 1 year | -94.27% | -36.97% | -57.30% |
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 | -94.83% | -25.74% | -69.09% |
Average DrawdownAverage peak-to-trough decline | -69.06% | -18.49% | -50.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.31% | 13.24% | +59.07% |
Volatility
ETHT vs. TQQQ - Volatility Comparison
ProShares Ultra Ether ETF (ETHT) has a higher volatility of 25.98% compared to ProShares UltraPro QQQ (TQQQ) at 20.41%. This indicates that ETHT'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.
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Volatility by Period
| ETHT | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.98% | 20.41% | +5.57% |
Volatility (6M)Calculated over the trailing 6-month period | 92.64% | 47.79% | +44.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 134.08% | 57.62% | +76.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 141.09% | 68.04% | +73.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 141.09% | 66.57% | +74.52% |
ETHT vs. TQQQ - Expense Ratio Comparison
ETHT has a 0.94% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Dividends
ETHT vs. TQQQ - Dividend Comparison
ETHT's dividend yield for the trailing twelve months is around 17.73%, more than TQQQ's 0.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETHT ProShares Ultra Ether ETF | 17.73% | 4.57% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.58% | 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
ETHT 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.
ETHT has higher volatility (25.98%) compared to TQQQ (20.41%). In terms of maximum drawdown, ETHT dropped -96.25% vs TQQQ's -81.66%.
On 1-year performance, TQQQ leads with 56.87% vs -85.62% for ETHT. On fees, ETHT is cheaper at 0.94% per year. On volatility, TQQQ has been the lower-risk option at 20.41%. 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 56.87% return vs -85.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHT is cheaper with a 0.94% expense ratio, compared with 0.95% for TQQQ.
ETHT has the higher dividend yield at 17.73%, compared with 0.58% for TQQQ.
ETHT is categorized as Cryptocurrency, while TQQQ is Leveraged Equities. ETHT tracks Bloomberg Ethereum Index, while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 0.94% for ETHT and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (0.83 vs -0.65), 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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