GLD vs. TQQQ
GLD (SPDR Gold Shares) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, GLD returned 11.25%/yr vs 45.25%/yr for TQQQ. At a 0.04 correlation, their price movements are largely independent. GLD charges 0.40%/yr vs 0.95%/yr for TQQQ.
Performance
GLD vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, GLD achieves a -7.67% return, which is significantly lower than TQQQ's 39.27% return. Over the past 10 years, GLD has underperformed TQQQ with an annualized return of 11.25%, while TQQQ has yielded a comparatively higher 45.25% annualized return.
GLD
- 1D
- -3.02%
- 1M
- -11.58%
- YTD
- -7.67%
- 6M
- -11.17%
- 1Y
- 19.51%
- 3Y*
- 27.10%
- 5Y*
- 17.04%
- 10Y*
- 11.25%
TQQQ
- 1D
- -1.53%
- 1M
- -5.83%
- YTD
- 39.27%
- 6M
- 32.62%
- 1Y
- 89.02%
- 3Y*
- 57.21%
- 5Y*
- 21.17%
- 10Y*
- 45.25%
GLD vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | -7.67% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
TQQQ ProShares UltraPro QQQ | 39.27% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between GLD and TQQQ is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.04 |
Over the past year, GLD and TQQQ have become more correlated (0.27) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
GLD vs. TQQQ — Risk / Return Rank
GLD
TQQQ
GLD vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) 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.
| GLD | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.28 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 2.42 | -1.67 |
| Martin ratioReturn relative to average drawdown | 2.12 | 7.68 | -5.56 |
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Drawdowns
GLD vs. TQQQ - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for GLD and TQQQ.
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Drawdown Indicators
| GLD | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -81.66% | +36.10% |
Max Drawdown (1Y)Largest decline over 1 year | -26.21% | -36.97% | +10.76% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -58.04% | +31.83% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | -81.66% | +55.45% |
Max Drawdown (10Y)Largest decline over 10 years | -26.21% | -81.66% | +55.45% |
Current DrawdownCurrent decline from peak | -26.21% | -15.96% | -10.25% |
Average DrawdownAverage peak-to-trough decline | -16.17% | -18.49% | +2.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.24% | 11.64% | -2.40% |
Volatility
GLD vs. TQQQ - Volatility Comparison
The current volatility for SPDR Gold Shares (GLD) is 8.58%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 27.27%. This indicates that GLD experiences smaller price fluctuations and is considered to be less risky 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
| GLD | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 27.27% | -18.69% |
Volatility (6M)Calculated over the trailing 6-month period | 24.57% | 43.24% | -18.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.75% | 53.35% | -25.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.30% | 67.41% | -49.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 66.31% | -50.24% |
GLD vs. TQQQ - Expense Ratio Comparison
GLD has a 0.40% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Dividends
GLD vs. TQQQ - Dividend Comparison
GLD has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.43% | 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
GLD and TQQQ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (27.27%) compared to GLD (8.58%). In terms of maximum drawdown, GLD dropped -45.56% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 45.25% vs 11.25% for GLD. On fees, GLD is cheaper at 0.40% per year. On volatility, GLD has been the lower-risk option at 8.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 45.25% return vs 11.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.95% for TQQQ.
TQQQ has the higher dividend yield at 0.43%, compared with 0.00% for GLD.
GLD is categorized as Gold, while TQQQ is Leveraged Equities. GLD tracks LBMA Gold Price PM, while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.40% for GLD and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (1.68 vs 0.71), 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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