HOOY vs. TQQQ

Last updated Jun 4, 2026

HOOY (YieldMax HOOD Option Income Strategy ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - HOOY is a Derivative Income fund actively managed by YieldMax, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). HOOY is actively managed, while TQQQ is passively managed. Over the past year, HOOY returned 9.03% vs 137.89% for TQQQ. A 0.60 correlation means they provide meaningful diversification when combined. HOOY charges 0.99%/yr vs 0.95%/yr for TQQQ.

Performance

HOOY vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax HOOD Option Income Strategy ETF (HOOY) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOOY achieves a -20.00% return, which is significantly lower than TQQQ's 64.46% return.

HOOY

• 1D: -4.94%
• 1M: 7.42%
• YTD: -20.00%
• 6M: -29.79%
• 1Y: 9.03%
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HOOY vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025
HOOY YieldMax HOOD Option Income Strategy ETF	-20.00%	64.95%
TQQQ ProShares UltraPro QQQ	64.46%	79.33%

Correlation

The correlation between HOOY and TQQQ is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since May 9, 2025	0.60

The correlation between HOOY and TQQQ has been stable across timeframes, ranging from 0.60 to 0.60 - a consistent structural relationship.

Return for Risk

HOOY vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HOOY

HOOY Risk / Return Rank: 12
HOOY Sharpe Ratio Rank: 11
HOOY Sortino Ratio Rank: 13
HOOY Omega Ratio Rank: 14
HOOY Calmar Ratio Rank: 11
HOOY Martin Ratio Rank: 10

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HOOY vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax HOOD Option Income Strategy ETF (HOOY) 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.

	HOOY	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.16	2.92	-2.75
Sortino ratio: Return per unit of downside risk	0.62	3.09	-2.47
Omega ratio: Gain probability vs. loss probability	1.08	1.40	-0.33
Calmar ratio: Return relative to maximum drawdown	0.18	3.75	-3.58
Martin ratio: Return relative to average drawdown	0.32	12.27	-11.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOOY vs. TQQQ - Sharpe Ratio Comparison

The current HOOY Sharpe Ratio is 0.16, which is lower than the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of HOOY and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HOOY	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	2.92	-2.75
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	0.55	0.74	-0.19

Drawdowns

HOOY vs. TQQQ - Drawdown Comparison

The maximum HOOY drawdown since its inception was -51.54%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for HOOY and TQQQ.

Drawdown Indicators

	HOOY	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-51.54%	-81.66%	+30.12%
Max Drawdown (1Y) Largest decline over 1 year	-51.54%	-36.97%	-14.57%
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 Drawdown Current decline from peak	-40.38%	-0.76%	-39.62%
Average Drawdown Average peak-to-trough decline	-20.18%	-18.52%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.24%	11.28%	+16.96%

Volatility

HOOY vs. TQQQ - Volatility Comparison

YieldMax HOOD Option Income Strategy ETF (HOOY) has a higher volatility of 15.59% compared to ProShares UltraPro QQQ (TQQQ) at 13.29%. This indicates that HOOY'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.

Volatility by Period

	HOOY	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.59%	13.29%	+2.30%
Volatility (6M) Calculated over the trailing 6-month period	41.92%	36.04%	+5.88%
Volatility (1Y) Calculated over the trailing 1-year period	55.33%	47.60%	+7.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.48%	66.53%	-12.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.48%	65.96%	-11.48%

HOOY vs. TQQQ - Expense Ratio Comparison

HOOY has a 0.99% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

HOOY vs. TQQQ - Dividend Comparison

HOOY's dividend yield for the trailing twelve months is around 160.00%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HOOY YieldMax HOOD Option Income Strategy ETF	160.00%	82.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.36%	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

Can I hold both HOOY and TQQQ in my portfolio?

HOOY and TQQQ have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOOY or TQQQ?

HOOY has higher volatility (15.59%) compared to TQQQ (13.29%). In terms of maximum drawdown, HOOY dropped -51.54% vs TQQQ's -81.66%.

Which ETF is better, HOOY or TQQQ?

On 1-year performance, TQQQ leads with 137.89% vs 9.03% for HOOY. 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.

Which ETF has performed better, HOOY or TQQQ?

Over the 1-year period, TQQQ has performed better with a 137.89% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOY or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 0.99% for HOOY.

Which ETF pays a higher dividend yield, HOOY or TQQQ?

HOOY has the higher dividend yield at 160.00%, compared with 0.36% for TQQQ.

What is the main difference between HOOY and TQQQ?

HOOY is categorized as Derivative Income, while TQQQ is Leveraged Equities. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 0.99% for HOOY and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 vs 0.16), 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.