IBIT vs. SQQQ
IBIT (iShares Bitcoin Trust ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past year, IBIT returned -39.44% vs -60.85% for SQQQ. At a correlation of -0.41, they often move in opposite directions. IBIT charges 0.25%/yr vs 0.95%/yr for SQQQ.
Performance
IBIT vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.71% return, which is significantly higher than SQQQ's -39.28% return.
IBIT
- 1D
- 5.13%
- 1M
- -21.03%
- YTD
- -27.71%
- 6M
- -30.34%
- 1Y
- -39.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ
- 1D
- -4.47%
- 1M
- -3.08%
- YTD
- -39.28%
- 6M
- -36.43%
- 1Y
- -60.85%
- 3Y*
- -54.68%
- 5Y*
- -47.98%
- 10Y*
- -55.68%
IBIT vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.71% | -6.41% | 99.21% |
SQQQ ProShares UltraPro Short QQQ | -39.28% | -53.05% | -49.94% |
Correlation
The correlation between IBIT and SQQQ is -0.50, 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 | -0.50 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | -0.41 |
The correlation between IBIT and SQQQ has been stable across timeframes, ranging from -0.50 to -0.41 - a consistent structural relationship.
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Return for Risk
IBIT vs. SQQQ — Risk / Return Rank
IBIT
SQQQ
IBIT vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and ProShares UltraPro Short QQQ (SQQQ). 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.
| IBIT | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.76 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | -0.93 | +0.17 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.69 | +0.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBIT | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.90 | -1.22 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.72 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | -0.87 | +1.13 |
Drawdowns
IBIT vs. SQQQ - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for IBIT and SQQQ.
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Drawdown Indicators
| IBIT | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -100.00% | +47.89% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -65.71% | +13.60% |
Max Drawdown (3Y)Largest decline over 3 years | — | -92.38% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.98% | — |
Current DrawdownCurrent decline from peak | -49.66% | -100.00% | +50.34% |
Average DrawdownAverage peak-to-trough decline | -16.19% | -92.40% | +76.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.97% | 35.98% | -7.01% |
Volatility
IBIT vs. SQQQ - Volatility Comparison
The current volatility for iShares Bitcoin Trust ETF (IBIT) is 11.85%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 19.65%. This indicates that IBIT experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.85% | 19.65% | -7.80% |
Volatility (6M)Calculated over the trailing 6-month period | 34.60% | 39.23% | -4.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.28% | 50.16% | -5.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.32% | 66.95% | -16.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.32% | 66.30% | -15.98% |
IBIT vs. SQQQ - Expense Ratio Comparison
IBIT has a 0.25% expense ratio, which is lower than SQQQ's 0.95% expense ratio.
Dividends
IBIT vs. SQQQ - Dividend Comparison
IBIT has not paid dividends to shareholders, while SQQQ's dividend yield for the trailing twelve months is around 11.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 11.25% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
IBIT and SQQQ 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.
SQQQ has higher volatility (19.65%) compared to IBIT (11.85%). In terms of maximum drawdown, IBIT dropped -52.11% vs SQQQ's -100.00%.
On 1-year performance, IBIT leads with -39.44% vs -60.85% for SQQQ. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 11.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIT has performed better with a -39.44% return vs -60.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.95% for SQQQ.
SQQQ has the higher dividend yield at 11.25%, compared with 0.00% for IBIT.
IBIT is categorized as Cryptocurrency, while SQQQ is Leveraged Equities. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while SQQQ tracks NASDAQ-100 Index (-300%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.25% for IBIT and 0.95% for SQQQ.
IBIT currently has the higher Sharpe Ratio (-0.90 vs -1.22), 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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