IGHG vs. QLD

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Investment Grade-Interest Rate Hedged (IGHG) and ProShares Ultra QQQ (QLD).

IGHG and QLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGHG is a passively managed fund by ProShares that tracks the performance of the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. It was launched on Nov 5, 2013. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006. Both IGHG and QLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IGHG vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Investment Grade-Interest Rate Hedged (IGHG) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

IGHG vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGHG ProShares Investment Grade-Interest Rate Hedged	-0.14%	5.65%	9.20%	11.58%	-0.90%	0.88%	0.61%	12.73%	-3.96%	4.49%
QLD ProShares Ultra QQQ	-13.35%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%

Returns By Period

In the year-to-date period, IGHG achieves a -0.14% return, which is significantly higher than QLD's -13.35% return. Over the past 10 years, IGHG has underperformed QLD with an annualized return of 4.67%, while QLD has yielded a comparatively higher 29.40% annualized return.

IGHG

• 1D: 0.59%
• 1M: 0.46%
• YTD: -0.14%
• 6M: 0.80%
• 1Y: 6.35%
• 3Y*: 8.08%
• 5Y*: 4.75%
• 10Y*: 4.67%

QLD

• 1D: 6.72%
• 1M: -10.26%
• YTD: -13.35%
• 6M: -11.03%
• 1Y: 37.53%
• 3Y*: 35.41%
• 5Y*: 15.27%
• 10Y*: 29.40%

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

IGHG vs. QLD - Expense Ratio Comparison

IGHG has a 0.30% expense ratio, which is lower than QLD's 0.95% expense ratio.

QLD

ProShares Ultra QQQ

IGHG

ProShares Investment Grade-Interest Rate Hedged

Return for Risk

IGHG vs. QLD — Risk / Return Rank

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

IGHG

IGHG Risk / Return Rank: 83
IGHG Sharpe Ratio Rank: 80
IGHG Sortino Ratio Rank: 85
IGHG Omega Ratio Rank: 77
IGHG Calmar Ratio Rank: 87
IGHG Martin Ratio Rank: 88

QLD

QLD Risk / Return Rank: 57
QLD Sharpe Ratio Rank: 51
QLD Sortino Ratio Rank: 59
QLD Omega Ratio Rank: 58
QLD Calmar Ratio Rank: 63
QLD Martin Ratio Rank: 55

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.

IGHG vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) and ProShares Ultra QQQ (QLD). 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.

	IGHG	QLD	Difference
Sharpe ratio Return per unit of total volatility	1.48	0.84	+0.64
Sortino ratio Return per unit of downside risk	2.22	1.43	+0.78
Omega ratio Gain probability vs. loss probability	1.28	1.20	+0.08
Calmar ratio Return relative to maximum drawdown	2.67	1.49	+1.18
Martin ratio Return relative to average drawdown	10.52	4.88	+5.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGHG vs. QLD - Sharpe Ratio Comparison

The current IGHG Sharpe Ratio is 1.48, which is higher than the QLD Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of IGHG and QLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IGHG	QLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	0.84	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.34	+0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.66	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.53	-0.02

Correlation

The correlation between IGHG and QLD is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IGHG vs. QLD - Dividend Comparison

IGHG's dividend yield for the trailing twelve months is around 5.18%, more than QLD's 0.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGHG ProShares Investment Grade-Interest Rate Hedged	5.18%	5.14%	5.06%	4.99%	3.55%	2.50%	2.79%	3.48%	4.13%	3.36%	3.37%	3.65%
QLD ProShares Ultra QQQ	0.19%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%

Drawdowns

IGHG vs. QLD - Drawdown Comparison

The maximum IGHG drawdown since its inception was -25.16%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for IGHG and QLD.

Drawdown Indicators

	IGHG	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-25.16%	-83.13%	+57.97%
Max Drawdown (1Y) Largest decline over 1 year	-2.30%	-25.13%	+22.83%
Max Drawdown (5Y) Largest decline over 5 years	-8.75%	-63.68%	+54.93%
Max Drawdown (10Y) Largest decline over 10 years	-25.16%	-63.68%	+38.52%
Current Drawdown Current decline from peak	-1.00%	-20.10%	+19.10%
Average Drawdown Average peak-to-trough decline	-2.33%	-18.30%	+15.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	7.67%	-7.09%

Volatility

IGHG vs. QLD - Volatility Comparison

The current volatility for ProShares Investment Grade-Interest Rate Hedged (IGHG) is 1.20%, while ProShares Ultra QQQ (QLD) has a volatility of 12.96%. This indicates that IGHG experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGHG	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	12.96%	-11.76%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	25.55%	-22.68%
Volatility (1Y) Calculated over the trailing 1-year period	4.31%	44.91%	-40.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.06%	44.77%	-39.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.48%	44.47%	-36.99%