IQMM vs. SQQQ

Last updated Jun 4, 2026

IQMM (ProShares GENIUS Money Market ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - IQMM is a Money Market fund actively managed by ProShares, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). IQMM is actively managed, while SQQQ is passively managed. At a 0.15 correlation, their price movements are largely independent. IQMM charges 0.15%/yr vs 0.95%/yr for SQQQ.

Performance

IQMM vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares GENIUS Money Market ETF (IQMM) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IQMM

• 1D: 0.01%
• 1M: 0.28%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SQQQ

• 1D: 0.76%
• 1M: -26.37%
• YTD: -45.27%
• 6M: -42.79%
• 1Y: -65.16%
• 3Y*: -56.19%
• 5Y*: -49.17%
• 10Y*: -56.01%

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

IQMM vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)
IQMM ProShares GENIUS Money Market ETF	0.98%
SQQQ ProShares UltraPro Short QQQ	-48.08%

Correlation

The correlation between IQMM and SQQQ is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 20, 2026	0.15

Return for Risk

IQMM vs. SQQQ — Risk / Return Rank

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

SQQQ

SQQQ Risk / Return Rank: 0
SQQQ Sharpe Ratio Rank: 0
SQQQ Sortino Ratio Rank: 0
SQQQ Omega Ratio Rank: 0
SQQQ Calmar Ratio Rank: 0
SQQQ Martin Ratio Rank: 0

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.

IQMM vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares GENIUS Money Market ETF (IQMM) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IQMM	SQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-1.37	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	16.18	-0.88	+17.06

Drawdowns

IQMM vs. SQQQ - Drawdown Comparison

The maximum IQMM drawdown since its inception was -0.02%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for IQMM and SQQQ.

Drawdown Indicators

	IQMM	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-0.02%	-100.00%	+99.98%
Max Drawdown (1Y) Largest decline over 1 year	—	-65.95%	—
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 Drawdown Current decline from peak	-0.00%	-100.00%	+100.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-92.40%	+92.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	35.73%	—

Volatility

Volatility by Period

	IQMM	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.22%	47.79%	-47.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.22%	66.64%	-66.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.22%	66.11%	-65.89%

IQMM vs. SQQQ - Expense Ratio Comparison

IQMM has a 0.15% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

IQMM vs. SQQQ - Dividend Comparison

IQMM's dividend yield for the trailing twelve months is around 0.94%, less than SQQQ's 12.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IQMM ProShares GENIUS Money Market ETF	0.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SQQQ ProShares UltraPro Short QQQ	12.48%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both IQMM and SQQQ in my portfolio?

IQMM and SQQQ have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQMM or SQQQ?

On fees, IQMM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQMM or SQQQ?

IQMM is cheaper with a 0.15% expense ratio, compared with 0.95% for SQQQ.

Which ETF pays a higher dividend yield, IQMM or SQQQ?

SQQQ has the higher dividend yield at 12.48%, compared with 0.94% for IQMM.

What is the main difference between IQMM and SQQQ?

IQMM is categorized as Money Market, while SQQQ is Leveraged Equities. Their fees differ too: 0.15% for IQMM and 0.95% for SQQQ.