IQQQ vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Nasdaq-100 High Income ETF (IQQQ) and S&P 500 Index (^GSPC).

IQQQ is a passively managed fund by ProShares that tracks the performance of the Nasdaq-100 Daily Covered Call Index. It was launched on Mar 18, 2024.

Performance

IQQQ vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 High Income ETF (IQQQ) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

IQQQ vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	-4.33%	17.11%	13.39%
^GSPC S&P 500 Index	-3.95%	16.39%	12.58%

Returns By Period

In the year-to-date period, IQQQ achieves a -4.33% return, which is significantly lower than ^GSPC's -3.95% return.

IQQQ

• 1D: 1.09%
• 1M: -4.09%
• YTD: -4.33%
• 6M: -2.69%
• 1Y: 19.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

IQQQ vs. ^GSPC — Risk / Return Rank

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

IQQQ

IQQQ Risk / Return Rank: 56
IQQQ Sharpe Ratio Rank: 55
IQQQ Sortino Ratio Rank: 50
IQQQ Omega Ratio Rank: 51
IQQQ Calmar Ratio Rank: 68
IQQQ Martin Ratio Rank: 56

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

IQQQ vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 High Income ETF (IQQQ) and S&P 500 Index (^GSPC). 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.

	IQQQ	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.02	0.92	+0.10
Sortino ratio Return per unit of downside risk	1.40	1.41	-0.01
Omega ratio Gain probability vs. loss probability	1.20	1.21	-0.02
Calmar ratio Return relative to maximum drawdown	1.81	1.41	+0.39
Martin ratio Return relative to average drawdown	5.67	6.61	-0.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IQQQ vs. ^GSPC - Sharpe Ratio Comparison

The current IQQQ Sharpe Ratio is 1.02, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of IQQQ and ^GSPC, 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

	IQQQ	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	0.92	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.46	+0.21

Correlation

The correlation between IQQQ and ^GSPC is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

IQQQ vs. ^GSPC - Drawdown Comparison

The maximum IQQQ drawdown since its inception was -20.41%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for IQQQ and ^GSPC.

Drawdown Indicators

	IQQQ	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-20.41%	-56.78%	+36.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-12.14%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-7.79%	-5.78%	-2.01%
Average Drawdown Average peak-to-trough decline	-3.83%	-10.75%	+6.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	2.60%	+1.11%

Volatility

IQQQ vs. ^GSPC - Volatility Comparison

ProShares Nasdaq-100 High Income ETF (IQQQ) has a higher volatility of 6.20% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that IQQQ's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQQQ	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	5.37%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	12.66%	9.55%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	18.33%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.87%	16.90%	+1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.87%	18.05%	+0.82%