IQQQ vs. ^GSPC
IQQQ (ProShares Nasdaq-100 High Income ETF) is Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index, while ^GSPC (S&P 500 Index) is an index. Over the past year, IQQQ returned 37.52% vs 24.33% for ^GSPC. Their correlation of 0.93 suggests significant overlap in exposure.
Performance
IQQQ vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, IQQQ achieves a 17.74% return, which is significantly higher than ^GSPC's 8.39% return.
IQQQ
- 1D
- 2.57%
- 1M
- 2.84%
- YTD
- 17.74%
- 6M
- 17.33%
- 1Y
- 37.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
^GSPC
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
IQQQ vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IQQQ ProShares Nasdaq-100 High Income ETF | 17.74% | 17.11% | 14.82% |
^GSPC S&P 500 Index | 8.39% | 16.39% | 13.58% |
Correlation
The correlation between IQQQ and ^GSPC is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024 | 0.93 |
The correlation between IQQQ and ^GSPC has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
IQQQ vs. ^GSPC — Risk / Return Rank
IQQQ
^GSPC
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IQQQ | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.35 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 2.66 | +0.68 |
| Martin ratioReturn relative to average drawdown | 11.49 | 11.86 | -0.37 |
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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.
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Drawdown Indicators
| IQQQ | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.41% | -56.78% | +36.37% |
Max Drawdown (1Y)Largest decline over 1 year | -11.13% | -9.10% | -2.03% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.13% | -2.49% | +1.36% |
Average DrawdownAverage peak-to-trough decline | -3.63% | -10.72% | +7.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 2.03% | +1.19% |
Volatility
IQQQ vs. ^GSPC - Volatility Comparison
ProShares Nasdaq-100 High Income ETF (IQQQ) has a higher volatility of 7.78% compared to S&P 500 Index (^GSPC) at 4.65%. 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.
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Volatility by Period
| IQQQ | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.78% | 4.65% | +3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 13.43% | 9.86% | +3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.76% | 12.44% | +4.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.00% | 16.99% | +2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.00% | 18.10% | +0.90% |
Frequently Asked Questions
With a correlation of 0.92, IQQQ and ^GSPC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IQQQ has higher volatility (7.78%) compared to ^GSPC (4.65%). In terms of maximum drawdown, IQQQ dropped -20.41% vs ^GSPC's -56.78%.
IQQQ currently has the higher Sharpe Ratio (2.22 vs 1.94), 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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