IQQQ vs. KHPI

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Nasdaq-100 High Income ETF (IQQQ) and Kensington Hedged Premium Income ETF (KHPI).

IQQQ and KHPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. KHPI is an actively managed fund by Kensington Asset Management. It was launched on Sep 4, 2024.

Performance

IQQQ vs. KHPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 High Income ETF (IQQQ) and Kensington Hedged Premium Income ETF (KHPI). The values are adjusted to include any dividend payments, if applicable.

IQQQ vs. KHPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	-5.36%	17.11%	10.66%
KHPI Kensington Hedged Premium Income ETF	-3.49%	11.14%	4.29%

Returns By Period

In the year-to-date period, IQQQ achieves a -5.36% return, which is significantly lower than KHPI's -3.49% return.

IQQQ

• 1D: 2.65%
• 1M: -4.90%
• YTD: -5.36%
• 6M: -3.13%
• 1Y: 19.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KHPI

• 1D: 1.47%
• 1M: -4.68%
• YTD: -3.49%
• 6M: -0.79%
• 1Y: 10.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IQQQ vs. KHPI - Expense Ratio Comparison

IQQQ has a 0.55% expense ratio, which is lower than KHPI's 0.96% expense ratio.

KHPI

Kensington Hedged Premium Income ETF

IQQQ

ProShares Nasdaq-100 High Income ETF

Return for Risk

IQQQ vs. KHPI — Risk / Return Rank

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

IQQQ

IQQQ Risk / Return Rank: 61
IQQQ Sharpe Ratio Rank: 61
IQQQ Sortino Ratio Rank: 58
IQQQ Omega Ratio Rank: 57
IQQQ Calmar Ratio Rank: 70
IQQQ Martin Ratio Rank: 58

KHPI

KHPI Risk / Return Rank: 61
KHPI Sharpe Ratio Rank: 54
KHPI Sortino Ratio Rank: 55
KHPI Omega Ratio Rank: 60
KHPI Calmar Ratio Rank: 64
KHPI Martin Ratio Rank: 71

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. KHPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 High Income ETF (IQQQ) and Kensington Hedged Premium Income ETF (KHPI). 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	KHPI	Difference
Sharpe ratio Return per unit of total volatility	1.02	0.97	+0.05
Sortino ratio Return per unit of downside risk	1.40	1.46	-0.05
Omega ratio Gain probability vs. loss probability	1.20	1.22	-0.02
Calmar ratio Return relative to maximum drawdown	1.68	1.64	+0.05
Martin ratio Return relative to average drawdown	5.33	7.34	-2.01
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. KHPI - Sharpe Ratio Comparison

The current IQQQ Sharpe Ratio is 1.02, which is comparable to the KHPI Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of IQQQ and KHPI, 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	KHPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	0.97	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.76	-0.13

Correlation

The correlation between IQQQ and KHPI is 0.78, 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.

Dividends

IQQQ vs. KHPI - Dividend Comparison

IQQQ's dividend yield for the trailing twelve months is around 10.31%, more than KHPI's 9.44% yield.

	TTM	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	10.31%	10.34%	7.27%
KHPI Kensington Hedged Premium Income ETF	9.44%	8.90%	3.01%

Drawdowns

IQQQ vs. KHPI - Drawdown Comparison

The maximum IQQQ drawdown since its inception was -20.41%, which is greater than KHPI's maximum drawdown of -10.58%. Use the drawdown chart below to compare losses from any high point for IQQQ and KHPI.

Drawdown Indicators

	IQQQ	KHPI	Difference
Max Drawdown Largest peak-to-trough decline	-20.41%	-10.58%	-9.83%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-6.55%	-5.08%
Current Drawdown Current decline from peak	-8.78%	-5.18%	-3.60%
Average Drawdown Average peak-to-trough decline	-3.83%	-1.27%	-2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	1.46%	+2.22%

Volatility

IQQQ vs. KHPI - Volatility Comparison

ProShares Nasdaq-100 High Income ETF (IQQQ) has a higher volatility of 6.14% compared to Kensington Hedged Premium Income ETF (KHPI) at 3.18%. This indicates that IQQQ's price experiences larger fluctuations and is considered to be riskier than KHPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQQQ	KHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	3.18%	+2.96%
Volatility (6M) Calculated over the trailing 6-month period	12.61%	5.25%	+7.36%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	10.96%	+8.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.87%	9.79%	+9.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.87%	9.79%	+9.08%