IQQQ vs. SQQQ
Compare and contrast key facts about ProShares Nasdaq-100 High Income ETF (IQQQ) and ProShares UltraPro Short QQQ (SQQQ).
IQQQ and SQQQ 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. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. Both IQQQ and SQQQ 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
IQQQ vs. SQQQ - Performance Comparison
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IQQQ vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IQQQ ProShares Nasdaq-100 High Income ETF | -4.33% | 17.11% | 13.39% |
SQQQ ProShares UltraPro Short QQQ | 13.99% | -53.05% | -36.22% |
Returns By Period
In the year-to-date period, IQQQ achieves a -4.33% return, which is significantly lower than SQQQ's 13.99% return.
IQQQ
- 1D
- 1.09%
- 1M
- -4.09%
- YTD
- -4.33%
- 6M
- -2.69%
- 1Y
- 19.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ
- 1D
- -3.78%
- 1M
- 10.61%
- YTD
- 13.99%
- 6M
- 6.42%
- 1Y
- -56.13%
- 3Y*
- -49.39%
- 5Y*
- -42.70%
- 10Y*
- -52.71%
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IQQQ vs. SQQQ - Expense Ratio Comparison
IQQQ has a 0.55% expense ratio, which is lower than SQQQ's 0.95% expense ratio.
Return for Risk
IQQQ vs. SQQQ — Risk / Return Rank
IQQQ
SQQQ
IQQQ vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 High Income ETF (IQQQ) 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.
| IQQQ | SQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | -0.84 | +1.85 |
Sortino ratioReturn per unit of downside risk | 1.40 | -1.14 | +2.54 |
Omega ratioGain probability vs. loss probability | 1.20 | 0.84 | +0.36 |
Calmar ratioReturn relative to maximum drawdown | 1.81 | -0.76 | +2.57 |
Martin ratioReturn relative to average drawdown | 5.67 | -0.87 | +6.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IQQQ | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | -0.84 | +1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.64 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | -0.85 | +1.51 |
Correlation
The correlation between IQQQ and SQQQ is -0.99. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
IQQQ vs. SQQQ - Dividend Comparison
IQQQ's dividend yield for the trailing twelve months is around 8.71%, more than SQQQ's 5.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IQQQ ProShares Nasdaq-100 High Income ETF | 8.71% | 10.34% | 7.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 5.99% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Drawdowns
IQQQ vs. SQQQ - Drawdown Comparison
The maximum IQQQ drawdown since its inception was -20.41%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for IQQQ and SQQQ.
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Drawdown Indicators
| IQQQ | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.41% | -100.00% | +79.59% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -75.23% | +63.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -95.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.96% | — |
Current DrawdownCurrent decline from peak | -7.79% | -100.00% | +92.21% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -92.32% | +88.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 65.40% | -61.69% |
Volatility
IQQQ vs. SQQQ - Volatility Comparison
The current volatility for ProShares Nasdaq-100 High Income ETF (IQQQ) is 6.20%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 19.98%. This indicates that IQQQ experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQQQ | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 19.98% | -13.78% |
Volatility (6M)Calculated over the trailing 6-month period | 12.66% | 38.23% | -25.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.48% | 67.38% | -47.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 66.65% | -47.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.87% | 65.97% | -47.10% |