MYY vs. QLD
MYY (ProShares Short S&P Mid Cap400) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, MYY returned -10.83%/yr vs 34.58%/yr for QLD. At a correlation of -0.76, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
MYY vs. QLD - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.44% return, which is significantly lower than QLD's 30.96% return. Over the past 10 years, MYY has underperformed QLD with an annualized return of -10.83%, while QLD has yielded a comparatively higher 34.58% annualized return.
MYY
- 1D
- -0.46%
- 1M
- 0.78%
- 6M
- -7.17%
- YTD
- -11.44%
- 1Y
- -13.30%
- 3Y*
- -8.18%
- 5Y*
- -6.45%
- 10Y*
- -10.83%
QLD
- 1D
- 2.22%
- 1M
- -1.27%
- 6M
- 26.30%
- YTD
- 30.96%
- 1Y
- 54.67%
- 3Y*
- 40.14%
- 5Y*
- 20.25%
- 10Y*
- 34.58%
MYY vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.44% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
QLD ProShares Ultra QQQ | 30.96% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between MYY and QLD is -0.64, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006 | -0.76 |
The correlation between MYY and QLD shifts across timeframes, from -0.76 (all time) to -0.64 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MYY vs. QLD — Risk / Return Rank
MYY
QLD
MYY vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and ProShares Ultra QQQ (QLD). 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.
| MYY | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.26 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 2.19 | -2.92 |
| Martin ratioReturn relative to average drawdown | -1.37 | 7.14 | -8.51 |
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Drawdowns
MYY vs. QLD - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.20%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for MYY and QLD.
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Drawdown Indicators
| MYY | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.20% | -83.13% | -12.07% |
Max Drawdown (1Y)Largest decline over 1 year | -18.25% | -25.13% | +6.88% |
Max Drawdown (3Y)Largest decline over 3 years | -35.14% | -42.29% | +7.15% |
Max Drawdown (5Y)Largest decline over 5 years | -37.79% | -63.68% | +25.89% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | -63.68% | -8.25% |
Current DrawdownCurrent decline from peak | -95.09% | -8.29% | -86.80% |
Average DrawdownAverage peak-to-trough decline | -72.26% | -18.11% | -54.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.71% | 7.68% | +2.03% |
Volatility
MYY vs. QLD - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 3.48%, while ProShares Ultra QQQ (QLD) has a volatility of 16.07%. This indicates that MYY experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYY | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 16.07% | -12.59% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 30.65% | -18.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.80% | 37.05% | -21.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.60% | 45.57% | -25.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 44.86% | -23.65% |
MYY vs. QLD - Expense Ratio Comparison
Both MYY and QLD have an expense ratio of 0.95%.
Dividends
MYY vs. QLD - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.31%, more than QLD's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.31% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 0.00% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Frequently Asked Questions
MYY and QLD have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (16.07%) compared to MYY (3.48%). In terms of maximum drawdown, MYY dropped -95.20% vs QLD's -83.13%.
On 10-year performance, QLD leads with 34.58% vs -10.83% for MYY. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 3.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 34.58% return vs -10.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MYY and QLD have the same expense ratio: 0.95% per year.
MYY has the higher dividend yield at 4.31%, compared with 0.13% for QLD.
MYY is categorized as Inverse Equities, while QLD is Leveraged Equities. MYY tracks S&P Mid Cap 400 (-100%), while QLD tracks NASDAQ-100 Index (200%).
QLD currently has the higher Sharpe Ratio (1.48 vs -0.84), 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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