MYY vs. SQQQ
MYY (ProShares Short S&P Mid Cap400) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, MYY returned -11.38%/yr vs -56.24%/yr for SQQQ. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
MYY vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.47% return, which is significantly higher than SQQQ's -40.31% return. Over the past 10 years, MYY has outperformed SQQQ with an annualized return of -11.38%, while SQQQ has yielded a comparatively lower -56.24% annualized return.
MYY
- 1D
- 0.97%
- 1M
- -2.32%
- YTD
- -11.47%
- 6M
- -9.76%
- 1Y
- -16.72%
- 3Y*
- -9.96%
- 5Y*
- -6.13%
- 10Y*
- -11.38%
SQQQ
- 1D
- 9.83%
- 1M
- -2.27%
- YTD
- -40.31%
- 6M
- -37.80%
- 1Y
- -61.11%
- 3Y*
- -53.86%
- 5Y*
- -46.89%
- 10Y*
- -56.24%
MYY vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.47% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
SQQQ ProShares UltraPro Short QQQ | -40.31% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between MYY and SQQQ is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.73 |
The correlation between MYY and SQQQ shifts across timeframes, from 0.63 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MYY vs. SQQQ — Risk / Return Rank
MYY
SQQQ
MYY vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) 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.
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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.78 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.96 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.82 | -1.81 | -0.01 |
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Drawdowns
MYY vs. SQQQ - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.14%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for MYY and SQQQ.
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Drawdown Indicators
| MYY | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.14% | -100.00% | +4.86% |
Max Drawdown (1Y)Largest decline over 1 year | -17.48% | -63.52% | +46.04% |
Max Drawdown (3Y)Largest decline over 3 years | -34.39% | -92.51% | +58.12% |
Max Drawdown (5Y)Largest decline over 5 years | -37.07% | -97.27% | +60.20% |
Max Drawdown (10Y)Largest decline over 10 years | -71.61% | -99.98% | +28.37% |
Current DrawdownCurrent decline from peak | -95.09% | -100.00% | +4.91% |
Average DrawdownAverage peak-to-trough decline | -72.19% | -92.73% | +20.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.25% | 36.37% | -27.12% |
Volatility
MYY vs. SQQQ - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.50%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. This indicates that MYY 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
| MYY | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.50% | 26.69% | -22.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 43.33% | -31.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.86% | 53.65% | -37.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.63% | 67.53% | -47.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.24% | 66.47% | -45.23% |
MYY vs. SQQQ - Expense Ratio Comparison
Both MYY and SQQQ have an expense ratio of 0.95%.
Dividends
MYY vs. SQQQ - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.47%, less than SQQQ's 11.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.47% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 11.44% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
MYY and SQQQ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.69%) compared to MYY (4.50%). In terms of maximum drawdown, MYY dropped -95.14% vs SQQQ's -100.00%.
On 10-year performance, MYY leads with -11.38% vs -56.24% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MYY has performed better with a -11.38% return vs -56.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MYY and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 11.44%, compared with 4.47% for MYY.
MYY is categorized as Inverse Equities, while SQQQ is Leveraged Equities. MYY tracks S&P Mid Cap 400 (-100%), while SQQQ tracks NASDAQ-100 Index (-300%).
MYY currently has the higher Sharpe Ratio (-1.06 vs -1.14), 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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