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 -11.12%/yr vs -56.01%/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 -11.13% return, which is significantly higher than SQQQ's -45.27% return. Over the past 10 years, MYY has outperformed SQQQ with an annualized return of -11.12%, while SQQQ has yielded a comparatively lower -56.01% annualized return.
MYY
- 1D
- 0.02%
- 1M
- -3.52%
- YTD
- -11.13%
- 6M
- -11.03%
- 1Y
- -16.67%
- 3Y*
- -9.90%
- 5Y*
- -5.92%
- 10Y*
- -11.12%
SQQQ
- 1D
- 0.76%
- 1M
- -26.37%
- YTD
- -45.27%
- 6M
- -42.79%
- 1Y
- -65.16%
- 3Y*
- -56.19%
- 5Y*
- -49.17%
- 10Y*
- -56.01%
MYY vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.13% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
SQQQ ProShares UltraPro Short QQQ | -45.27% | -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 | 0.63 |
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 12, 2010 | 0.73 |
The correlation between MYY and SQQQ has been stable across timeframes, ranging from 0.63 to 0.73 - a consistent structural relationship.
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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.
| MYY | SQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.08 | -1.37 | +0.29 |
Sortino ratioReturn per unit of downside risk | -1.45 | -2.63 | +1.18 |
Omega ratioGain probability vs. loss probability | 0.83 | 0.72 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.99 | +0.04 |
Martin ratioReturn relative to average drawdown | -1.75 | -1.82 | +0.08 |
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
| MYY | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | -1.37 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | -0.74 | +0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.52 | -0.85 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.53 | -0.88 | +0.35 |
Drawdowns
MYY vs. SQQQ - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.08%, 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 | -95.08% | -100.00% | +4.92% |
Max Drawdown (1Y)Largest decline over 1 year | -17.58% | -65.95% | +48.37% |
Max Drawdown (3Y)Largest decline over 3 years | -33.48% | -92.38% | +58.90% |
Max Drawdown (5Y)Largest decline over 5 years | -36.20% | -97.23% | +61.03% |
Max Drawdown (10Y)Largest decline over 10 years | -71.22% | -99.98% | +28.76% |
Current DrawdownCurrent decline from peak | -95.07% | -100.00% | +4.93% |
Average DrawdownAverage peak-to-trough decline | -72.15% | -92.40% | +20.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.56% | 35.73% | -26.17% |
Volatility
MYY vs. SQQQ - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.41%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.75%. 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 | 4.41% | 13.75% | -9.34% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 36.45% | -25.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.59% | 47.79% | -32.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 66.64% | -47.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.25% | 66.11% | -44.86% |
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 4.45%, less than SQQQ's 12.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.45% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 12.48% | 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 (13.75%) compared to MYY (4.41%). In terms of maximum drawdown, MYY dropped -95.08% vs SQQQ's -100.00%.
On 10-year performance, MYY leads with -11.12% vs -56.01% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 4.41%. 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 -11.12% return vs -56.01%. 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 12.48%, compared with 4.45% 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 (-1.08 vs -1.37), 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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