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 -10.81%/yr vs -54.48%/yr for SQQQ. Their 0.73 correlation means they have sometimes moved together and sometimes differently. 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 -10.96% return, which is significantly higher than SQQQ's -34.61% return. Over the past 10 years, MYY has outperformed SQQQ with an annualized return of -10.81%, while SQQQ has yielded a comparatively lower -54.48% annualized return.
MYY
- 1D
- 0.02%
- 1M
- 1.28%
- 6M
- -7.74%
- YTD
- -10.96%
- 1Y
- -15.28%
- 3Y*
- -7.56%
- 5Y*
- -5.91%
- 10Y*
- -10.81%
- ALL TIME*
- -11.59%
SQQQ
- 1D
- -1.99%
- 1M
- 9.46%
- 6M
- -32.40%
- YTD
- -34.61%
- 1Y
- -52.32%
- 3Y*
- -49.83%
- 5Y*
- -44.46%
- 10Y*
- -54.48%
- ALL TIME*
- -52.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $319.02K | $183.72K | $161.47K | |
| $2.40B | $2.29B | $2.66B |
MYY vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -10.96% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
SQQQ ProShares UltraPro Short QQQ | -34.61% | -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 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.73 |
The correlation between MYY and SQQQ has been stable across timeframes, ranging from 0.65 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.
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 | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.86 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -0.81 | +0.05 |
| Martin ratioReturn relative to average drawdown | -1.35 | -1.41 | +0.06 |
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Drawdowns
MYY vs. SQQQ - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.20%, 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 | -95.20% | -100.00% | +4.80% |
Max Drawdown (1Y)Largest decline over 1 year | -18.25% | -61.03% | +42.78% |
Max Drawdown (3Y)Largest decline over 3 years | -35.14% | -92.51% | +57.37% |
Max Drawdown (5Y)Largest decline over 5 years | -37.79% | -97.27% | +59.48% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | -99.97% | +28.04% |
Current DrawdownCurrent decline from peak | -95.07% | -100.00% | +4.93% |
Average DrawdownAverage peak-to-trough decline | -72.31% | -92.78% | +20.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.38% | 35.08% | -24.70% |
Volatility
MYY vs. SQQQ - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 3.36%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 20.82%. 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 | 3.36% | 20.82% | -17.46% |
Volatility (6M)Calculated over the trailing 6-month period | 11.59% | 48.09% | -36.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.70% | 57.98% | -42.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.53% | 68.18% | -48.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 66.74% | -45.53% |
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 4.28%, less than SQQQ's 9.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.28% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 9.14% | 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 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (20.82%) compared to MYY (3.36%). In terms of maximum drawdown, MYY dropped -95.20% vs SQQQ's -100.00%.
On 10-year performance, MYY leads with -10.81% vs -54.48% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 3.36%. 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 -10.81% return vs -54.48%. 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 9.14%, compared with 4.28% 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%).
SQQQ currently has the higher Sharpe Ratio (-0.86 vs -0.90), 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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