MYY vs. TQQQ
MYY (ProShares Short S&P Mid Cap400) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while TQQQ 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 45.48%/yr for TQQQ. At a correlation of -0.73, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
MYY vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.47% return, which is significantly lower than TQQQ's 41.43% return. Over the past 10 years, MYY has underperformed TQQQ with an annualized return of -11.38%, while TQQQ has yielded a comparatively higher 45.48% 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%
TQQQ
- 1D
- -9.86%
- 1M
- -4.37%
- YTD
- 41.43%
- 6M
- 35.75%
- 1Y
- 100.69%
- 3Y*
- 58.02%
- 5Y*
- 21.47%
- 10Y*
- 45.48%
MYY vs. TQQQ - 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% |
TQQQ ProShares UltraPro QQQ | 41.43% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between MYY and TQQQ is -0.63, 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 | -0.63 |
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 TQQQ shifts across timeframes, from -0.73 (all time) to -0.63 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MYY vs. TQQQ — Risk / Return Rank
MYY
TQQQ
MYY vs. TQQQ - 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 QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -3.70 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.30 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.74 | -3.70 |
| Martin ratioReturn relative to average drawdown | -1.82 | 8.72 | -10.54 |
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Drawdowns
MYY vs. TQQQ - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.14%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for MYY and TQQQ.
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Drawdown Indicators
| MYY | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.14% | -81.66% | -13.48% |
Max Drawdown (1Y)Largest decline over 1 year | -17.48% | -36.97% | +19.49% |
Max Drawdown (3Y)Largest decline over 3 years | -34.39% | -58.04% | +23.65% |
Max Drawdown (5Y)Largest decline over 5 years | -37.07% | -81.66% | +44.59% |
Max Drawdown (10Y)Largest decline over 10 years | -71.61% | -81.66% | +10.05% |
Current DrawdownCurrent decline from peak | -95.09% | -14.65% | -80.44% |
Average DrawdownAverage peak-to-trough decline | -72.19% | -18.49% | -53.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.25% | 11.59% | -2.34% |
Volatility
MYY vs. TQQQ - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.50%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 27.27%. This indicates that MYY experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYY | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.50% | 27.27% | -22.77% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 43.35% | -31.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.86% | 53.39% | -37.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.63% | 67.41% | -47.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.24% | 66.32% | -45.08% |
MYY vs. TQQQ - Expense Ratio Comparison
Both MYY and TQQQ have an expense ratio of 0.95%.
Dividends
MYY vs. TQQQ - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.47%, more than TQQQ's 0.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.42% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
MYY and TQQQ 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.
TQQQ has higher volatility (27.27%) compared to MYY (4.50%). In terms of maximum drawdown, MYY dropped -95.14% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 45.48% vs -11.38% for MYY. 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, TQQQ has performed better with a 45.48% return vs -11.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MYY and TQQQ have the same expense ratio: 0.95% per year.
MYY has the higher dividend yield at 4.47%, compared with 0.42% for TQQQ.
MYY is categorized as Inverse Equities, while TQQQ is Leveraged Equities. MYY tracks S&P Mid Cap 400 (-100%), while TQQQ tracks NASDAQ-100 Index (300%).
TQQQ currently has the higher Sharpe Ratio (1.90 vs -1.06), 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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