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 -10.79%/yr vs 42.27%/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 -11.03% return, which is significantly lower than TQQQ's 38.33% return. Over the past 10 years, MYY has underperformed TQQQ with an annualized return of -10.79%, while TQQQ has yielded a comparatively higher 42.27% annualized return.
MYY
- 1D
- 0.53%
- 1M
- 1.24%
- 6M
- -6.84%
- YTD
- -11.03%
- 1Y
- -13.14%
- 3Y*
- -8.04%
- 5Y*
- -6.30%
- 10Y*
- -10.79%
TQQQ
- 1D
- -5.70%
- 1M
- -6.08%
- 6M
- 30.48%
- YTD
- 38.33%
- 1Y
- 74.65%
- 3Y*
- 50.58%
- 5Y*
- 18.33%
- 10Y*
- 42.27%
MYY vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.03% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
TQQQ ProShares UltraPro QQQ | 38.33% | 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 -0.64, 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 Feb 11, 2010 | -0.73 |
The correlation between MYY and TQQQ has been stable across timeframes, ranging from -0.73 to -0.64 - a consistent structural relationship.
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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 | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.24 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 2.03 | -2.75 |
| Martin ratioReturn relative to average drawdown | -1.36 | 6.23 | -7.60 |
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Drawdowns
MYY vs. TQQQ - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.20%, 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 | -95.20% | -81.66% | -13.54% |
Max Drawdown (1Y)Largest decline over 1 year | -18.25% | -36.97% | +18.72% |
Max Drawdown (3Y)Largest decline over 3 years | -35.14% | -58.04% | +22.90% |
Max Drawdown (5Y)Largest decline over 5 years | -37.79% | -81.66% | +43.87% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | -81.66% | +9.73% |
Current DrawdownCurrent decline from peak | -95.07% | -16.52% | -78.55% |
Average DrawdownAverage peak-to-trough decline | -72.25% | -18.48% | -53.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.65% | 12.02% | -2.37% |
Volatility
MYY vs. TQQQ - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.22%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 25.43%. 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 | 4.22% | 25.43% | -21.21% |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | 45.80% | -34.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.83% | 55.32% | -39.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.60% | 67.74% | -48.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 66.40% | -45.19% |
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 4.29%, more than TQQQ's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.29% | 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 | 0.52% | 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 -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (25.43%) compared to MYY (4.22%). In terms of maximum drawdown, MYY dropped -95.20% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 42.27% vs -10.79% for MYY. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 4.22%. 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 42.27% return vs -10.79%. 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 4.29%, compared with 0.52% 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 (1.36 vs -0.83), 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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