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 -10.81%/yr vs 39.46%/yr for TQQQ. Their -0.73 correlation means they have often moved in opposite directions in the past. 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 -10.96% return, which is significantly lower than TQQQ's 23.06% return. Over the past 10 years, MYY has underperformed TQQQ with an annualized return of -10.81%, while TQQQ has yielded a comparatively higher 39.46% 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%
TQQQ
- 1D
- 2.09%
- 1M
- -11.90%
- 6M
- 20.14%
- YTD
- 23.06%
- 1Y
- 56.87%
- 3Y*
- 43.81%
- 5Y*
- 15.36%
- 10Y*
- 39.46%
- ALL TIME*
- 42.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $319.02K | $183.72K | $161.47K | |
| $4.37B | $4.57B | $5.33B |
MYY vs. TQQQ - 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% |
TQQQ ProShares UltraPro QQQ | 23.06% | 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 -0.66, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| 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 TQQQ has been stable across timeframes, ranging from -0.73 to -0.65 - 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 | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.17 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.29 | -2.06 |
| Martin ratioReturn relative to average drawdown | -1.35 | 3.60 | -4.94 |
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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% | -25.74% | -69.33% |
Average DrawdownAverage peak-to-trough decline | -72.31% | -18.49% | -53.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.38% | 13.24% | -2.86% |
Volatility
MYY vs. TQQQ - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 3.36%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 20.41%. 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 | 3.36% | 20.41% | -17.05% |
Volatility (6M)Calculated over the trailing 6-month period | 11.59% | 47.79% | -36.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.70% | 57.62% | -41.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.53% | 68.04% | -48.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 66.57% | -45.36% |
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 4.28%, more than TQQQ's 0.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.58% | 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 -0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (20.41%) compared to MYY (3.36%). In terms of maximum drawdown, MYY dropped -95.20% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 39.46% vs -10.81% for MYY. 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, TQQQ has performed better with a 39.46% return vs -10.81%. 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 4.28%, compared with 0.58% 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 (0.83 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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