NQSE.DE vs. UST
NQSE.DE (iShares NASDAQ 100 UCITS ETF) and UST (ProShares Ultra 7-10 Year Treasury) are both exchange-traded funds - NQSE.DE is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%). Both are passively managed. Over the past 5 years, NQSE.DE returned 14.04%/yr vs -6.11%/yr for UST. At a correlation of -0.10, they often move in opposite directions. NQSE.DE charges 0.33%/yr vs 0.95%/yr for UST.
Performance
NQSE.DE vs. UST - Performance Comparison
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Different Trading Currencies
NQSE.DE is traded in EUR, while UST is traded in USD. To make them comparable, the UST values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, NQSE.DE achieves a 15.12% return, which is significantly higher than UST's -1.16% return.
NQSE.DE
- 1D
- 3.16%
- 1M
- 0.12%
- YTD
- 15.12%
- 6M
- 16.84%
- 1Y
- 33.33%
- 3Y*
- 23.70%
- 5Y*
- 14.04%
- 10Y*
- —
UST
- 1D
- -0.34%
- 1M
- 0.98%
- YTD
- -1.16%
- 6M
- -0.93%
- 1Y
- 3.09%
- 3Y*
- -2.04%
- 5Y*
- -6.11%
- 10Y*
- -2.56%
NQSE.DE vs. UST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NQSE.DE iShares NASDAQ 100 UCITS ETF | 15.12% | 18.19% | 24.02% | 52.15% | -36.27% | 27.38% | 45.18% | 35.63% | -15.97% |
UST ProShares Ultra 7-10 Year Treasury | -1.16% | -2.83% | -0.00% | -2.85% | -25.86% | -0.92% | 9.04% | 15.91% | 5.90% |
Correlation
The correlation between NQSE.DE and UST is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018 | -0.10 |
The correlation between NQSE.DE and UST shifts across timeframes, from -0.10 (all time) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NQSE.DE vs. UST — Risk / Return Rank
NQSE.DE
UST
NQSE.DE vs. UST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF (NQSE.DE) and ProShares Ultra 7-10 Year Treasury (UST). 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.
| NQSE.DE | UST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.06 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 0.35 | +2.38 |
| Martin ratioReturn relative to average drawdown | 9.34 | 0.86 | +8.48 |
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Drawdowns
NQSE.DE vs. UST - Drawdown Comparison
The maximum NQSE.DE drawdown since its inception was -37.62%, smaller than the maximum UST drawdown of -45.84%. Use the drawdown chart below to compare losses from any high point for NQSE.DE and UST.
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Drawdown Indicators
| NQSE.DE | UST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.62% | -45.84% | +8.22% |
Max Drawdown (1Y)Largest decline over 1 year | -11.88% | -7.55% | -4.33% |
Max Drawdown (3Y)Largest decline over 3 years | -22.41% | -14.09% | -8.32% |
Max Drawdown (5Y)Largest decline over 5 years | -37.62% | -38.50% | +0.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.84% | — |
Current DrawdownCurrent decline from peak | -3.08% | -41.12% | +38.04% |
Average DrawdownAverage peak-to-trough decline | -8.55% | -17.74% | +9.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 3.09% | +0.40% |
Volatility
NQSE.DE vs. UST - Volatility Comparison
iShares NASDAQ 100 UCITS ETF (NQSE.DE) has a higher volatility of 6.10% compared to ProShares Ultra 7-10 Year Treasury (UST) at 2.36%. This indicates that NQSE.DE's price experiences larger fluctuations and is considered to be riskier than UST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NQSE.DE | UST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | 2.36% | +3.74% |
Volatility (6M)Calculated over the trailing 6-month period | 12.93% | 6.79% | +6.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.74% | 8.89% | +7.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.02% | 15.22% | +5.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.60% | 13.59% | +8.01% |
NQSE.DE vs. UST - Expense Ratio Comparison
NQSE.DE has a 0.33% expense ratio, which is lower than UST's 0.95% expense ratio.
Dividends
NQSE.DE vs. UST - Dividend Comparison
NQSE.DE has not paid dividends to shareholders, while UST's dividend yield for the trailing twelve months is around 3.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NQSE.DE iShares NASDAQ 100 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UST ProShares Ultra 7-10 Year Treasury | 3.48% | 3.65% | 4.09% | 3.49% | 0.47% | 0.27% | 0.53% | 1.42% | 1.71% | 0.84% | 0.64% | 0.75% |
Frequently Asked Questions
NQSE.DE and UST have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NQSE.DE is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NQSE.DE is cheaper with a 0.33% expense ratio, compared with 0.95% for UST.
NQSE.DE is categorized as Nasdaq-100, while UST is Leveraged Bonds. NQSE.DE tracks NASDAQ-100 Index, while UST tracks Barclays Capital U.S. 7-10 Year Treasury Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.33% for NQSE.DE and 0.95% for UST.
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