ONLN vs. IQQQ

Last updated Jun 26, 2026

ONLN (ProShares Online Retail ETF) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - ONLN is a Consumer Discretionary Equities fund tracking the ProShares Online Retail Index, while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, ONLN returned 7.72% vs 29.47% for IQQQ. A 0.66 correlation means they provide meaningful diversification when combined. ONLN charges 0.58%/yr vs 0.55%/yr for IQQQ.

Performance

ONLN vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Online Retail ETF (ONLN) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONLN achieves a -9.60% return, which is significantly lower than IQQQ's 13.95% return.

ONLN

• 1D: -2.82%
• 1M: -7.29%
• YTD: -9.60%
• 6M: -10.29%
• 1Y: 7.72%
• 3Y*: 19.74%
• 5Y*: -7.93%
• 10Y*: —

IQQQ

• 1D: 0.87%
• 1M: -2.10%
• YTD: 13.95%
• 6M: 12.28%
• 1Y: 29.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ONLN vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ONLN ProShares Online Retail ETF	-9.60%	33.03%	16.66%
IQQQ ProShares Nasdaq-100 High Income ETF	13.95%	17.11%	14.82%

Correlation

The correlation between ONLN and IQQQ is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.66

The correlation between ONLN and IQQQ has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.

Return for Risk

ONLN vs. IQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ONLN

ONLN Risk / Return Rank: 13
ONLN Sharpe Ratio Rank: 13
ONLN Sortino Ratio Rank: 13
ONLN Omega Ratio Rank: 13
ONLN Calmar Ratio Rank: 13
ONLN Martin Ratio Rank: 13

IQQQ

IQQQ Risk / Return Rank: 58
IQQQ Sharpe Ratio Rank: 61
IQQQ Sortino Ratio Rank: 54
IQQQ Omega Ratio Rank: 56
IQQQ Calmar Ratio Rank: 62
IQQQ Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ONLN vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Online Retail ETF (ONLN) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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.

	ONLN	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.32	1.74	-1.43
Sortino ratio: Return per unit of downside risk	0.60	2.28	-1.69
Omega ratio: Gain probability vs. loss probability	1.07	1.30	-0.23
Calmar ratio: Return relative to maximum drawdown	0.39	2.66	-2.27
Martin ratio: Return relative to average drawdown	0.92	9.05	-8.13

ONLN vs. IQQQ - Sharpe Ratio Comparison

The current ONLN Sharpe Ratio is 0.32, which is lower than the IQQQ Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of ONLN and IQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ONLN vs. IQQQ - Drawdown Comparison

The maximum ONLN drawdown since its inception was -71.77%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for ONLN and IQQQ.

Drawdown Indicators

	ONLN	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-71.77%	-20.41%	-51.36%
Max Drawdown (1Y) Largest decline over 1 year	-19.75%	-11.13%	-8.62%
Max Drawdown (3Y) Largest decline over 3 years	-27.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-69.19%	—	—
Current Drawdown Current decline from peak	-41.46%	-4.31%	-37.15%
Average Drawdown Average peak-to-trough decline	-35.45%	-3.63%	-31.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.45%	3.27%	+5.18%

Volatility

ONLN vs. IQQQ - Volatility Comparison

ProShares Online Retail ETF (ONLN) and ProShares Nasdaq-100 High Income ETF (IQQQ) have volatilities of 8.13% and 8.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONLN	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	8.20%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	18.59%	13.57%	+5.02%
Volatility (1Y) Calculated over the trailing 1-year period	24.53%	17.00%	+7.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.18%	19.06%	+14.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.08%	19.06%	+13.02%

ONLN vs. IQQQ - Expense Ratio Comparison

ONLN has a 0.58% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

ONLN vs. IQQQ - Dividend Comparison

ONLN's dividend yield for the trailing twelve months is around 0.31%, less than IQQQ's 4.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
IQQQ ProShares Nasdaq-100 High Income ETF	4.61%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%
ONLN ProShares Online Retail ETF	0.31%	0.30%	0.75%	0.00%	0.00%	0.00%	1.24%

Frequently Asked Questions

Can I hold both ONLN and IQQQ in my portfolio?

ONLN and IQQQ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONLN or IQQQ?

IQQQ has higher volatility (8.20%) compared to ONLN (8.13%). In terms of maximum drawdown, ONLN dropped -71.77% vs IQQQ's -20.41%.

Which ETF is better, ONLN or IQQQ?

On 1-year performance, IQQQ leads with 29.47% vs 7.72% for ONLN. On fees, IQQQ is cheaper at 0.55% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONLN or IQQQ?

Over the 1-year period, IQQQ has performed better with a 29.47% return vs 7.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONLN or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.58% for ONLN.

Which ETF pays a higher dividend yield, ONLN or IQQQ?

IQQQ has the higher dividend yield at 4.61%, compared with 0.31% for ONLN.

What is the main difference between ONLN and IQQQ?

ONLN is categorized as Consumer Discretionary Equities, while IQQQ is Nasdaq-100. ONLN tracks ProShares Online Retail Index, while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.58% for ONLN and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.74 vs 0.32), 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.