OOQB vs. QLD
OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - OOQB is a Nasdaq-100 fund actively managed by Volatility Shares, while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). OOQB is actively managed, while QLD is passively managed. Over the past year, OOQB returned -27.35% vs 85.49% for QLD. A 0.67 correlation means they provide meaningful diversification when combined. OOQB charges 0.75%/yr vs 0.95%/yr for QLD.
Performance
OOQB vs. QLD - Performance Comparison
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Returns By Period
In the year-to-date period, OOQB achieves a -18.43% return, which is significantly lower than QLD's 42.06% return.
OOQB
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -18.43%
- 6M
- -24.99%
- 1Y
- -27.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLD
- 1D
- -0.53%
- 1M
- 21.54%
- YTD
- 42.06%
- 6M
- 37.45%
- 1Y
- 85.49%
- 3Y*
- 50.15%
- 5Y*
- 25.75%
- 10Y*
- 36.10%
OOQB vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | -18.43% | -13.30% |
QLD ProShares Ultra QQQ | 42.06% | 18.45% |
Correlation
The correlation between OOQB and QLD is 0.61, 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 | 0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.67 |
The correlation between OOQB and QLD has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
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Return for Risk
OOQB vs. QLD — Risk / Return Rank
OOQB
QLD
OOQB vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) and ProShares Ultra QQQ (QLD). 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.
| OOQB | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.23 | ||
| Sortino ratioReturn per unit of downside risk | -3.66 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.41 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 3.42 | -3.93 |
| Martin ratioReturn relative to average drawdown | -0.91 | 11.92 | -12.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OOQB | QLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.53 | 2.70 | -3.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.81 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | 0.60 | -1.00 |
Drawdowns
OOQB vs. QLD - Drawdown Comparison
The maximum OOQB drawdown since its inception was -53.44%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for OOQB and QLD.
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Drawdown Indicators
| OOQB | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.44% | -83.13% | +29.69% |
Max Drawdown (1Y)Largest decline over 1 year | -53.44% | -25.13% | -28.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.29% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.68% | — |
Current DrawdownCurrent decline from peak | -43.69% | -0.53% | -43.16% |
Average DrawdownAverage peak-to-trough decline | -23.26% | -18.17% | -5.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.11% | 7.20% | +22.91% |
Volatility
OOQB vs. QLD - Volatility Comparison
The current volatility for Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) is 0.00%, while ProShares Ultra QQQ (QLD) has a volatility of 8.90%. This indicates that OOQB experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OOQB | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 8.90% | -8.90% |
Volatility (6M)Calculated over the trailing 6-month period | 39.39% | 24.08% | +15.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.57% | 31.85% | +19.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.12% | 44.74% | +13.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.12% | 44.56% | +13.56% |
OOQB vs. QLD - Expense Ratio Comparison
OOQB has a 0.75% expense ratio, which is lower than QLD's 0.95% expense ratio.
Dividends
OOQB vs. QLD - Dividend Comparison
OOQB's dividend yield for the trailing twelve months is around 11.62%, more than QLD's 0.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | 11.62% | 9.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.12% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Frequently Asked Questions
OOQB and QLD have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (8.90%) compared to OOQB (0.00%). In terms of maximum drawdown, OOQB dropped -53.44% vs QLD's -83.13%.
On 1-year performance, QLD leads with 85.49% vs -27.35% for OOQB. On fees, OOQB is cheaper at 0.75% per year. On volatility, OOQB has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QLD has performed better with a 85.49% return vs -27.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OOQB is cheaper with a 0.75% expense ratio, compared with 0.95% for QLD.
OOQB has the higher dividend yield at 11.62%, compared with 0.12% for QLD.
OOQB is categorized as Nasdaq-100, while QLD is Leveraged Equities. They also come from different issuers: Volatility Shares and ProShares. Their fees differ too: 0.75% for OOQB and 0.95% for QLD.
QLD currently has the higher Sharpe Ratio (2.70 vs -0.53), 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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