PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
PAWZ vs. SQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PAWZ vs. SQQQ

Last updated Jun 17, 2026

PAWZ (ProShares Pet Care ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - PAWZ is a Global Equities fund tracking the FactSet Pet Care Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 5 years, PAWZ returned -9.14%/yr vs -47.94%/yr for SQQQ. At a correlation of -0.66, they often move in opposite directions. PAWZ charges 0.50%/yr vs 0.95%/yr for SQQQ.

Performance

PAWZ vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Pet Care ETF (PAWZ) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PAWZ achieves a -11.47% return, which is significantly higher than SQQQ's -43.56% return.

PAWZ

1D
-0.01%
1M
4.84%
YTD
-11.47%
6M
-11.85%
1Y
-15.91%
3Y*
-1.31%
5Y*
-9.14%
10Y*
—

SQQQ

1D
5.62%
1M
-10.77%
YTD
-43.56%
6M
-44.43%
1Y
-62.73%
3Y*
-54.10%
5Y*
-47.94%
10Y*
-56.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PAWZ vs. SQQQ - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
PAWZ
ProShares Pet Care ETF		-11.47%1.21%3.88%12.47%-40.08%10.46%61.69%22.95%-8.52%
SQQQ
ProShares UltraPro Short QQQ		-43.56%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%20.12%

Correlation

The correlation between PAWZ and SQQQ is -0.36, 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

-0.36

Correlation (3Y)
Calculated over the trailing 3-year period

-0.46

Correlation (5Y)
Calculated over the trailing 5-year period

-0.63

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2018

-0.66

Over the past year, the inverse relationship between PAWZ and SQQQ has weakened: their correlation has moved from -0.66 to -0.36, meaning they move in opposite directions less often than they have historically.

PAWZ vs. SQQQ - Sectors Allocation Comparison

Sectors
PAWZ
SQQQ

Healthcare

32.6%

-

Consumer Defensive

16.3%

-

Consumer Cyclical

12.5%

-

Basic Materials

5.0%

-

Technology

4.2%

-

Financial Services

4.1%
99.9%

Communication Services

-

-

Energy

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Healthcare

PAWZ
32.6%
SQQQ

-

Consumer Defensive

PAWZ
16.3%
SQQQ

-

Consumer Cyclical

PAWZ
12.5%
SQQQ

-

Basic Materials

PAWZ
5.0%
SQQQ

-

Technology

PAWZ
4.2%
SQQQ

-

Financial Services

PAWZ
4.1%
SQQQ
99.9%

Communication Services

PAWZ

-

SQQQ

-

Energy

PAWZ

-

SQQQ

-

Industrials

PAWZ

-

SQQQ

-

Real Estate

PAWZ

-

SQQQ

-

Utilities

PAWZ

-

SQQQ

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Pet Care ETF

ProShares UltraPro Short QQQ

Often compared with PAWZ:
PAWZ vs. ZTSPAWZ vs. IBUYPAWZ vs. SPYPAWZ vs. VOOPAWZ vs. BDVLPAWZ vs. FIXTPAWZ vs. SCHD
Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. QIDSQQQ vs. SPXUSQQQ vs. UVXY

Return for Risk

PAWZ vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PAWZ
PAWZ Risk / Return Rank: 22
Overall Rank
PAWZ Sharpe Ratio Rank: 22
Sharpe Ratio Rank
PAWZ Sortino Ratio Rank: 22
Sortino Ratio Rank
PAWZ Omega Ratio Rank: 22
Omega Ratio Rank
PAWZ Calmar Ratio Rank: 33
Calmar Ratio Rank
PAWZ Martin Ratio Rank: 00
Martin Ratio Rank
SQQQ
SQQQ Risk / Return Rank: 11
Overall Rank
SQQQ Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 00
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 00
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 11
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 00
Martin Ratio Rank
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.

PAWZ vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Pet Care ETF (PAWZ) and ProShares UltraPro Short QQQ (SQQQ). 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.

PAWZSQQQDifference
Sharpe ratioReturn per unit of total volatility
-0.97
-1.20

+0.24

Sortino ratioReturn per unit of downside risk
-1.34
-2.23

+0.89

Omega ratioGain probability vs. loss probability

0.85

0.76

+0.09

Calmar ratioReturn relative to maximum drawdown

-0.75

-0.95

+0.20

Martin ratioReturn relative to average drawdown

-1.77

-1.68

-0.09

PAWZ vs. SQQQ - Sharpe Ratio Comparison

The current PAWZ Sharpe Ratio is -0.97, which is comparable to the SQQQ Sharpe Ratio of -1.20. The chart below compares the historical Sharpe Ratios of PAWZ and SQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

PAWZ vs. SQQQ - Drawdown Comparison

The maximum PAWZ drawdown since its inception was -50.07%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for PAWZ and SQQQ.

Loading charts...

Drawdown Indicators

PAWZSQQQDifference

Max Drawdown

Largest peak-to-trough decline

-50.07%

-100.00%

+49.93%

Max Drawdown (1Y)

Largest decline over 1 year

-21.26%

-66.27%

+45.01%

Max Drawdown (3Y)

Largest decline over 3 years

-23.12%

-92.51%

+69.39%

Max Drawdown (5Y)

Largest decline over 5 years

-50.07%

-97.27%

+47.20%

Max Drawdown (10Y)

Largest decline over 10 years

—

-99.98%

—

Current Drawdown

Current decline from peak

-41.10%

-100.00%

+58.90%

Average Drawdown

Average peak-to-trough decline

-22.64%

-92.72%

+70.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.99%

37.24%

-28.25%

Volatility

PAWZ vs. SQQQ - Volatility Comparison

The current volatility for ProShares Pet Care ETF (PAWZ) is 3.76%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 24.11%. This indicates that PAWZ experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

PAWZSQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.76%

24.11%

-20.35%

Volatility (6M)

Calculated over the trailing 6-month period

11.44%

42.13%

-30.69%

Volatility (1Y)

Calculated over the trailing 1-year period

16.53%

52.41%

-35.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.19%

67.32%

-47.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.64%

66.47%

-44.83%

PAWZ vs. SQQQ - Expense Ratio Comparison

PAWZ has a 0.50% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

PAWZ vs. SQQQ - Dividend Comparison

PAWZ's dividend yield for the trailing twelve months is around 0.86%, less than SQQQ's 12.10% yield.

PositionTTM202520242023202220212020201920182017
PAWZ
ProShares Pet Care ETF		0.86%0.81%0.63%0.44%0.54%0.18%0.14%0.35%0.07%0.00%
SQQQ
ProShares UltraPro Short QQQ		12.10%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%

Frequently Asked Questions

PAWZ and SQQQ have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SQQQ has higher volatility (24.11%) compared to PAWZ (3.76%). In terms of maximum drawdown, PAWZ dropped -50.07% vs SQQQ's -100.00%.

On 5-year performance, PAWZ leads with -9.14% vs -47.94% for SQQQ. On fees, PAWZ is cheaper at 0.50% per year. On volatility, PAWZ has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, PAWZ has performed better with a -9.14% return vs -47.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PAWZ is cheaper with a 0.50% expense ratio, compared with 0.95% for SQQQ.

SQQQ has the higher dividend yield at 12.10%, compared with 0.86% for PAWZ.

PAWZ is categorized as Global Equities, while SQQQ is Leveraged Equities. PAWZ tracks FactSet Pet Care Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.50% for PAWZ and 0.95% for SQQQ.

PAWZ currently has the higher Sharpe Ratio (-0.97 vs -1.20), 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.

Portfolio Optimizer

Find the right allocation for PAWZ and SQQQ

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer