PAWZ vs. TQQQ

Last updated Jul 28, 2026

PAWZ (ProShares Pet Care ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - PAWZ is a Global Equities fund tracking the FactSet Pet Care Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, PAWZ returned -9.39%/yr vs 14.69%/yr for TQQQ. Their 0.64 correlation means they have sometimes moved together and sometimes differently. PAWZ charges 0.50%/yr vs 0.95%/yr for TQQQ.

Performance

PAWZ vs. TQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, PAWZ achieves a -8.33% return, which is significantly lower than TQQQ's 20.73% return.

PAWZ

• 1D: 2.03%
• 1M: 3.85%
• 6M: -10.65%
• YTD: -8.33%
• 1Y: -12.73%
• 3Y*: -0.92%
• 5Y*: -9.39%
• 10Y*: —
• ALL TIME*: 3.51%

TQQQ

• 1D: -0.94%
• 1M: -11.74%
• 6M: 15.56%
• YTD: 20.73%
• 1Y: 43.52%
• 3Y*: 42.62%
• 5Y*: 14.69%
• 10Y*: 39.10%
• ALL TIME*: 42.20%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PAWZ ProShares Pet Care ETF	$91.97K	$88.04K	$268.83K
TQQQ ProShares UltraPro QQQ	$4.21B	$4.54B	$5.31B

PAWZ vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PAWZ ProShares Pet Care ETF	-8.33%	1.21%	3.88%	12.47%	-40.08%	10.46%	61.69%	22.95%	-8.52%
TQQQ ProShares UltraPro QQQ	20.73%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-28.04%

Correlation

The correlation between PAWZ and TQQQ is 0.27, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.27
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018	0.64

Over the past year, the correlation between PAWZ and TQQQ has dropped to 0.27 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

PAWZ vs. TQQQ - Sectors Allocation Comparison

Sectors	PAWZ	TQQQ
Healthcare	26.8%	4.2%
Consumer Cyclical	18.0%	12.3%
Consumer Defensive	16.9%	7.7%
Technology	4.5%	53.8%
Financial Services	4.5%	0.2%
Basic Materials	4.0%	1.1%
Communication Services	-	15.8%
Energy	-	0.6%
Industrials	-	2.8%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

PAWZ vs. TQQQ — Risk / Return Rank

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

PAWZ

PAWZ Risk / Return Rank: 4
PAWZ Sharpe Ratio Rank: 4
PAWZ Sortino Ratio Rank: 4
PAWZ Omega Ratio Rank: 4
PAWZ Calmar Ratio Rank: 5
PAWZ Martin Ratio Rank: 3

TQQQ

TQQQ Risk / Return Rank: 34
TQQQ Sharpe Ratio Rank: 31
TQQQ Sortino Ratio Rank: 35
TQQQ Omega Ratio Rank: 34
TQQQ Calmar Ratio Rank: 34
TQQQ Martin Ratio Rank: 34

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. TQQQ - Risk-Adjusted Trends Comparison

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

	PAWZ	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.75	0.78	-1.52
Sortino ratio: Return per unit of downside risk	-0.98	1.31	-2.30
Omega ratio: Gain probability vs. loss probability	0.89	1.16	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.61	1.18	-1.79
Martin ratio: Return relative to average drawdown	-1.23	3.43	-4.65

PAWZ vs. TQQQ - Sharpe Ratio Comparison

The current PAWZ Sharpe Ratio is -0.75, which is lower than the TQQQ Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of PAWZ and TQQQ, 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

PAWZ vs. TQQQ - Drawdown Comparison

The maximum PAWZ drawdown since its inception was -50.07%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for PAWZ and TQQQ.

Drawdown Indicators

	PAWZ	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-50.07%	-81.66%	+31.59%
Max Drawdown (1Y) Largest decline over 1 year	-21.10%	-36.97%	+15.87%
Max Drawdown (3Y) Largest decline over 3 years	-23.12%	-58.04%	+34.92%
Max Drawdown (5Y) Largest decline over 5 years	-50.07%	-81.66%	+31.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-39.02%	-27.14%	-11.88%
Average Drawdown Average peak-to-trough decline	-22.89%	-18.48%	-4.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.41%	12.73%	-2.32%

Volatility

PAWZ vs. TQQQ - Volatility Comparison

The current volatility for ProShares Pet Care ETF (PAWZ) is 5.44%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 19.82%. This indicates that PAWZ 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.

Volatility by Period

	PAWZ	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	19.82%	-14.38%
Volatility (6M) Calculated over the trailing 6-month period	12.96%	46.44%	-33.48%
Volatility (1Y) Calculated over the trailing 1-year period	17.17%	56.48%	-39.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.35%	67.86%	-47.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.63%	66.49%	-44.86%

PAWZ vs. TQQQ - Expense Ratio Comparison

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

Dividends

PAWZ vs. TQQQ - Dividend Comparison

PAWZ's dividend yield for the trailing twelve months is around 0.70%, more than TQQQ's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAWZ ProShares Pet Care ETF	0.70%	0.81%	0.63%	0.44%	0.54%	0.18%	0.14%	0.35%	0.07%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.60%	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

Can I hold both PAWZ and TQQQ in my portfolio?

PAWZ and TQQQ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAWZ or TQQQ?

TQQQ has higher volatility (19.82%) compared to PAWZ (5.44%). In terms of maximum drawdown, PAWZ dropped -50.07% vs TQQQ's -81.66%.

Which ETF is better, PAWZ or TQQQ?

On 5-year performance, TQQQ leads with 14.69% vs -9.39% for PAWZ. On fees, PAWZ is cheaper at 0.50% per year. On volatility, PAWZ has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PAWZ or TQQQ?

Over the 5-year period, TQQQ has performed better with a 14.69% return vs -9.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PAWZ or TQQQ?

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

Which ETF pays a higher dividend yield, PAWZ or TQQQ?

PAWZ has the higher dividend yield at 0.70%, compared with 0.60% for TQQQ.

What is the main difference between PAWZ and TQQQ?

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

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (0.78 vs -0.75), 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.