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PME.AX vs. TQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PME.AX vs. TQQQ

Last updated Jun 4, 2026

PME.AX (Pro Medicus Limited) is a stock, while TQQQ (ProShares UltraPro QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Over the past 10 years, PME.AX returned 42.79%/yr vs 45.81%/yr for TQQQ. At a 0.04 correlation, their price movements are largely independent.

Performance

PME.AX vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Pro Medicus Limited (PME.AX) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

PME.AX is traded in AUD, while TQQQ is traded in USD. To make them comparable, the TQQQ values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PME.AX achieves a -27.53% return, which is significantly lower than TQQQ's 53.94% return. Over the past 10 years, PME.AX has underperformed TQQQ with an annualized return of 42.79%, while TQQQ has yielded a comparatively higher 45.81% annualized return.

PME.AX

1D
-0.28%
1M
15.12%
YTD
-27.53%
6M
-37.06%
1Y
-43.29%
3Y*
37.42%
5Y*
27.28%
10Y*
42.79%

TQQQ

1D
-0.30%
1M
34.07%
YTD
53.94%
6M
44.39%
1Y
115.75%
3Y*
65.24%
5Y*
30.51%
10Y*
45.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PME.AX vs. TQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PME.AX
Pro Medicus Limited		-27.53%-11.52%161.84%74.19%-11.11%83.31%53.66%106.06%25.55%83.18%
TQQQ
ProShares UltraPro QQQ		53.94%24.60%74.19%198.27%-77.71%93.71%91.61%134.92%-11.19%101.45%

Correlation

The correlation between PME.AX and TQQQ is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.10

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

0.09

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

0.10

Correlation (10Y)
Calculated over the trailing 10-year period

0.04

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2010

0.04

Compare stocks, funds, or ETFs

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Pro Medicus Limited

ProShares UltraPro QQQ

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Often compared with TQQQ:
TQQQ vs. QQQTQQQ vs. SOXLTQQQ vs. QLDTQQQ vs. SQQQTQQQ vs. SPXLTQQQ vs. UPROTQQQ vs. TECL

Return for Risk

PME.AX vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PME.AX
PME.AX Risk / Return Rank: 1212
Overall Rank
PME.AX Sharpe Ratio Rank: 88
Sharpe Ratio Rank
PME.AX Sortino Ratio Rank: 99
Sortino Ratio Rank
PME.AX Omega Ratio Rank: 99
Omega Ratio Rank
PME.AX Calmar Ratio Rank: 1717
Calmar Ratio Rank
PME.AX Martin Ratio Rank: 1717
Martin Ratio Rank
TQQQ
TQQQ Risk / Return Rank: 7171
Overall Rank
TQQQ Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
TQQQ Sortino Ratio Rank: 6565
Sortino Ratio Rank
TQQQ Omega Ratio Rank: 6565
Omega Ratio Rank
TQQQ Calmar Ratio Rank: 7373
Calmar Ratio Rank
TQQQ Martin Ratio Rank: 6666
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.

PME.AX vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pro Medicus Limited (PME.AX) 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.

PME.AXTQQQDifference
Sharpe ratioReturn per unit of total volatility
-0.84
2.65

-3.50

Sortino ratioReturn per unit of downside risk
-1.13
2.93

-4.06

Omega ratioGain probability vs. loss probability

0.85

1.39

-0.54

Calmar ratioReturn relative to maximum drawdown

-0.64

2.95

-3.59

Martin ratioReturn relative to average drawdown

-1.12

8.62

-9.74

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PME.AX vs. TQQQ - Sharpe Ratio Comparison

The current PME.AX Sharpe Ratio is -0.84, which is lower than the TQQQ Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of PME.AX 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.

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Sharpe Ratios by Period

PME.AXTQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.84

2.65

-3.50

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.49

+0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.98

0.73

+0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.82

-0.35

Drawdowns

PME.AX vs. TQQQ - Drawdown Comparison

The maximum PME.AX drawdown since its inception was -88.06%, which is greater than TQQQ's maximum drawdown of -80.30%. Use the drawdown chart below to compare losses from any high point for PME.AX and TQQQ.

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Drawdown Indicators

PME.AXTQQQDifference

Max Drawdown

Largest peak-to-trough decline

-88.06%

-80.30%

-7.76%

Max Drawdown (1Y)

Largest decline over 1 year

-67.24%

-39.51%

-27.73%

Max Drawdown (3Y)

Largest decline over 3 years

-67.24%

-55.15%

-12.09%

Max Drawdown (5Y)

Largest decline over 5 years

-67.24%

-80.30%

+13.06%

Max Drawdown (10Y)

Largest decline over 10 years

-67.24%

-80.30%

+13.06%

Current Drawdown

Current decline from peak

-51.51%

-0.30%

-51.21%

Average Drawdown

Average peak-to-trough decline

-28.78%

-17.97%

-10.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

38.51%

13.48%

+25.03%

Volatility

PME.AX vs. TQQQ - Volatility Comparison

Pro Medicus Limited (PME.AX) has a higher volatility of 15.68% compared to ProShares UltraPro QQQ (TQQQ) at 11.71%. This indicates that PME.AX's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PME.AXTQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

15.68%

11.71%

+3.97%

Volatility (6M)

Calculated over the trailing 6-month period

48.20%

33.01%

+15.19%

Volatility (1Y)

Calculated over the trailing 1-year period

50.99%

43.96%

+7.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

41.52%

62.20%

-20.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

43.43%

62.64%

-19.21%

Dividends

PME.AX vs. TQQQ - Dividend Comparison

PME.AX's dividend yield for the trailing twelve months is around 0.39%, more than TQQQ's 0.36% yield.

PositionTTM20252024202320222021202020192018201720162015
PME.AX
Pro Medicus Limited		0.39%0.25%0.16%0.31%0.40%0.24%0.35%0.31%0.55%0.46%0.62%0.60%
TQQQ
ProShares UltraPro QQQ		0.36%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

PME.AX and TQQQ have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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