QID vs. DLLL

Last updated Jun 25, 2026

QID (ProShares UltraShort QQQ) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds - QID tracks the NASDAQ-100 Index (-200%) while DLLL tracks the Dell Technologies Inc. (DELL). Both are passively managed. Over the past year, QID returned -42.80% vs 753.45% for DLLL. At a correlation of -0.54, they often move in opposite directions. QID charges 0.95%/yr vs 1.50%/yr for DLLL.

Performance

QID vs. DLLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort QQQ (QID) and GraniteShares 2x Long DELL Daily ETF (DLLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QID achieves a -27.44% return, which is significantly lower than DLLL's 787.26% return.

QID

• 1D: -0.07%
• 1M: -0.75%
• YTD: -27.44%
• 6M: -24.99%
• 1Y: -42.80%
• 3Y*: -37.11%
• 5Y*: -30.42%
• 10Y*: -39.08%

DLLL

• 1D: 2.87%
• 1M: 94.80%
• YTD: 787.26%
• 6M: 750.24%
• 1Y: 753.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QID vs. DLLL - Yearly Performance Comparison

	2026 (YTD)	2025
QID ProShares UltraShort QQQ	-27.44%	-30.66%
DLLL GraniteShares 2x Long DELL Daily ETF	787.26%	-3.72%

Correlation

The correlation between QID and DLLL is -0.47, 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	-0.47
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.54

The correlation between QID and DLLL has been stable across timeframes, ranging from -0.54 to -0.47 - a consistent structural relationship.

QID vs. DLLL - Sectors Allocation Comparison

Sectors	QID	DLLL
Financial Services	93.8%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	66.6%
Utilities	-	-

Return for Risk

QID vs. DLLL — Risk / Return Rank

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

QID

QID Risk / Return Rank: 1
QID Sharpe Ratio Rank: 0
QID Sortino Ratio Rank: 1
QID Omega Ratio Rank: 1
QID Calmar Ratio Rank: 1
QID Martin Ratio Rank: 0

DLLL

DLLL Risk / Return Rank: 96
DLLL Sharpe Ratio Rank: 99
DLLL Sortino Ratio Rank: 95
DLLL Omega Ratio Rank: 93
DLLL Calmar Ratio Rank: 98
DLLL Martin Ratio Rank: 95

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.

QID vs. DLLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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.

	QID	DLLL	Difference
Sharpe ratio: Return per unit of total volatility	-1.20	5.81	-7.01
Sortino ratio: Return per unit of downside risk	-1.94	4.53	-6.46
Omega ratio: Gain probability vs. loss probability	0.79	1.56	-0.77
Calmar ratio: Return relative to maximum drawdown	-0.92	13.30	-14.22
Martin ratio: Return relative to average drawdown	-1.84	27.05	-28.89

QID vs. DLLL - Sharpe Ratio Comparison

The current QID Sharpe Ratio is -1.20, which is lower than the DLLL Sharpe Ratio of 5.81. The chart below compares the historical Sharpe Ratios of QID and DLLL, 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

QID vs. DLLL - Drawdown Comparison

The maximum QID drawdown since its inception was -99.99%, which is greater than DLLL's maximum drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for QID and DLLL.

Drawdown Indicators

	QID	DLLL	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-68.58%	-31.41%
Max Drawdown (1Y) Largest decline over 1 year	-46.67%	-57.19%	+10.52%
Max Drawdown (3Y) Largest decline over 3 years	-79.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-88.72%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.37%	—	—
Current Drawdown Current decline from peak	-99.99%	-16.07%	-83.92%
Average Drawdown Average peak-to-trough decline	-87.02%	-25.83%	-61.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.60%	28.06%	-4.46%

Volatility

QID vs. DLLL - Volatility Comparison

The current volatility for ProShares UltraShort QQQ (QID) is 17.87%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 61.95%. This indicates that QID experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QID	DLLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.87%	61.95%	-44.08%
Volatility (6M) Calculated over the trailing 6-month period	28.81%	102.52%	-73.71%
Volatility (1Y) Calculated over the trailing 1-year period	35.79%	130.96%	-95.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.36%	129.49%	-84.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.77%	129.49%	-84.72%

QID vs. DLLL - Expense Ratio Comparison

QID has a 0.95% expense ratio, which is lower than DLLL's 1.50% expense ratio.

Dividends

QID vs. DLLL - Dividend Comparison

QID's dividend yield for the trailing twelve months is around 7.15%, while DLLL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLLL GraniteShares 2x Long DELL Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QID ProShares UltraShort QQQ	7.15%	6.25%	7.99%	5.63%	0.15%	0.00%	0.92%	2.54%	1.38%	0.08%

Frequently Asked Questions

Can I hold both QID and DLLL in my portfolio?

QID and DLLL have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QID or DLLL?

DLLL has higher volatility (61.95%) compared to QID (17.87%). In terms of maximum drawdown, QID dropped -99.99% vs DLLL's -68.58%.

Which ETF is better, QID or DLLL?

On 1-year performance, DLLL leads with 753.45% vs -42.80% for QID. On fees, QID is cheaper at 0.95% per year. On volatility, QID has been the lower-risk option at 17.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QID or DLLL?

Over the 1-year period, DLLL has performed better with a 753.45% return vs -42.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QID or DLLL?

QID is cheaper with a 0.95% expense ratio, compared with 1.50% for DLLL.

Which ETF pays a higher dividend yield, QID or DLLL?

QID has the higher dividend yield at 7.15%, compared with 0.00% for DLLL.

What is the main difference between QID and DLLL?

QID tracks NASDAQ-100 Index (-200%), while DLLL tracks Dell Technologies Inc. (DELL). They also come from different issuers: ProShares and GraniteShares. Their fees differ too: 0.95% for QID and 1.50% for DLLL.

Which has better risk-adjusted returns?

DLLL currently has the higher Sharpe Ratio (5.81 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.