QID vs. IFED
QID (ProShares UltraShort QQQ) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - QID tracks the NASDAQ-100 Index (-200%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, QID returned -33.07%/yr vs 18.74%/yr for IFED. Their -0.72 correlation means they have often moved in opposite directions in the past. QID charges 0.95%/yr vs 0.45%/yr for IFED.
Performance
QID vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, QID achieves a -21.02% return, which is significantly lower than IFED's 10.03% return.
QID
- 1D
- -1.22%
- 1M
- 6.86%
- 6M
- -19.38%
- YTD
- -21.02%
- 1Y
- -35.07%
- 3Y*
- -33.07%
- 5Y*
- -27.97%
- 10Y*
- -37.32%
- ALL TIME*
- -34.54%
IFED
- 1D
- 0.00%
- 1M
- 13.92%
- 6M
- 14.63%
- YTD
- 10.03%
- 1Y
- 14.76%
- 3Y*
- 18.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $159.79K | $83.84K | $44.71K | |
| $255.66M | $222.38M | $304.58M |
QID vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | -21.02% | -34.97% | -34.06% | -57.19% | 66.30% | -14.40% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 10.03% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between QID and IFED is -0.54, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.54 |
Correlation (3Y) Balances recent behavior with more history. | -0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | -0.72 |
The correlation between QID and IFED shifts across timeframes, from -0.72 (all time) to -0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QID vs. IFED — Risk / Return Rank
QID
IFED
QID vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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 | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.14 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 0.64 | -1.37 |
| Martin ratioReturn relative to average drawdown | -1.34 | 2.01 | -3.35 |
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Drawdowns
QID vs. IFED - Drawdown Comparison
The maximum QID drawdown since its inception was -99.99%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for QID and IFED.
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Drawdown Indicators
| QID | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -22.36% | -77.63% |
Max Drawdown (1Y)Largest decline over 1 year | -44.65% | -20.18% | -24.47% |
Max Drawdown (3Y)Largest decline over 3 years | -79.50% | -22.36% | -57.14% |
Max Drawdown (5Y)Largest decline over 5 years | -88.72% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.21% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -7.61% | -92.38% |
Average DrawdownAverage peak-to-trough decline | -87.09% | -5.85% | -81.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.20% | 6.43% | +17.77% |
Volatility
QID vs. IFED - Volatility Comparison
The current volatility for ProShares UltraShort QQQ (QID) is 13.93%, while ETRACS IFED Invest with the Fed TR Index ETN (IFED) has a volatility of 24.07%. This indicates that QID experiences smaller price fluctuations and is considered to be less risky than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QID | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.93% | 24.07% | -10.14% |
Volatility (6M)Calculated over the trailing 6-month period | 32.16% | 27.96% | +4.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.79% | 29.34% | +9.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.80% | 22.56% | +23.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.96% | 22.56% | +22.40% |
QID vs. IFED - Expense Ratio Comparison
QID has a 0.95% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
QID vs. IFED - Dividend Comparison
QID's dividend yield for the trailing twelve months is around 7.46%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QID ProShares UltraShort QQQ | 7.46% | 6.25% | 7.99% | 5.63% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.08% |
Frequently Asked Questions
QID and IFED have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IFED has higher volatility (24.07%) compared to QID (13.93%). In terms of maximum drawdown, QID dropped -99.99% vs IFED's -22.36%.
On 3-year performance, IFED leads with 18.74% vs -33.07% for QID. On fees, IFED is cheaper at 0.45% per year. On volatility, QID has been the lower-risk option at 13.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 18.74% return vs -33.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.95% for QID.
QID has the higher dividend yield at 7.46%, compared with 0.00% for IFED.
QID tracks NASDAQ-100 Index (-200%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: ProShares and UBS. Their fees differ too: 0.95% for QID and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.44 vs -0.84), 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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