QID vs. IQQQ
QID (ProShares UltraShort QQQ) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - QID is a Leveraged Equities fund tracking the NASDAQ-100 Index (-200%), while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, QID returned -35.07% vs 21.93% for IQQQ. Their -0.99 correlation means they have often moved in opposite directions in the past. QID charges 0.95%/yr vs 0.55%/yr for IQQQ.
Performance
QID vs. IQQQ - 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 IQQQ's 10.08% 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%
IQQQ
- 1D
- 0.73%
- 1M
- -3.19%
- 6M
- 8.63%
- YTD
- 10.08%
- 1Y
- 21.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.00M | $2.37M | $2.93M | |
| $255.66M | $222.38M | $304.58M |
QID vs. IQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QID ProShares UltraShort QQQ | -21.02% | -34.97% | -24.77% |
IQQQ ProShares Nasdaq-100 High Income ETF | 10.08% | 17.11% | 14.82% |
Correlation
The correlation between QID and IQQQ is -0.99, 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. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024 | -0.99 |
The correlation between QID and IQQQ has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.
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Return for Risk
QID vs. IQQQ — Risk / Return Rank
QID
IQQQ
QID vs. IQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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 | IQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.91 | ||
| Sortino ratioReturn per unit of downside risk | -2.68 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.19 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 1.76 | -2.49 |
| Martin ratioReturn relative to average drawdown | -1.34 | 5.26 | -6.60 |
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Drawdowns
QID vs. IQQQ - Drawdown Comparison
The maximum QID drawdown since its inception was -99.99%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for QID and IQQQ.
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Drawdown Indicators
| QID | IQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -20.41% | -79.58% |
Max Drawdown (1Y)Largest decline over 1 year | -44.65% | -11.25% | -33.40% |
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 | -99.21% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -7.56% | -92.43% |
Average DrawdownAverage peak-to-trough decline | -87.09% | -3.71% | -83.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.20% | 3.77% | +20.43% |
Volatility
QID vs. IQQQ - Volatility Comparison
ProShares UltraShort QQQ (QID) has a higher volatility of 13.93% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 6.84%. This indicates that QID's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QID | IQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.93% | 6.84% | +7.09% |
Volatility (6M)Calculated over the trailing 6-month period | 32.16% | 15.11% | +17.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.79% | 18.47% | +20.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.80% | 19.30% | +26.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.96% | 19.30% | +25.66% |
QID vs. IQQQ - Expense Ratio Comparison
QID has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.
Dividends
QID vs. IQQQ - Dividend Comparison
QID's dividend yield for the trailing twelve months is around 7.46%, more than IQQQ's 5.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IQQQ ProShares Nasdaq-100 High Income ETF | 5.37% | 10.34% | 7.27% | 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 IQQQ have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QID has higher volatility (13.93%) compared to IQQQ (6.84%). In terms of maximum drawdown, QID dropped -99.99% vs IQQQ's -20.41%.
On 1-year performance, IQQQ leads with 21.93% vs -35.07% for QID. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 6.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IQQQ has performed better with a 21.93% return vs -35.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for QID.
QID has the higher dividend yield at 7.46%, compared with 5.37% for IQQQ.
QID is categorized as Leveraged Equities, while IQQQ is Nasdaq-100. QID tracks NASDAQ-100 Index (-200%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for QID and 0.55% for IQQQ.
IQQQ currently has the higher Sharpe Ratio (1.07 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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