QID vs. NQ=F
QID (ProShares UltraShort QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (-200%), while NQ=F (E-Mini Nasdaq 100 Futures) is an asset. Over the past 10 years, QID returned -37.32%/yr vs 19.62%/yr for NQ=F. Their -0.97 correlation means they have often moved in opposite directions in the past.
Performance
QID vs. NQ=F - 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 NQ=F's 11.12% return. Over the past 10 years, QID has underperformed NQ=F with an annualized return of -37.32%, while NQ=F has yielded a comparatively higher 19.62% annualized 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%
NQ=F
- 1D
- 0.17%
- 1M
- -4.29%
- 6M
- 10.19%
- YTD
- 11.12%
- 1Y
- 23.61%
- 3Y*
- 21.38%
- 5Y*
- 13.59%
- 10Y*
- 19.62%
- ALL TIME*
- 8.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.68B | $16.69B | $17.71B | |
| $255.66M | $222.38M | $304.58M |
QID vs. NQ=F - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | -21.02% | -34.97% | -34.06% | -57.19% | 66.30% | -44.93% | -69.71% | -49.57% | -9.90% | -44.00% |
NQ=F E-Mini Nasdaq 100 Futures | 11.12% | 19.93% | 24.69% | 54.45% | -32.46% | 26.66% | 47.22% | 38.20% | -1.18% | 31.76% |
Correlation
The correlation between QID and NQ=F is -0.98, 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. | -0.98 |
Correlation (3Y) Balances recent behavior with more history. | -0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.98 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2006 | -0.97 |
The correlation between QID and NQ=F has been stable across timeframes, ranging from -0.99 to -0.97 - a consistent structural relationship.
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Return for Risk
QID vs. NQ=F — Risk / Return Rank
QID
NQ=F
QID vs. NQ=F - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and E-Mini Nasdaq 100 Futures (NQ=F). 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 | NQ=F | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.73 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.20 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 1.78 | -2.51 |
| Martin ratioReturn relative to average drawdown | -1.34 | 5.58 | -6.92 |
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Drawdowns
QID vs. NQ=F - Drawdown Comparison
The maximum QID drawdown since its inception was -99.99%, which is greater than NQ=F's maximum drawdown of -78.99%. Use the drawdown chart below to compare losses from any high point for QID and NQ=F.
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Drawdown Indicators
| QID | NQ=F | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -78.99% | -21.00% |
Max Drawdown (1Y)Largest decline over 1 year | -44.65% | -11.89% | -32.76% |
Max Drawdown (3Y)Largest decline over 3 years | -79.50% | -22.50% | -57.00% |
Max Drawdown (5Y)Largest decline over 5 years | -88.72% | -35.28% | -53.44% |
Max Drawdown (10Y)Largest decline over 10 years | -99.21% | -35.28% | -63.93% |
Current DrawdownCurrent decline from peak | -99.99% | -7.90% | -92.09% |
Average DrawdownAverage peak-to-trough decline | -87.09% | -29.47% | -57.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.20% | 3.79% | +20.41% |
Volatility
QID vs. NQ=F - Volatility Comparison
ProShares UltraShort QQQ (QID) has a higher volatility of 13.93% compared to E-Mini Nasdaq 100 Futures (NQ=F) at 6.76%. This indicates that QID's price experiences larger fluctuations and is considered to be riskier than NQ=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QID | NQ=F | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.93% | 6.76% | +7.17% |
Volatility (6M)Calculated over the trailing 6-month period | 32.16% | 15.67% | +16.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.79% | 19.23% | +19.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.80% | 23.10% | +22.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.96% | 22.59% | +22.37% |
Frequently Asked Questions
QID and NQ=F have a correlation of -0.98, 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 NQ=F (6.76%). In terms of maximum drawdown, QID dropped -99.99% vs NQ=F's -78.99%.
NQ=F currently has the higher Sharpe Ratio (1.10 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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