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QID vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QID vs. QQQ

Last updated Aug 4, 2026
Documentation

QID (ProShares UltraShort QQQ) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - QID is a Leveraged Equities fund tracking the NASDAQ-100 Index (-200%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, QID returned -37.34%/yr vs 20.46%/yr for QQQ. Their -0.99 correlation means they have often moved in opposite directions in the past. QID charges 0.95%/yr vs 0.18%/yr for QQQ.

Performance

QID vs. QQQ - Performance Comparison

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

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Returns By Period

In the year-to-date period, QID achieves a -23.79% return, which is significantly lower than QQQ's 14.23% return. Over the past 10 years, QID has underperformed QQQ with an annualized return of -37.34%, while QQQ has yielded a comparatively higher 20.46% annualized return.

QID

1D
-3.50%
1M
3.12%
6M
-21.05%
YTD
-23.79%
1Y
-37.34%
3Y*
-35.09%
5Y*
-28.25%
10Y*
-37.34%
ALL TIME*
-34.64%

QQQ

1D
1.76%
1M
-1.76%
6M
12.07%
YTD
14.23%
1Y
27.00%
3Y*
24.17%
5Y*
14.45%
10Y*
20.46%
ALL TIME*
10.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

QID

ProShares UltraShort QQQ
$256.97M$224.54M$302.82M

QQQ

Invesco QQQ ETF
$31.40B$28.17B$31.69B

QID vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QID
ProShares UltraShort QQQ		-23.79%-34.97%-34.06%-57.19%66.30%-44.93%-69.71%-49.57%-9.90%-44.00%
QQQ
Invesco QQQ ETF		14.23%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between QID and QQQ is -1.00, 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.

-1.00

Correlation (3Y)
Balances recent behavior with more history.

-1.00

Correlation (5Y)
Shows whether the relationship held over a longer period.

-1.00

Correlation (10Y)
Provides a long-term view across more market conditions.

-1.00

Correlation (All Time)
Calculated using the full available price history since Jul 13, 2006

-0.99

The correlation between QID and QQQ has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.

QID vs. QQQ - Sectors Allocation Comparison

Sectors
QID
QQQ

Financial Services

64.8%
0.2%

Basic Materials

-

1.0%

Communication Services

-

13.1%

Consumer Cyclical

-

10.7%

Consumer Defensive

-

6.3%

Energy

-

0.5%

Healthcare

-

3.6%

Industrials

-

2.7%

Real Estate

-

0.1%

Technology

-

60.9%

Utilities

-

1.1%

Financial Services

QID
64.8%
QQQ
0.2%

Basic Materials

QID

-

QQQ
1.0%

Communication Services

QID

-

QQQ
13.1%

Consumer Cyclical

QID

-

QQQ
10.7%

Consumer Defensive

QID

-

QQQ
6.3%

Energy

QID

-

QQQ
0.5%

Healthcare

QID

-

QQQ
3.6%

Industrials

QID

-

QQQ
2.7%

Real Estate

QID

-

QQQ
0.1%

Technology

QID

-

QQQ
60.9%

Utilities

QID

-

QQQ
1.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraShort QQQ

Invesco QQQ ETF

Often compared with QID:
QID vs. SQQQQID vs. PSQQID vs. TQQQQID vs. UVXYQID vs. RWMQID vs. TZAQID vs. SPY
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. SPMO

Return for Risk

QID vs. QQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
QID
QID Risk / Return Rank: 22
Overall Rank
QID Sharpe Ratio Rank: 22
Sharpe Ratio Rank
QID Sortino Ratio Rank: 22
Sortino Ratio Rank
QID Omega Ratio Rank: 22
Omega Ratio Rank
QID Calmar Ratio Rank: 22
Calmar Ratio Rank
QID Martin Ratio Rank: 00
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 5858
Overall Rank
QQQ Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 5555
Sortino Ratio Rank
QQQ Omega Ratio Rank: 5555
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6464
Calmar Ratio Rank
QQQ Martin Ratio Rank: 5959
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QID vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and Invesco QQQ ETF (QQQ). 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.

QIDQQQDifference
Sharpe ratioReturn per unit of total volatility
-0.97
1.40

-2.37

Sortino ratioReturn per unit of downside risk
-1.42
1.95

-3.37

Omega ratioGain probability vs. loss probability

0.85

1.25

-0.40

Calmar ratioReturn relative to maximum drawdown

-0.84

2.27

-3.11

Martin ratioReturn relative to average drawdown

-1.59

7.21

-8.80

QID vs. QQQ - Sharpe Ratio Comparison

The current QID Sharpe Ratio is -0.97, which is lower than the QQQ Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of QID and QQQ, 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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Drawdowns

QID vs. QQQ - Drawdown Comparison

The maximum QID drawdown since its inception was -99.99%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for QID and QQQ.

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Drawdown Indicators

QIDQQQDifference

Max Drawdown

Largest peak-to-trough decline

-99.99%

-82.97%

-17.02%

Max Drawdown (1Y)

Largest decline over 1 year

-44.38%

-11.96%

-32.42%

Max Drawdown (3Y)

Largest decline over 3 years

-79.50%

-22.77%

-56.73%

Max Drawdown (5Y)

Largest decline over 5 years

-88.72%

-35.12%

-53.60%

Max Drawdown (10Y)

Largest decline over 10 years

-99.21%

-35.12%

-64.09%

Current Drawdown

Current decline from peak

-99.99%

-6.07%

-93.92%

Average Drawdown

Average peak-to-trough decline

-87.09%

-32.61%

-54.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

24.31%

3.76%

+20.55%

Volatility

QID vs. QQQ - Volatility Comparison

ProShares UltraShort QQQ (QID) has a higher volatility of 14.10% compared to Invesco QQQ ETF (QQQ) at 6.96%. This indicates that QID's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QIDQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.10%

6.96%

+7.14%

Volatility (6M)

Calculated over the trailing 6-month period

32.23%

16.12%

+16.11%

Volatility (1Y)

Calculated over the trailing 1-year period

38.77%

19.37%

+19.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

45.84%

22.92%

+22.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

44.99%

22.51%

+22.48%

QID vs. QQQ - Expense Ratio Comparison

QID has a 0.95% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

QID vs. QQQ - Dividend Comparison

QID's dividend yield for the trailing twelve months is around 7.73%, more than QQQ's 0.43% yield.

PositionTTM20252024202320222021202020192018201720162015
QID
ProShares UltraShort QQQ		7.73%6.25%7.99%5.63%0.15%0.00%0.92%2.54%1.38%0.08%0.00%0.00%
QQQ
Invesco QQQ ETF		0.43%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

QID and QQQ have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QID has higher volatility (14.10%) compared to QQQ (6.96%). In terms of maximum drawdown, QID dropped -99.99% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 20.46% vs -37.34% for QID. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 6.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 20.46% return vs -37.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.95% for QID.

QID has the higher dividend yield at 7.73%, compared with 0.43% for QQQ.

QID is categorized as Leveraged Equities, while QQQ is Nasdaq-100. QID tracks NASDAQ-100 Index (-200%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for QID and 0.18% for QQQ.

QQQ currently has the higher Sharpe Ratio (1.40 vs -0.97), 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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