QID vs. SPY
Compare and contrast key facts about ProShares UltraShort QQQ (QID) and SPDR S&P 500 ETF (SPY).
QID and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QID is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-200%). It was launched on Jul 11, 2006. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both QID and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QID or SPY.
Performance
QID vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, QID achieves a -30.24% return, which is significantly lower than SPY's 24.40% return. Over the past 10 years, QID has underperformed SPY with an annualized return of -35.44%, while SPY has yielded a comparatively higher 13.04% annualized return.
QID
-30.24%
-1.95%
-16.58%
-37.49%
-40.45%
-35.44%
SPY
24.40%
0.59%
11.33%
31.86%
15.23%
13.04%
Key characteristics
| QID | SPY | |
|---|---|---|
| Sharpe Ratio | -1.08 | 2.64 |
| Sortino Ratio | -1.64 | 3.53 |
| Omega Ratio | 0.82 | 1.49 |
| Calmar Ratio | -0.38 | 3.81 |
| Martin Ratio | -1.40 | 17.21 |
| Ulcer Index | 26.81% | 1.86% |
| Daily Std Dev | 34.92% | 12.15% |
| Max Drawdown | -99.97% | -55.19% |
| Current Drawdown | -99.97% | -2.17% |
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QID vs. SPY - Expense Ratio Comparison
QID has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.
Correlation
The correlation between QID and SPY is -0.89. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Risk-Adjusted Performance
QID vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and SPDR S&P 500 ETF (SPY). 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.
Dividends
QID vs. SPY - Dividend Comparison
QID's dividend yield for the trailing twelve months is around 8.91%, more than SPY's 1.20% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | 8.91% | 5.64% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.20% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
QID vs. SPY - Drawdown Comparison
The maximum QID drawdown since its inception was -99.97%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for QID and SPY. For additional features, visit the drawdowns tool.
Volatility
QID vs. SPY - Volatility Comparison
ProShares UltraShort QQQ (QID) has a higher volatility of 11.21% compared to SPDR S&P 500 ETF (SPY) at 4.08%. This indicates that QID's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.