QID vs. SQQQ

Last updated Jul 12, 2026

QID (ProShares UltraShort QQQ) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - QID tracks the NASDAQ-100 Index (-200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, QID returned -38.34%/yr vs -55.56%/yr for SQQQ. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.95% expense ratio.

Performance

QID vs. SQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, QID achieves a -28.70% return, which is significantly higher than SQQQ's -43.51% return. Over the past 10 years, QID has outperformed SQQQ with an annualized return of -38.34%, while SQQQ has yielded a comparatively lower -55.56% annualized return.

QID

• 1D: -0.64%
• 1M: -0.57%
• 6M: -25.87%
• YTD: -28.70%
• 1Y: -41.01%
• 3Y*: -36.90%
• 5Y*: -29.74%
• 10Y*: -38.34%

SQQQ

• 1D: -0.84%
• 1M: -4.14%
• 6M: -40.16%
• YTD: -43.51%
• 1Y: -58.48%
• 3Y*: -54.03%
• 5Y*: -46.44%
• 10Y*: -55.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

QID vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QID ProShares UltraShort QQQ	-28.70%	-34.97%	-34.06%	-57.19%	66.30%	-44.93%	-69.71%	-49.57%	-9.90%	-44.00%
SQQQ ProShares UltraPro Short QQQ	-43.51%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-58.67%

Correlation

The correlation between QID and SQQQ is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	1.00

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

QID vs. SQQQ - Sectors Allocation Comparison

Sectors	QID	SQQQ
Financial Services	97.7%	109.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

QID vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QID

QID Risk / Return Rank: 1
QID Sharpe Ratio Rank: 1
QID Sortino Ratio Rank: 1
QID Omega Ratio Rank: 1
QID Calmar Ratio Rank: 1
QID Martin Ratio Rank: 0

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 0

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QID vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and ProShares UltraPro Short QQQ (SQQQ). 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	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	-1.06	-0.05
Sortino ratio: Return per unit of downside risk	-1.72	-1.81	+0.09
Omega ratio: Gain probability vs. loss probability	0.81	0.80	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.91	-0.96	+0.04
Martin ratio: Return relative to average drawdown	-1.81	-1.78	-0.02

QID vs. SQQQ - Sharpe Ratio Comparison

The current QID Sharpe Ratio is -1.10, which is comparable to the SQQQ Sharpe Ratio of -1.06. The chart below compares the historical Sharpe Ratios of QID and SQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QID vs. SQQQ - Drawdown Comparison

The maximum QID drawdown since its inception was -99.99%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QID and SQQQ.

Drawdown Indicators

	QID	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-100.00%	+0.01%
Max Drawdown (1Y) Largest decline over 1 year	-44.65%	-61.03%	+16.38%
Max Drawdown (3Y) Largest decline over 3 years	-79.50%	-92.51%	+13.01%
Max Drawdown (5Y) Largest decline over 5 years	-88.72%	-97.27%	+8.55%
Max Drawdown (10Y) Largest decline over 10 years	-99.25%	-99.97%	+0.72%
Current Drawdown Current decline from peak	-99.99%	-100.00%	+0.01%
Average Drawdown Average peak-to-trough decline	-87.05%	-92.75%	+5.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.54%	32.59%	-10.05%

Volatility

QID vs. SQQQ - Volatility Comparison

The current volatility for ProShares UltraShort QQQ (QID) is 17.52%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.13%. This indicates that QID experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QID	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.52%	26.13%	-8.61%
Volatility (6M) Calculated over the trailing 6-month period	30.45%	45.54%	-15.09%
Volatility (1Y) Calculated over the trailing 1-year period	36.93%	55.22%	-18.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.55%	67.80%	-22.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.81%	66.51%	-21.70%

QID vs. SQQQ - Expense Ratio Comparison

Both QID and SQQQ have an expense ratio of 0.95%.

Dividends

QID vs. SQQQ - Dividend Comparison

QID's dividend yield for the trailing twelve months is around 8.26%, less than SQQQ's 10.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
QID ProShares UltraShort QQQ	8.26%	6.25%	7.99%	5.63%	0.15%	0.00%	0.92%	2.54%	1.38%	0.08%
SQQQ ProShares UltraPro Short QQQ	10.57%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both QID and SQQQ in my portfolio?

With a correlation of 1.00, QID and SQQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QID or SQQQ?

SQQQ has higher volatility (26.13%) compared to QID (17.52%). In terms of maximum drawdown, QID dropped -99.99% vs SQQQ's -100.00%.

Which ETF is better, QID or SQQQ?

On 10-year performance, QID leads with -38.34% vs -55.56% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, QID has been the lower-risk option at 17.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QID or SQQQ?

Over the 10-year period, QID has performed better with a -38.34% return vs -55.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QID or SQQQ?

QID and SQQQ have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, QID or SQQQ?

SQQQ has the higher dividend yield at 10.57%, compared with 8.26% for QID.

What is the main difference between QID and SQQQ?

QID tracks NASDAQ-100 Index (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).

Which has better risk-adjusted returns?

SQQQ currently has the higher Sharpe Ratio (-1.06 vs -1.10), 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.