QQDN vs. USD
QQDN (ProShares UltraShort QQQ Mega) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - QQDN is a Inverse Equities fund tracking the Nasdaq-100 Mega Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past year, QQDN returned -33.23% vs 92.29% for USD. Their -0.75 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
QQDN vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, QQDN achieves a -13.18% return, which is significantly lower than USD's 50.25% return.
QQDN
- 1D
- -5.15%
- 1M
- -7.09%
- 6M
- -15.46%
- YTD
- -13.18%
- 1Y
- -33.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -39.24%
USD
- 1D
- 1.44%
- 1M
- -10.08%
- 6M
- 34.80%
- YTD
- 50.25%
- 1Y
- 92.29%
- 3Y*
- 87.71%
- 5Y*
- 55.02%
- 10Y*
- 54.19%
- ALL TIME*
- 28.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $29.10K | $31.97K | $57.01K | |
| $68.86M | $72.62M | $95.81M |
QQDN vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQDN ProShares UltraShort QQQ Mega | -13.18% | -34.51% |
USD ProShares Ultra Semiconductors | 50.25% | 68.17% |
Correlation
The correlation between QQDN and USD is -0.75, 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. | -0.75 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025 | -0.75 |
The correlation between QQDN and USD has been stable across timeframes, ranging from -0.75 to -0.75 - a consistent structural relationship.
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Return for Risk
QQDN vs. USD — Risk / Return Rank
QQDN
USD
QQDN vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ Mega (QQDN) and ProShares Ultra Semiconductors (USD). 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.
| QQDN | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.22 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 2.16 | -2.83 |
| Martin ratioReturn relative to average drawdown | -1.18 | 6.21 | -7.40 |
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Drawdowns
QQDN vs. USD - Drawdown Comparison
The maximum QQDN drawdown since its inception was -50.19%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for QQDN and USD.
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Drawdown Indicators
| QQDN | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.19% | -88.63% | +38.44% |
Max Drawdown (1Y)Largest decline over 1 year | -43.68% | -39.33% | -4.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -64.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -44.25% | -30.59% | -13.66% |
Average DrawdownAverage peak-to-trough decline | -31.57% | -32.23% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.92% | 13.62% | +11.30% |
Volatility
QQDN vs. USD - Volatility Comparison
The current volatility for ProShares UltraShort QQQ Mega (QQDN) is 14.41%, while ProShares Ultra Semiconductors (USD) has a volatility of 28.19%. This indicates that QQDN experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQDN | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.41% | 28.19% | -13.78% |
Volatility (6M)Calculated over the trailing 6-month period | 32.99% | 61.13% | -28.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.40% | 73.80% | -31.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.84% | 78.73% | -37.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.84% | 70.38% | -29.54% |
QQDN vs. USD - Expense Ratio Comparison
Both QQDN and USD have an expense ratio of 0.95%.
Dividends
QQDN vs. USD - Dividend Comparison
QQDN's dividend yield for the trailing twelve months is around 5.67%, more than USD's 0.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQDN ProShares UltraShort QQQ Mega | 5.67% | 3.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.39% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
QQDN and USD have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (28.19%) compared to QQDN (14.41%). In terms of maximum drawdown, QQDN dropped -50.19% vs USD's -88.63%.
On 1-year performance, USD leads with 92.29% vs -33.23% for QQDN. Both ETFs have the same 0.95% expense ratio. On volatility, QQDN has been the lower-risk option at 14.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USD has performed better with a 92.29% return vs -33.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQDN and USD have the same expense ratio: 0.95% per year.
QQDN has the higher dividend yield at 5.67%, compared with 0.39% for USD.
QQDN is categorized as Inverse Equities, while USD is Leveraged Equities. QQDN tracks Nasdaq-100 Mega Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%).
USD currently has the higher Sharpe Ratio (1.15 vs -0.70), 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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