QQH vs. USD
QQH (HCM Defender 100 Index ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - QQH is a Technology Equities fund tracking the HCM Defender 100 Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 5 years, QQH returned 12.03%/yr vs 64.73%/yr for USD. Their correlation of 0.80 suggests significant overlap in exposure. QQH charges 1.14%/yr vs 0.95%/yr for USD.
Performance
QQH vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, QQH achieves a 6.29% return, which is significantly lower than USD's 92.18% return.
QQH
- 1D
- 0.21%
- 1M
- -5.14%
- YTD
- 6.29%
- 6M
- 3.88%
- 1Y
- 25.12%
- 3Y*
- 22.30%
- 5Y*
- 12.03%
- 10Y*
- —
USD
- 1D
- 4.73%
- 1M
- -0.57%
- YTD
- 92.18%
- 6M
- 86.88%
- 1Y
- 185.02%
- 3Y*
- 118.50%
- 5Y*
- 64.73%
- 10Y*
- 62.72%
QQH vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QQH HCM Defender 100 Index ETF | 6.29% | 15.66% | 33.64% | 48.05% | -39.60% | 37.52% | 41.71% | 15.09% |
USD ProShares Ultra Semiconductors | 92.18% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 40.88% |
Correlation
The correlation between QQH and USD is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.80 |
The correlation between QQH and USD has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.
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Return for Risk
QQH vs. USD — Risk / Return Rank
QQH
USD
QQH vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HCM Defender 100 Index ETF (QQH) 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.
| QQH | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.38 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 5.86 | -4.30 |
| Martin ratioReturn relative to average drawdown | 4.11 | 16.16 | -12.04 |
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Drawdowns
QQH vs. USD - Drawdown Comparison
The maximum QQH drawdown since its inception was -41.87%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for QQH and USD.
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Drawdown Indicators
| QQH | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -88.63% | +46.76% |
Max Drawdown (1Y)Largest decline over 1 year | -16.18% | -31.80% | +15.62% |
Max Drawdown (3Y)Largest decline over 3 years | -24.84% | -64.46% | +39.62% |
Max Drawdown (5Y)Largest decline over 5 years | -41.87% | -77.85% | +35.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -7.92% | -11.21% | +3.29% |
Average DrawdownAverage peak-to-trough decline | -12.87% | -32.29% | +19.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.13% | 11.50% | -5.37% |
Volatility
QQH vs. USD - Volatility Comparison
The current volatility for HCM Defender 100 Index ETF (QQH) is 11.60%, while ProShares Ultra Semiconductors (USD) has a volatility of 33.79%. This indicates that QQH 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
| QQH | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.60% | 33.79% | -22.19% |
Volatility (6M)Calculated over the trailing 6-month period | 17.73% | 53.90% | -36.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.02% | 67.84% | -44.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.01% | 77.74% | -55.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.99% | 69.82% | -44.83% |
QQH vs. USD - Expense Ratio Comparison
QQH has a 1.14% expense ratio, which is higher than USD's 0.95% expense ratio.
Dividends
QQH vs. USD - Dividend Comparison
QQH's dividend yield for the trailing twelve months is around 0.20%, less than USD's 0.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQH HCM Defender 100 Index ETF | 0.20% | 0.21% | 0.24% | 0.27% | 0.00% | 0.00% | 0.00% | 0.21% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.30% | 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
QQH and USD have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (33.79%) compared to QQH (11.60%). In terms of maximum drawdown, QQH dropped -41.87% vs USD's -88.63%.
On 5-year performance, USD leads with 64.73% vs 12.03% for QQH. On fees, USD is cheaper at 0.95% per year. On volatility, QQH has been the lower-risk option at 11.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USD has performed better with a 64.73% return vs 12.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USD is cheaper with a 0.95% expense ratio, compared with 1.14% for QQH.
USD has the higher dividend yield at 0.30%, compared with 0.20% for QQH.
QQH is categorized as Technology Equities, while USD is Leveraged Equities. QQH tracks HCM Defender 100 Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: Howard Capital Management and ProShares. Their fees differ too: 1.14% for QQH and 0.95% for USD.
USD currently has the higher Sharpe Ratio (2.75 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.
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