PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QQQ vs. SQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. SQQQ

Last updated Jul 21, 2026
Documentation

QQQ (Invesco QQQ ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, QQQ returned 20.72%/yr vs -54.75%/yr for SQQQ. At a correlation of -1.00, they often move in opposite directions. QQQ charges 0.18%/yr vs 0.95%/yr for SQQQ.

Performance

QQQ vs. SQQQ - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, QQQ achieves a 13.58% return, which is significantly higher than SQQQ's -36.18% return. Over the past 10 years, QQQ has outperformed SQQQ with an annualized return of 20.72%, while SQQQ has yielded a comparatively lower -54.75% annualized return.

QQQ

1D
0.10%
1M
-5.91%
6M
12.30%
YTD
13.58%
1Y
24.61%
3Y*
23.54%
5Y*
14.68%
10Y*
20.72%
ALL TIME*
10.70%

SQQQ

1D
-0.26%
1M
17.99%
6M
-34.34%
YTD
-36.18%
1Y
-51.42%
3Y*
-51.15%
5Y*
-45.04%
10Y*
-54.75%
ALL TIME*
-52.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. SQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQQ
Invesco QQQ ETF		13.58%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%
SQQQ
ProShares UltraPro Short QQQ		-36.18%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%

Correlation

The correlation between QQQ and SQQQ is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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 QQQ and SQQQ has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.

QQQ vs. SQQQ - Sectors Allocation Comparison

Sectors
QQQ
SQQQ

Technology

60.9%

-

Communication Services

13.1%

-

Consumer Cyclical

10.7%

-

Consumer Defensive

6.3%

-

Healthcare

3.6%

-

Industrials

2.7%

-

Utilities

1.1%

-

Basic Materials

1.0%

-

Energy

0.5%

-

Financial Services

0.2%
113.3%

Real Estate

0.1%

-

Technology

QQQ
60.9%
SQQQ

-

Communication Services

QQQ
13.1%
SQQQ

-

Consumer Cyclical

QQQ
10.7%
SQQQ

-

Consumer Defensive

QQQ
6.3%
SQQQ

-

Healthcare

QQQ
3.6%
SQQQ

-

Industrials

QQQ
2.7%
SQQQ

-

Utilities

QQQ
1.1%
SQQQ

-

Basic Materials

QQQ
1.0%
SQQQ

-

Energy

QQQ
0.5%
SQQQ

-

Financial Services

QQQ
0.2%
SQQQ
113.3%

Real Estate

QQQ
0.1%
SQQQ

-

Compare stocks, funds, or ETFs

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

Invesco QQQ ETF

ProShares UltraPro Short QQQ

Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. SPMO
Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. QIDSQQQ vs. SPXUSQQQ vs. UVXYSQQQ vs. UVIX

Return for Risk

QQQ vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 5151
Overall Rank
QQQ Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 4747
Sortino Ratio Rank
QQQ Omega Ratio Rank: 4848
Omega Ratio Rank
QQQ Calmar Ratio Rank: 5454
Calmar Ratio Rank
QQQ Martin Ratio Rank: 5757
Martin Ratio Rank
SQQQ
SQQQ Risk / Return Rank: 22
Overall Rank
SQQQ Sharpe Ratio Rank: 22
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 22
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 22
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 22
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 00
Martin Ratio Rank
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.

QQQ vs. SQQQ - Risk-Adjusted Trends Comparison

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

QQQSQQQDifference
Sharpe ratioReturn per unit of total volatility
1.32
-0.92

+2.24

Sortino ratioReturn per unit of downside risk
1.83
-1.42

+3.25

Omega ratioGain probability vs. loss probability

1.23

0.85

+0.39

Calmar ratioReturn relative to maximum drawdown

2.07

-0.84

+2.91

Martin ratioReturn relative to average drawdown

7.22

-1.53

+8.75

QQQ vs. SQQQ - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 1.32, which is higher than the SQQQ Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of QQQ 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.

Loading charts...

Drawdowns

QQQ vs. SQQQ - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QQQ and SQQQ.

Loading charts...

Drawdown Indicators

QQQSQQQDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-100.00%

+17.03%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-61.03%

+49.07%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-92.51%

+69.74%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

-97.27%

+62.15%

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

-99.97%

+64.85%

Current Drawdown

Current decline from peak

-6.61%

-100.00%

+93.39%

Average Drawdown

Average peak-to-trough decline

-32.65%

-92.76%

+60.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.42%

33.69%

-30.27%

Volatility

QQQ vs. SQQQ - Volatility Comparison

The current volatility for Invesco QQQ ETF (QQQ) is 7.41%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 21.99%. This indicates that QQQ 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.

Loading charts...

Volatility by Period

QQQSQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.41%

21.99%

-14.58%

Volatility (6M)

Calculated over the trailing 6-month period

15.55%

46.34%

-30.79%

Volatility (1Y)

Calculated over the trailing 1-year period

18.78%

56.15%

-37.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.81%

67.92%

-45.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.45%

66.60%

-44.15%

QQQ vs. SQQQ - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

QQQ vs. SQQQ - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.44%, less than SQQQ's 9.36% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.44%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
SQQQ
ProShares UltraPro Short QQQ		9.36%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%0.00%0.00%

Frequently Asked Questions

QQQ and SQQQ 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.

SQQQ has higher volatility (21.99%) compared to QQQ (7.41%). In terms of maximum drawdown, QQQ dropped -82.97% vs SQQQ's -100.00%.

On 10-year performance, QQQ leads with 20.72% vs -54.75% for SQQQ. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 7.41%. 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 20.72% return vs -54.75%. 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 SQQQ.

SQQQ has the higher dividend yield at 9.36%, compared with 0.44% for QQQ.

QQQ is categorized as Nasdaq-100, while SQQQ is Leveraged Equities. QQQ tracks NASDAQ-100 Index, while SQQQ tracks NASDAQ-100 Index (-300%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.18% for QQQ and 0.95% for SQQQ.

QQQ currently has the higher Sharpe Ratio (1.32 vs -0.92), 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.

Portfolio Optimizer

Find the right allocation for QQQ and SQQQ

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer