QQQA vs. TQQQ

Last updated Jun 5, 2026

QQQA (ProShares Nasdaq-100 Dorsey Wright Momentum ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - QQQA is a Nasdaq-100 fund tracking the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, QQQA returned 14.57%/yr vs 27.97%/yr for TQQQ. Their correlation of 0.88 suggests significant overlap in exposure. QQQA charges 0.58%/yr vs 0.95%/yr for TQQQ.

Performance

QQQA vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QQQA having a 64.12% return and TQQQ slightly lower at 61.91%.

QQQA

• 1D: -0.76%
• 1M: 19.04%
• YTD: 64.12%
• 6M: 67.24%
• 1Y: 86.88%
• 3Y*: 34.14%
• 5Y*: 14.57%
• 10Y*: —

TQQQ

• 1D: -1.55%
• 1M: 26.46%
• YTD: 61.91%
• 6M: 54.01%
• 1Y: 132.34%
• 3Y*: 68.49%
• 5Y*: 27.97%
• 10Y*: 44.95%

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

QQQA vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	64.12%	9.87%	16.17%	24.98%	-29.08%	8.43%
TQQQ ProShares UltraPro QQQ	61.91%	34.35%	58.27%	198.04%	-79.09%	69.60%

Correlation

The correlation between QQQA and TQQQ is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 21, 2021	0.88

The correlation between QQQA and TQQQ has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

QQQA vs. TQQQ - Sectors Allocation Comparison

Sectors	QQQA	TQQQ
Technology	65.2%	53.8%
Communication Services	13.7%	15.8%
Energy	9.1%	0.6%
Healthcare	7.8%	4.2%
Consumer Cyclical	4.2%	12.3%
Basic Materials	-	1.1%
Consumer Defensive	-	7.7%
Financial Services	-	0.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

QQQA vs. TQQQ — Risk / Return Rank

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

QQQA

QQQA Risk / Return Rank: 90
QQQA Sharpe Ratio Rank: 93
QQQA Sortino Ratio Rank: 87
QQQA Omega Ratio Rank: 87
QQQA Calmar Ratio Rank: 92
QQQA Martin Ratio Rank: 92

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 67
TQQQ Omega Ratio Rank: 66
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

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.

QQQA vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and ProShares UltraPro QQQ (TQQQ). 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.

	QQQA	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	3.35	2.80	+0.55
Sortino ratio: Return per unit of downside risk	3.94	3.01	+0.93
Omega ratio: Gain probability vs. loss probability	1.53	1.39	+0.14
Calmar ratio: Return relative to maximum drawdown	6.01	3.60	+2.41
Martin ratio: Return relative to average drawdown	22.45	11.77	+10.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQA vs. TQQQ - Sharpe Ratio Comparison

The current QQQA Sharpe Ratio is 3.35, which is comparable to the TQQQ Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of QQQA and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQQA	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	2.80	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.42	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.74	-0.15

Drawdowns

QQQA vs. TQQQ - Drawdown Comparison

The maximum QQQA drawdown since its inception was -38.44%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for QQQA and TQQQ.

Drawdown Indicators

	QQQA	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-38.44%	-81.66%	+43.22%
Max Drawdown (1Y) Largest decline over 1 year	-14.54%	-36.97%	+22.43%
Max Drawdown (3Y) Largest decline over 3 years	-30.84%	-58.04%	+27.20%
Max Drawdown (5Y) Largest decline over 5 years	-38.44%	-81.66%	+43.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-0.76%	-2.29%	+1.53%
Average Drawdown Average peak-to-trough decline	-15.66%	-18.52%	+2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	11.28%	-7.40%

Volatility

QQQA vs. TQQQ - Volatility Comparison

The current volatility for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) is 10.13%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.35%. This indicates that QQQA experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQA	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.13%	13.35%	-3.22%
Volatility (6M) Calculated over the trailing 6-month period	22.18%	36.04%	-13.86%
Volatility (1Y) Calculated over the trailing 1-year period	26.07%	47.60%	-21.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.82%	66.50%	-40.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.76%	65.95%	-40.19%

QQQA vs. TQQQ - Expense Ratio Comparison

QQQA has a 0.58% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

QQQA vs. TQQQ - Dividend Comparison

QQQA's dividend yield for the trailing twelve months is around 0.06%, less than TQQQ's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	0.06%	0.10%	0.09%	0.34%	0.28%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.37%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both QQQA and TQQQ in my portfolio?

QQQA and TQQQ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQA or TQQQ?

TQQQ has higher volatility (13.35%) compared to QQQA (10.13%). In terms of maximum drawdown, QQQA dropped -38.44% vs TQQQ's -81.66%.

Which ETF is better, QQQA or TQQQ?

On 5-year performance, TQQQ leads with 27.97% vs 14.57% for QQQA. On fees, QQQA is cheaper at 0.58% per year. On volatility, QQQA has been the lower-risk option at 10.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQA or TQQQ?

Over the 5-year period, TQQQ has performed better with a 27.97% return vs 14.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQA or TQQQ?

QQQA is cheaper with a 0.58% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, QQQA or TQQQ?

TQQQ has the higher dividend yield at 0.37%, compared with 0.06% for QQQA.

What is the main difference between QQQA and TQQQ?

QQQA is categorized as Nasdaq-100, while TQQQ is Leveraged Equities. QQQA tracks NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 0.58% for QQQA and 0.95% for TQQQ.

Which has better risk-adjusted returns?

QQQA currently has the higher Sharpe Ratio (3.35 vs 2.80), 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.