QQQA vs. USD
QQQA (ProShares Nasdaq-100 Dorsey Wright Momentum ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - QQQA is a Nasdaq-100 fund tracking the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, 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, QQQA returned 14.43%/yr vs 64.73%/yr for USD. Their correlation of 0.81 suggests significant overlap in exposure. QQQA charges 0.58%/yr vs 0.95%/yr for USD.
Performance
QQQA vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, QQQA achieves a 65.39% return, which is significantly lower than USD's 92.18% return.
QQQA
- 1D
- 1.95%
- 1M
- 7.50%
- YTD
- 65.39%
- 6M
- 61.39%
- 1Y
- 87.84%
- 3Y*
- 34.29%
- 5Y*
- 14.43%
- 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%
QQQA vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF | 65.39% | 9.87% | 16.17% | 24.98% | -29.08% | 9.84% |
USD ProShares Ultra Semiconductors | 92.18% | 62.08% | 139.64% | 228.79% | -68.57% | 94.82% |
Correlation
The correlation between QQQA and USD is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.81 |
The correlation between QQQA and USD has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
QQQA vs. USD - Sectors Allocation Comparison
Sectors
QQQA
USD
Technology
Communication Services
-
Energy
Healthcare
-
Consumer Cyclical
-
Basic Materials
-
-
Consumer Defensive
-
-
Financial Services
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Technology
QQQA
USD
Communication Services
QQQA
USD
-
Energy
QQQA
USD
Healthcare
QQQA
USD
-
Consumer Cyclical
QQQA
USD
-
Basic Materials
QQQA
-
USD
-
Consumer Defensive
QQQA
-
USD
-
Financial Services
QQQA
-
USD
Industrials
QQQA
-
USD
-
Real Estate
QQQA
-
USD
-
Utilities
QQQA
-
USD
-
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Return for Risk
QQQA vs. USD — Risk / Return Rank
QQQA
USD
QQQA vs. USD - 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 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.
| QQQA | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.38 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 6.07 | 5.86 | +0.22 |
| Martin ratioReturn relative to average drawdown | 21.55 | 16.16 | +5.39 |
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Drawdowns
QQQA vs. USD - Drawdown Comparison
The maximum QQQA drawdown since its inception was -38.44%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for QQQA and USD.
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Drawdown Indicators
| QQQA | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.44% | -88.63% | +50.19% |
Max Drawdown (1Y)Largest decline over 1 year | -14.54% | -31.80% | +17.26% |
Max Drawdown (3Y)Largest decline over 3 years | -30.84% | -64.46% | +33.62% |
Max Drawdown (5Y)Largest decline over 5 years | -38.44% | -77.85% | +39.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -5.47% | -11.21% | +5.74% |
Average DrawdownAverage peak-to-trough decline | -15.53% | -32.29% | +16.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 11.50% | -7.41% |
Volatility
QQQA vs. USD - Volatility Comparison
The current volatility for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) is 16.88%, while ProShares Ultra Semiconductors (USD) has a volatility of 33.79%. This indicates that QQQA 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
| QQQA | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.88% | 33.79% | -16.91% |
Volatility (6M)Calculated over the trailing 6-month period | 26.73% | 53.90% | -27.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.28% | 67.84% | -37.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.74% | 77.74% | -51.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.54% | 69.82% | -43.28% |
QQQA vs. USD - Expense Ratio Comparison
QQQA has a 0.58% expense ratio, which is lower than USD's 0.95% expense ratio.
Dividends
QQQA vs. USD - Dividend Comparison
QQQA's dividend yield for the trailing twelve months is around 0.02%, less than USD's 0.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF | 0.02% | 0.10% | 0.09% | 0.34% | 0.28% | 0.10% | 0.00% | 0.00% | 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
QQQA 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 (33.79%) compared to QQQA (16.88%). In terms of maximum drawdown, QQQA dropped -38.44% vs USD's -88.63%.
On 5-year performance, USD leads with 64.73% vs 14.43% for QQQA. On fees, QQQA is cheaper at 0.58% per year. On volatility, QQQA has been the lower-risk option at 16.88%. 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 14.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQA is cheaper with a 0.58% expense ratio, compared with 0.95% for USD.
USD has the higher dividend yield at 0.30%, compared with 0.02% for QQQA.
QQQA is categorized as Nasdaq-100, while USD is Leveraged Equities. QQQA tracks NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, while USD tracks Dow Jones U.S. Semiconductors Index (200%). Their fees differ too: 0.58% for QQQA and 0.95% for USD.
QQQA currently has the higher Sharpe Ratio (2.92 vs 2.75), 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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