QQQA vs. UVXY
QQQA (ProShares Nasdaq-100 Dorsey Wright Momentum ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - QQQA is a Nasdaq-100 fund tracking the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 5 years, QQQA returned 11.64%/yr vs -67.79%/yr for UVXY. At a correlation of -0.63, they often move in opposite directions. QQQA charges 0.58%/yr vs 0.95%/yr for UVXY.
Performance
QQQA vs. UVXY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QQQA achieves a 42.37% return, which is significantly higher than UVXY's -29.20% return.
QQQA
- 1D
- -0.45%
- 1M
- -15.08%
- 6M
- 34.74%
- YTD
- 42.37%
- 1Y
- 58.31%
- 3Y*
- 24.51%
- 5Y*
- 11.64%
- 10Y*
- —
UVXY
- 1D
- 8.81%
- 1M
- -7.29%
- 6M
- -28.42%
- YTD
- -29.20%
- 1Y
- -70.71%
- 3Y*
- -60.83%
- 5Y*
- -67.79%
- 10Y*
- -71.80%
QQQA vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF | 42.37% | 9.87% | 16.17% | 24.98% | -29.08% | 9.84% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -29.20% | -65.32% | -50.90% | -87.70% | -44.81% | -74.58% |
Correlation
The correlation between QQQA and UVXY is -0.57, 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 | -0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.63 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | -0.63 |
The correlation between QQQA and UVXY has been stable across timeframes, ranging from -0.63 to -0.57 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QQQA vs. UVXY — Risk / Return Rank
QQQA
UVXY
QQQA vs. UVXY - 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 VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.59 | ||
| Sortino ratioReturn per unit of downside risk | +3.66 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.84 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | -0.96 | +4.10 |
| Martin ratioReturn relative to average drawdown | 11.47 | -1.43 | +12.89 |
Loading charts...
Drawdowns
QQQA vs. UVXY - Drawdown Comparison
The maximum QQQA drawdown since its inception was -38.44%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QQQA and UVXY.
Loading charts...
Drawdown Indicators
| QQQA | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.44% | -100.00% | +61.56% |
Max Drawdown (1Y)Largest decline over 1 year | -18.63% | -73.88% | +55.25% |
Max Drawdown (3Y)Largest decline over 3 years | -30.84% | -95.42% | +64.58% |
Max Drawdown (5Y)Largest decline over 5 years | -38.44% | -99.75% | +61.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -18.63% | -100.00% | +81.37% |
Average DrawdownAverage peak-to-trough decline | -15.48% | -98.76% | +83.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.10% | 49.63% | -44.53% |
Volatility
QQQA vs. UVXY - Volatility Comparison
The current volatility for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) is 15.85%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 19.34%. This indicates that QQQA experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| QQQA | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.85% | 19.34% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 29.97% | 67.22% | -37.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.18% | 85.95% | -52.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.38% | 103.85% | -76.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.07% | 112.04% | -84.97% |
QQQA vs. UVXY - Expense Ratio Comparison
QQQA has a 0.58% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
QQQA vs. UVXY - Dividend Comparison
QQQA's dividend yield for the trailing twelve months is around 0.03%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF | 0.03% | 0.10% | 0.09% | 0.34% | 0.28% | 0.10% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QQQA and UVXY have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (19.34%) compared to QQQA (15.85%). In terms of maximum drawdown, QQQA dropped -38.44% vs UVXY's -100.00%.
On 5-year performance, QQQA leads with 11.64% vs -67.79% for UVXY. On fees, QQQA is cheaper at 0.58% per year. On volatility, QQQA has been the lower-risk option at 15.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QQQA has performed better with a 11.64% return vs -67.79%. 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 UVXY.
QQQA has the higher dividend yield at 0.03%, compared with 0.00% for UVXY.
QQQA is categorized as Nasdaq-100, while UVXY is Volatility. QQQA tracks NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 0.58% for QQQA and 0.95% for UVXY.
QQQA currently has the higher Sharpe Ratio (1.77 vs -0.82), 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.
Find the right allocation for QQQA and UVXY
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