QQQM vs. TQQQ

Last updated Jun 16, 2026

QQQM (Invesco NASDAQ 100 ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, QQQM returned 17.66%/yr vs 26.58%/yr for TQQQ. With a 1.00 correlation, they move nearly in lockstep. QQQM charges 0.15%/yr vs 0.95%/yr for TQQQ.

Performance

QQQM vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQM achieves a 21.25% return, which is significantly lower than TQQQ's 60.72% return.

QQQM

• 1D: 3.11%
• 1M: 4.92%
• YTD: 21.25%
• 6M: 22.16%
• 1Y: 41.92%
• 3Y*: 27.28%
• 5Y*: 17.66%
• 10Y*: —

TQQQ

• 1D: 9.12%
• 1M: 12.28%
• YTD: 60.72%
• 6M: 63.13%
• 1Y: 133.92%
• 3Y*: 62.54%
• 5Y*: 26.58%
• 10Y*: 46.35%

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

QQQM vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	21.25%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%
TQQQ ProShares UltraPro QQQ	60.72%	34.35%	58.27%	198.04%	-79.09%	82.98%	17.85%

Correlation

The correlation between QQQM and TQQQ is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	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 (All Time) Calculated using the full available price history since Oct 13, 2020	1.00

The correlation between QQQM and TQQQ has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

QQQM vs. TQQQ - Sectors Allocation Comparison

Sectors	QQQM	TQQQ
Technology	58.7%	53.8%
Communication Services	14.3%	15.8%
Consumer Cyclical	11.4%	12.3%
Consumer Defensive	6.4%	7.7%
Healthcare	3.7%	4.2%
Industrials	2.6%	2.8%
Utilities	1.2%	1.4%
Basic Materials	1.0%	1.1%
Energy	0.5%	0.6%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

QQQM vs. TQQQ — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 80
QQQM Sharpe Ratio Rank: 85
QQQM Sortino Ratio Rank: 79
QQQM Omega Ratio Rank: 81
QQQM Calmar Ratio Rank: 76
QQQM Martin Ratio Rank: 76

TQQQ

TQQQ Risk / Return Rank: 75
TQQQ Sharpe Ratio Rank: 89
TQQQ Sortino Ratio Rank: 69
TQQQ Omega Ratio Rank: 71
TQQQ Calmar Ratio Rank: 78
TQQQ Martin Ratio Rank: 70

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.

QQQM vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) 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.

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.

	QQQM	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.60	-0.17
Sortino ratio: Return per unit of downside risk	3.13	2.80	+0.33
Omega ratio: Gain probability vs. loss probability	1.43	1.38	+0.05
Calmar ratio: Return relative to maximum drawdown	3.52	3.64	-0.12
Martin ratio: Return relative to average drawdown	13.11	11.67	+1.44

QQQM vs. TQQQ - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 2.43, which is comparable to the TQQQ Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of QQQM 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.

Drawdowns

QQQM vs. TQQQ - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for QQQM and TQQQ.

Drawdown Indicators

	QQQM	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-81.66%	+46.62%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-36.97%	+25.01%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-58.04%	+35.34%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	-81.66%	+46.62%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-0.32%	-3.02%	+2.70%
Average Drawdown Average peak-to-trough decline	-8.22%	-18.51%	+10.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	11.52%	-8.32%

Volatility

QQQM vs. TQQQ - Volatility Comparison

The current volatility for Invesco NASDAQ 100 ETF (QQQM) is 8.01%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 24.33%. This indicates that QQQM 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

	QQQM	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.01%	24.33%	-16.32%
Volatility (6M) Calculated over the trailing 6-month period	14.01%	42.10%	-28.09%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	51.92%	-34.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	67.15%	-44.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.25%	66.30%	-44.05%

QQQM vs. TQQQ - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

QQQM vs. TQQQ - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.41%, more than TQQQ's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	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 QQQM and TQQQ in my portfolio?

With a correlation of 1.00, QQQM and TQQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQQM or TQQQ?

TQQQ has higher volatility (24.33%) compared to QQQM (8.01%). In terms of maximum drawdown, QQQM dropped -35.04% vs TQQQ's -81.66%.

Which ETF is better, QQQM or TQQQ?

On 5-year performance, TQQQ leads with 26.58% vs 17.66% for QQQM. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQQM has been the lower-risk option at 8.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or TQQQ?

Over the 5-year period, TQQQ has performed better with a 26.58% return vs 17.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or TQQQ?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.95% for TQQQ.

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

QQQM has the higher dividend yield at 0.41%, compared with 0.37% for TQQQ.

What is the main difference between QQQM and TQQQ?

QQQM is categorized as Nasdaq-100, while TQQQ is Leveraged Equities. QQQM tracks NASDAQ-100 Index, while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.15% for QQQM and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.60 vs 2.43), 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.