QQQP vs. UST

Last updated Jun 3, 2026

QQQP (Tradr 2X Long Triple Q Quarterly ETF) and UST (ProShares Ultra 7-10 Year Treasury) are both exchange-traded funds - QQQP is a Leveraged Equities fund actively managed by Tradr, while UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%). QQQP is actively managed, while UST is passively managed. Over the past year, QQQP returned 77.97% vs 4.06% for UST. At a 0.02 correlation, their price movements are largely independent. QQQP charges 1.30%/yr vs 0.95%/yr for UST.

Performance

QQQP vs. UST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long Triple Q Quarterly ETF (QQQP) and ProShares Ultra 7-10 Year Treasury (UST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQP achieves a 36.32% return, which is significantly higher than UST's -2.33% return.

QQQP

• 1D: 0.84%
• 1M: 18.29%
• YTD: 36.32%
• 6M: 32.45%
• 1Y: 77.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UST

• 1D: 0.17%
• 1M: -0.70%
• YTD: -2.33%
• 6M: -3.40%
• 1Y: 4.06%
• 3Y*: -0.32%
• 5Y*: -6.44%
• 10Y*: -2.07%

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

QQQP vs. UST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQP Tradr 2X Long Triple Q Quarterly ETF	36.32%	30.21%	10.88%
UST ProShares Ultra 7-10 Year Treasury	-2.33%	10.26%	-10.14%

Correlation

The correlation between QQQP and UST is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 2, 2024	0.02

The correlation between QQQP and UST shifts across timeframes, from 0.02 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QQQP vs. UST — Risk / Return Rank

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

QQQP

QQQP Risk / Return Rank: 64
QQQP Sharpe Ratio Rank: 73
QQQP Sortino Ratio Rank: 62
QQQP Omega Ratio Rank: 61
QQQP Calmar Ratio Rank: 62
QQQP Martin Ratio Rank: 63

UST

UST Risk / Return Rank: 14
UST Sharpe Ratio Rank: 15
UST Sortino Ratio Rank: 15
UST Omega Ratio Rank: 14
UST Calmar Ratio Rank: 13
UST Martin Ratio Rank: 14

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.

QQQP vs. UST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long Triple Q Quarterly ETF (QQQP) and ProShares Ultra 7-10 Year Treasury (UST). 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.

	QQQP	UST	Difference
Sharpe ratio Return per unit of total volatility	2.45	0.43	+2.02
Sortino ratio Return per unit of downside risk	2.94	0.68	+2.26
Omega ratio Gain probability vs. loss probability	1.38	1.08	+0.30
Calmar ratio Return relative to maximum drawdown	3.17	0.41	+2.76
Martin ratio Return relative to average drawdown	11.62	1.20	+10.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQP vs. UST - Sharpe Ratio Comparison

The current QQQP Sharpe Ratio is 2.45, which is higher than the UST Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of QQQP and UST, 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

	QQQP	UST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	0.43	+2.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.42	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	0.20	+0.96

Drawdowns

QQQP vs. UST - Drawdown Comparison

The maximum QQQP drawdown since its inception was -42.50%, smaller than the maximum UST drawdown of -47.99%. Use the drawdown chart below to compare losses from any high point for QQQP and UST.

Drawdown Indicators

	QQQP	UST	Difference
Max Drawdown Largest peak-to-trough decline	-42.50%	-47.99%	+5.49%
Max Drawdown (1Y) Largest decline over 1 year	-25.35%	-8.75%	-16.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.99%	—
Current Drawdown Current decline from peak	0.00%	-37.98%	+37.98%
Average Drawdown Average peak-to-trough decline	-7.35%	-15.12%	+7.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.92%	3.00%	+3.92%

Volatility

QQQP vs. UST - Volatility Comparison

Tradr 2X Long Triple Q Quarterly ETF (QQQP) has a higher volatility of 8.99% compared to ProShares Ultra 7-10 Year Treasury (UST) at 3.14%. This indicates that QQQP's price experiences larger fluctuations and is considered to be riskier than UST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQP	UST	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.99%	3.14%	+5.85%
Volatility (6M) Calculated over the trailing 6-month period	24.63%	6.65%	+17.98%
Volatility (1Y) Calculated over the trailing 1-year period	32.06%	9.49%	+22.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.85%	15.47%	+28.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.85%	13.18%	+30.67%

QQQP vs. UST - Expense Ratio Comparison

QQQP has a 1.30% expense ratio, which is higher than UST's 0.95% expense ratio.

Dividends

QQQP vs. UST - Dividend Comparison

QQQP has not paid dividends to shareholders, while UST's dividend yield for the trailing twelve months is around 3.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQP Tradr 2X Long Triple Q Quarterly ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UST ProShares Ultra 7-10 Year Treasury	3.47%	3.65%	4.09%	3.49%	0.47%	0.27%	0.53%	1.42%	1.71%	0.84%	0.64%	0.75%

Frequently Asked Questions

Can I hold both QQQP and UST in my portfolio?

QQQP and UST have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQP or UST?

QQQP has higher volatility (8.99%) compared to UST (3.14%). In terms of maximum drawdown, QQQP dropped -42.50% vs UST's -47.99%.

Which ETF is better, QQQP or UST?

On 1-year performance, QQQP leads with 77.97% vs 4.06% for UST. On fees, UST is cheaper at 0.95% per year. On volatility, UST has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQP or UST?

Over the 1-year period, QQQP has performed better with a 77.97% return vs 4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQP or UST?

UST is cheaper with a 0.95% expense ratio, compared with 1.30% for QQQP.

Which ETF pays a higher dividend yield, QQQP or UST?

UST has the higher dividend yield at 3.47%, compared with 0.00% for QQQP.

What is the main difference between QQQP and UST?

QQQP is categorized as Leveraged Equities, while UST is Leveraged Bonds. They also come from different issuers: Tradr and ProShares. Their fees differ too: 1.30% for QQQP and 0.95% for UST.

Which has better risk-adjusted returns?

QQQP currently has the higher Sharpe Ratio (2.45 vs 0.43), 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.