QQUP vs. INTW

Last updated Jun 24, 2026

QQUP (ProShares Ultra Top QQQ) and INTW (GraniteShares 2x Long INTC Daily ETF) are both Leveraged Equities funds. QQUP is passively managed, while INTW is actively managed. Over the past year, QQUP returned 38.57% vs 1964.55% for INTW. At a 0.35 correlation, their price movements are largely independent. QQUP charges 0.95%/yr vs 1.50%/yr for INTW.

Performance

QQUP vs. INTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Top QQQ (QQUP) and GraniteShares 2x Long INTC Daily ETF (INTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQUP achieves a -3.91% return, which is significantly lower than INTW's 750.22% return.

QQUP

• 1D: -3.22%
• 1M: -16.85%
• YTD: -3.91%
• 6M: -6.57%
• 1Y: 38.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

INTW

• 1D: -12.49%
• 1M: 12.21%
• YTD: 750.22%
• 6M: 775.58%
• 1Y: 1,964.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQUP vs. INTW - Yearly Performance Comparison

	2026 (YTD)	2025
QQUP ProShares Ultra Top QQQ	-3.91%	45.33%
INTW GraniteShares 2x Long INTC Daily ETF	750.22%	151.90%

Correlation

The correlation between QQUP and INTW is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.35

Return for Risk

QQUP vs. INTW — Risk / Return Rank

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

QQUP

QQUP Risk / Return Rank: 26
QQUP Sharpe Ratio Rank: 28
QQUP Sortino Ratio Rank: 28
QQUP Omega Ratio Rank: 27
QQUP Calmar Ratio Rank: 23
QQUP Martin Ratio Rank: 23

INTW

INTW Risk / Return Rank: 98
INTW Sharpe Ratio Rank: 100
INTW Sortino Ratio Rank: 96
INTW Omega Ratio Rank: 94
INTW Calmar Ratio Rank: 99
INTW Martin Ratio Rank: 99

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.

QQUP vs. INTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Top QQQ (QQUP) and GraniteShares 2x Long INTC Daily ETF (INTW). 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.

	QQUP	INTW	Difference
Sharpe ratio: Return per unit of total volatility	0.97	13.25	-12.28
Sortino ratio: Return per unit of downside risk	1.46	5.13	-3.67
Omega ratio: Gain probability vs. loss probability	1.18	1.65	-0.47
Calmar ratio: Return relative to maximum drawdown	1.03	40.32	-39.29
Martin ratio: Return relative to average drawdown	2.87	91.49	-88.62

QQUP vs. INTW - Sharpe Ratio Comparison

The current QQUP Sharpe Ratio is 0.97, which is lower than the INTW Sharpe Ratio of 13.25. The chart below compares the historical Sharpe Ratios of QQUP and INTW, 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

QQUP vs. INTW - Drawdown Comparison

The maximum QQUP drawdown since its inception was -37.67%, smaller than the maximum INTW drawdown of -60.58%. Use the drawdown chart below to compare losses from any high point for QQUP and INTW.

Drawdown Indicators

	QQUP	INTW	Difference
Max Drawdown Largest peak-to-trough decline	-37.67%	-60.58%	+22.91%
Max Drawdown (1Y) Largest decline over 1 year	-37.67%	-49.34%	+11.67%
Current Drawdown Current decline from peak	-21.46%	-12.49%	-8.97%
Average Drawdown Average peak-to-trough decline	-9.48%	-29.66%	+20.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.45%	21.70%	-8.25%

Volatility

QQUP vs. INTW - Volatility Comparison

The current volatility for ProShares Ultra Top QQQ (QQUP) is 14.01%, while GraniteShares 2x Long INTC Daily ETF (INTW) has a volatility of 55.81%. This indicates that QQUP experiences smaller price fluctuations and is considered to be less risky than INTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQUP	INTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.01%	55.81%	-41.80%
Volatility (6M) Calculated over the trailing 6-month period	30.62%	119.10%	-88.48%
Volatility (1Y) Calculated over the trailing 1-year period	40.03%	150.14%	-110.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.79%	148.88%	-109.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.79%	148.88%	-109.09%

QQUP vs. INTW - Expense Ratio Comparison

QQUP has a 0.95% expense ratio, which is lower than INTW's 1.50% expense ratio.

Dividends

QQUP vs. INTW - Dividend Comparison

QQUP's dividend yield for the trailing twelve months is around 0.50%, while INTW has not paid dividends to shareholders.

Position	TTM	2025
INTW GraniteShares 2x Long INTC Daily ETF	0.00%	0.00%
QQUP ProShares Ultra Top QQQ	0.50%	0.29%

Frequently Asked Questions

Can I hold both QQUP and INTW in my portfolio?

QQUP and INTW have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQUP or INTW?

INTW has higher volatility (55.81%) compared to QQUP (14.01%). In terms of maximum drawdown, QQUP dropped -37.67% vs INTW's -60.58%.

Which ETF is better, QQUP or INTW?

On 1-year performance, INTW leads with 1964.55% vs 38.57% for QQUP. On fees, QQUP is cheaper at 0.95% per year. On volatility, QQUP has been the lower-risk option at 14.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQUP or INTW?

Over the 1-year period, INTW has performed better with a 1964.55% return vs 38.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQUP or INTW?

QQUP is cheaper with a 0.95% expense ratio, compared with 1.50% for INTW.

Which ETF pays a higher dividend yield, QQUP or INTW?

QQUP has the higher dividend yield at 0.50%, compared with 0.00% for INTW.

What is the main difference between QQUP and INTW?

They also come from different issuers: ProShares and GraniteShares. Their fees differ too: 0.95% for QQUP and 1.50% for INTW.

Which has better risk-adjusted returns?

INTW currently has the higher Sharpe Ratio (13.25 vs 0.97), 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.