QQUP vs. SQQQ
Compare and contrast key facts about ProShares Ultra Top QQQ (QQUP) and ProShares UltraPro Short QQQ (SQQQ).
QQUP and SQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQUP is a passively managed fund by ProShares that tracks the performance of the Nasdaq-100 Mega Index (200%). It was launched on Jun 10, 2025. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. Both QQUP and SQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QQUP vs. SQQQ - Performance Comparison
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QQUP vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQUP ProShares Ultra Top QQQ | -21.45% | 44.45% |
SQQQ ProShares UltraPro Short QQQ | 13.99% | -34.26% |
Returns By Period
In the year-to-date period, QQUP achieves a -21.45% return, which is significantly lower than SQQQ's 13.99% return.
QQUP
- 1D
- 2.59%
- 1M
- -8.10%
- YTD
- -21.45%
- 6M
- -20.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ
- 1D
- -3.78%
- 1M
- 10.61%
- YTD
- 13.99%
- 6M
- 6.42%
- 1Y
- -56.13%
- 3Y*
- -49.39%
- 5Y*
- -42.70%
- 10Y*
- -52.71%
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QQUP vs. SQQQ - Expense Ratio Comparison
Both QQUP and SQQQ have an expense ratio of 0.95%.
Return for Risk
QQUP vs. SQQQ — Risk / Return Rank
QQUP
SQQQ
QQUP vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Top QQQ (QQUP) and ProShares UltraPro Short QQQ (SQQQ). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| QQUP | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.84 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.64 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | -0.85 | +1.29 |
Correlation
The correlation between QQUP and SQQQ is -0.90. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
QQUP vs. SQQQ - Dividend Comparison
QQUP's dividend yield for the trailing twelve months is around 0.61%, less than SQQQ's 5.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQUP ProShares Ultra Top QQQ | 0.61% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 5.99% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Drawdowns
QQUP vs. SQQQ - Drawdown Comparison
The maximum QQUP drawdown since its inception was -37.67%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QQUP and SQQQ.
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Drawdown Indicators
| QQUP | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.67% | -100.00% | +62.33% |
Max Drawdown (1Y)Largest decline over 1 year | — | -75.23% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -95.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.96% | — |
Current DrawdownCurrent decline from peak | -30.55% | -100.00% | +69.45% |
Average DrawdownAverage peak-to-trough decline | -9.16% | -92.32% | +83.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 65.40% | — |
Volatility
QQUP vs. SQQQ - Volatility Comparison
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Volatility by Period
| QQUP | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 19.98% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 38.23% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 38.72% | 67.38% | -28.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.72% | 66.65% | -27.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.72% | 65.97% | -27.25% |