QQXL vs. UVXY
QQXL (ProShares Ultra QQQ Top 30) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - QQXL is a Leveraged Equities fund actively managed by ProShares, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). QQXL is actively managed, while UVXY is passively managed. At a correlation of -0.65, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
QQXL vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, QQXL achieves a 29.93% return, which is significantly higher than UVXY's -24.94% return.
QQXL
- 1D
- 1.80%
- 1M
- -7.57%
- YTD
- 29.93%
- 6M
- 25.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UVXY
- 1D
- -2.46%
- 1M
- -14.14%
- YTD
- -24.94%
- 6M
- -26.89%
- 1Y
- -71.73%
- 3Y*
- -62.37%
- 5Y*
- -66.99%
- 10Y*
- -73.90%
QQXL vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 29.93% | 9.00% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -24.94% | -47.12% |
Correlation
The correlation between QQXL and UVXY is -0.65, 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 (All Time) Calculated using the full available price history since Aug 15, 2025 | -0.65 |
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Return for Risk
QQXL vs. UVXY — Risk / Return Rank
QQXL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UVXY
QQXL vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) 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.
| QQXL | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.83 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.99 | — |
| Martin ratioReturn relative to average drawdown | — | -1.43 | — |
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Drawdowns
QQXL vs. UVXY - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QQXL and UVXY.
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Drawdown Indicators
| QQXL | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -100.00% | +72.66% |
Max Drawdown (1Y)Largest decline over 1 year | — | -72.74% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -94.91% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -10.07% | -100.00% | +89.93% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -98.75% | +91.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 50.54% | — |
Volatility
QQXL vs. UVXY - Volatility Comparison
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Volatility by Period
| QQXL | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 25.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 66.08% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.52% | 84.93% | -44.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.52% | 103.95% | -63.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.52% | 112.35% | -71.83% |
QQXL vs. UVXY - Expense Ratio Comparison
Both QQXL and UVXY have an expense ratio of 0.95%.
Dividends
QQXL vs. UVXY - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.78%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 0.78% | 0.08% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% |
Frequently Asked Questions
QQXL and UVXY have a correlation of -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
QQXL and UVXY have the same expense ratio: 0.95% per year.
QQXL has the higher dividend yield at 0.78%, compared with 0.00% for UVXY.
QQXL is categorized as Leveraged Equities, while UVXY is Volatility.
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