QQXL vs. UVXY

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Ultra QQQ Top 30 (QQXL) and ProShares Ultra VIX Short-Term Futures ETF (UVXY).

QQXL and UVXY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQXL is an actively managed fund by ProShares. It was launched on Aug 13, 2025. UVXY is a passively managed fund by ProShares that tracks the performance of the S&P 500 VIX SHORT-TERM FUTURES TR (150%). It was launched on Oct 3, 2011.

Performance

QQXL vs. UVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ Top 30 (QQXL) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). The values are adjusted to include any dividend payments, if applicable.

QQXL vs. UVXY - Yearly Performance Comparison

	2026 (YTD)	2025
QQXL ProShares Ultra QQQ Top 30	-12.08%	8.66%
UVXY ProShares Ultra VIX Short-Term Futures ETF	40.61%	-46.85%

Returns By Period

In the year-to-date period, QQXL achieves a -12.08% return, which is significantly lower than UVXY's 40.61% return.

QQXL

• 1D: 2.82%
• 1M: -7.39%
• YTD: -12.08%
• 6M: -10.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UVXY

• 1D: -3.40%
• 1M: 25.05%
• YTD: 40.61%
• 6M: -2.75%
• 1Y: -57.00%
• 3Y*: -64.84%
• 5Y*: -67.28%
• 10Y*: -72.80%

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

QQXL vs. UVXY - Expense Ratio Comparison

Both QQXL and UVXY have an expense ratio of 0.95%.

QQXL

ProShares Ultra QQQ Top 30

UVXY

ProShares Ultra VIX Short-Term Futures ETF

Return for Risk

QQXL vs. UVXY — Risk / Return Rank

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

UVXY

UVXY Risk / Return Rank: 5
UVXY Sharpe Ratio Rank: 4
UVXY Sortino Ratio Rank: 6
UVXY Omega Ratio Rank: 6
UVXY Calmar Ratio Rank: 2
UVXY Martin Ratio Rank: 6

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.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QQXL	UVXY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.64	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	-0.67	+0.48

Correlation

The correlation between QQXL and UVXY is -0.72. 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

QQXL vs. UVXY - Dividend Comparison

QQXL's dividend yield for the trailing twelve months is around 0.73%, while UVXY has not paid dividends to shareholders.

	TTM	2025
QQXL ProShares Ultra QQQ Top 30	0.73%	0.08%
UVXY ProShares Ultra VIX Short-Term Futures ETF	0.00%	0.00%

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.

Drawdown Indicators

	QQXL	UVXY	Difference
Max Drawdown Largest peak-to-trough decline	-27.34%	-100.00%	+72.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-85.64%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	-19.73%	-100.00%	+80.27%
Average Drawdown Average peak-to-trough decline	-7.69%	-98.53%	+90.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	71.09%	—

Volatility

Volatility by Period

	QQXL	UVXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	45.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	71.80%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.70%	113.07%	-76.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.70%	105.47%	-68.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.70%	114.51%	-77.81%