QULL vs. ROM
QULL (ETRACS 2x Leveraged MSCI US Quality Factor TR ETN) and ROM (ProShares Ultra Technology) are both Leveraged Equities funds - QULL tracks the MSCI USA Sector Neutral Quality Index while ROM tracks the Dow Jones U.S. Technology Index (200%). Both are passively managed. Over the past 5 years, QULL returned 17.03%/yr vs 29.24%/yr for ROM. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.
Performance
QULL vs. ROM - Performance Comparison
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Returns By Period
In the year-to-date period, QULL achieves a 18.41% return, which is significantly lower than ROM's 67.66% return.
QULL
- 1D
- 2.19%
- 1M
- 7.87%
- YTD
- 18.41%
- 6M
- 17.51%
- 1Y
- 44.24%
- 3Y*
- 31.36%
- 5Y*
- 17.03%
- 10Y*
- —
ROM
- 1D
- 7.62%
- 1M
- 16.55%
- YTD
- 67.66%
- 6M
- 71.14%
- 1Y
- 133.22%
- 3Y*
- 52.64%
- 5Y*
- 29.24%
- 10Y*
- 42.53%
QULL vs. ROM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 18.41% | 17.61% | 38.03% | 57.07% | -42.00% | 51.36% |
ROM ProShares Ultra Technology | 67.66% | 35.63% | 31.65% | 130.70% | -63.86% | 58.01% |
Correlation
The correlation between QULL and ROM is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.87 |
The correlation between QULL and ROM shifts across timeframes, from 0.74 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
QULL vs. ROM — Risk / Return Rank
QULL
ROM
QULL vs. ROM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) and ProShares Ultra Technology (ROM). 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.
| QULL | ROM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.41 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 4.15 | -1.73 |
| Martin ratioReturn relative to average drawdown | 10.73 | 12.28 | -1.56 |
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Drawdowns
QULL vs. ROM - Drawdown Comparison
The maximum QULL drawdown since its inception was -51.83%, smaller than the maximum ROM drawdown of -83.36%. Use the drawdown chart below to compare losses from any high point for QULL and ROM.
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Drawdown Indicators
| QULL | ROM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.83% | -83.36% | +31.53% |
Max Drawdown (1Y)Largest decline over 1 year | -18.43% | -32.33% | +13.90% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -48.10% | +11.28% |
Max Drawdown (5Y)Largest decline over 5 years | -51.83% | -67.55% | +15.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -67.55% | — |
Current DrawdownCurrent decline from peak | 0.00% | -7.56% | +7.56% |
Average DrawdownAverage peak-to-trough decline | -13.97% | -20.86% | +6.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.14% | 10.89% | -6.75% |
Volatility
QULL vs. ROM - Volatility Comparison
The current volatility for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) is 5.94%, while ProShares Ultra Technology (ROM) has a volatility of 23.16%. This indicates that QULL experiences smaller price fluctuations and is considered to be less risky than ROM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QULL | ROM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 23.16% | -17.22% |
Volatility (6M)Calculated over the trailing 6-month period | 19.16% | 38.71% | -19.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.58% | 45.83% | -21.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.66% | 52.28% | -16.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.08% | 50.18% | -15.10% |
QULL vs. ROM - Expense Ratio Comparison
Both QULL and ROM have an expense ratio of 0.95%.
Dividends
QULL vs. ROM - Dividend Comparison
QULL has not paid dividends to shareholders, while ROM's dividend yield for the trailing twelve months is around 0.15%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ROM ProShares Ultra Technology | 0.15% | 0.24% | 0.21% | 0.01% | 0.00% | 0.00% | 0.05% | 0.16% | 0.30% | 0.08% | 0.20% | 0.12% |
Frequently Asked Questions
QULL and ROM have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ROM has higher volatility (23.16%) compared to QULL (5.94%). In terms of maximum drawdown, QULL dropped -51.83% vs ROM's -83.36%.
On 5-year performance, ROM leads with 29.24% vs 17.03% for QULL. Both ETFs have the same 0.95% expense ratio. On volatility, QULL has been the lower-risk option at 5.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ROM has performed better with a 29.24% return vs 17.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QULL and ROM have the same expense ratio: 0.95% per year.
ROM has the higher dividend yield at 0.15%, compared with 0.00% for QULL.
QULL tracks MSCI USA Sector Neutral Quality Index, while ROM tracks Dow Jones U.S. Technology Index (200%). They also come from different issuers: UBS and ProShares.
ROM currently has the higher Sharpe Ratio (2.93 vs 1.81), 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.
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