REGL vs. SQQQ

Last updated Jul 15, 2026

REGL (ProShares S&P MidCap 400 Dividend Aristocrats ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - REGL is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Dividend Aristocrats Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, REGL returned 9.34%/yr vs -55.43%/yr for SQQQ. At a correlation of -0.49, they often move in opposite directions. REGL charges 0.40%/yr vs 0.95%/yr for SQQQ.

Performance

REGL vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, REGL achieves a 10.33% return, which is significantly higher than SQQQ's -42.24% return. Over the past 10 years, REGL has outperformed SQQQ with an annualized return of 9.34%, while SQQQ has yielded a comparatively lower -55.43% annualized return.

REGL

• 1D: -0.28%
• 1M: 1.99%
• 6M: 6.64%
• YTD: 10.33%
• 1Y: 12.11%
• 3Y*: 11.87%
• 5Y*: 7.77%
• 10Y*: 9.34%

SQQQ

• 1D: -3.30%
• 1M: -1.98%
• 6M: -38.99%
• YTD: -42.24%
• 1Y: -57.13%
• 3Y*: -52.32%
• 5Y*: -46.24%
• 10Y*: -55.43%

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

REGL vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	10.33%	6.89%	12.26%	5.41%	-0.62%	20.38%	7.50%	18.79%	-3.25%	10.17%
SQQQ ProShares UltraPro Short QQQ	-42.24%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-58.67%

Correlation

The correlation between REGL and SQQQ is -0.18, 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 (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.34
Correlation (5Y) Calculated over the trailing 5-year period	-0.47
Correlation (10Y) Calculated over the trailing 10-year period	-0.48
Correlation (All Time) Calculated using the full available price history since Feb 5, 2015	-0.49

Over the past year, the inverse relationship between REGL and SQQQ has weakened: their correlation has moved from -0.49 to -0.18, meaning they move in opposite directions less often than they have historically.

REGL vs. SQQQ - Sectors Allocation Comparison

Sectors	REGL	SQQQ
Financial Services	31.0%	109.1%
Industrials	15.2%	-
Utilities	13.7%	-
Consumer Cyclical	10.7%	-
Basic Materials	9.2%	-
Real Estate	7.8%	-
Healthcare	4.6%	-
Energy	3.1%	-
Consumer Defensive	2.8%	-
Technology	1.9%	-
Communication Services	-	-

Return for Risk

REGL vs. SQQQ — Risk / Return Rank

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

REGL

REGL Risk / Return Rank: 31
REGL Sharpe Ratio Rank: 31
REGL Sortino Ratio Rank: 32
REGL Omega Ratio Rank: 28
REGL Calmar Ratio Rank: 30
REGL Martin Ratio Rank: 32

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 0

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.

REGL vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) 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.

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.

	REGL	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.93	-1.03	+1.96
Sortino ratio: Return per unit of downside risk	1.44	-1.74	+3.19
Omega ratio: Gain probability vs. loss probability	1.16	0.81	+0.35
Calmar ratio: Return relative to maximum drawdown	1.26	-0.94	+2.20
Martin ratio: Return relative to average drawdown	3.91	-1.73	+5.64

REGL vs. SQQQ - Sharpe Ratio Comparison

The current REGL Sharpe Ratio is 0.93, which is higher than the SQQQ Sharpe Ratio of -1.03. The chart below compares the historical Sharpe Ratios of REGL and SQQQ, 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

REGL vs. SQQQ - Drawdown Comparison

The maximum REGL drawdown since its inception was -36.37%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for REGL and SQQQ.

Drawdown Indicators

	REGL	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-36.37%	-100.00%	+63.63%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-61.03%	+51.36%
Max Drawdown (3Y) Largest decline over 3 years	-16.96%	-92.51%	+75.55%
Max Drawdown (5Y) Largest decline over 5 years	-16.96%	-97.27%	+80.31%
Max Drawdown (10Y) Largest decline over 10 years	-36.37%	-99.97%	+63.60%
Current Drawdown Current decline from peak	-0.70%	-100.00%	+99.30%
Average Drawdown Average peak-to-trough decline	-4.06%	-92.75%	+88.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	32.98%	-29.87%

Volatility

REGL vs. SQQQ - Volatility Comparison

The current volatility for ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) is 3.43%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 24.18%. This indicates that REGL experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REGL	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	24.18%	-20.75%
Volatility (6M) Calculated over the trailing 6-month period	9.32%	45.91%	-36.59%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	55.61%	-42.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	67.89%	-51.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	66.57%	-48.28%

REGL vs. SQQQ - Expense Ratio Comparison

REGL has a 0.40% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

REGL vs. SQQQ - Dividend Comparison

REGL's dividend yield for the trailing twelve months is around 2.21%, less than SQQQ's 10.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	2.21%	2.32%	2.28%	2.40%	2.32%	2.50%	2.41%	1.96%	2.09%	1.63%	1.20%	1.66%
SQQQ ProShares UltraPro Short QQQ	10.34%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both REGL and SQQQ in my portfolio?

REGL and SQQQ have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, REGL or SQQQ?

SQQQ has higher volatility (24.18%) compared to REGL (3.43%). In terms of maximum drawdown, REGL dropped -36.37% vs SQQQ's -100.00%.

Which ETF is better, REGL or SQQQ?

On 10-year performance, REGL leads with 9.34% vs -55.43% for SQQQ. On fees, REGL is cheaper at 0.40% per year. On volatility, REGL has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, REGL or SQQQ?

Over the 10-year period, REGL has performed better with a 9.34% return vs -55.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, REGL or SQQQ?

REGL is cheaper with a 0.40% expense ratio, compared with 0.95% for SQQQ.

Which ETF pays a higher dividend yield, REGL or SQQQ?

SQQQ has the higher dividend yield at 10.34%, compared with 2.21% for REGL.

What is the main difference between REGL and SQQQ?

REGL is categorized as Mid Cap Value Equities, while SQQQ is Leveraged Equities. REGL tracks S&P MidCap 400 Dividend Aristocrats Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.40% for REGL and 0.95% for SQQQ.

Which has better risk-adjusted returns?

REGL currently has the higher Sharpe Ratio (0.93 vs -1.03), 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.