RXD vs. IQQQ

Last updated Jul 17, 2026

RXD (ProShares UltraShort Health Care) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - RXD is a Leveraged Equities fund tracking the DJ Global United States (All) / Health Care -IND (-200%), while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, RXD returned -31.61% vs 24.13% for IQQQ. At a correlation of -0.21, they often move in opposite directions. RXD charges 0.95%/yr vs 0.55%/yr for IQQQ.

Performance

RXD vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Health Care (RXD) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RXD achieves a -9.19% return, which is significantly lower than IQQQ's 12.64% return.

RXD

• 1D: -4.64%
• 1M: -12.05%
• 6M: -7.00%
• YTD: -9.19%
• 1Y: -31.61%
• 3Y*: -10.78%
• 5Y*: -8.36%
• 10Y*: -19.81%

IQQQ

• 1D: -1.64%
• 1M: -3.09%
• 6M: 11.42%
• YTD: 12.64%
• 1Y: 24.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RXD vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RXD ProShares UltraShort Health Care	-9.19%	-21.66%	18.10%
IQQQ ProShares Nasdaq-100 High Income ETF	12.64%	17.11%	14.82%

Correlation

The correlation between RXD and IQQQ is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	-0.21

The correlation between RXD and IQQQ shifts across timeframes, from -0.21 (all time) to -0.06 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RXD vs. IQQQ — Risk / Return Rank

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

RXD

RXD Risk / Return Rank: 2
RXD Sharpe Ratio Rank: 2
RXD Sortino Ratio Rank: 2
RXD Omega Ratio Rank: 2
RXD Calmar Ratio Rank: 2
RXD Martin Ratio Rank: 3

IQQQ

IQQQ Risk / Return Rank: 48
IQQQ Sharpe Ratio Rank: 48
IQQQ Sortino Ratio Rank: 44
IQQQ Omega Ratio Rank: 44
IQQQ Calmar Ratio Rank: 53
IQQQ Martin Ratio Rank: 52

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.

RXD vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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.

	RXD	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	1.37	-2.38
Sortino ratio: Return per unit of downside risk	-1.33	1.85	-3.18
Omega ratio: Gain probability vs. loss probability	0.84	1.24	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.82	2.18	-3.00
Martin ratio: Return relative to average drawdown	-1.29	7.13	-8.41

RXD vs. IQQQ - Sharpe Ratio Comparison

The current RXD Sharpe Ratio is -1.01, which is lower than the IQQQ Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of RXD and IQQQ, 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

RXD vs. IQQQ - Drawdown Comparison

The maximum RXD drawdown since its inception was -99.67%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for RXD and IQQQ.

Drawdown Indicators

	RXD	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.67%	-20.41%	-79.26%
Max Drawdown (1Y) Largest decline over 1 year	-38.77%	-11.13%	-27.64%
Max Drawdown (3Y) Largest decline over 3 years	-40.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-91.23%	—	—
Current Drawdown Current decline from peak	-99.66%	-5.41%	-94.25%
Average Drawdown Average peak-to-trough decline	-81.96%	-3.63%	-78.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.61%	3.39%	+21.22%

Volatility

RXD vs. IQQQ - Volatility Comparison

ProShares UltraShort Health Care (RXD) has a higher volatility of 12.04% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 7.12%. This indicates that RXD's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RXD	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.04%	7.12%	+4.92%
Volatility (6M) Calculated over the trailing 6-month period	23.68%	14.46%	+9.22%
Volatility (1Y) Calculated over the trailing 1-year period	31.49%	17.70%	+13.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.25%	19.16%	+11.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.07%	19.16%	+13.91%

RXD vs. IQQQ - Expense Ratio Comparison

RXD has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

RXD vs. IQQQ - Dividend Comparison

RXD's dividend yield for the trailing twelve months is around 3.27%, less than IQQQ's 5.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IQQQ ProShares Nasdaq-100 High Income ETF	5.30%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RXD ProShares UltraShort Health Care	3.27%	3.29%	4.36%	3.17%	0.67%	0.00%	0.17%	1.73%	0.22%

Frequently Asked Questions

Can I hold both RXD and IQQQ in my portfolio?

RXD and IQQQ have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RXD or IQQQ?

RXD has higher volatility (12.04%) compared to IQQQ (7.12%). In terms of maximum drawdown, RXD dropped -99.67% vs IQQQ's -20.41%.

Which ETF is better, RXD or IQQQ?

On 1-year performance, IQQQ leads with 24.13% vs -31.61% for RXD. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 7.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RXD or IQQQ?

Over the 1-year period, IQQQ has performed better with a 24.13% return vs -31.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RXD or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for RXD.

Which ETF pays a higher dividend yield, RXD or IQQQ?

IQQQ has the higher dividend yield at 5.30%, compared with 3.27% for RXD.

What is the main difference between RXD and IQQQ?

RXD is categorized as Leveraged Equities, while IQQQ is Nasdaq-100. RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for RXD and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.37 vs -1.01), 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.