RXD vs. QLD
RXD (ProShares UltraShort Health Care) and QLD (ProShares Ultra QQQ) are both Leveraged Equities funds from ProShares - RXD tracks the DJ Global United States (All) / Health Care -IND (-200%) while QLD tracks the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, RXD returned -19.52%/yr vs 36.27%/yr for QLD. At a correlation of -0.54, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
RXD vs. QLD - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a 6.18% return, which is significantly lower than QLD's 29.58% return. Over the past 10 years, RXD has underperformed QLD with an annualized return of -19.52%, while QLD has yielded a comparatively higher 36.27% annualized return.
RXD
- 1D
- -1.67%
- 1M
- -1.07%
- YTD
- 6.18%
- 6M
- 7.12%
- 1Y
- -22.47%
- 3Y*
- -5.48%
- 5Y*
- -6.62%
- 10Y*
- -19.52%
QLD
- 1D
- -6.61%
- 1M
- -2.02%
- YTD
- 29.58%
- 6M
- 26.13%
- 1Y
- 66.80%
- 3Y*
- 43.61%
- 5Y*
- 21.41%
- 10Y*
- 36.27%
RXD vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 6.18% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
QLD ProShares Ultra QQQ | 29.58% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between RXD and QLD is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.49 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.54 |
Over the past year, the inverse relationship between RXD and QLD has weakened: their correlation has moved from -0.54 to -0.14, meaning they move in opposite directions less often than they have historically.
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Return for Risk
RXD vs. QLD — Risk / Return Rank
RXD
QLD
RXD vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) and ProShares Ultra QQQ (QLD). 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 | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.31 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 2.67 | -3.32 |
| Martin ratioReturn relative to average drawdown | -0.98 | 9.05 | -10.03 |
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Drawdowns
RXD vs. QLD - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.65%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for RXD and QLD.
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Drawdown Indicators
| RXD | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.65% | -83.13% | -16.52% |
Max Drawdown (1Y)Largest decline over 1 year | -34.63% | -25.13% | -9.50% |
Max Drawdown (3Y)Largest decline over 3 years | -36.60% | -42.29% | +5.69% |
Max Drawdown (5Y)Largest decline over 5 years | -40.50% | -63.68% | +23.18% |
Max Drawdown (10Y)Largest decline over 10 years | -90.64% | -63.68% | -26.96% |
Current DrawdownCurrent decline from peak | -99.61% | -9.26% | -90.35% |
Average DrawdownAverage peak-to-trough decline | -81.90% | -18.14% | -63.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.89% | 7.40% | +15.49% |
Volatility
RXD vs. QLD - Volatility Comparison
The current volatility for ProShares UltraShort Health Care (RXD) is 10.29%, while ProShares Ultra QQQ (QLD) has a volatility of 18.22%. This indicates that RXD experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RXD | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 18.22% | -7.93% |
Volatility (6M)Calculated over the trailing 6-month period | 21.53% | 28.95% | -7.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.19% | 35.77% | -5.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.86% | 45.34% | -15.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.02% | 44.80% | -11.78% |
RXD vs. QLD - Expense Ratio Comparison
Both RXD and QLD have an expense ratio of 0.95%.
Dividends
RXD vs. QLD - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 2.64%, more than QLD's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
RXD ProShares UltraShort Health Care | 2.64% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RXD and QLD have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (18.22%) compared to RXD (10.29%). In terms of maximum drawdown, RXD dropped -99.65% vs QLD's -83.13%.
On 10-year performance, QLD leads with 36.27% vs -19.52% for RXD. Both ETFs have the same 0.95% expense ratio. On volatility, RXD has been the lower-risk option at 10.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 36.27% return vs -19.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RXD and QLD have the same expense ratio: 0.95% per year.
RXD has the higher dividend yield at 2.64%, compared with 0.13% for QLD.
RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while QLD tracks NASDAQ-100 Index (200%).
QLD currently has the higher Sharpe Ratio (1.88 vs -0.75), 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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