RXD vs. SQQQ
RXD (ProShares UltraShort Health Care) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - RXD tracks the DJ Global United States (All) / Health Care -IND (-200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, RXD returned -19.08%/yr vs -55.90%/yr for SQQQ. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
RXD vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a 4.25% return, which is significantly higher than SQQQ's -44.43% return. Over the past 10 years, RXD has outperformed SQQQ with an annualized return of -19.08%, while SQQQ has yielded a comparatively lower -55.90% annualized return.
RXD
- 1D
- -5.76%
- 1M
- -8.56%
- YTD
- 4.25%
- 6M
- 2.28%
- 1Y
- -22.97%
- 3Y*
- -6.72%
- 5Y*
- -7.99%
- 10Y*
- -19.08%
SQQQ
- 1D
- 1.53%
- 1M
- -22.29%
- YTD
- -44.43%
- 6M
- -42.11%
- 1Y
- -64.38%
- 3Y*
- -55.94%
- 5Y*
- -49.01%
- 10Y*
- -55.90%
RXD vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 4.25% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
SQQQ ProShares UltraPro Short QQQ | -44.43% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between RXD and SQQQ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010 | 0.54 |
Over the past year, the correlation between RXD and SQQQ has dropped to 0.18 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
RXD vs. SQQQ — Risk / Return Rank
RXD
SQQQ
RXD vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) 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.
| RXD | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.73 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | -0.98 | +0.31 |
| Martin ratioReturn relative to average drawdown | -1.04 | -1.79 | +0.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RXD | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.77 | -1.35 | +0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | -0.74 | +0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.58 | -0.85 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.65 | -0.88 | +0.22 |
Drawdowns
RXD vs. SQQQ - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.65%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for RXD and SQQQ.
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Drawdown Indicators
| RXD | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.65% | -100.00% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -34.63% | -65.95% | +31.32% |
Max Drawdown (3Y)Largest decline over 3 years | -36.60% | -92.38% | +55.78% |
Max Drawdown (5Y)Largest decline over 5 years | -40.53% | -97.23% | +56.70% |
Max Drawdown (10Y)Largest decline over 10 years | -90.64% | -99.98% | +9.34% |
Current DrawdownCurrent decline from peak | -99.61% | -100.00% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -81.88% | -92.40% | +10.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.14% | 35.96% | -13.82% |
Volatility
RXD vs. SQQQ - Volatility Comparison
The current volatility for ProShares UltraShort Health Care (RXD) is 10.19%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.81%. This indicates that RXD 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.
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Volatility by Period
| RXD | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 13.81% | -3.62% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 36.46% | -14.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.03% | 47.79% | -17.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.85% | 66.61% | -36.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.00% | 66.10% | -33.10% |
RXD vs. SQQQ - Expense Ratio Comparison
Both RXD and SQQQ have an expense ratio of 0.95%.
Dividends
RXD vs. SQQQ - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 2.69%, less than SQQQ's 12.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 2.69% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 12.29% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
RXD 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.
SQQQ has higher volatility (13.81%) compared to RXD (10.19%). In terms of maximum drawdown, RXD dropped -99.65% vs SQQQ's -100.00%.
On 10-year performance, RXD leads with -19.08% vs -55.90% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, RXD has been the lower-risk option at 10.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RXD has performed better with a -19.08% return vs -55.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RXD and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 12.29%, compared with 2.69% for RXD.
RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).
RXD currently has the higher Sharpe Ratio (-0.77 vs -1.35), 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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