SBIT vs. SQQQ

Last updated Jun 24, 2026

SBIT (Proshares Ultrashort Bitcoin ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past year, SBIT returned 71.04% vs -61.11% for SQQQ. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

SBIT vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultrashort Bitcoin ETF (SBIT) 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, SBIT achieves a 45.97% return, which is significantly higher than SQQQ's -40.31% return.

SBIT

• 1D: 6.59%
• 1M: 41.04%
• YTD: 45.97%
• 6M: 46.69%
• 1Y: 71.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SQQQ

• 1D: 9.83%
• 1M: -2.27%
• YTD: -40.31%
• 6M: -37.80%
• 1Y: -61.11%
• 3Y*: -53.86%
• 5Y*: -46.89%
• 10Y*: -56.24%

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

SBIT vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	45.97%	-25.11%	-73.74%
SQQQ ProShares UltraPro Short QQQ	-40.31%	-53.05%	-36.09%

Correlation

The correlation between SBIT and SQQQ is 0.50, 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	0.50
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.44

The correlation between SBIT and SQQQ has been stable across timeframes, ranging from 0.44 to 0.50 - a consistent structural relationship.

Return for Risk

SBIT vs. SQQQ — Risk / Return Rank

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

SBIT

SBIT Risk / Return Rank: 28
SBIT Sharpe Ratio Rank: 24
SBIT Sortino Ratio Rank: 31
SBIT Omega Ratio Rank: 29
SBIT Calmar Ratio Rank: 31
SBIT Martin Ratio Rank: 25

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 0
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.

SBIT vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) 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.

	SBIT	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.81	-1.14	+1.95
Sortino ratio: Return per unit of downside risk	1.56	-2.07	+3.64
Omega ratio: Gain probability vs. loss probability	1.19	0.78	+0.41
Calmar ratio: Return relative to maximum drawdown	1.49	-0.96	+2.45
Martin ratio: Return relative to average drawdown	3.11	-1.81	+4.92

SBIT vs. SQQQ - Sharpe Ratio Comparison

The current SBIT Sharpe Ratio is 0.81, which is higher than the SQQQ Sharpe Ratio of -1.14. The chart below compares the historical Sharpe Ratios of SBIT 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

SBIT vs. SQQQ - Drawdown Comparison

The maximum SBIT drawdown since its inception was -91.35%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SBIT and SQQQ.

Drawdown Indicators

	SBIT	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-100.00%	+8.65%
Max Drawdown (1Y) Largest decline over 1 year	-47.94%	-63.52%	+15.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-92.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.98%	—
Current Drawdown Current decline from peak	-76.84%	-100.00%	+23.16%
Average Drawdown Average peak-to-trough decline	-68.66%	-92.73%	+24.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.93%	36.37%	-12.44%

Volatility

SBIT vs. SQQQ - Volatility Comparison

Proshares Ultrashort Bitcoin ETF (SBIT) and ProShares UltraPro Short QQQ (SQQQ) have volatilities of 26.11% and 26.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBIT	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.11%	26.69%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	68.77%	43.33%	+25.44%
Volatility (1Y) Calculated over the trailing 1-year period	88.37%	53.65%	+34.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.39%	67.53%	+29.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.39%	66.47%	+30.92%

SBIT vs. SQQQ - Expense Ratio Comparison

Both SBIT and SQQQ have an expense ratio of 0.95%.

Dividends

SBIT vs. SQQQ - Dividend Comparison

SBIT's dividend yield for the trailing twelve months is around 3.21%, less than SQQQ's 11.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBIT Proshares Ultrashort Bitcoin ETF	3.21%	0.52%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SQQQ ProShares UltraPro Short QQQ	11.44%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both SBIT and SQQQ in my portfolio?

SBIT and SQQQ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBIT or SQQQ?

SQQQ has higher volatility (26.69%) compared to SBIT (26.11%). In terms of maximum drawdown, SBIT dropped -91.35% vs SQQQ's -100.00%.

Which ETF is better, SBIT or SQQQ?

On 1-year performance, SBIT leads with 71.04% vs -61.11% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SBIT has been the lower-risk option at 26.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBIT or SQQQ?

Over the 1-year period, SBIT has performed better with a 71.04% return vs -61.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIT or SQQQ?

SBIT and SQQQ have the same expense ratio: 0.95% per year.

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

SQQQ has the higher dividend yield at 11.44%, compared with 3.21% for SBIT.

What is the main difference between SBIT and SQQQ?

SBIT is categorized as Cryptocurrency, while SQQQ is Leveraged Equities. SBIT tracks Bloomberg Bitcoin Index (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (0.81 vs -1.14), 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.