SBIT vs. TQQQ

Last updated Jun 24, 2026

SBIT (Proshares Ultrashort Bitcoin ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past year, SBIT returned 71.04% vs 100.69% for TQQQ. At a correlation of -0.44, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

SBIT vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultrashort Bitcoin ETF (SBIT) and ProShares UltraPro QQQ (TQQQ). 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 TQQQ's 41.43% return.

SBIT

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

TQQQ

• 1D: -9.86%
• 1M: -4.37%
• YTD: 41.43%
• 6M: 35.75%
• 1Y: 100.69%
• 3Y*: 58.02%
• 5Y*: 21.47%
• 10Y*: 45.48%

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

SBIT vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	45.97%	-25.11%	-73.74%
TQQQ ProShares UltraPro QQQ	41.43%	34.35%	29.08%

Correlation

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

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

Return for Risk

SBIT vs. TQQQ — 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

TQQQ

TQQQ Risk / Return Rank: 53
TQQQ Sharpe Ratio Rank: 58
TQQQ Sortino Ratio Rank: 47
TQQQ Omega Ratio Rank: 49
TQQQ Calmar Ratio Rank: 57
TQQQ 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.

SBIT vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and ProShares UltraPro QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.90	-1.09
Sortino ratio: Return per unit of downside risk	1.56	2.27	-0.71
Omega ratio: Gain probability vs. loss probability	1.19	1.30	-0.12
Calmar ratio: Return relative to maximum drawdown	1.49	2.74	-1.25
Martin ratio: Return relative to average drawdown	3.11	8.72	-5.61

SBIT vs. TQQQ - Sharpe Ratio Comparison

The current SBIT Sharpe Ratio is 0.81, which is lower than the TQQQ Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SBIT and TQQQ, 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. TQQQ - Drawdown Comparison

The maximum SBIT drawdown since its inception was -91.35%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SBIT and TQQQ.

Drawdown Indicators

	SBIT	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-81.66%	-9.69%
Max Drawdown (1Y) Largest decline over 1 year	-47.94%	-36.97%	-10.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-58.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-76.84%	-14.65%	-62.19%
Average Drawdown Average peak-to-trough decline	-68.66%	-18.49%	-50.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.93%	11.59%	+12.34%

Volatility

SBIT vs. TQQQ - Volatility Comparison

Proshares Ultrashort Bitcoin ETF (SBIT) and ProShares UltraPro QQQ (TQQQ) have volatilities of 26.11% and 27.27%, 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	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.11%	27.27%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	68.77%	43.35%	+25.42%
Volatility (1Y) Calculated over the trailing 1-year period	88.37%	53.39%	+34.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.39%	67.41%	+29.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.39%	66.32%	+31.07%

SBIT vs. TQQQ - Expense Ratio Comparison

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

Dividends

SBIT vs. TQQQ - Dividend Comparison

SBIT's dividend yield for the trailing twelve months is around 3.21%, more than TQQQ's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.42%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both SBIT and TQQQ in my portfolio?

SBIT and TQQQ 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 TQQQ?

TQQQ has higher volatility (27.27%) compared to SBIT (26.11%). In terms of maximum drawdown, SBIT dropped -91.35% vs TQQQ's -81.66%.

Which ETF is better, SBIT or TQQQ?

On 1-year performance, TQQQ leads with 100.69% vs 71.04% for SBIT. 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 TQQQ?

Over the 1-year period, TQQQ has performed better with a 100.69% return vs 71.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIT or TQQQ?

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

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

SBIT has the higher dividend yield at 3.21%, compared with 0.42% for TQQQ.

What is the main difference between SBIT and TQQQ?

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

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (1.90 vs 0.81), 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.