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SDOW vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SDOW vs. QQQ

Last updated Jun 23, 2026

SDOW (ProShares UltraPro Short Dow30) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SDOW is a Leveraged Equities fund tracking the Dow Jones Industrial Average (-300%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SDOW returned -38.68%/yr vs 22.48%/yr for QQQ. At a correlation of -0.75, they often move in opposite directions. SDOW charges 0.95%/yr vs 0.18%/yr for QQQ.

Performance

SDOW vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short Dow30 (SDOW) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SDOW achieves a -20.67% return, which is significantly lower than QQQ's 20.41% return. Over the past 10 years, SDOW has underperformed QQQ with an annualized return of -38.68%, while QQQ has yielded a comparatively higher 22.48% annualized return.

SDOW

1D
-0.79%
1M
-6.88%
YTD
-20.67%
6M
-18.99%
1Y
-44.96%
3Y*
-33.84%
5Y*
-26.47%
10Y*
-38.68%

QQQ

1D
-0.25%
1M
2.96%
YTD
20.41%
6M
19.46%
1Y
40.91%
3Y*
27.47%
5Y*
16.94%
10Y*
22.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SDOW vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SDOW
ProShares UltraPro Short Dow30		-20.67%-33.94%-25.95%-28.78%4.00%-49.00%-66.48%-49.54%-0.30%-52.26%
QQQ
Invesco QQQ ETF		20.41%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between SDOW and QQQ is -0.64, 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

-0.64

Correlation (3Y)
Calculated over the trailing 3-year period

-0.64

Correlation (5Y)
Calculated over the trailing 5-year period

-0.71

Correlation (10Y)
Calculated over the trailing 10-year period

-0.71

Correlation (All Time)
Calculated using the full available price history since Feb 11, 2010

-0.75

The correlation between SDOW and QQQ shifts across timeframes, from -0.75 (all time) to -0.64 (1 year), reflecting how their relationship changes across market environments.

SDOW vs. QQQ - Sectors Allocation Comparison

Sectors
SDOW
QQQ

Financial Services

83.7%
0.2%

Basic Materials

-

1.0%

Communication Services

-

14.3%

Consumer Cyclical

-

11.4%

Consumer Defensive

-

6.4%

Energy

-

0.5%

Healthcare

-

3.7%

Industrials

-

2.6%

Real Estate

-

0.1%

Technology

-

58.7%

Utilities

-

1.2%

Financial Services

SDOW
83.7%
QQQ
0.2%

Basic Materials

SDOW

-

QQQ
1.0%

Communication Services

SDOW

-

QQQ
14.3%

Consumer Cyclical

SDOW

-

QQQ
11.4%

Consumer Defensive

SDOW

-

QQQ
6.4%

Energy

SDOW

-

QQQ
0.5%

Healthcare

SDOW

-

QQQ
3.7%

Industrials

SDOW

-

QQQ
2.6%

Real Estate

SDOW

-

QQQ
0.1%

Technology

SDOW

-

QQQ
58.7%

Utilities

SDOW

-

QQQ
1.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraPro Short Dow30

Invesco QQQ ETF

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Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. SPMO

Return for Risk

SDOW vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SDOW
SDOW Risk / Return Rank: 11
Overall Rank
SDOW Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SDOW Sortino Ratio Rank: 11
Sortino Ratio Rank
SDOW Omega Ratio Rank: 11
Omega Ratio Rank
SDOW Calmar Ratio Rank: 00
Calmar Ratio Rank
SDOW Martin Ratio Rank: 00
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7272
Overall Rank
QQQ Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7272
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7070
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
Martin Ratio Rank
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.

SDOW vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Dow30 (SDOW) and Invesco QQQ ETF (QQQ). 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.

SDOWQQQDifference
Sharpe ratioReturn per unit of total volatility
-1.21
2.33

-3.54

Sortino ratioReturn per unit of downside risk
-1.87
3.03

-4.90

Omega ratioGain probability vs. loss probability

0.79

1.41

-0.62

Calmar ratioReturn relative to maximum drawdown

-1.01

3.44

-4.45

Martin ratioReturn relative to average drawdown

-1.65

12.79

-14.44

SDOW vs. QQQ - Sharpe Ratio Comparison

The current SDOW Sharpe Ratio is -1.21, which is lower than the QQQ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of SDOW and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SDOW vs. QQQ - Drawdown Comparison

The maximum SDOW drawdown since its inception was -99.96%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SDOW and QQQ.

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Drawdown Indicators

SDOWQQQDifference

Max Drawdown

Largest peak-to-trough decline

-99.96%

-82.97%

-16.99%

Max Drawdown (1Y)

Largest decline over 1 year

-44.49%

-11.96%

-32.53%

Max Drawdown (3Y)

Largest decline over 3 years

-75.55%

-22.77%

-52.78%

Max Drawdown (5Y)

Largest decline over 5 years

-83.15%

-35.12%

-48.03%

Max Drawdown (10Y)

Largest decline over 10 years

-99.29%

-35.12%

-64.17%

Current Drawdown

Current decline from peak

-99.96%

-0.99%

-98.97%

Average Drawdown

Average peak-to-trough decline

-89.58%

-32.73%

-56.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

29.05%

3.21%

+25.84%

Volatility

SDOW vs. QQQ - Volatility Comparison

ProShares UltraPro Short Dow30 (SDOW) has a higher volatility of 12.43% compared to Invesco QQQ ETF (QQQ) at 8.47%. This indicates that SDOW's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SDOWQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.43%

8.47%

+3.96%

Volatility (6M)

Calculated over the trailing 6-month period

29.43%

14.20%

+15.23%

Volatility (1Y)

Calculated over the trailing 1-year period

37.23%

17.67%

+19.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

44.43%

22.64%

+21.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

52.23%

22.43%

+29.80%

SDOW vs. QQQ - Expense Ratio Comparison

SDOW has a 0.95% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

SDOW vs. QQQ - Dividend Comparison

SDOW's dividend yield for the trailing twelve months is around 5.87%, more than QQQ's 0.49% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.41%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
SDOW
ProShares UltraPro Short Dow30		5.87%5.80%8.30%5.38%0.36%0.00%0.52%2.17%1.23%0.09%0.00%0.00%

Frequently Asked Questions

SDOW and QQQ have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SDOW has higher volatility (12.43%) compared to QQQ (8.47%). In terms of maximum drawdown, SDOW dropped -99.96% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 22.48% vs -38.68% for SDOW. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 8.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 22.48% return vs -38.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.95% for SDOW.

SDOW has the higher dividend yield at 5.87%, compared with 0.49% for QQQ.

SDOW is categorized as Leveraged Equities, while QQQ is Nasdaq-100. SDOW tracks Dow Jones Industrial Average (-300%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for SDOW and 0.18% for QQQ.

QQQ currently has the higher Sharpe Ratio (2.33 vs -1.21), 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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