SDP vs. SQQQ
SDP (ProShares UltraShort Utilities) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - SDP tracks the Dow Jones U.S. Utilities Index (-200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, SDP returned -20.69%/yr vs -56.01%/yr for SQQQ. At a 0.28 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
SDP vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -5.56% return, which is significantly higher than SQQQ's -45.27% return. Over the past 10 years, SDP has outperformed SQQQ with an annualized return of -20.69%, while SQQQ has yielded a comparatively lower -56.01% annualized return.
SDP
- 1D
- 0.71%
- 1M
- 11.99%
- YTD
- -5.56%
- 6M
- -1.63%
- 1Y
- -12.04%
- 3Y*
- -19.38%
- 5Y*
- -16.33%
- 10Y*
- -20.69%
SQQQ
- 1D
- 0.76%
- 1M
- -26.37%
- YTD
- -45.27%
- 6M
- -42.79%
- 1Y
- -65.16%
- 3Y*
- -56.19%
- 5Y*
- -49.17%
- 10Y*
- -56.01%
SDP vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -5.56% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -35.57% | -9.31% | -22.03% |
SQQQ ProShares UltraPro Short QQQ | -45.27% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between SDP and SQQQ is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010 | 0.28 |
The correlation between SDP and SQQQ shifts across timeframes, from 0.12 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SDP vs. SQQQ — Risk / Return Rank
SDP
SQQQ
SDP vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) 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.
| SDP | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +2.20 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.72 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.99 | +0.57 |
| Martin ratioReturn relative to average drawdown | -0.69 | -1.82 | +1.13 |
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
| SDP | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.41 | -1.37 | +0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | -0.74 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.55 | -0.85 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.56 | -0.88 | +0.31 |
Drawdowns
SDP vs. SQQQ - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SDP and SQQQ.
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Drawdown Indicators
| SDP | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -100.00% | +0.44% |
Max Drawdown (1Y)Largest decline over 1 year | -29.01% | -65.95% | +36.94% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -92.38% | +26.21% |
Max Drawdown (5Y)Largest decline over 5 years | -66.61% | -97.23% | +30.62% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -99.98% | +7.55% |
Current DrawdownCurrent decline from peak | -99.49% | -100.00% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -82.12% | -92.40% | +10.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.38% | 35.73% | -18.35% |
Volatility
SDP vs. SQQQ - Volatility Comparison
The current volatility for ProShares UltraShort Utilities (SDP) is 10.86%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.75%. This indicates that SDP 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
| SDP | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.86% | 13.75% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 23.05% | 36.45% | -13.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.23% | 47.79% | -18.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.37% | 66.64% | -32.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.51% | 66.11% | -28.60% |
SDP vs. SQQQ - Expense Ratio Comparison
Both SDP and SQQQ have an expense ratio of 0.95%.
Dividends
SDP vs. SQQQ - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 3.87%, less than SQQQ's 12.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | 3.87% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 12.48% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
SDP and SQQQ have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (13.75%) compared to SDP (10.86%). In terms of maximum drawdown, SDP dropped -99.56% vs SQQQ's -100.00%.
On 10-year performance, SDP leads with -20.69% vs -56.01% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SDP has been the lower-risk option at 10.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SDP has performed better with a -20.69% return vs -56.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SDP and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 12.48%, compared with 3.87% for SDP.
SDP tracks Dow Jones U.S. Utilities Index (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).
SDP currently has the higher Sharpe Ratio (-0.41 vs -1.37), 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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