SDP vs. TQQQ
SDP (ProShares UltraShort Utilities) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds from ProShares - SDP tracks the Dow Jones U.S. Utilities Index (-200%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, SDP returned -20.74%/yr vs 42.73%/yr for TQQQ. At a correlation of -0.28, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
SDP vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -14.36% return, which is significantly lower than TQQQ's 42.86% return. Over the past 10 years, SDP has underperformed TQQQ with an annualized return of -20.74%, while TQQQ has yielded a comparatively higher 42.73% annualized return.
SDP
- 1D
- -0.10%
- 1M
- -6.21%
- 6M
- -13.88%
- YTD
- -14.36%
- 1Y
- -19.40%
- 3Y*
- -20.47%
- 5Y*
- -17.50%
- 10Y*
- -20.74%
TQQQ
- 1D
- 3.28%
- 1M
- -3.00%
- 6M
- 35.46%
- YTD
- 42.86%
- 1Y
- 78.48%
- 3Y*
- 52.21%
- 5Y*
- 19.60%
- 10Y*
- 42.73%
SDP vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -14.36% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -35.57% | -9.31% | -22.03% |
TQQQ ProShares UltraPro QQQ | 42.86% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between SDP and TQQQ is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.28 |
Over the past year, the inverse relationship between SDP and TQQQ has weakened: their correlation has moved from -0.28 to -0.01, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SDP vs. TQQQ — Risk / Return Rank
SDP
TQQQ
SDP vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) 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.
| SDP | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.25 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 2.13 | -2.89 |
| Martin ratioReturn relative to average drawdown | -1.28 | 6.53 | -7.81 |
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Drawdowns
SDP vs. TQQQ - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SDP and TQQQ.
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Drawdown Indicators
| SDP | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -81.66% | -17.90% |
Max Drawdown (1Y)Largest decline over 1 year | -25.59% | -36.97% | +11.38% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -58.04% | -8.13% |
Max Drawdown (5Y)Largest decline over 5 years | -66.17% | -81.66% | +15.49% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -81.66% | -10.77% |
Current DrawdownCurrent decline from peak | -99.53% | -13.79% | -85.74% |
Average DrawdownAverage peak-to-trough decline | -82.20% | -18.48% | -63.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.20% | 12.05% | +3.15% |
Volatility
SDP vs. TQQQ - Volatility Comparison
The current volatility for ProShares UltraShort Utilities (SDP) is 8.89%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 23.84%. This indicates that SDP experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDP | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 23.84% | -14.95% |
Volatility (6M)Calculated over the trailing 6-month period | 23.58% | 45.82% | -22.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.92% | 55.29% | -25.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.44% | 67.76% | -33.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.59% | 66.41% | -28.82% |
SDP vs. TQQQ - Expense Ratio Comparison
Both SDP and TQQQ have an expense ratio of 0.95%.
Dividends
SDP vs. TQQQ - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 4.34%, more than TQQQ's 0.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | 4.34% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.50% | 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
SDP and TQQQ have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (23.84%) compared to SDP (8.89%). In terms of maximum drawdown, SDP dropped -99.56% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 42.73% vs -20.74% for SDP. Both ETFs have the same 0.95% expense ratio. On volatility, SDP has been the lower-risk option at 8.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 42.73% return vs -20.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SDP and TQQQ have the same expense ratio: 0.95% per year.
SDP has the higher dividend yield at 4.34%, compared with 0.50% for TQQQ.
SDP tracks Dow Jones U.S. Utilities Index (-200%), while TQQQ tracks NASDAQ-100 Index (300%).
TQQQ currently has the higher Sharpe Ratio (1.43 vs -0.65), 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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