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 -20.83%/yr vs 44.95%/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 -6.57% return, which is significantly lower than TQQQ's 61.91% return. Over the past 10 years, SDP has underperformed TQQQ with an annualized return of -20.83%, while TQQQ has yielded a comparatively higher 44.95% annualized return.
SDP
- 1D
- -1.07%
- 1M
- 11.41%
- YTD
- -6.57%
- 6M
- -3.26%
- 1Y
- -16.19%
- 3Y*
- -19.49%
- 5Y*
- -16.51%
- 10Y*
- -20.83%
TQQQ
- 1D
- -1.55%
- 1M
- 26.46%
- YTD
- 61.91%
- 6M
- 54.01%
- 1Y
- 132.34%
- 3Y*
- 68.49%
- 5Y*
- 27.97%
- 10Y*
- 44.95%
SDP vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -6.57% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -35.57% | -9.31% | -22.03% |
TQQQ ProShares UltraPro QQQ | 61.91% | 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 -0.11, 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 | -0.11 |
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 TQQQ shifts across timeframes, from -0.28 (all time) to -0.11 (1 year), reflecting how their relationship changes across market environments.
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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.
| SDP | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.36 | ||
| Sortino ratioReturn per unit of downside risk | -3.69 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.39 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 3.60 | -4.16 |
| Martin ratioReturn relative to average drawdown | -0.93 | 11.77 | -12.71 |
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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.56 | 2.80 | -3.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | 0.42 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.56 | 0.68 | -1.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.56 | 0.74 | -1.30 |
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 | -29.01% | -36.97% | +7.96% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -58.04% | -8.13% |
Max Drawdown (5Y)Largest decline over 5 years | -66.61% | -81.66% | +15.05% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -81.66% | -10.77% |
Current DrawdownCurrent decline from peak | -99.49% | -2.29% | -97.20% |
Average DrawdownAverage peak-to-trough decline | -82.12% | -18.52% | -63.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.42% | 11.28% | +6.14% |
Volatility
SDP vs. TQQQ - Volatility Comparison
The current volatility for ProShares UltraShort Utilities (SDP) is 10.92%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.35%. 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 | 10.92% | 13.35% | -2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 23.04% | 36.04% | -13.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.23% | 47.60% | -18.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.37% | 66.50% | -32.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.50% | 65.95% | -28.45% |
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 3.91%, more than TQQQ's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | 3.91% | 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 | 0.37% | 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 -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (13.35%) compared to SDP (10.92%). In terms of maximum drawdown, SDP dropped -99.56% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 44.95% vs -20.83% for SDP. Both ETFs have the same 0.95% expense ratio. On volatility, SDP has been the lower-risk option at 10.92%. 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 44.95% return vs -20.83%. 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 3.91%, compared with 0.37% 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 (2.80 vs -0.56), 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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