SETH vs. SQQQ
Compare and contrast key facts about ProShares Short Ether Strategy ETF (SETH) and ProShares UltraPro Short QQQ (SQQQ).
SETH and SQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SETH is a passively managed fund by ProShares that tracks the performance of the Bloomberg Galaxy Ethereum (--100%). It was launched on Nov 1, 2023. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. Both SETH and SQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SETH vs. SQQQ - Performance Comparison
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SETH vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SETH ProShares Short Ether Strategy ETF | 20.65% | -29.41% | -49.59% | -22.80% |
SQQQ ProShares UltraPro Short QQQ | 13.99% | -53.05% | -49.79% | -29.58% |
Returns By Period
In the year-to-date period, SETH achieves a 20.65% return, which is significantly higher than SQQQ's 13.99% return.
SETH
- 1D
- -2.21%
- 1M
- -7.87%
- YTD
- 20.65%
- 6M
- 57.31%
- 1Y
- -45.49%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ
- 1D
- -3.78%
- 1M
- 10.61%
- YTD
- 13.99%
- 6M
- 6.42%
- 1Y
- -56.13%
- 3Y*
- -49.39%
- 5Y*
- -42.70%
- 10Y*
- -52.71%
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SETH vs. SQQQ - Expense Ratio Comparison
Both SETH and SQQQ have an expense ratio of 0.95%.
Return for Risk
SETH vs. SQQQ — Risk / Return Rank
SETH
SQQQ
SETH vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Ether Strategy ETF (SETH) 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.
| SETH | SQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.60 | -0.84 | +0.24 |
Sortino ratioReturn per unit of downside risk | -0.56 | -1.14 | +0.58 |
Omega ratioGain probability vs. loss probability | 0.93 | 0.84 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | -0.64 | -0.76 | +0.12 |
Martin ratioReturn relative to average drawdown | -0.81 | -0.87 | +0.06 |
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
| SETH | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.60 | -0.84 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.64 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.52 | -0.85 | +0.33 |
Correlation
The correlation between SETH and SQQQ is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SETH vs. SQQQ - Dividend Comparison
SETH's dividend yield for the trailing twelve months is around 11.38%, more than SQQQ's 5.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SETH ProShares Short Ether Strategy ETF | 11.38% | 7.01% | 3.44% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 5.99% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Drawdowns
SETH vs. SQQQ - Drawdown Comparison
The maximum SETH drawdown since its inception was -80.74%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SETH and SQQQ.
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Drawdown Indicators
| SETH | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.74% | -100.00% | +19.26% |
Max Drawdown (1Y)Largest decline over 1 year | -75.02% | -75.23% | +0.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -95.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.96% | — |
Current DrawdownCurrent decline from peak | -66.86% | -100.00% | +33.14% |
Average DrawdownAverage peak-to-trough decline | -53.84% | -92.32% | +38.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.01% | 65.40% | -6.39% |
Volatility
SETH vs. SQQQ - Volatility Comparison
ProShares Short Ether Strategy ETF (SETH) and ProShares UltraPro Short QQQ (SQQQ) have volatilities of 19.86% and 19.98%, 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.
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Volatility by Period
| SETH | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.86% | 19.98% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 53.29% | 38.23% | +15.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.09% | 67.38% | +8.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.15% | 66.65% | +4.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.15% | 65.97% | +5.18% |