SHNY vs. TQQQ
SHNY (MicroSectors Gold 3X Leveraged ETN) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - SHNY is a Leveraged Commodities fund tracking the SPDR Gold Shares ETF (GLD), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 3 years, SHNY returned 44.79%/yr vs 43.81%/yr for TQQQ. Their 0.11 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
SHNY vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SHNY achieves a -39.40% return, which is significantly lower than TQQQ's 23.06% return.
SHNY
- 1D
- -4.58%
- 1M
- -7.48%
- 6M
- -54.00%
- YTD
- -39.40%
- 1Y
- 10.61%
- 3Y*
- 44.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 40.02%
TQQQ
- 1D
- 2.09%
- 1M
- -11.90%
- 6M
- 20.14%
- YTD
- 23.06%
- 1Y
- 56.87%
- 3Y*
- 43.81%
- 5Y*
- 15.36%
- 10Y*
- 39.46%
- ALL TIME*
- 42.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.61M | $4.51M | $6.08M | |
| $4.37B | $4.57B | $5.33B |
SHNY vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SHNY MicroSectors Gold 3X Leveraged ETN | -39.40% | 214.54% | 50.30% | 10.98% |
TQQQ ProShares UltraPro QQQ | 23.06% | 34.35% | 58.27% | 130.70% |
Correlation
The correlation between SHNY and TQQQ is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2023 | 0.11 |
The correlation between SHNY and TQQQ shifts across timeframes, from 0.11 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SHNY vs. TQQQ — Risk / Return Rank
SHNY
TQQQ
SHNY vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold 3X Leveraged ETN (SHNY) 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.
| SHNY | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.17 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 1.29 | -1.04 |
| Martin ratioReturn relative to average drawdown | 0.47 | 3.60 | -3.12 |
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Drawdowns
SHNY vs. TQQQ - Drawdown Comparison
The maximum SHNY drawdown since its inception was -69.36%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SHNY and TQQQ.
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Drawdown Indicators
| SHNY | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.36% | -81.66% | +12.30% |
Max Drawdown (1Y)Largest decline over 1 year | -69.36% | -36.97% | -32.39% |
Max Drawdown (3Y)Largest decline over 3 years | -69.36% | -58.04% | -11.32% |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -68.12% | -25.74% | -42.38% |
Average DrawdownAverage peak-to-trough decline | -17.26% | -18.49% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.30% | 13.24% | +23.06% |
Volatility
SHNY vs. TQQQ - Volatility Comparison
The current volatility for MicroSectors Gold 3X Leveraged ETN (SHNY) is 19.06%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 20.41%. This indicates that SHNY 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
| SHNY | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.06% | 20.41% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 71.92% | 47.79% | +24.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 83.26% | 57.62% | +25.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.47% | 68.04% | -8.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.47% | 66.57% | -7.10% |
SHNY vs. TQQQ - Expense Ratio Comparison
Both SHNY and TQQQ have an expense ratio of 0.95%.
Dividends
SHNY vs. TQQQ - Dividend Comparison
SHNY has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHNY MicroSectors Gold 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.58% | 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
SHNY and TQQQ have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (20.41%) compared to SHNY (19.06%). In terms of maximum drawdown, SHNY dropped -69.36% vs TQQQ's -81.66%.
On 3-year performance, SHNY leads with 44.79% vs 43.81% for TQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SHNY has been the lower-risk option at 19.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SHNY has performed better with a 44.79% return vs 43.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHNY and TQQQ have the same expense ratio: 0.95% per year.
TQQQ has the higher dividend yield at 0.58%, compared with 0.00% for SHNY.
SHNY is categorized as Leveraged Commodities, while TQQQ is Leveraged Equities. SHNY tracks SPDR Gold Shares ETF (GLD), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: BMO and ProShares.
TQQQ currently has the higher Sharpe Ratio (0.83 vs 0.21), 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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