SIJ vs. SQQQ
SIJ (ProShares UltraShort Industrials) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - SIJ tracks the DJ Global United States (All) / Industrials -IND (-200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, SIJ returned -27.77%/yr vs -56.01%/yr for SQQQ. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
SIJ vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -21.28% return, which is significantly higher than SQQQ's -45.27% return. Over the past 10 years, SIJ has outperformed SQQQ with an annualized return of -27.77%, while SQQQ has yielded a comparatively lower -56.01% annualized return.
SIJ
- 1D
- -0.08%
- 1M
- -3.55%
- YTD
- -21.28%
- 6M
- -22.55%
- 1Y
- -31.23%
- 3Y*
- -29.54%
- 5Y*
- -18.51%
- 10Y*
- -27.77%
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%
SIJ vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -21.28% | -29.33% | -21.63% | -24.18% | 18.15% | -34.31% | -54.09% | -45.12% | 20.55% | -36.32% |
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 SIJ and SQQQ is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010 | 0.66 |
The correlation between SIJ and SQQQ shifts across timeframes, from 0.53 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SIJ vs. SQQQ — Risk / Return Rank
SIJ
SQQQ
SIJ vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) 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.
| SIJ | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.72 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.99 | +0.11 |
| Martin ratioReturn relative to average drawdown | -1.50 | -1.82 | +0.32 |
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
| SIJ | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | -1.37 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.52 | -0.74 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | -0.85 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | -0.88 | +0.25 |
Drawdowns
SIJ vs. SQQQ - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SIJ and SQQQ.
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Drawdown Indicators
| SIJ | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -100.00% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -35.40% | -65.95% | +30.55% |
Max Drawdown (3Y)Largest decline over 3 years | -69.84% | -92.38% | +22.54% |
Max Drawdown (5Y)Largest decline over 5 years | -76.49% | -97.23% | +20.74% |
Max Drawdown (10Y)Largest decline over 10 years | -96.54% | -99.98% | +3.44% |
Current DrawdownCurrent decline from peak | -99.92% | -100.00% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -86.74% | -92.40% | +5.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.81% | 35.73% | -14.92% |
Volatility
SIJ vs. SQQQ - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 10.18%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.75%. This indicates that SIJ 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
| SIJ | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.18% | 13.75% | -3.57% |
Volatility (6M)Calculated over the trailing 6-month period | 26.39% | 36.45% | -10.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.52% | 47.79% | -16.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.84% | 66.64% | -30.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.62% | 66.11% | -26.49% |
SIJ vs. SQQQ - Expense Ratio Comparison
Both SIJ and SQQQ have an expense ratio of 0.95%.
Dividends
SIJ vs. SQQQ - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 5.75%, less than SQQQ's 12.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | 5.75% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% | 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
SIJ and SQQQ have a correlation of 0.53, 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 SIJ (10.18%). In terms of maximum drawdown, SIJ dropped -99.93% vs SQQQ's -100.00%.
On 10-year performance, SIJ leads with -27.77% vs -56.01% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SIJ has been the lower-risk option at 10.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SIJ has performed better with a -27.77% return vs -56.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIJ and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 12.48%, compared with 5.75% for SIJ.
SIJ tracks DJ Global United States (All) / Industrials -IND (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).
SIJ currently has the higher Sharpe Ratio (-1.00 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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