SJB vs. QLD
SJB (ProShares Short High Yield) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - SJB is a Inverse Bonds fund tracking the iBoxx $ Liquid High Yield Index (-100%), while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, SJB returned -3.97%/yr vs 36.15%/yr for QLD. At a correlation of -0.62, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
SJB vs. QLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SJB achieves a -0.44% return, which is significantly lower than QLD's 28.38% return. Over the past 10 years, SJB has underperformed QLD with an annualized return of -3.97%, while QLD has yielded a comparatively higher 36.15% annualized return.
SJB
- 1D
- -1.17%
- 1M
- -1.33%
- YTD
- -0.44%
- 6M
- -0.44%
- 1Y
- -0.99%
- 3Y*
- -2.61%
- 5Y*
- -0.59%
- 10Y*
- -3.97%
QLD
- 1D
- -0.93%
- 1M
- -2.93%
- YTD
- 28.38%
- 6M
- 24.28%
- 1Y
- 60.38%
- 3Y*
- 43.16%
- 5Y*
- 21.23%
- 10Y*
- 36.15%
SJB vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | -0.44% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -9.23% | -11.42% | 2.47% | -6.17% |
QLD ProShares Ultra QQQ | 28.38% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between SJB and QLD is -0.62, 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 | -0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2011 | -0.62 |
The correlation between SJB and QLD has been stable across timeframes, ranging from -0.67 to -0.59 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SJB vs. QLD — Risk / Return Rank
SJB
QLD
SJB vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) and ProShares Ultra QQQ (QLD). 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.
| SJB | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.48 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.29 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 2.41 | -2.71 |
| Martin ratioReturn relative to average drawdown | -0.76 | 8.15 | -8.91 |
Loading charts...
Drawdowns
SJB vs. QLD - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for SJB and QLD.
Loading charts...
Drawdown Indicators
| SJB | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -83.13% | +25.07% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -25.13% | +21.81% |
Max Drawdown (3Y)Largest decline over 3 years | -10.54% | -42.29% | +31.75% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -63.68% | +50.38% |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | -63.68% | +29.11% |
Current DrawdownCurrent decline from peak | -57.90% | -10.11% | -47.79% |
Average DrawdownAverage peak-to-trough decline | -42.52% | -18.14% | -24.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 7.43% | -6.12% |
Volatility
SJB vs. QLD - Volatility Comparison
The current volatility for ProShares Short High Yield (SJB) is 1.58%, while ProShares Ultra QQQ (QLD) has a volatility of 18.22%. This indicates that SJB experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SJB | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 18.22% | -16.64% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 28.88% | -25.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 35.74% | -31.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.54% | 45.34% | -37.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.50% | 44.79% | -36.29% |
SJB vs. QLD - Expense Ratio Comparison
Both SJB and QLD have an expense ratio of 0.95%.
Dividends
SJB vs. QLD - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.47%, more than QLD's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
SJB ProShares Short High Yield | 3.47% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SJB and QLD have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (18.22%) compared to SJB (1.58%). In terms of maximum drawdown, SJB dropped -58.06% vs QLD's -83.13%.
On 10-year performance, QLD leads with 36.15% vs -3.97% for SJB. Both ETFs have the same 0.95% expense ratio. On volatility, SJB has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 36.15% return vs -3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SJB and QLD have the same expense ratio: 0.95% per year.
SJB has the higher dividend yield at 3.47%, compared with 0.13% for QLD.
SJB is categorized as Inverse Bonds, while QLD is Leveraged Equities. SJB tracks iBoxx $ Liquid High Yield Index (-100%), while QLD tracks NASDAQ-100 Index (200%).
QLD currently has the higher Sharpe Ratio (1.70 vs -0.25), 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.
Find the right allocation for SJB and QLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer