SJB vs. SQQQ
SJB (ProShares Short High Yield) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - SJB is a Inverse Bonds fund tracking the iBoxx $ Liquid High Yield Index (-100%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, SJB returned -3.58%/yr vs -54.48%/yr for SQQQ. Their 0.62 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
SJB vs. SQQQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SJB achieves a 1.17% return, which is significantly higher than SQQQ's -34.61% return. Over the past 10 years, SJB has outperformed SQQQ with an annualized return of -3.58%, while SQQQ has yielded a comparatively lower -54.48% annualized return.
SJB
- 1D
- 0.12%
- 1M
- 0.65%
- 6M
- 1.17%
- YTD
- 1.17%
- 1Y
- 0.70%
- 3Y*
- -1.64%
- 5Y*
- -0.13%
- 10Y*
- -3.58%
- ALL TIME*
- -5.06%
SQQQ
- 1D
- -1.99%
- 1M
- 9.46%
- 6M
- -32.40%
- YTD
- -34.61%
- 1Y
- -52.32%
- 3Y*
- -49.83%
- 5Y*
- -44.46%
- 10Y*
- -54.48%
- ALL TIME*
- -52.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.85M | $1.63M | $3.02M | |
| $2.40B | $2.29B | $2.66B |
SJB vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 1.17% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -9.23% | -11.42% | 2.47% | -6.17% |
SQQQ ProShares UltraPro Short QQQ | -34.61% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between SJB and SQQQ is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2011 | 0.62 |
The correlation between SJB and SQQQ has been stable across timeframes, ranging from 0.59 to 0.66 - 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. SQQQ — Risk / Return Rank
SJB
SQQQ
SJB vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) 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.
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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.86 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | -0.81 | +1.09 |
| Martin ratioReturn relative to average drawdown | 0.54 | -1.41 | +1.95 |
Loading charts...
Drawdowns
SJB vs. SQQQ - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SJB and SQQQ.
Loading charts...
Drawdown Indicators
| SJB | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -100.00% | +41.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -61.03% | +58.29% |
Max Drawdown (3Y)Largest decline over 3 years | -10.54% | -92.51% | +81.97% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -97.27% | +83.97% |
Max Drawdown (10Y)Largest decline over 10 years | -32.86% | -99.97% | +67.11% |
Current DrawdownCurrent decline from peak | -57.22% | -100.00% | +42.78% |
Average DrawdownAverage peak-to-trough decline | -42.62% | -92.78% | +50.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 35.08% | -33.65% |
Volatility
SJB vs. SQQQ - Volatility Comparison
The current volatility for ProShares Short High Yield (SJB) is 1.15%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 20.82%. This indicates that SJB 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.
Loading charts...
Volatility by Period
| SJB | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 20.82% | -19.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 48.09% | -44.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.94% | 57.98% | -54.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 68.18% | -60.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.44% | 66.74% | -58.30% |
SJB vs. SQQQ - Expense Ratio Comparison
Both SJB and SQQQ have an expense ratio of 0.95%.
Dividends
SJB vs. SQQQ - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.59%, less than SQQQ's 9.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 3.59% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 9.14% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
SJB and SQQQ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (20.82%) compared to SJB (1.15%). In terms of maximum drawdown, SJB dropped -58.06% vs SQQQ's -100.00%.
On 10-year performance, SJB leads with -3.58% vs -54.48% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SJB has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SJB has performed better with a -3.58% return vs -54.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SJB and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 9.14%, compared with 3.59% for SJB.
SJB is categorized as Inverse Bonds, while SQQQ is Leveraged Equities. SJB tracks iBoxx $ Liquid High Yield Index (-100%), while SQQQ tracks NASDAQ-100 Index (-300%).
SJB currently has the higher Sharpe Ratio (0.20 vs -0.86), 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 SQQQ
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