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 -3.52%/yr vs -55.28%/yr for SQQQ. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
SJB vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SJB achieves a 0.90% return, which is significantly higher than SQQQ's -40.27% return. Over the past 10 years, SJB has outperformed SQQQ with an annualized return of -3.52%, while SQQQ has yielded a comparatively lower -55.28% annualized return.
SJB
- 1D
- 0.32%
- 1M
- 0.38%
- 6M
- 1.09%
- YTD
- 0.90%
- 1Y
- 0.37%
- 3Y*
- -1.62%
- 5Y*
- -0.24%
- 10Y*
- -3.52%
SQQQ
- 1D
- 5.74%
- 1M
- 1.37%
- 6M
- -36.57%
- YTD
- -40.27%
- 1Y
- -56.10%
- 3Y*
- -51.78%
- 5Y*
- -45.66%
- 10Y*
- -55.28%
SJB vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 0.90% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -9.23% | -11.42% | 2.47% | -6.17% |
SQQQ ProShares UltraPro Short QQQ | -40.27% | -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 0.62, 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 | 0.62 |
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 SQQQ has been stable across timeframes, ranging from 0.59 to 0.67 - a consistent structural relationship.
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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 | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.82 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | -0.92 | +1.06 |
| Martin ratioReturn relative to average drawdown | 0.27 | -1.71 | +1.98 |
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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.
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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 | -57.33% | -100.00% | +42.67% |
Average DrawdownAverage peak-to-trough decline | -42.57% | -92.75% | +50.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 32.78% | -31.39% |
Volatility
SJB vs. SQQQ - Volatility Comparison
The current volatility for ProShares Short High Yield (SJB) is 0.93%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.05%. 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.
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Volatility by Period
| SJB | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 26.05% | -25.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 45.88% | -42.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 55.64% | -51.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.52% | 67.87% | -60.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.45% | 66.56% | -58.11% |
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 3.60%, less than SQQQ's 10.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 3.60% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 10.00% | 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 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.05%) compared to SJB (0.93%). In terms of maximum drawdown, SJB dropped -58.06% vs SQQQ's -100.00%.
On 10-year performance, SJB leads with -3.52% vs -55.28% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SJB has been the lower-risk option at 0.93%. 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 -3.52% return vs -55.28%. 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 10.00%, compared with 3.60% 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 (0.10 vs -1.01), 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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