SMDV vs. SQQQ

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Russell 2000 Dividend Growers ETF (SMDV) and ProShares UltraPro Short QQQ (SQQQ).

SMDV and SQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMDV is a passively managed fund by ProShares that tracks the performance of the Russell 2000 Dividend Growth Index. It was launched on Feb 5, 2015. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. Both SMDV and SQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SMDV vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell 2000 Dividend Growers ETF (SMDV) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

SMDV vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMDV ProShares Russell 2000 Dividend Growers ETF	5.41%	0.26%	7.03%	8.99%	-5.90%	18.98%	-4.74%	17.23%	-0.58%	4.63%
SQQQ ProShares UltraPro Short QQQ	13.99%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-58.67%

Returns By Period

In the year-to-date period, SMDV achieves a 5.41% return, which is significantly lower than SQQQ's 13.99% return. Over the past 10 years, SMDV has outperformed SQQQ with an annualized return of 7.16%, while SQQQ has yielded a comparatively lower -52.71% annualized return.

SMDV

• 1D: 0.73%
• 1M: -3.74%
• YTD: 5.41%
• 6M: 5.80%
• 1Y: 8.17%
• 3Y*: 7.24%
• 5Y*: 3.74%
• 10Y*: 7.16%

SQQQ

• 1D: -3.78%
• 1M: 10.61%
• YTD: 13.99%
• 6M: 6.42%
• 1Y: -56.13%
• 3Y*: -49.39%
• 5Y*: -42.70%
• 10Y*: -52.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SMDV vs. SQQQ - Expense Ratio Comparison

SMDV has a 0.40% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

SQQQ

ProShares UltraPro Short QQQ

SMDV

ProShares Russell 2000 Dividend Growers ETF

Return for Risk

SMDV vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMDV

SMDV Risk / Return Rank: 26
SMDV Sharpe Ratio Rank: 24
SMDV Sortino Ratio Rank: 25
SMDV Omega Ratio Rank: 23
SMDV Calmar Ratio Rank: 30
SMDV Martin Ratio Rank: 27

SQQQ

SQQQ Risk / Return Rank: 2
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMDV vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dividend Growers ETF (SMDV) 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.

	SMDV	SQQQ	Difference
Sharpe ratio Return per unit of total volatility	0.45	-0.84	+1.29
Sortino ratio Return per unit of downside risk	0.79	-1.14	+1.93
Omega ratio Gain probability vs. loss probability	1.10	0.84	+0.25
Calmar ratio Return relative to maximum drawdown	0.77	-0.76	+1.53
Martin ratio Return relative to average drawdown	2.24	-0.87	+3.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMDV vs. SQQQ - Sharpe Ratio Comparison

The current SMDV Sharpe Ratio is 0.45, which is higher than the SQQQ Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of SMDV and SQQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMDV	SQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.45	-0.84	+1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	-0.64	+0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	-0.80	+1.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	-0.85	+1.22

Correlation

The correlation between SMDV and SQQQ is -0.46. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SMDV vs. SQQQ - Dividend Comparison

SMDV's dividend yield for the trailing twelve months is around 2.50%, less than SQQQ's 5.99% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMDV ProShares Russell 2000 Dividend Growers ETF	2.50%	2.67%	2.68%	2.69%	2.51%	2.02%	2.13%	2.03%	1.97%	1.84%	1.35%	1.81%
SQQQ ProShares UltraPro Short QQQ	5.99%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%	0.00%	0.00%

Drawdowns

SMDV vs. SQQQ - Drawdown Comparison

The maximum SMDV drawdown since its inception was -34.12%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SMDV and SQQQ.

Drawdown Indicators

	SMDV	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-34.12%	-100.00%	+65.88%
Max Drawdown (1Y) Largest decline over 1 year	-10.94%	-75.23%	+64.29%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-95.36%	+74.13%
Max Drawdown (10Y) Largest decline over 10 years	-34.12%	-99.96%	+65.84%
Current Drawdown Current decline from peak	-5.79%	-100.00%	+94.21%
Average Drawdown Average peak-to-trough decline	-5.99%	-92.32%	+86.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	65.40%	-61.65%

Volatility

SMDV vs. SQQQ - Volatility Comparison

The current volatility for ProShares Russell 2000 Dividend Growers ETF (SMDV) is 4.34%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 19.98%. This indicates that SMDV 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.

Volatility by Period

	SMDV	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	19.98%	-15.64%
Volatility (6M) Calculated over the trailing 6-month period	10.68%	38.23%	-27.55%
Volatility (1Y) Calculated over the trailing 1-year period	18.25%	67.38%	-49.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	66.65%	-47.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.71%	65.97%	-45.26%