SMPIX vs. TQQQ

Last updated Aug 1, 2026

SMPIX (ProFunds Semiconductor UltraSector Fund Investor Class) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds - SMPIX tracks the Dow Jones U.S. Semiconductors Index (150% Daily) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, SMPIX returned 15.52%/yr vs 39.46%/yr for TQQQ. Their correlation of 0.83 means they have usually moved in the same direction. SMPIX charges 1.52%/yr vs 0.95%/yr for TQQQ.

Performance

SMPIX vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMPIX achieves a 39.91% return, which is significantly higher than TQQQ's 23.06% return. Over the past 10 years, SMPIX has underperformed TQQQ with an annualized return of 15.52%, while TQQQ has yielded a comparatively higher 39.46% annualized return.

SMPIX

• 1D: 9.88%
• 1M: -7.95%
• 6M: 28.85%
• YTD: 39.91%
• 1Y: 72.46%
• 3Y*: -17.82%
• 5Y*: -4.21%
• 10Y*: 15.52%
• ALL TIME*: 3.71%

TQQQ

• 1D: 2.09%
• 1M: -11.90%
• 6M: 20.14%
• YTD: 23.06%
• 1Y: 56.87%
• 3Y*: 43.81%
• 5Y*: 15.36%
• 10Y*: 39.46%
• ALL TIME*: 42.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	$0.00	$0.00	$0.00
TQQQ ProShares UltraPro QQQ	$4.37B	$4.57B	$5.33B

SMPIX vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	39.91%	56.35%	-77.32%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%
TQQQ ProShares UltraPro QQQ	23.06%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between SMPIX and TQQQ is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.83

The correlation between SMPIX and TQQQ has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

Return for Risk

SMPIX vs. TQQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMPIX

SMPIX Risk / Return Rank: 46
SMPIX Sharpe Ratio Rank: 38
SMPIX Sortino Ratio Rank: 39
SMPIX Omega Ratio Rank: 39
SMPIX Calmar Ratio Rank: 66
SMPIX Martin Ratio Rank: 50

TQQQ

TQQQ Risk / Return Rank: 36
TQQQ Sharpe Ratio Rank: 34
TQQQ Sortino Ratio Rank: 37
TQQQ Omega Ratio Rank: 36
TQQQ Calmar Ratio Rank: 37
TQQQ Martin Ratio Rank: 36

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMPIX vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX) and ProShares UltraPro QQQ (TQQQ). 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.

	SMPIX	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.12	0.83	+0.29
Sortino ratio: Return per unit of downside risk	1.66	1.38	+0.28
Omega ratio: Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	2.10	1.29	+0.81
Martin ratio: Return relative to average drawdown	6.67	3.60	+3.08

SMPIX vs. TQQQ - Sharpe Ratio Comparison

The current SMPIX Sharpe Ratio is 1.12, which is higher than the TQQQ Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of SMPIX and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SMPIX vs. TQQQ - Drawdown Comparison

The maximum SMPIX drawdown since its inception was -94.52%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SMPIX and TQQQ.

Drawdown Indicators

	SMPIX	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-94.52%	-81.66%	-12.86%
Max Drawdown (1Y) Largest decline over 1 year	-30.07%	-36.97%	+6.90%
Max Drawdown (3Y) Largest decline over 3 years	-94.52%	-58.04%	-36.48%
Max Drawdown (5Y) Largest decline over 5 years	-94.52%	-81.66%	-12.86%
Max Drawdown (10Y) Largest decline over 10 years	-94.52%	-81.66%	-12.86%
Current Drawdown Current decline from peak	-78.88%	-25.74%	-53.14%
Average Drawdown Average peak-to-trough decline	-57.72%	-18.49%	-39.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.44%	13.24%	-3.80%

Volatility

SMPIX vs. TQQQ - Volatility Comparison

ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX) has a higher volatility of 22.34% compared to ProShares UltraPro QQQ (TQQQ) at 20.41%. This indicates that SMPIX's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMPIX	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.34%	20.41%	+1.93%
Volatility (6M) Calculated over the trailing 6-month period	46.42%	47.79%	-1.37%
Volatility (1Y) Calculated over the trailing 1-year period	56.21%	57.62%	-1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.24%	68.04%	+4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.04%	66.57%	-6.53%

SMPIX vs. TQQQ - Expense Ratio Comparison

SMPIX has a 1.52% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

SMPIX vs. TQQQ - Dividend Comparison

SMPIX's dividend yield for the trailing twelve months is around 9.30%, more than TQQQ's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMPIX ProFunds Semiconductor UltraSector Fund Investor Class	9.30%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%
TQQQ ProShares UltraPro QQQ	0.58%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both SMPIX and TQQQ in my portfolio?

SMPIX and TQQQ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMPIX or TQQQ?

SMPIX has higher volatility (22.34%) compared to TQQQ (20.41%). In terms of maximum drawdown, SMPIX dropped -94.52% vs TQQQ's -81.66%.

Which has better risk-adjusted returns?

SMPIX currently has the higher Sharpe Ratio (1.12 vs 0.83), 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.