SPRO vs. TQQQ

Last updated Jul 15, 2026

SPRO (Spero Therapeutics, Inc.) is a stock, while TQQQ (ProShares UltraPro QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Over the past 5 years, SPRO returned -34.67%/yr vs 19.60%/yr for TQQQ. At a 0.26 correlation, their price movements are largely independent.

Performance

SPRO vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spero Therapeutics, Inc. (SPRO) 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, SPRO achieves a -27.04% return, which is significantly lower than TQQQ's 42.86% return.

SPRO

• 1D: -22.02%
• 1M: -40.35%
• 6M: -30.61%
• YTD: -27.04%
• 1Y: -35.61%
• 3Y*: 4.03%
• 5Y*: -34.67%
• 10Y*: —

TQQQ

• 1D: 3.28%
• 1M: -3.00%
• 6M: 35.46%
• YTD: 42.86%
• 1Y: 78.48%
• 3Y*: 52.21%
• 5Y*: 19.60%
• 10Y*: 42.73%

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

SPRO vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPRO Spero Therapeutics, Inc.	-27.04%	126.21%	-29.93%	-15.03%	-89.19%	-17.43%	101.66%	56.34%	-47.66%	-11.32%
TQQQ ProShares UltraPro QQQ	42.86%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	6.89%

Correlation

The correlation between SPRO and TQQQ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Nov 2, 2017	0.26

Return for Risk

SPRO vs. TQQQ — Risk / Return Rank

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

SPRO

SPRO Risk / Return Rank: 15
SPRO Sharpe Ratio Rank: 20
SPRO Sortino Ratio Rank: 23
SPRO Omega Ratio Rank: 22
SPRO Calmar Ratio Rank: 11
SPRO Martin Ratio Rank: 0

TQQQ

TQQQ Risk / Return Rank: 50
TQQQ Sharpe Ratio Rank: 51
TQQQ Sortino Ratio Rank: 46
TQQQ Omega Ratio Rank: 48
TQQQ Calmar Ratio Rank: 53
TQQQ Martin Ratio Rank: 49

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.

SPRO vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spero Therapeutics, Inc. (SPRO) 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.

	SPRO	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	1.43	-1.99
Sortino ratio: Return per unit of downside risk	-0.47	1.90	-2.37
Omega ratio: Gain probability vs. loss probability	0.93	1.25	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.83	2.13	-2.97
Martin ratio: Return relative to average drawdown	-2.50	6.53	-9.03

SPRO vs. TQQQ - Sharpe Ratio Comparison

The current SPRO Sharpe Ratio is -0.56, which is lower than the TQQQ Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of SPRO 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

SPRO vs. TQQQ - Drawdown Comparison

The maximum SPRO drawdown since its inception was -97.46%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SPRO and TQQQ.

Drawdown Indicators

	SPRO	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-97.46%	-81.66%	-15.80%
Max Drawdown (1Y) Largest decline over 1 year	-42.95%	-36.97%	-5.98%
Max Drawdown (3Y) Largest decline over 3 years	-68.89%	-58.04%	-10.85%
Max Drawdown (5Y) Largest decline over 5 years	-97.13%	-81.66%	-15.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-92.30%	-13.79%	-78.51%
Average Drawdown Average peak-to-trough decline	-62.61%	-18.48%	-44.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.92%	12.05%	+3.87%

Volatility

SPRO vs. TQQQ - Volatility Comparison

Spero Therapeutics, Inc. (SPRO) has a higher volatility of 40.57% compared to ProShares UltraPro QQQ (TQQQ) at 23.84%. This indicates that SPRO'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

	SPRO	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.57%	23.84%	+16.73%
Volatility (6M) Calculated over the trailing 6-month period	52.69%	45.82%	+6.87%
Volatility (1Y) Calculated over the trailing 1-year period	63.53%	55.29%	+8.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	152.30%	67.76%	+84.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	124.80%	66.41%	+58.39%

Dividends

SPRO vs. TQQQ - Dividend Comparison

SPRO has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.50%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPRO Spero Therapeutics, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.50%	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 SPRO and TQQQ in my portfolio?

SPRO and TQQQ have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPRO or TQQQ?

SPRO has higher volatility (40.57%) compared to TQQQ (23.84%). In terms of maximum drawdown, SPRO dropped -97.46% vs TQQQ's -81.66%.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (1.43 vs -0.56), 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.