SPXB vs. SQQQ

Last updated Jun 4, 2026

SPXB (ProShares S&P 500 Bond ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - SPXB is a Corporate Bonds fund tracking the S&P 500 MarketAxess Investment Grade Corporate Bond Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. At a correlation of -0.19, they often move in opposite directions. SPXB charges 0.15%/yr vs 0.95%/yr for SQQQ.

Performance

SPXB vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Bond ETF (SPXB) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXB

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SQQQ

• 1D: 0.76%
• 1M: -26.37%
• YTD: -45.27%
• 6M: -42.79%
• 1Y: -65.16%
• 3Y*: -56.19%
• 5Y*: -49.17%
• 10Y*: -56.01%

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

SPXB vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPXB ProShares S&P 500 Bond ETF	0.00%	0.00%	-3.45%	8.83%	-16.66%	-1.89%	10.33%	15.34%	1.13%
SQQQ ProShares UltraPro Short QQQ	-45.27%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-2.29%

Correlation

The correlation between SPXB and SQQQ is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	-0.12
Correlation (5Y) Calculated over the trailing 5-year period	-0.22
Correlation (All Time) Calculated using the full available price history since May 4, 2018	-0.19

Return for Risk

SPXB vs. SQQQ — Risk / Return Rank

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

SQQQ

SQQQ Risk / Return Rank: 0
SQQQ Sharpe Ratio Rank: 0
SQQQ Sortino Ratio Rank: 0
SQQQ Omega Ratio Rank: 0
SQQQ Calmar Ratio Rank: 0
SQQQ Martin Ratio Rank: 0

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.

SPXB vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Bond ETF (SPXB) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPXB	SQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-1.37	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.88	—

Drawdowns

Drawdown Indicators

	SPXB	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-100.00%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-65.95%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-92.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.98%	—
Current Drawdown Current decline from peak	—	-100.00%	—
Average Drawdown Average peak-to-trough decline	—	-92.40%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	35.73%	—

Volatility

Volatility by Period

	SPXB	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	47.79%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	66.64%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	66.11%	—

SPXB vs. SQQQ - Expense Ratio Comparison

SPXB has a 0.15% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

SPXB vs. SQQQ - Dividend Comparison

SPXB has not paid dividends to shareholders, while SQQQ's dividend yield for the trailing twelve months is around 12.48%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPXB ProShares S&P 500 Bond ETF	0.00%	0.00%	1.22%	4.04%	3.14%	2.00%	2.64%	3.48%	2.52%	0.00%
SQQQ ProShares UltraPro Short QQQ	12.48%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both SPXB and SQQQ in my portfolio?

SPXB and SQQQ have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPXB or SQQQ?

On fees, SPXB is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXB or SQQQ?

SPXB is cheaper with a 0.15% expense ratio, compared with 0.95% for SQQQ.

Which ETF pays a higher dividend yield, SPXB or SQQQ?

SQQQ has the higher dividend yield at 12.48%, compared with 0.00% for SPXB.

What is the main difference between SPXB and SQQQ?

SPXB is categorized as Corporate Bonds, while SQQQ is Leveraged Equities. SPXB tracks S&P 500 MarketAxess Investment Grade Corporate Bond Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.15% for SPXB and 0.95% for SQQQ.