SPXB vs. SQQQ
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. Their -0.19 correlation means they have often moved in opposite directions in the past. SPXB charges 0.15%/yr vs 0.95%/yr for SQQQ.
Performance
SPXB vs. SQQQ - Performance Comparison
Loading charts...
Returns By Period
SPXB
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SQQQ
- 1D
- -1.99%
- 1M
- 9.46%
- 6M
- -32.40%
- YTD
- -34.61%
- 1Y
- -52.32%
- 3Y*
- -49.83%
- 5Y*
- -44.46%
- 10Y*
- -54.48%
- ALL TIME*
- -52.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.40B | $2.29B | $2.66B |
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% | 1.05% |
SQQQ ProShares UltraPro Short QQQ | -34.61% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -2.18% |
Correlation
The correlation between SPXB and SQQQ is -0.19, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.21 |
Correlation (All Time) Calculated using the full available price history since May 3, 2018 | -0.19 |
The correlation between SPXB and SQQQ shifts across timeframes, from -0.21 (5 years) to -0.09 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPXB vs. SQQQ — Risk / Return Rank
SPXB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SQQQ
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.
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.
| SPXB | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.86 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.81 | — |
| Martin ratioReturn relative to average drawdown | — | -1.41 | — |
Loading charts...
Drawdowns
SPXB vs. SQQQ - Drawdown Comparison
Loading charts...
Drawdown Indicators
| SPXB | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -100.00% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -61.03% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -92.51% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.27% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.97% | — |
Current DrawdownCurrent decline from peak | — | -100.00% | — |
Average DrawdownAverage peak-to-trough decline | — | -92.78% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 35.08% | — |
Volatility
SPXB vs. SQQQ - Volatility Comparison
Loading charts...
Volatility by Period
| SPXB | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 20.82% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 48.09% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 57.98% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 68.18% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 66.74% | — |
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 9.14%.
| 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 | 9.14% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
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.
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.
SPXB is cheaper with a 0.15% expense ratio, compared with 0.95% for SQQQ.
SQQQ has the higher dividend yield at 9.14%, compared with 0.00% for SPXB.
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.
Find the right allocation for SPXB and SQQQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer