SPXB vs. TQQQ

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares S&P 500 Bond ETF (SPXB) and ProShares UltraPro QQQ (TQQQ).

SPXB and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPXB is a passively managed fund by ProShares that tracks the performance of the S&P 500 MarketAxess Investment Grade Corporate Bond Index. It was launched on May 1, 2018. TQQQ 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 SPXB and TQQQ 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

SPXB vs. TQQQ - 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 QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

SPXB vs. TQQQ - 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%
TQQQ ProShares UltraPro QQQ	-17.87%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-23.47%

Returns By Period

SPXB

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

TQQQ

• 1D: 3.72%
• 1M: -12.88%
• YTD: -17.87%
• 6M: -17.28%
• 1Y: 48.52%
• 3Y*: 46.87%
• 5Y*: 13.55%
• 10Y*: 35.31%

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

SPXB vs. TQQQ - Expense Ratio Comparison

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

TQQQ

ProShares UltraPro QQQ

SPXB

ProShares S&P 500 Bond ETF

Return for Risk

SPXB vs. TQQQ — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 47
TQQQ Sharpe Ratio Rank: 37
TQQQ Sortino Ratio Rank: 51
TQQQ Omega Ratio Rank: 50
TQQQ Calmar Ratio Rank: 53
TQQQ Martin Ratio Rank: 44

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. TQQQ - 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 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.

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

Sharpe Ratios by Period

	SPXB	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.72	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.65	—

Correlation

The correlation between SPXB and TQQQ is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SPXB vs. TQQQ - Dividend Comparison

SPXB has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.73%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.73%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Drawdowns

Drawdown Indicators

	SPXB	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-81.66%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-36.97%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	—	-28.08%	—
Average Drawdown Average peak-to-trough decline	—	-18.66%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.13%	—

Volatility

Volatility by Period

	SPXB	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	38.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	67.35%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	66.53%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	65.83%	—