SQQQ vs. CRMG

Last updated Jul 17, 2026

SQQQ (ProShares UltraPro Short QQQ) and CRMG (Leverage Shares 2X Long CRM Daily ETF) are both Leveraged Equities funds. SQQQ is passively managed, while CRMG is actively managed. Over the past year, SQQQ returned -54.36% vs -65.86% for CRMG. At a correlation of -0.23, they often move in opposite directions. SQQQ charges 0.95%/yr vs 0.75%/yr for CRMG.

Performance

SQQQ vs. CRMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short QQQ (SQQQ) and Leverage Shares 2X Long CRM Daily ETF (CRMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SQQQ achieves a -38.86% return, which is significantly higher than CRMG's -64.33% return.

SQQQ

• 1D: 5.01%
• 1M: 8.33%
• 6M: -36.79%
• YTD: -38.86%
• 1Y: -54.36%
• 3Y*: -50.96%
• 5Y*: -45.88%
• 10Y*: -55.08%

CRMG

• 1D: 6.77%
• 1M: 10.88%
• 6M: -53.43%
• YTD: -64.33%
• 1Y: -65.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SQQQ vs. CRMG - Yearly Performance Comparison

	2026 (YTD)	2025
SQQQ ProShares UltraPro Short QQQ	-38.86%	-66.12%
CRMG Leverage Shares 2X Long CRM Daily ETF	-64.33%	-0.29%

Correlation

The correlation between SQQQ and CRMG is -0.12, 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 (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	-0.23

The correlation between SQQQ and CRMG shifts across timeframes, from -0.23 (all time) to -0.12 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SQQQ vs. CRMG — Risk / Return Rank

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

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 2
SQQQ Sortino Ratio Rank: 2
SQQQ Omega Ratio Rank: 2
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 0

CRMG

CRMG Risk / Return Rank: 2
CRMG Sharpe Ratio Rank: 3
CRMG Sortino Ratio Rank: 2
CRMG Omega Ratio Rank: 3
CRMG Calmar Ratio Rank: 2
CRMG Martin Ratio Rank: 1

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.

SQQQ vs. CRMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Leverage Shares 2X Long CRM Daily ETF (CRMG). 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.

	SQQQ	CRMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.98	-0.85	-0.13
Sortino ratio: Return per unit of downside risk	-1.58	-1.33	-0.25
Omega ratio: Gain probability vs. loss probability	0.83	0.85	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.87	-0.02
Martin ratio: Return relative to average drawdown	-1.63	-1.45	-0.18

SQQQ vs. CRMG - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -0.98, which is comparable to the CRMG Sharpe Ratio of -0.85. The chart below compares the historical Sharpe Ratios of SQQQ and CRMG, 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

SQQQ vs. CRMG - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, which is greater than CRMG's maximum drawdown of -79.83%. Use the drawdown chart below to compare losses from any high point for SQQQ and CRMG.

Drawdown Indicators

	SQQQ	CRMG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-79.83%	-20.17%
Max Drawdown (1Y) Largest decline over 1 year	-61.03%	-75.82%	+14.79%
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 Drawdown Current decline from peak	-100.00%	-73.90%	-26.10%
Average Drawdown Average peak-to-trough decline	-92.76%	-41.04%	-51.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.36%	45.39%	-12.03%

Volatility

SQQQ vs. CRMG - Volatility Comparison

ProShares UltraPro Short QQQ (SQQQ) and Leverage Shares 2X Long CRM Daily ETF (CRMG) have volatilities of 22.32% and 23.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SQQQ	CRMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.32%	23.42%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	46.22%	64.24%	-18.02%
Volatility (1Y) Calculated over the trailing 1-year period	55.87%	77.97%	-22.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.91%	75.77%	-7.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.57%	75.77%	-9.20%

SQQQ vs. CRMG - Expense Ratio Comparison

SQQQ has a 0.95% expense ratio, which is higher than CRMG's 0.75% expense ratio.

Dividends

SQQQ vs. CRMG - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 9.77%, while CRMG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRMG Leverage Shares 2X Long CRM Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SQQQ ProShares UltraPro Short QQQ	9.77%	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 SQQQ and CRMG in my portfolio?

SQQQ and CRMG have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SQQQ or CRMG?

CRMG has higher volatility (23.42%) compared to SQQQ (22.32%). In terms of maximum drawdown, SQQQ dropped -100.00% vs CRMG's -79.83%.

Which ETF is better, SQQQ or CRMG?

On 1-year performance, SQQQ leads with -54.36% vs -65.86% for CRMG. On fees, CRMG is cheaper at 0.75% per year. On volatility, SQQQ has been the lower-risk option at 22.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQQQ or CRMG?

Over the 1-year period, SQQQ has performed better with a -54.36% return vs -65.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQQQ or CRMG?

CRMG is cheaper with a 0.75% expense ratio, compared with 0.95% for SQQQ.

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

SQQQ has the higher dividend yield at 9.77%, compared with 0.00% for CRMG.

What is the main difference between SQQQ and CRMG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for SQQQ and 0.75% for CRMG.

Which has better risk-adjusted returns?

CRMG currently has the higher Sharpe Ratio (-0.85 vs -0.98), 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.