SQQQ vs. IBIT

Last updated Jul 21, 2026

SQQQ (ProShares UltraPro Short QQQ) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, SQQQ returned -51.42% vs -44.68% for IBIT. At a correlation of -0.40, they often move in opposite directions. SQQQ charges 0.95%/yr vs 0.25%/yr for IBIT.

Performance

SQQQ vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short QQQ (SQQQ) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SQQQ achieves a -36.18% return, which is significantly lower than IBIT's -25.70% return.

SQQQ

• 1D: -0.26%
• 1M: 17.99%
• 6M: -34.34%
• YTD: -36.18%
• 1Y: -51.42%
• 3Y*: -51.15%
• 5Y*: -45.04%
• 10Y*: -54.75%
• ALL TIME*: -52.82%

IBIT

• 1D: 1.49%
• 1M: 3.57%
• 6M: -31.99%
• YTD: -25.70%
• 1Y: -44.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.65%

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

SQQQ vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SQQQ ProShares UltraPro Short QQQ	-36.18%	-53.05%	-50.12%
IBIT iShares Bitcoin Trust ETF	-25.70%	-6.41%	89.87%

Correlation

The correlation between SQQQ and IBIT is -0.48, 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	-0.48
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	-0.40

Return for Risk

SQQQ vs. IBIT — Risk / Return Rank

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

SQQQ

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

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	-1.01	+0.09
Sortino ratio: Return per unit of downside risk	-1.42	-1.50	+0.07
Omega ratio: Gain probability vs. loss probability	0.85	0.83	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.84	-0.84	0.00
Martin ratio: Return relative to average drawdown	-1.53	-1.34	-0.19

SQQQ vs. IBIT - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -0.92, which is comparable to the IBIT Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of SQQQ and IBIT, 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. IBIT - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for SQQQ and IBIT.

Drawdown Indicators

	SQQQ	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-53.30%	-46.70%
Max Drawdown (1Y) Largest decline over 1 year	-61.03%	-53.30%	-7.73%
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%	-48.25%	-51.75%
Average Drawdown Average peak-to-trough decline	-92.76%	-17.81%	-74.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.69%	33.42%	+0.27%

Volatility

SQQQ vs. IBIT - Volatility Comparison

ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 21.99% compared to iShares Bitcoin Trust ETF (IBIT) at 10.67%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SQQQ	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.99%	10.67%	+11.32%
Volatility (6M) Calculated over the trailing 6-month period	46.34%	34.60%	+11.74%
Volatility (1Y) Calculated over the trailing 1-year period	56.15%	44.40%	+11.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.92%	49.85%	+18.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.60%	49.85%	+16.75%

SQQQ vs. IBIT - Expense Ratio Comparison

SQQQ has a 0.95% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

SQQQ vs. IBIT - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 9.36%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBIT iShares Bitcoin Trust 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	9.36%	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 IBIT in my portfolio?

SQQQ and IBIT have a correlation of -0.48, 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 IBIT?

SQQQ has higher volatility (21.99%) compared to IBIT (10.67%). In terms of maximum drawdown, SQQQ dropped -100.00% vs IBIT's -53.30%.

Which ETF is better, SQQQ or IBIT?

On 1-year performance, IBIT leads with -44.68% vs -51.42% for SQQQ. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 10.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQQQ or IBIT?

Over the 1-year period, IBIT has performed better with a -44.68% return vs -51.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQQQ or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.95% for SQQQ.

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

SQQQ has the higher dividend yield at 9.36%, compared with 0.00% for IBIT.

What is the main difference between SQQQ and IBIT?

SQQQ is categorized as Leveraged Equities, while IBIT is Cryptocurrency. SQQQ tracks NASDAQ-100 Index (-300%), while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SQQQ and 0.25% for IBIT.

Which has better risk-adjusted returns?

SQQQ currently has the higher Sharpe Ratio (-0.92 vs -1.01), 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.