PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SQQQ vs. QID
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SQQQ vs. QID

Last updated Jun 14, 2026

SQQQ (ProShares UltraPro Short QQQ) and QID (ProShares UltraShort QQQ) are both Leveraged Equities funds from ProShares - SQQQ tracks the NASDAQ-100 Index (-300%) while QID tracks the NASDAQ-100 Index (-200%). Both are passively managed. Over the past 10 years, SQQQ returned -55.92%/yr vs -38.80%/yr for QID. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.95% expense ratio.

Performance

SQQQ vs. QID - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, SQQQ achieves a -41.07% return, which is significantly lower than QID's -28.29% return. Over the past 10 years, SQQQ has underperformed QID with an annualized return of -55.92%, while QID has yielded a comparatively higher -38.80% annualized return.

SQQQ

1D
-1.93%
1M
-2.51%
YTD
-41.07%
6M
-41.43%
1Y
-62.69%
3Y*
-54.00%
5Y*
-47.88%
10Y*
-55.92%

QID

1D
-1.30%
1M
-1.17%
YTD
-28.29%
6M
-28.50%
1Y
-46.21%
3Y*
-37.30%
5Y*
-31.31%
10Y*
-38.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SQQQ vs. QID - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ		-41.07%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%
QID
ProShares UltraShort QQQ		-28.29%-34.97%-34.06%-57.19%66.30%-44.93%-69.71%-49.57%-9.90%-44.00%

Correlation

The correlation between SQQQ and QID is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

1.00

Correlation (3Y)
Calculated over the trailing 3-year period

1.00

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (10Y)
Calculated over the trailing 10-year period

1.00

Correlation (All Time)
Calculated using the full available price history since Feb 11, 2010

1.00

The correlation between SQQQ and QID has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

SQQQ vs. QID - Sectors Allocation Comparison

Sectors
SQQQ
QID

Financial Services

99.9%
92.2%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

SQQQ
99.9%
QID
92.2%

Basic Materials

SQQQ

-

QID

-

Communication Services

SQQQ

-

QID

-

Consumer Cyclical

SQQQ

-

QID

-

Consumer Defensive

SQQQ

-

QID

-

Energy

SQQQ

-

QID

-

Healthcare

SQQQ

-

QID

-

Industrials

SQQQ

-

QID

-

Real Estate

SQQQ

-

QID

-

Technology

SQQQ

-

QID

-

Utilities

SQQQ

-

QID

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraPro Short QQQ

ProShares UltraShort QQQ

Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. UVXYSQQQ vs. SPXUSQQQ vs. UVIX
Often compared with QID:
QID vs. PSQQID vs. QQQQID vs. TQQQQID vs. UVXYQID vs. RWMQID vs. TZAQID vs. SPY

Return for Risk

SQQQ vs. QID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SQQQ
SQQQ Risk / Return Rank: 11
Overall Rank
SQQQ Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 00
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 11
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 11
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 11
Martin Ratio Rank
QID
QID Risk / Return Rank: 11
Overall Rank
QID Sharpe Ratio Rank: 00
Sharpe Ratio Rank
QID Sortino Ratio Rank: 00
Sortino Ratio Rank
QID Omega Ratio Rank: 11
Omega Ratio Rank
QID Calmar Ratio Rank: 11
Calmar Ratio Rank
QID Martin Ratio Rank: 00
Martin Ratio Rank
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. QID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and ProShares UltraShort QQQ (QID). 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.

SQQQQIDDifference
Sharpe ratioReturn per unit of total volatility
-1.19
-1.31

+0.11

Sortino ratioReturn per unit of downside risk
-2.19
-2.16

-0.04

Omega ratioGain probability vs. loss probability

0.77

0.77

0.00

Calmar ratioReturn relative to maximum drawdown

-0.93

-0.91

-0.02

Martin ratioReturn relative to average drawdown

-1.67

-1.74

+0.07

SQQQ vs. QID - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -1.19, which is comparable to the QID Sharpe Ratio of -1.31. The chart below compares the historical Sharpe Ratios of SQQQ and QID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

SQQQ vs. QID - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, roughly equal to the maximum QID drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for SQQQ and QID.

Loading charts...

Drawdown Indicators

SQQQQIDDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-99.99%

-0.01%

Max Drawdown (1Y)

Largest decline over 1 year

-65.71%

-49.38%

-16.33%

Max Drawdown (3Y)

Largest decline over 3 years

-92.38%

-79.41%

-12.97%

Max Drawdown (5Y)

Largest decline over 5 years

-97.23%

-88.67%

-8.56%

Max Drawdown (10Y)

Largest decline over 10 years

-99.98%

-99.37%

-0.61%

Current Drawdown

Current decline from peak

-100.00%

-99.99%

-0.01%

Average Drawdown

Average peak-to-trough decline

-92.72%

-87.00%

-5.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

36.79%

25.77%

+11.02%

Volatility

SQQQ vs. QID - Volatility Comparison

ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 21.95% compared to ProShares UltraShort QQQ (QID) at 14.77%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than QID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

SQQQQIDDifference

Volatility (1M)

Calculated over the trailing 1-month period

21.95%

14.77%

+7.18%

Volatility (6M)

Calculated over the trailing 6-month period

41.13%

27.48%

+13.65%

Volatility (1Y)

Calculated over the trailing 1-year period

51.45%

34.38%

+17.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

67.13%

45.10%

+22.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

66.37%

44.71%

+21.66%

SQQQ vs. QID - Expense Ratio Comparison

Both SQQQ and QID have an expense ratio of 0.95%.

Dividends

SQQQ vs. QID - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 11.59%, more than QID's 7.24% yield.

PositionTTM202520242023202220212020201920182017
QID
ProShares UltraShort QQQ		7.24%6.25%7.99%5.63%0.15%0.00%0.92%2.54%1.38%0.08%
SQQQ
ProShares UltraPro Short QQQ		11.59%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%

Frequently Asked Questions

With a correlation of 1.00, SQQQ and QID move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

SQQQ has higher volatility (21.95%) compared to QID (14.77%). In terms of maximum drawdown, SQQQ dropped -100.00% vs QID's -99.99%.

On 10-year performance, QID leads with -38.80% vs -55.92% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, QID has been the lower-risk option at 14.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QID has performed better with a -38.80% return vs -55.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SQQQ and QID have the same expense ratio: 0.95% per year.

SQQQ has the higher dividend yield at 11.59%, compared with 7.24% for QID.

SQQQ tracks NASDAQ-100 Index (-300%), while QID tracks NASDAQ-100 Index (-200%).

SQQQ currently has the higher Sharpe Ratio (-1.19 vs -1.31), 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.

Portfolio Optimizer

Find the right allocation for SQQQ and QID

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