SQQQ vs. QQMG

Last updated Aug 4, 2026

SQQQ (ProShares UltraPro Short QQQ) and QQMG (Invesco ESG NASDAQ 100 ETF) are both exchange-traded funds - SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while QQMG is a Nasdaq-100 fund tracking the Nasdaq-100 ESG Total Return Index. Both are passively managed. Over the past 3 years, SQQQ returned -52.10%/yr vs 25.22%/yr for QQMG. Their -0.99 correlation means they have often moved in opposite directions in the past. SQQQ charges 0.95%/yr vs 0.20%/yr for QQMG.

Performance

SQQQ vs. QQMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short QQQ (SQQQ) and Invesco ESG NASDAQ 100 ETF (QQMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SQQQ achieves a -38.05% return, which is significantly lower than QQMG's 15.21% return.

SQQQ

• 1D: -5.26%
• 1M: 3.70%
• 6M: -34.63%
• YTD: -38.05%
• 1Y: -54.82%
• 3Y*: -52.10%
• 5Y*: -44.80%
• 10Y*: -54.51%
• ALL TIME*: -52.82%

QQMG

• 1D: 1.38%
• 1M: -1.47%
• 6M: 13.38%
• YTD: 15.21%
• 1Y: 28.64%
• 3Y*: 25.22%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.36%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQMG Invesco ESG NASDAQ 100 ETF	$889.68K	$1.27M	$1.12M
SQQQ ProShares UltraPro Short QQQ	$2.77B	$2.43B	$2.72B

SQQQ vs. QQMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SQQQ ProShares UltraPro Short QQQ	-38.05%	-53.05%	-49.79%	-73.61%	82.40%	-16.69%
QQMG Invesco ESG NASDAQ 100 ETF	15.21%	22.16%	25.66%	55.00%	-31.56%	5.26%

Correlation

The correlation between SQQQ and QQMG is -0.99, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.99
Correlation (3Y) Balances recent behavior with more history.	-0.99
Correlation (All Time) Calculated using the full available price history since Oct 28, 2021	-0.99

The correlation between SQQQ and QQMG has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.

SQQQ vs. QQMG - Sectors Allocation Comparison

Sectors	SQQQ	QQMG
Financial Services	89.7%	0.2%
Basic Materials	-	1.4%
Communication Services	-	11.8%
Consumer Cyclical	-	10.6%
Consumer Defensive	-	5.2%
Energy	-	-
Healthcare	-	3.3%
Industrials	-	1.2%
Real Estate	-	0.1%
Technology	-	66.2%
Utilities	-	0.2%

Return for Risk

SQQQ vs. QQMG — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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

QQMG

QQMG Risk / Return Rank: 58
QQMG Sharpe Ratio Rank: 59
QQMG Sortino Ratio Rank: 56
QQMG Omega Ratio Rank: 54
QQMG Calmar Ratio Rank: 63
QQMG Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SQQQ vs. QQMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Invesco ESG NASDAQ 100 ETF (QQMG). 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	QQMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.95	1.44	-2.39
Sortino ratio: Return per unit of downside risk	-1.51	1.99	-3.50
Omega ratio: Gain probability vs. loss probability	0.84	1.25	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.92	2.27	-3.19
Martin ratio: Return relative to average drawdown	-1.65	7.21	-8.86

SQQQ vs. QQMG - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -0.95, which is lower than the QQMG Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of SQQQ and QQMG, 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. QQMG - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, which is greater than QQMG's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for SQQQ and QQMG.

Drawdown Indicators

	SQQQ	QQMG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-35.43%	-64.57%
Max Drawdown (1Y) Largest decline over 1 year	-59.62%	-12.67%	-46.95%
Max Drawdown (3Y) Largest decline over 3 years	-92.51%	-22.79%	-69.72%
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%	-5.85%	-94.15%
Average Drawdown Average peak-to-trough decline	-92.78%	-9.43%	-83.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.25%	3.98%	+31.27%

Volatility

SQQQ vs. QQMG - Volatility Comparison

ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 21.07% compared to Invesco ESG NASDAQ 100 ETF (QQMG) at 7.17%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than QQMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SQQQ	QQMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.07%	7.17%	+13.90%
Volatility (6M) Calculated over the trailing 6-month period	48.20%	16.61%	+31.59%
Volatility (1Y) Calculated over the trailing 1-year period	57.95%	20.06%	+37.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.24%	23.80%	+44.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.78%	23.80%	+42.98%

SQQQ vs. QQMG - Expense Ratio Comparison

SQQQ has a 0.95% expense ratio, which is higher than QQMG's 0.20% expense ratio.

Dividends

SQQQ vs. QQMG - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 9.64%, more than QQMG's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQMG Invesco ESG NASDAQ 100 ETF	0.37%	0.41%	0.50%	0.60%	0.82%	0.08%	0.00%	0.00%	0.00%	0.00%
SQQQ ProShares UltraPro Short QQQ	9.64%	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 QQMG in my portfolio?

SQQQ and QQMG have a correlation of -0.99, 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 QQMG?

SQQQ has higher volatility (21.07%) compared to QQMG (7.17%). In terms of maximum drawdown, SQQQ dropped -100.00% vs QQMG's -35.43%.

Which ETF is better, SQQQ or QQMG?

On 3-year performance, QQMG leads with 25.22% vs -52.10% for SQQQ. On fees, QQMG is cheaper at 0.20% per year. On volatility, QQMG has been the lower-risk option at 7.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQQQ or QQMG?

Over the 3-year period, QQMG has performed better with a 25.22% return vs -52.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQQQ or QQMG?

QQMG is cheaper with a 0.20% expense ratio, compared with 0.95% for SQQQ.

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

SQQQ has the higher dividend yield at 9.64%, compared with 0.37% for QQMG.

What is the main difference between SQQQ and QQMG?

SQQQ is categorized as Leveraged Equities, while QQMG is Nasdaq-100. SQQQ tracks NASDAQ-100 Index (-300%), while QQMG tracks Nasdaq-100 ESG Total Return Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for SQQQ and 0.20% for QQMG.

Which has better risk-adjusted returns?

QQMG currently has the higher Sharpe Ratio (1.44 vs -0.95), 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.