SQQQ vs. QQQI
SQQQ (ProShares UltraPro Short QQQ) and QQQI (NEOS Nasdaq-100 High Income ETF) are both exchange-traded funds - SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while QQQI is a Nasdaq-100 fund actively managed by Neos. SQQQ is passively managed, while QQQI is actively managed. Over the past year, SQQQ returned -54.82% vs 19.72% for QQQI. Their -0.98 correlation means they have often moved in opposite directions in the past. SQQQ charges 0.95%/yr vs 0.68%/yr for QQQI.
Performance
SQQQ vs. QQQI - Performance Comparison
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Returns By Period
In the year-to-date period, SQQQ achieves a -38.05% return, which is significantly lower than QQQI's 8.51% 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%
QQQI
- 1D
- 1.51%
- 1M
- -1.62%
- 6M
- 6.55%
- YTD
- 8.51%
- 1Y
- 19.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $330.38M | $327.04M | $357.36M | |
| $2.77B | $2.43B | $2.72B |
SQQQ vs. QQQI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | -38.05% | -53.05% | -42.91% |
QQQI NEOS Nasdaq-100 High Income ETF | 8.51% | 18.62% | 19.44% |
Correlation
The correlation between SQQQ and QQQI 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 (All Time) Calculated using the full available price history since Jan 30, 2024 | -0.98 |
The correlation between SQQQ and QQQI has been stable across timeframes, ranging from -0.99 to -0.98 - a consistent structural relationship.
SQQQ vs. QQQI - Sectors Allocation Comparison
Sectors
SQQQ
QQQI
Financial Services
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Healthcare
-
Industrials
-
Real Estate
-
Technology
-
Utilities
-
Financial Services
SQQQ
QQQI
Basic Materials
SQQQ
-
QQQI
Communication Services
SQQQ
-
QQQI
Consumer Cyclical
SQQQ
-
QQQI
Consumer Defensive
SQQQ
-
QQQI
Energy
SQQQ
-
QQQI
Healthcare
SQQQ
-
QQQI
Industrials
SQQQ
-
QQQI
Real Estate
SQQQ
-
QQQI
Technology
SQQQ
-
QQQI
Utilities
SQQQ
-
QQQI
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Return for Risk
SQQQ vs. QQQI — Risk / Return Rank
SQQQ
QQQI
SQQQ vs. QQQI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and NEOS Nasdaq-100 High Income ETF (QQQI). 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 | QQQI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -3.22 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.22 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.06 | -2.98 |
| Martin ratioReturn relative to average drawdown | -1.65 | 7.38 | -9.03 |
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Drawdowns
SQQQ vs. QQQI - Drawdown Comparison
The maximum SQQQ drawdown since its inception was -100.00%, which is greater than QQQI's maximum drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for SQQQ and QQQI.
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Drawdown Indicators
| SQQQ | QQQI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -20.00% | -80.00% |
Max Drawdown (1Y)Largest decline over 1 year | -59.62% | -9.61% | -50.01% |
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 DrawdownCurrent decline from peak | -100.00% | -4.50% | -95.50% |
Average DrawdownAverage peak-to-trough decline | -92.78% | -2.28% | -90.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.25% | 2.68% | +32.57% |
Volatility
SQQQ vs. QQQI - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 21.07% compared to NEOS Nasdaq-100 High Income ETF (QQQI) at 6.60%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than QQQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SQQQ | QQQI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.07% | 6.60% | +14.47% |
Volatility (6M)Calculated over the trailing 6-month period | 48.20% | 13.71% | +34.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.95% | 16.35% | +41.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.24% | 17.76% | +50.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.78% | 17.76% | +49.02% |
SQQQ vs. QQQI - Expense Ratio Comparison
SQQQ has a 0.95% expense ratio, which is higher than QQQI's 0.68% expense ratio.
Dividends
SQQQ vs. QQQI - Dividend Comparison
SQQQ's dividend yield for the trailing twelve months is around 9.64%, less than QQQI's 14.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QQQI NEOS Nasdaq-100 High Income ETF | 14.16% | 13.82% | 12.85% | 0.00% | 0.00% | 0.00% | 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
SQQQ and QQQI 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.
SQQQ has higher volatility (21.07%) compared to QQQI (6.60%). In terms of maximum drawdown, SQQQ dropped -100.00% vs QQQI's -20.00%.
On 1-year performance, QQQI leads with 19.72% vs -54.82% for SQQQ. On fees, QQQI is cheaper at 0.68% per year. On volatility, QQQI has been the lower-risk option at 6.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QQQI has performed better with a 19.72% return vs -54.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQI is cheaper with a 0.68% expense ratio, compared with 0.95% for SQQQ.
QQQI has the higher dividend yield at 14.16%, compared with 9.64% for SQQQ.
SQQQ is categorized as Leveraged Equities, while QQQI is Nasdaq-100. They also come from different issuers: ProShares and Neos. Their fees differ too: 0.95% for SQQQ and 0.68% for QQQI.
QQQI currently has the higher Sharpe Ratio (1.21 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.
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