SQQQ vs. QTJL
SQQQ (ProShares UltraPro Short QQQ) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. SQQQ is passively managed, while QTJL is actively managed. Over the past 5 years, SQQQ returned -44.80%/yr vs 9.12%/yr for QTJL. Their -0.94 correlation means they have often moved in opposite directions in the past. SQQQ charges 0.95%/yr vs 0.79%/yr for QTJL.
Performance
SQQQ vs. QTJL - 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 QTJL's 4.03% 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%
QTJL
- 1D
- 1.43%
- 1M
- -0.57%
- 6M
- 2.72%
- YTD
- 4.03%
- 1Y
- 13.57%
- 3Y*
- 17.40%
- 5Y*
- 9.12%
- 10Y*
- —
- ALL TIME*
- 9.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $205.17K | $322.53K | $250.53K | |
| $2.77B | $2.43B | $2.72B |
SQQQ vs. QTJL - 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% | -35.01% |
QTJL Innovator Growth Accelerated Plus ETF - July | 4.03% | 21.07% | 16.50% | 42.39% | -30.16% | 9.36% |
Correlation
The correlation between SQQQ and QTJL is -0.88, 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. | -0.88 |
Correlation (3Y) Balances recent behavior with more history. | -0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | -0.94 |
The correlation between SQQQ and QTJL has been stable across timeframes, ranging from -0.94 to -0.88 - a consistent structural relationship.
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Return for Risk
SQQQ vs. QTJL — Risk / Return Rank
SQQQ
QTJL
SQQQ vs. QTJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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 | QTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.24 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 1.61 | -2.53 |
| Martin ratioReturn relative to average drawdown | -1.65 | 7.83 | -9.47 |
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Drawdowns
SQQQ vs. QTJL - Drawdown Comparison
The maximum SQQQ drawdown since its inception was -100.00%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for SQQQ and QTJL.
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Drawdown Indicators
| SQQQ | QTJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -33.40% | -66.60% |
Max Drawdown (1Y)Largest decline over 1 year | -59.62% | -8.48% | -51.14% |
Max Drawdown (3Y)Largest decline over 3 years | -92.51% | -22.43% | -70.08% |
Max Drawdown (5Y)Largest decline over 5 years | -97.27% | -33.40% | -63.87% |
Max Drawdown (10Y)Largest decline over 10 years | -99.97% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -3.26% | -96.74% |
Average DrawdownAverage peak-to-trough decline | -92.78% | -7.74% | -85.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.25% | 1.74% | +33.51% |
Volatility
SQQQ vs. QTJL - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 21.07% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 6.50%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SQQQ | QTJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.07% | 6.50% | +14.57% |
Volatility (6M)Calculated over the trailing 6-month period | 48.20% | 9.72% | +38.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.95% | 11.73% | +46.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.24% | 20.45% | +47.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.78% | 20.30% | +46.48% |
SQQQ vs. QTJL - Expense Ratio Comparison
SQQQ has a 0.95% expense ratio, which is higher than QTJL's 0.79% expense ratio.
Dividends
SQQQ vs. QTJL - Dividend Comparison
SQQQ's dividend yield for the trailing twelve months is around 9.64%, while QTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QTJL Innovator Growth Accelerated Plus ETF - July | 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 | 9.64% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
SQQQ and QTJL have a correlation of -0.88, 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 QTJL (6.50%). In terms of maximum drawdown, SQQQ dropped -100.00% vs QTJL's -33.40%.
On 5-year performance, QTJL leads with 9.12% vs -44.80% for SQQQ. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 6.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTJL has performed better with a 9.12% return vs -44.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTJL is cheaper with a 0.79% expense ratio, compared with 0.95% for SQQQ.
SQQQ has the higher dividend yield at 9.64%, compared with 0.00% for QTJL.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for SQQQ and 0.79% for QTJL.
QTJL currently has the higher Sharpe Ratio (1.16 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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