SQQQ vs. RGLD
SQQQ (ProShares UltraPro Short QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while RGLD (Royal Gold, Inc.) is a stock. Over the past 10 years, SQQQ returned -55.01%/yr vs 10.62%/yr for RGLD. At a correlation of -0.19, they often move in opposite directions.
Performance
SQQQ vs. RGLD - Performance Comparison
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Returns By Period
In the year-to-date period, SQQQ achieves a -39.73% return, which is significantly lower than RGLD's -12.17% return. Over the past 10 years, SQQQ has underperformed RGLD with an annualized return of -55.01%, while RGLD has yielded a comparatively higher 10.62% annualized return.
SQQQ
- 1D
- -5.55%
- 1M
- 11.44%
- 6M
- -41.66%
- YTD
- -39.73%
- 1Y
- -53.42%
- 3Y*
- -52.07%
- 5Y*
- -45.43%
- 10Y*
- -55.01%
- ALL TIME*
- -52.98%
RGLD
- 1D
- 3.55%
- 1M
- -9.47%
- 6M
- -29.84%
- YTD
- -12.17%
- 1Y
- 24.26%
- 3Y*
- 18.05%
- 5Y*
- 12.13%
- 10Y*
- 10.62%
- ALL TIME*
- 15.97%
SQQQ vs. RGLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | -39.73% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
RGLD Royal Gold, Inc. | -12.17% | 70.43% | 10.39% | 8.70% | 8.51% | 0.04% | -12.13% | 44.27% | 5.53% | 31.32% |
Correlation
The correlation between SQQQ and RGLD is -0.33, 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 | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.19 |
The correlation between SQQQ and RGLD shifts across timeframes, from -0.33 (1 year) to -0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SQQQ vs. RGLD — Risk / Return Rank
SQQQ
RGLD
SQQQ vs. RGLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Royal Gold, Inc. (RGLD). 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 | RGLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.13 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 0.64 | -1.52 |
| Martin ratioReturn relative to average drawdown | -1.58 | 1.48 | -3.06 |
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Drawdowns
SQQQ vs. RGLD - Drawdown Comparison
The maximum SQQQ drawdown since its inception was -100.00%, roughly equal to the maximum RGLD drawdown of -98.29%. Use the drawdown chart below to compare losses from any high point for SQQQ and RGLD.
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Drawdown Indicators
| SQQQ | RGLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -98.29% | -1.71% |
Max Drawdown (1Y)Largest decline over 1 year | -61.03% | -38.17% | -22.86% |
Max Drawdown (3Y)Largest decline over 3 years | -92.51% | -38.17% | -54.34% |
Max Drawdown (5Y)Largest decline over 5 years | -97.27% | -40.73% | -56.54% |
Max Drawdown (10Y)Largest decline over 10 years | -99.97% | -49.55% | -50.42% |
Current DrawdownCurrent decline from peak | -100.00% | -35.97% | -64.03% |
Average DrawdownAverage peak-to-trough decline | -92.76% | -29.83% | -62.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.87% | 16.44% | +17.43% |
Volatility
SQQQ vs. RGLD - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 21.47% compared to Royal Gold, Inc. (RGLD) at 9.28%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than RGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SQQQ | RGLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.47% | 9.28% | +12.19% |
Volatility (6M)Calculated over the trailing 6-month period | 46.64% | 32.04% | +14.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.29% | 39.43% | +16.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.96% | 31.71% | +36.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.62% | 33.63% | +32.99% |
Dividends
SQQQ vs. RGLD - Dividend Comparison
SQQQ's dividend yield for the trailing twelve months is around 9.91%, more than RGLD's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RGLD Royal Gold, Inc. | 0.97% | 0.81% | 1.21% | 1.24% | 1.24% | 1.14% | 1.05% | 0.87% | 1.17% | 1.17% | 1.45% | 1.81% |
SQQQ ProShares UltraPro Short QQQ | 9.91% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% | 0.00% | 0.00% |
Frequently Asked Questions
SQQQ and RGLD have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (21.47%) compared to RGLD (9.28%). In terms of maximum drawdown, SQQQ dropped -100.00% vs RGLD's -98.29%.
RGLD currently has the higher Sharpe Ratio (0.62 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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