PortfoliosLab logoPortfoliosLab logo

Documentation

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

SQQQ vs. SDOW

Last updated Jul 17, 2026
Documentation

SQQQ (ProShares UltraPro Short QQQ) and SDOW (ProShares UltraPro Short Dow30) are both Leveraged Equities funds from ProShares - SQQQ tracks the NASDAQ-100 Index (-300%) while SDOW tracks the Dow Jones Industrial Average (-300%). Both are passively managed. Over the past 10 years, SQQQ returned -55.08%/yr vs -37.70%/yr for SDOW. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.

Performance

SQQQ vs. SDOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short QQQ (SQQQ) and ProShares UltraPro Short Dow30 (SDOW). 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 -38.86% return, which is significantly lower than SDOW's -23.85% return. Over the past 10 years, SQQQ has underperformed SDOW with an annualized return of -55.08%, while SDOW has yielded a comparatively higher -37.70% annualized return.

SQQQ

1D
5.01%
1M
8.33%
6M
-36.79%
YTD
-38.86%
1Y
-54.36%
3Y*
-50.96%
5Y*
-45.88%
10Y*
-55.08%

SDOW

1D
0.76%
1M
-2.15%
6M
-17.28%
YTD
-23.85%
1Y
-39.38%
3Y*
-33.25%
5Y*
-25.95%
10Y*
-37.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SQQQ vs. SDOW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ		-38.86%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%
SDOW
ProShares UltraPro Short Dow30		-23.85%-33.94%-25.95%-28.78%4.00%-49.00%-66.48%-49.54%-0.30%-52.26%

Correlation

The correlation between SQQQ and SDOW is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.62

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

0.64

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

0.71

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

0.71

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

0.75

The correlation between SQQQ and SDOW shifts across timeframes, from 0.62 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

SQQQ vs. SDOW - Sectors Allocation Comparison

Sectors
SQQQ
SDOW

Financial Services

109.1%
82.6%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

SQQQ
109.1%
SDOW
82.6%

Basic Materials

SQQQ

-

SDOW

-

Communication Services

SQQQ

-

SDOW

-

Consumer Cyclical

SQQQ

-

SDOW

-

Consumer Defensive

SQQQ

-

SDOW

-

Energy

SQQQ

-

SDOW

-

Healthcare

SQQQ

-

SDOW

-

Industrials

SQQQ

-

SDOW

-

Real Estate

SQQQ

-

SDOW

-

Technology

SQQQ

-

SDOW

-

Utilities

SQQQ

-

SDOW

-

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 UltraPro Short Dow30

Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. QIDSQQQ vs. SPXUSQQQ vs. UVXY
Often compared with SDOW:
SDOW vs. UDOWSDOW vs. SPXUSDOW vs. ^DJISDOW vs. DIASDOW vs. QQQSDOW vs. DXDSDOW vs. DOG

Return for Risk

SQQQ vs. SDOW — 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: 22
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 22
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 22
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 11
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 00
Martin Ratio Rank
SDOW
SDOW Risk / Return Rank: 11
Overall Rank
SDOW Sharpe Ratio Rank: 11
Sharpe Ratio Rank
SDOW Sortino Ratio Rank: 22
Sortino Ratio Rank
SDOW Omega Ratio Rank: 22
Omega Ratio Rank
SDOW Calmar Ratio Rank: 11
Calmar Ratio Rank
SDOW Martin Ratio Rank: 11
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. SDOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and ProShares UltraPro Short Dow30 (SDOW). 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.

SQQQSDOWDifference
Sharpe ratioReturn per unit of total volatility
-0.98
-1.08

+0.10

Sortino ratioReturn per unit of downside risk
-1.58
-1.57

-0.01

Omega ratioGain probability vs. loss probability

0.83

0.82

+0.01

Calmar ratioReturn relative to maximum drawdown

-0.89

-0.89

0.00

Martin ratioReturn relative to average drawdown

-1.63

-1.54

-0.09

SQQQ vs. SDOW - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -0.98, which is comparable to the SDOW Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of SQQQ and SDOW, 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. SDOW - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, roughly equal to the maximum SDOW drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for SQQQ and SDOW.

Loading charts...

Drawdown Indicators

SQQQSDOWDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-99.97%

-0.03%

Max Drawdown (1Y)

Largest decline over 1 year

-61.03%

-44.20%

-16.83%

Max Drawdown (3Y)

Largest decline over 3 years

-92.51%

-76.85%

-15.66%

Max Drawdown (5Y)

Largest decline over 5 years

-97.27%

-84.05%

-13.22%

Max Drawdown (10Y)

Largest decline over 10 years

-99.97%

-99.21%

-0.76%

Current Drawdown

Current decline from peak

-100.00%

-99.96%

-0.04%

Average Drawdown

Average peak-to-trough decline

-92.76%

-89.63%

-3.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

33.36%

25.58%

+7.78%

Volatility

SQQQ vs. SDOW - Volatility Comparison

ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 22.32% compared to ProShares UltraPro Short Dow30 (SDOW) at 6.81%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than SDOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

SQQQSDOWDifference

Volatility (1M)

Calculated over the trailing 1-month period

22.32%

6.81%

+15.51%

Volatility (6M)

Calculated over the trailing 6-month period

46.22%

29.02%

+17.20%

Volatility (1Y)

Calculated over the trailing 1-year period

55.87%

36.58%

+19.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

67.91%

44.39%

+23.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

66.57%

52.03%

+14.54%

SQQQ vs. SDOW - Expense Ratio Comparison

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

Dividends

SQQQ vs. SDOW - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 9.77%, more than SDOW's 5.44% yield.

PositionTTM202520242023202220212020201920182017
SDOW
ProShares UltraPro Short Dow30		5.44%5.80%8.30%5.38%0.36%0.00%0.52%2.17%1.23%0.09%
SQQQ
ProShares UltraPro Short QQQ		9.77%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%

Frequently Asked Questions

SQQQ and SDOW have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SQQQ has higher volatility (22.32%) compared to SDOW (6.81%). In terms of maximum drawdown, SQQQ dropped -100.00% vs SDOW's -99.97%.

On 10-year performance, SDOW leads with -37.70% vs -55.08% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SDOW has been the lower-risk option at 6.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SDOW has performed better with a -37.70% return vs -55.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SQQQ has the higher dividend yield at 9.77%, compared with 5.44% for SDOW.

SQQQ tracks NASDAQ-100 Index (-300%), while SDOW tracks Dow Jones Industrial Average (-300%).

SQQQ currently has the higher Sharpe Ratio (-0.98 vs -1.08), 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 SDOW

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