SQQQ vs. SILJ

Last updated Jul 21, 2026

SQQQ (ProShares UltraPro Short QQQ) and SILJ (Amplify Junior Silver Miners ETF) are both exchange-traded funds - SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while SILJ is a Silver fund tracking the Nasdaq Junior Silver Miners Index. Both are passively managed. Over the past 10 years, SQQQ returned -54.75%/yr vs 5.23%/yr for SILJ. At a correlation of -0.20, they often move in opposite directions. SQQQ charges 0.95%/yr vs 0.69%/yr for SILJ.

Performance

SQQQ vs. SILJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short QQQ (SQQQ) and Amplify Junior Silver Miners ETF (SILJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SQQQ achieves a -36.18% return, which is significantly lower than SILJ's -14.24% return. Over the past 10 years, SQQQ has underperformed SILJ with an annualized return of -54.75%, while SILJ has yielded a comparatively higher 5.23% annualized return.

SQQQ

• 1D: -0.26%
• 1M: 17.99%
• 6M: -34.34%
• YTD: -36.18%
• 1Y: -51.42%
• 3Y*: -51.15%
• 5Y*: -45.04%
• 10Y*: -54.75%
• ALL TIME*: -52.82%

SILJ

• 1D: -0.25%
• 1M: -15.01%
• 6M: -29.16%
• YTD: -14.24%
• 1Y: 61.72%
• 3Y*: 36.21%
• 5Y*: 13.63%
• 10Y*: 5.23%
• ALL TIME*: 2.39%

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

SQQQ vs. SILJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SQQQ ProShares UltraPro Short QQQ	-36.18%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-58.67%
SILJ Amplify Junior Silver Miners ETF	-14.24%	183.89%	6.39%	-5.21%	-15.42%	-23.21%	33.00%	57.06%	-27.95%	-5.65%

Correlation

The correlation between SQQQ and SILJ is -0.45, 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	-0.45
Correlation (3Y) Calculated over the trailing 3-year period	-0.33
Correlation (5Y) Calculated over the trailing 5-year period	-0.30
Correlation (10Y) Calculated over the trailing 10-year period	-0.24
Correlation (All Time) Calculated using the full available price history since Nov 29, 2012	-0.20

Over the past year, the inverse relationship between SQQQ and SILJ has strengthened: their correlation has moved from -0.20 to -0.45, meaning they now move in opposite directions more often than their long-term average.

SQQQ vs. SILJ - Sectors Allocation Comparison

Sectors	SQQQ	SILJ
Financial Services	113.3%	0.3%
Basic Materials	-	99.8%
Communication Services	-	0.0%
Consumer Cyclical	-	-
Consumer Defensive	-	0.2%
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SQQQ vs. SILJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SQQQ

SQQQ Risk / Return Rank: 2
SQQQ Sharpe Ratio Rank: 2
SQQQ Sortino Ratio Rank: 2
SQQQ Omega Ratio Rank: 2
SQQQ Calmar Ratio Rank: 2
SQQQ Martin Ratio Rank: 0

SILJ

SILJ Risk / Return Rank: 37
SILJ Sharpe Ratio Rank: 39
SILJ Sortino Ratio Rank: 38
SILJ Omega Ratio Rank: 40
SILJ Calmar Ratio Rank: 38
SILJ Martin Ratio Rank: 31

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. SILJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Amplify Junior Silver Miners ETF (SILJ). 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	SILJ	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	1.07	-1.99
Sortino ratio: Return per unit of downside risk	-1.42	1.57	-3.00
Omega ratio: Gain probability vs. loss probability	0.85	1.21	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.84	1.51	-2.35
Martin ratio: Return relative to average drawdown	-1.53	3.30	-4.83

SQQQ vs. SILJ - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -0.92, which is lower than the SILJ Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SQQQ and SILJ, 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. SILJ - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, which is greater than SILJ's maximum drawdown of -79.04%. Use the drawdown chart below to compare losses from any high point for SQQQ and SILJ.

Drawdown Indicators

	SQQQ	SILJ	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-79.04%	-20.96%
Max Drawdown (1Y) Largest decline over 1 year	-61.03%	-41.12%	-19.91%
Max Drawdown (3Y) Largest decline over 3 years	-92.51%	-41.12%	-51.39%
Max Drawdown (5Y) Largest decline over 5 years	-97.27%	-48.29%	-48.98%
Max Drawdown (10Y) Largest decline over 10 years	-99.97%	-70.06%	-29.91%
Current Drawdown Current decline from peak	-100.00%	-41.12%	-58.88%
Average Drawdown Average peak-to-trough decline	-92.76%	-41.36%	-51.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.69%	18.73%	+14.96%

Volatility

SQQQ vs. SILJ - Volatility Comparison

ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 21.99% compared to Amplify Junior Silver Miners ETF (SILJ) at 13.31%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than SILJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SQQQ	SILJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.99%	13.31%	+8.68%
Volatility (6M) Calculated over the trailing 6-month period	46.34%	47.78%	-1.44%
Volatility (1Y) Calculated over the trailing 1-year period	56.15%	57.99%	-1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.92%	45.00%	+22.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.60%	46.34%	+20.26%

SQQQ vs. SILJ - Expense Ratio Comparison

SQQQ has a 0.95% expense ratio, which is higher than SILJ's 0.69% expense ratio.

Dividends

SQQQ vs. SILJ - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 9.36%, more than SILJ's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SILJ Amplify Junior Silver Miners ETF	2.34%	2.00%	7.26%	0.01%	0.05%	0.36%	1.23%	1.45%	1.66%	0.00%	0.52%	2.46%
SQQQ ProShares UltraPro Short QQQ	9.36%	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

Can I hold both SQQQ and SILJ in my portfolio?

SQQQ and SILJ have a correlation of -0.45, 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 SILJ?

SQQQ has higher volatility (21.99%) compared to SILJ (13.31%). In terms of maximum drawdown, SQQQ dropped -100.00% vs SILJ's -79.04%.

Which ETF is better, SQQQ or SILJ?

On 10-year performance, SILJ leads with 5.23% vs -54.75% for SQQQ. On fees, SILJ is cheaper at 0.69% per year. On volatility, SILJ has been the lower-risk option at 13.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQQQ or SILJ?

Over the 10-year period, SILJ has performed better with a 5.23% return vs -54.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQQQ or SILJ?

SILJ is cheaper with a 0.69% expense ratio, compared with 0.95% for SQQQ.

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

SQQQ has the higher dividend yield at 9.36%, compared with 2.34% for SILJ.

What is the main difference between SQQQ and SILJ?

SQQQ is categorized as Leveraged Equities, while SILJ is Silver. SQQQ tracks NASDAQ-100 Index (-300%), while SILJ tracks Nasdaq Junior Silver Miners Index. They also come from different issuers: ProShares and Amplify. Their fees differ too: 0.95% for SQQQ and 0.69% for SILJ.

Which has better risk-adjusted returns?

SILJ currently has the higher Sharpe Ratio (1.07 vs -0.92), 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.