SQQQ vs. SLV
SQQQ (ProShares UltraPro Short QQQ) and SLV (iShares Silver Trust) are both exchange-traded funds - SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, SQQQ returned -56.24%/yr vs 12.68%/yr for SLV. At a correlation of -0.17, they often move in opposite directions. SQQQ charges 0.95%/yr vs 0.50%/yr for SLV.
Performance
SQQQ vs. SLV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SQQQ achieves a -40.31% return, which is significantly lower than SLV's -13.49% return. Over the past 10 years, SQQQ has underperformed SLV with an annualized return of -56.24%, while SLV has yielded a comparatively higher 12.68% annualized return.
SQQQ
- 1D
- 9.83%
- 1M
- -2.27%
- YTD
- -40.31%
- 6M
- -37.80%
- 1Y
- -61.11%
- 3Y*
- -53.86%
- 5Y*
- -46.89%
- 10Y*
- -56.24%
SLV
- 1D
- -5.40%
- 1M
- -18.48%
- YTD
- -13.49%
- 6M
- -14.05%
- 1Y
- 69.08%
- 3Y*
- 39.38%
- 5Y*
- 18.31%
- 10Y*
- 12.68%
SQQQ vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | -40.31% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
SLV iShares Silver Trust | -13.49% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between SQQQ and SLV is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
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 | -0.17 |
The correlation between SQQQ and SLV shifts across timeframes, from -0.32 (1 year) to -0.17 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SQQQ vs. SLV — Risk / Return Rank
SQQQ
SLV
SQQQ vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.29 | ||
| Sortino ratioReturn per unit of downside risk | -3.62 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.25 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 1.47 | -2.43 |
| Martin ratioReturn relative to average drawdown | -1.81 | 3.16 | -4.97 |
Loading charts...
Drawdowns
SQQQ vs. SLV - Drawdown Comparison
The maximum SQQQ drawdown since its inception was -100.00%, which is greater than SLV's maximum drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SQQQ and SLV.
Loading charts...
Drawdown Indicators
| SQQQ | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -76.28% | -23.72% |
Max Drawdown (1Y)Largest decline over 1 year | -63.52% | -47.23% | -16.29% |
Max Drawdown (3Y)Largest decline over 3 years | -92.51% | -47.23% | -45.28% |
Max Drawdown (5Y)Largest decline over 5 years | -97.27% | -47.23% | -50.04% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -47.23% | -52.75% |
Current DrawdownCurrent decline from peak | -100.00% | -47.23% | -52.77% |
Average DrawdownAverage peak-to-trough decline | -92.73% | -44.65% | -48.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.37% | 21.91% | +14.46% |
Volatility
SQQQ vs. SLV - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 26.69% compared to iShares Silver Trust (SLV) at 14.34%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SQQQ | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.69% | 14.34% | +12.35% |
Volatility (6M)Calculated over the trailing 6-month period | 43.33% | 59.27% | -15.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.65% | 60.33% | -6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.53% | 36.59% | +30.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.47% | 32.09% | +34.38% |
SQQQ vs. SLV - Expense Ratio Comparison
SQQQ has a 0.95% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
SQQQ vs. SLV - Dividend Comparison
SQQQ's dividend yield for the trailing twelve months is around 11.44%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | 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 | 11.44% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
SQQQ and SLV have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.69%) compared to SLV (14.34%). In terms of maximum drawdown, SQQQ dropped -100.00% vs SLV's -76.28%.
On 10-year performance, SLV leads with 12.68% vs -56.24% for SQQQ. On fees, SLV is cheaper at 0.50% per year. On volatility, SLV has been the lower-risk option at 14.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLV has performed better with a 12.68% return vs -56.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.95% for SQQQ.
SQQQ has the higher dividend yield at 11.44%, compared with 0.00% for SLV.
SQQQ is categorized as Leveraged Equities, while SLV is Silver. SQQQ tracks NASDAQ-100 Index (-300%), while SLV tracks LBMA Silver Price. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SQQQ and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (1.15 vs -1.14), 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.
Find the right allocation for SQQQ and SLV
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