SQQQ vs. SPXS
Compare and contrast key facts about ProShares UltraPro Short QQQ (SQQQ) and Direxion Daily S&P 500 Bear 3X Shares (SPXS).
SQQQ and SPXS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. SPXS is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (-300%). It was launched on Nov 5, 2008. Both SQQQ and SPXS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SQQQ or SPXS.
Key characteristics
| SQQQ | SPXS | |
|---|---|---|
| YTD Return | -50.78% | -46.10% |
| 1Y Return | -61.24% | -56.90% |
| 3Y Return (Ann) | -39.55% | -28.64% |
| 5Y Return (Ann) | -59.81% | -46.79% |
| 10Y Return (Ann) | -52.50% | -40.00% |
| Sharpe Ratio | -1.17 | -1.56 |
| Sortino Ratio | -2.12 | -2.81 |
| Omega Ratio | 0.77 | 0.70 |
| Calmar Ratio | -0.61 | -0.57 |
| Martin Ratio | -1.49 | -1.47 |
| Ulcer Index | 40.86% | 38.61% |
| Daily Std Dev | 51.94% | 36.41% |
| Max Drawdown | -100.00% | -100.00% |
| Current Drawdown | -100.00% | -100.00% |
Correlation
The correlation between SQQQ and SPXS is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SQQQ vs. SPXS - Performance Comparison
In the year-to-date period, SQQQ achieves a -50.78% return, which is significantly lower than SPXS's -46.10% return. Over the past 10 years, SQQQ has underperformed SPXS with an annualized return of -52.50%, while SPXS has yielded a comparatively higher -40.00% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SQQQ vs. SPXS - Expense Ratio Comparison
SQQQ has a 0.95% expense ratio, which is lower than SPXS's 1.08% expense ratio.
Risk-Adjusted Performance
SQQQ vs. SPXS - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Direxion Daily S&P 500 Bear 3X Shares (SPXS). 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.
Dividends
SQQQ vs. SPXS - Dividend Comparison
SQQQ's dividend yield for the trailing twelve months is around 10.00%, more than SPXS's 7.40% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 10.00% | 8.01% | 0.06% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 7.40% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% | 0.00% |
Drawdowns
SQQQ vs. SPXS - Drawdown Comparison
The maximum SQQQ drawdown since its inception was -100.00%, roughly equal to the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SQQQ and SPXS. For additional features, visit the drawdowns tool.
Volatility
SQQQ vs. SPXS - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 15.44% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 11.85%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.