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SQQQ vs. SRTY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SQQQ vs. SRTY

Last updated Aug 4, 2026
Documentation

SQQQ (ProShares UltraPro Short QQQ) and SRTY (ProShares UltraPro Short Russell2000) are both Leveraged Equities funds from ProShares - SQQQ tracks the NASDAQ-100 Index (-300%) while SRTY tracks the Russell 2000 Index (-300%). Both are passively managed. Over the past 10 years, SQQQ returned -54.51%/yr vs -42.99%/yr for SRTY. Their 0.74 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.

Performance

SQQQ vs. SRTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short QQQ (SQQQ) and ProShares UltraPro Short Russell2000 (SRTY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SQQQ achieves a -38.05% return, which is significantly higher than SRTY's -46.25% return. Over the past 10 years, SQQQ has underperformed SRTY with an annualized return of -54.51%, while SRTY has yielded a comparatively higher -42.99% annualized return.

SQQQ

1D
-5.26%
1M
3.70%
6M
-34.63%
YTD
-38.05%
1Y
-54.82%
3Y*
-52.10%
5Y*
-44.80%
10Y*
-54.51%
ALL TIME*
-52.82%

SRTY

1D
-5.09%
1M
1.45%
6M
-35.07%
YTD
-46.25%
1Y
-65.93%
3Y*
-43.21%
5Y*
-33.26%
10Y*
-42.99%
ALL TIME*
-45.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SQQQ

ProShares UltraPro Short QQQ
$2.77B$2.43B$2.72B

SRTY

ProShares UltraPro Short Russell2000
$40.83M$38.19M$66.40M

SQQQ vs. SRTY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ		-38.05%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%
SRTY
ProShares UltraPro Short Russell2000		-46.25%-40.55%-32.91%-42.02%28.99%-51.67%-80.61%-53.83%23.37%-38.31%

Correlation

The correlation between SQQQ and SRTY is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.71

Correlation (3Y)
Balances recent behavior with more history.

0.66

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.73

Correlation (10Y)
Provides a long-term view across more market conditions.

0.68

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

0.74

The correlation between SQQQ and SRTY has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.

SQQQ vs. SRTY - Sectors Allocation Comparison

Sectors
SQQQ
SRTY

Financial Services

89.7%
40.7%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

SQQQ
89.7%
SRTY
40.7%

Basic Materials

SQQQ

-

SRTY

-

Communication Services

SQQQ

-

SRTY

-

Consumer Cyclical

SQQQ

-

SRTY

-

Consumer Defensive

SQQQ

-

SRTY

-

Energy

SQQQ

-

SRTY

-

Healthcare

SQQQ

-

SRTY

-

Industrials

SQQQ

-

SRTY

-

Real Estate

SQQQ

-

SRTY

-

Technology

SQQQ

-

SRTY

-

Utilities

SQQQ

-

SRTY

-

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 Russell2000

Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. SPXUSQQQ vs. QIDSQQQ vs. UVXY
Often compared with SRTY:
SRTY vs. TZASRTY vs. URTYSRTY vs. YANGSRTY vs. HIBSSRTY vs. SDOWSRTY vs. SPYSRTY vs. UPRO

Return for Risk

SQQQ vs. SRTY — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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
SRTY
SRTY Risk / Return Rank: 00
Overall Rank
SRTY Sharpe Ratio Rank: 11
Sharpe Ratio Rank
SRTY Sortino Ratio Rank: 00
Sortino Ratio Rank
SRTY Omega Ratio Rank: 11
Omega Ratio Rank
SRTY Calmar Ratio Rank: 00
Calmar Ratio Rank
SRTY Martin Ratio Rank: 00
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SQQQ vs. SRTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and ProShares UltraPro Short Russell2000 (SRTY). 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.

SQQQSRTYDifference
Sharpe ratioReturn per unit of total volatility
-0.95
-1.15

+0.19

Sortino ratioReturn per unit of downside risk
-1.51
-2.05

+0.54

Omega ratioGain probability vs. loss probability

0.84

0.78

+0.06

Calmar ratioReturn relative to maximum drawdown

-0.92

-1.01

+0.09

Martin ratioReturn relative to average drawdown

-1.65

-1.52

-0.12

SQQQ vs. SRTY - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -0.95, which is comparable to the SRTY Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of SQQQ and SRTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SQQQ vs. SRTY - Drawdown Comparison

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

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Drawdown Indicators

SQQQSRTYDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-100.00%

0.00%

Max Drawdown (1Y)

Largest decline over 1 year

-59.62%

-65.19%

+5.57%

Max Drawdown (3Y)

Largest decline over 3 years

-92.51%

-89.67%

-2.84%

Max Drawdown (5Y)

Largest decline over 5 years

-97.27%

-92.04%

-5.23%

Max Drawdown (10Y)

Largest decline over 10 years

-99.97%

-99.70%

-0.27%

Current Drawdown

Current decline from peak

-100.00%

-100.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-92.78%

-94.18%

+1.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

35.25%

46.51%

-11.26%

Volatility

SQQQ vs. SRTY - Volatility Comparison

ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 21.07% compared to ProShares UltraPro Short Russell2000 (SRTY) at 12.60%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than SRTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SQQQSRTYDifference

Volatility (1M)

Calculated over the trailing 1-month period

21.07%

12.60%

+8.47%

Volatility (6M)

Calculated over the trailing 6-month period

48.20%

42.56%

+5.64%

Volatility (1Y)

Calculated over the trailing 1-year period

57.95%

57.81%

+0.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

68.24%

67.35%

+0.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

66.78%

68.30%

-1.52%

SQQQ vs. SRTY - Expense Ratio Comparison

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

Dividends

SQQQ vs. SRTY - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 9.64%, more than SRTY's 8.54% yield.

PositionTTM202520242023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ		9.64%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%
SRTY
ProShares UltraPro Short Russell2000		8.54%6.87%9.40%4.93%0.17%0.00%0.95%2.13%0.70%0.04%

Frequently Asked Questions

SQQQ and SRTY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SQQQ has higher volatility (21.07%) compared to SRTY (12.60%). In terms of maximum drawdown, SQQQ dropped -100.00% vs SRTY's -100.00%.

On 10-year performance, SRTY leads with -42.99% vs -54.51% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SRTY has been the lower-risk option at 12.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SRTY has performed better with a -42.99% return vs -54.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SQQQ has the higher dividend yield at 9.64%, compared with 8.54% for SRTY.

SQQQ tracks NASDAQ-100 Index (-300%), while SRTY tracks Russell 2000 Index (-300%).

SQQQ currently has the higher Sharpe Ratio (-0.95 vs -1.15), 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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