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SQQQ vs. TECS
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

SQQQ vs. TECS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short QQQ (SQQQ) and Direxion Daily Technology Bear 3X Shares (TECS). The values are adjusted to include any dividend payments, if applicable.

-100.00%-80.00%-60.00%-40.00%-20.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-100.00%
-100.00%
SQQQ
TECS

Returns By Period

The year-to-date returns for both stocks are quite close, with SQQQ having a -48.41% return and TECS slightly lower at -50.68%. Over the past 10 years, SQQQ has outperformed TECS with an annualized return of -52.04%, while TECS has yielded a comparatively lower -56.96% annualized return.


SQQQ

YTD

-48.41%

1M

-5.54%

6M

-30.82%

1Y

-55.19%

5Y (annualized)

-59.36%

10Y (annualized)

-52.04%

TECS

YTD

-50.68%

1M

-2.72%

6M

-32.01%

1Y

-56.59%

5Y (annualized)

-64.43%

10Y (annualized)

-56.96%

Key characteristics


SQQQTECS
Sharpe Ratio-1.07-0.88
Sortino Ratio-1.82-1.41
Omega Ratio0.800.84
Calmar Ratio-0.56-0.57
Martin Ratio-1.42-1.45
Ulcer Index39.13%39.45%
Daily Std Dev52.11%64.61%
Max Drawdown-100.00%-100.00%
Current Drawdown-100.00%-100.00%

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SQQQ vs. TECS - Expense Ratio Comparison

SQQQ has a 0.95% expense ratio, which is lower than TECS's 1.08% expense ratio.


TECS
Direxion Daily Technology Bear 3X Shares
Expense ratio chart for TECS: current value at 1.08% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.08%
Expense ratio chart for SQQQ: current value at 0.95% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.95%

Correlation

-0.50.00.51.00.9

The correlation between SQQQ and TECS is 0.89, 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.

Risk-Adjusted Performance

SQQQ vs. TECS - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Direxion Daily Technology Bear 3X Shares (TECS). 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.


Sharpe ratio
The chart of Sharpe ratio for SQQQ, currently valued at -1.07, compared to the broader market0.002.004.00-1.07-0.88
The chart of Sortino ratio for SQQQ, currently valued at -1.82, compared to the broader market-2.000.002.004.006.008.0010.0012.00-1.82-1.41
The chart of Omega ratio for SQQQ, currently valued at 0.80, compared to the broader market0.501.001.502.002.503.000.800.84
The chart of Calmar ratio for SQQQ, currently valued at -0.56, compared to the broader market0.005.0010.0015.00-0.56-0.57
The chart of Martin ratio for SQQQ, currently valued at -1.42, compared to the broader market0.0020.0040.0060.0080.00100.00-1.42-1.45
SQQQ
TECS

The current SQQQ Sharpe Ratio is -1.07, which is comparable to the TECS Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of SQQQ and TECS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio-1.30-1.20-1.10-1.00-0.90-0.80-0.70JuneJulyAugustSeptemberOctoberNovember
-1.07
-0.88
SQQQ
TECS

Dividends

SQQQ vs. TECS - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 11.33%, more than TECS's 3.35% yield.


TTM2023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ
11.33%8.01%0.28%0.00%2.15%2.92%1.47%0.14%
TECS
Direxion Daily Technology Bear 3X Shares
3.35%3.94%0.00%0.00%1.49%1.49%0.33%0.00%

Drawdowns

SQQQ vs. TECS - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, roughly equal to the maximum TECS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SQQQ and TECS. For additional features, visit the drawdowns tool.


-100.00%-100.00%-100.00%-99.99%-99.99%-99.99%JuneJulyAugustSeptemberOctoberNovember
-100.00%
-100.00%
SQQQ
TECS

Volatility

SQQQ vs. TECS - Volatility Comparison

The current volatility for ProShares UltraPro Short QQQ (SQQQ) is 16.14%, while Direxion Daily Technology Bear 3X Shares (TECS) has a volatility of 18.28%. This indicates that SQQQ experiences smaller price fluctuations and is considered to be less risky than TECS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


10.00%15.00%20.00%25.00%30.00%35.00%JuneJulyAugustSeptemberOctoberNovember
16.14%
18.28%
SQQQ
TECS