SQQQ vs. TTT
SQQQ (ProShares UltraPro Short QQQ) and TTT (UltraPro Short 20+ Year Treasury) are both exchange-traded funds - SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while TTT is a Leveraged Bonds fund tracking the Barclays Capital U.S. 20+ Year Treasury Index (-300%). Both are passively managed. Over the past 10 years, SQQQ returned -55.08%/yr vs 0.59%/yr for TTT. At a correlation of -0.13, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
SQQQ vs. TTT - Performance Comparison
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Returns By Period
In the year-to-date period, SQQQ achieves a -38.86% return, which is significantly lower than TTT's 7.59% return. Over the past 10 years, SQQQ has underperformed TTT with an annualized return of -55.08%, while TTT has yielded a comparatively higher 0.59% annualized return.
SQQQ
- 1D
- 5.01%
- 1M
- 8.33%
- 6M
- -36.79%
- YTD
- -38.86%
- 1Y
- -54.36%
- 3Y*
- -50.96%
- 5Y*
- -45.88%
- 10Y*
- -55.08%
TTT
- 1D
- 0.27%
- 1M
- 7.04%
- 6M
- 11.68%
- YTD
- 7.59%
- 1Y
- -2.74%
- 3Y*
- 10.58%
- 5Y*
- 22.85%
- 10Y*
- 0.59%
SQQQ vs. TTT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | -38.86% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
TTT UltraPro Short 20+ Year Treasury | 7.59% | -7.89% | 38.07% | -11.25% | 150.17% | 2.55% | -54.12% | -34.88% | 6.34% | -25.87% |
Correlation
The correlation between SQQQ and TTT is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2012 | -0.13 |
The correlation between SQQQ and TTT shifts across timeframes, from -0.13 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SQQQ vs. TTT — Risk / Return Rank
SQQQ
TTT
SQQQ vs. TTT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and UltraPro Short 20+ Year Treasury (TTT). 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 | TTT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.01 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.13 | -0.77 |
| Martin ratioReturn relative to average drawdown | -1.63 | -0.23 | -1.40 |
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Drawdowns
SQQQ vs. TTT - Drawdown Comparison
The maximum SQQQ drawdown since its inception was -100.00%, which is greater than TTT's maximum drawdown of -94.00%. Use the drawdown chart below to compare losses from any high point for SQQQ and TTT.
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Drawdown Indicators
| SQQQ | TTT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -94.00% | -6.00% |
Max Drawdown (1Y)Largest decline over 1 year | -61.03% | -21.80% | -39.23% |
Max Drawdown (3Y)Largest decline over 3 years | -92.51% | -49.69% | -42.82% |
Max Drawdown (5Y)Largest decline over 5 years | -97.27% | -49.69% | -47.58% |
Max Drawdown (10Y)Largest decline over 10 years | -99.97% | -81.76% | -18.21% |
Current DrawdownCurrent decline from peak | -100.00% | -77.44% | -22.56% |
Average DrawdownAverage peak-to-trough decline | -92.76% | -70.41% | -22.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.36% | 12.09% | +21.27% |
Volatility
SQQQ vs. TTT - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 22.32% compared to UltraPro Short 20+ Year Treasury (TTT) at 7.56%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than TTT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SQQQ | TTT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.32% | 7.56% | +14.76% |
Volatility (6M)Calculated over the trailing 6-month period | 46.22% | 20.24% | +25.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.87% | 27.84% | +28.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.91% | 46.91% | +21.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.57% | 43.16% | +23.41% |
SQQQ vs. TTT - Expense Ratio Comparison
Both SQQQ and TTT have an expense ratio of 0.95%.
Dividends
SQQQ vs. TTT - Dividend Comparison
SQQQ's dividend yield for the trailing twelve months is around 9.77%, more than TTT's 9.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 9.77% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
TTT UltraPro Short 20+ Year Treasury | 9.01% | 9.87% | 4.86% | 12.15% | 0.34% | 0.00% | 0.29% | 1.88% | 0.44% | 0.00% |
Frequently Asked Questions
SQQQ and TTT have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (22.32%) compared to TTT (7.56%). In terms of maximum drawdown, SQQQ dropped -100.00% vs TTT's -94.00%.
On 10-year performance, TTT leads with 0.59% vs -55.08% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, TTT has been the lower-risk option at 7.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TTT has performed better with a 0.59% return vs -55.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SQQQ and TTT have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 9.77%, compared with 9.01% for TTT.
SQQQ is categorized as Leveraged Equities, while TTT is Leveraged Bonds. SQQQ tracks NASDAQ-100 Index (-300%), while TTT tracks Barclays Capital U.S. 20+ Year Treasury Index (-300%).
TTT currently has the higher Sharpe Ratio (-0.10 vs -0.98), 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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