SQQQ vs. TYO
Compare and contrast key facts about ProShares UltraPro Short QQQ (SQQQ) and Direxion Daily 7-10 Year Treasury Bear 3X (TYO).
SQQQ and TYO 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. TYO is a passively managed fund by Direxion that tracks the performance of the NYSE 7-10 Year Treasury Bond Index. It was launched on Apr 16, 2009. Both SQQQ and TYO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SQQQ vs. TYO - Performance Comparison
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Returns By Period
In the year-to-date period, SQQQ achieves a 13.75% return, which is significantly higher than TYO's 3.31% return. Over the past 10 years, SQQQ has underperformed TYO with an annualized return of -52.78%, while TYO has yielded a comparatively higher 1.01% annualized return.
SQQQ
- 1D
- -0.21%
- 1M
- 11.92%
- YTD
- 13.75%
- 6M
- 5.92%
- 1Y
- -61.46%
- 3Y*
- -49.54%
- 5Y*
- -42.72%
- 10Y*
- -52.78%
TYO
- 1D
- -0.73%
- 1M
- 5.13%
- YTD
- 3.31%
- 6M
- 5.19%
- 1Y
- 7.02%
- 3Y*
- 8.61%
- 5Y*
- 10.46%
- 10Y*
- 1.01%
SQQQ vs. TYO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 13.75% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 3.31% | -7.64% | 18.94% | 1.06% | 58.83% | 7.47% | -28.56% | -18.71% | -1.42% | -8.94% |
Correlation
The correlation between SQQQ and TYO is -0.18, 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, cushioning overall portfolio drawdowns.
SQQQ vs. TYO - Expense Ratio Comparison
SQQQ has a 0.95% expense ratio, which is lower than TYO's 1.08% expense ratio.
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Return for Risk
SQQQ vs. TYO — Risk / Return Rank
SQQQ
TYO
SQQQ vs. TYO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Direxion Daily 7-10 Year Treasury Bear 3X (TYO). 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.
| SQQQ | TYO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.82 | 0.23 | -1.05 |
Sortino ratioReturn per unit of downside risk | -1.10 | 0.44 | -1.54 |
Omega ratioGain probability vs. loss probability | 0.85 | 1.05 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | -0.75 | 0.34 | -1.08 |
Martin ratioReturn relative to average drawdown | -0.86 | 0.56 | -1.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SQQQ | TYO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.82 | 0.23 | -1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.64 | 0.45 | -1.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.80 | 0.05 | -0.85 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.85 | -0.35 | -0.49 |
Drawdowns
SQQQ vs. TYO - Drawdown Comparison
The maximum SQQQ drawdown since its inception was -100.00%, which is greater than TYO's maximum drawdown of -89.25%. Use the drawdown chart below to compare losses from any high point for SQQQ and TYO.
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Drawdown Indicators
| SQQQ | TYO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -89.25% | -10.75% |
Max Drawdown (1Y)Largest decline over 1 year | -75.23% | -11.86% | -63.37% |
Max Drawdown (5Y)Largest decline over 5 years | -95.36% | -24.40% | -70.96% |
Max Drawdown (10Y)Largest decline over 10 years | -99.96% | -52.21% | -47.75% |
Current DrawdownCurrent decline from peak | -100.00% | -78.18% | -21.82% |
Average DrawdownAverage peak-to-trough decline | -92.32% | -71.03% | -21.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.54% | 7.11% | +58.43% |
Volatility
SQQQ vs. TYO - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 19.33% compared to Direxion Daily 7-10 Year Treasury Bear 3X (TYO) at 6.00%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than TYO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SQQQ | TYO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.33% | 6.00% | +13.33% |
Volatility (6M)Calculated over the trailing 6-month period | 38.20% | 9.66% | +28.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.34% | 16.36% | +50.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.63% | 23.18% | +43.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.96% | 20.21% | +45.75% |
Dividends
SQQQ vs. TYO - Dividend Comparison
SQQQ's dividend yield for the trailing twelve months is around 6.00%, more than TYO's 2.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 6.00% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 2.95% | 3.69% | 4.22% | 3.62% | 0.09% | 0.00% | 0.36% | 1.58% | 0.32% | 0.00% |