SQQQ vs. YQQQ
SQQQ (ProShares UltraPro Short QQQ) and YQQQ (YieldMax Short N100 Option Income Strategy ETF) are both exchange-traded funds - SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while YQQQ is a Derivative Income fund actively managed by YieldMax. SQQQ is passively managed, while YQQQ is actively managed. Over the past year, SQQQ returned -64.38% vs -13.84% for YQQQ. Their correlation of 0.95 suggests significant overlap in exposure. SQQQ charges 0.95%/yr vs 0.99%/yr for YQQQ.
Performance
SQQQ vs. YQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SQQQ achieves a -44.43% return, which is significantly lower than YQQQ's -8.57% return.
SQQQ
- 1D
- 1.53%
- 1M
- -22.29%
- YTD
- -44.43%
- 6M
- -42.11%
- 1Y
- -64.38%
- 3Y*
- -55.94%
- 5Y*
- -49.01%
- 10Y*
- -55.90%
YQQQ
- 1D
- 0.41%
- 1M
- -6.24%
- YTD
- -8.57%
- 6M
- -6.48%
- 1Y
- -13.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ vs. YQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | -44.43% | -53.05% | -21.00% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | -8.57% | -9.97% | -4.06% |
Correlation
The correlation between SQQQ and YQQQ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2024 | 0.95 |
The correlation between SQQQ and YQQQ has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
SQQQ vs. YQQQ — Risk / Return Rank
SQQQ
YQQQ
SQQQ vs. YQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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 | YQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 0.73 | 0.83 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.67 | -0.31 |
| Martin ratioReturn relative to average drawdown | -1.79 | -1.61 | -0.18 |
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 | YQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.35 | -1.11 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.74 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.85 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.88 | -0.76 | -0.11 |
Drawdowns
SQQQ vs. YQQQ - Drawdown Comparison
The maximum SQQQ drawdown since its inception was -100.00%, which is greater than YQQQ's maximum drawdown of -28.21%. Use the drawdown chart below to compare losses from any high point for SQQQ and YQQQ.
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Drawdown Indicators
| SQQQ | YQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -28.21% | -71.79% |
Max Drawdown (1Y)Largest decline over 1 year | -65.95% | -20.82% | -45.13% |
Max Drawdown (3Y)Largest decline over 3 years | -92.38% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -97.23% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -27.87% | -72.13% |
Average DrawdownAverage peak-to-trough decline | -92.40% | -14.25% | -78.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.96% | 8.62% | +27.34% |
Volatility
SQQQ vs. YQQQ - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 13.81% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 3.90%. This indicates that SQQQ's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SQQQ | YQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.81% | 3.90% | +9.91% |
Volatility (6M)Calculated over the trailing 6-month period | 36.46% | 9.85% | +26.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.79% | 12.50% | +35.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.61% | 16.25% | +50.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.10% | 16.25% | +49.85% |
SQQQ vs. YQQQ - Expense Ratio Comparison
SQQQ has a 0.95% expense ratio, which is lower than YQQQ's 0.99% expense ratio.
Dividends
SQQQ vs. YQQQ - Dividend Comparison
SQQQ's dividend yield for the trailing twelve months is around 12.29%, less than YQQQ's 32.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 12.29% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | 32.16% | 31.71% | 7.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, SQQQ and YQQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SQQQ has higher volatility (13.81%) compared to YQQQ (3.90%). In terms of maximum drawdown, SQQQ dropped -100.00% vs YQQQ's -28.21%.
On 1-year performance, YQQQ leads with -13.84% vs -64.38% for SQQQ. On fees, SQQQ is cheaper at 0.95% per year. On volatility, YQQQ has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, YQQQ has performed better with a -13.84% return vs -64.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SQQQ is cheaper with a 0.95% expense ratio, compared with 0.99% for YQQQ.
YQQQ has the higher dividend yield at 32.16%, compared with 12.29% for SQQQ.
SQQQ is categorized as Leveraged Equities, while YQQQ is Derivative Income. They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.95% for SQQQ and 0.99% for YQQQ.
YQQQ currently has the higher Sharpe Ratio (-1.11 vs -1.35), 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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