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 -59.41% vs -11.10% 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 -40.98% return, which is significantly lower than YQQQ's -6.68% return.
SQQQ
- 1D
- -2.42%
- 1M
- 2.09%
- YTD
- -40.98%
- 6M
- -38.01%
- 1Y
- -59.41%
- 3Y*
- -54.63%
- 5Y*
- -47.03%
- 10Y*
- -56.54%
YQQQ
- 1D
- 0.00%
- 1M
- 0.95%
- YTD
- -6.68%
- 6M
- -5.48%
- 1Y
- -11.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ vs. YQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | -40.98% | -53.05% | -26.93% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | -6.68% | -9.97% | -5.17% |
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 15, 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.
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 | YQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.88 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.51 | -0.45 |
| Martin ratioReturn relative to average drawdown | -1.84 | -1.29 | -0.55 |
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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 -29.10%. 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% | -29.10% | -70.90% |
Max Drawdown (1Y)Largest decline over 1 year | -62.23% | -21.80% | -40.43% |
Max Drawdown (3Y)Largest decline over 3 years | -92.51% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -97.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -26.38% | -73.62% |
Average DrawdownAverage peak-to-trough decline | -92.73% | -14.62% | -78.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.76% | 8.81% | +24.95% |
Volatility
SQQQ vs. YQQQ - Volatility Comparison
ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 26.22% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 5.98%. 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 | 26.22% | 5.98% | +20.24% |
Volatility (6M)Calculated over the trailing 6-month period | 43.25% | 11.17% | +32.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.47% | 13.59% | +39.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.54% | 16.56% | +50.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.45% | 16.56% | +49.89% |
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 10.12%, less than YQQQ's 30.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 10.12% | 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 | 30.57% | 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 (26.22%) compared to YQQQ (5.98%). In terms of maximum drawdown, SQQQ dropped -100.00% vs YQQQ's -29.10%.
On 1-year performance, YQQQ leads with -11.10% vs -59.41% for SQQQ. On fees, SQQQ is cheaper at 0.95% per year. On volatility, YQQQ has been the lower-risk option at 5.98%. 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 -11.10% return vs -59.41%. 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 30.57%, compared with 10.12% 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 (-0.82 vs -1.11), 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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