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SRS vs. SQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SRS vs. SQQQ

Last updated Jun 4, 2026

SRS (ProShares UltraShort Real Estate) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - SRS is a REIT fund tracking the Dow Jones U.S. Real Estate Index (-200%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, SRS returned -16.52%/yr vs -56.01%/yr for SQQQ. At a 0.50 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

SRS vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Real Estate (SRS) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SRS achieves a -14.05% return, which is significantly higher than SQQQ's -45.27% return. Over the past 10 years, SRS has outperformed SQQQ with an annualized return of -16.52%, while SQQQ has yielded a comparatively lower -56.01% annualized return.

SRS

1D
-0.27%
1M
2.82%
YTD
-14.05%
6M
-12.14%
1Y
-9.76%
3Y*
-12.75%
5Y*
-5.84%
10Y*
-16.52%

SQQQ

1D
0.76%
1M
-26.37%
YTD
-45.27%
6M
-42.79%
1Y
-65.16%
3Y*
-56.19%
5Y*
-49.17%
10Y*
-56.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SRS vs. SQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SRS
ProShares UltraShort Real Estate		-14.05%-1.45%-3.55%-18.78%54.68%-52.22%-33.05%-38.97%6.01%-18.03%
SQQQ
ProShares UltraPro Short QQQ		-45.27%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%

Correlation

The correlation between SRS and SQQQ is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2010

0.50

Over the past year, the correlation between SRS and SQQQ has dropped to 0.16 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

SRS vs. SQQQ - Sectors Allocation Comparison

Sectors
SRS
SQQQ

Financial Services

71.8%
97.1%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

SRS
71.8%
SQQQ
97.1%

Basic Materials

SRS

-

SQQQ

-

Communication Services

SRS

-

SQQQ

-

Consumer Cyclical

SRS

-

SQQQ

-

Consumer Defensive

SRS

-

SQQQ

-

Energy

SRS

-

SQQQ

-

Healthcare

SRS

-

SQQQ

-

Industrials

SRS

-

SQQQ

-

Real Estate

SRS

-

SQQQ

-

Technology

SRS

-

SQQQ

-

Utilities

SRS

-

SQQQ

-

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ProShares UltraShort Real Estate

ProShares UltraPro Short QQQ

Often compared with SRS:
SRS vs. DRVSRS vs. REKSRS vs. SPYSRS vs. SPMOSRS vs. VNQSRS vs. ARCCSRS vs. DESK
Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. UVXYSQQQ vs. SPXUSQQQ vs. QID

Return for Risk

SRS vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SRS
SRS Risk / Return Rank: 55
Overall Rank
SRS Sharpe Ratio Rank: 66
Sharpe Ratio Rank
SRS Sortino Ratio Rank: 55
Sortino Ratio Rank
SRS Omega Ratio Rank: 55
Omega Ratio Rank
SRS Calmar Ratio Rank: 55
Calmar Ratio Rank
SRS Martin Ratio Rank: 44
Martin Ratio Rank
SQQQ
SQQQ Risk / Return Rank: 00
Overall Rank
SQQQ Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 00
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 00
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 00
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 00
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SRS vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and ProShares UltraPro Short QQQ (SQQQ). 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.

SRSSQQQDifference
Sharpe ratioReturn per unit of total volatility
-0.36
-1.37

+1.01

Sortino ratioReturn per unit of downside risk
-0.36
-2.63

+2.27

Omega ratioGain probability vs. loss probability

0.96

0.72

+0.24

Calmar ratioReturn relative to maximum drawdown

-0.48

-0.99

+0.51

Martin ratioReturn relative to average drawdown

-1.08

-1.82

+0.75

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SRS vs. SQQQ - Sharpe Ratio Comparison

The current SRS Sharpe Ratio is -0.36, which is higher than the SQQQ Sharpe Ratio of -1.37. The chart below compares the historical Sharpe Ratios of SRS and SQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SRSSQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.36

-1.37

+1.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.16

-0.74

+0.58

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.41

-0.85

+0.44

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.50

-0.88

+0.38

Drawdowns

SRS vs. SQQQ - Drawdown Comparison

The maximum SRS drawdown since its inception was -99.96%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SRS and SQQQ.

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Drawdown Indicators

SRSSQQQDifference

Max Drawdown

Largest peak-to-trough decline

-99.96%

-100.00%

+0.04%

Max Drawdown (1Y)

Largest decline over 1 year

-20.53%

-65.95%

+45.42%

Max Drawdown (3Y)

Largest decline over 3 years

-51.56%

-92.38%

+40.82%

Max Drawdown (5Y)

Largest decline over 5 years

-51.56%

-97.23%

+45.67%

Max Drawdown (10Y)

Largest decline over 10 years

-85.82%

-99.98%

+14.16%

Current Drawdown

Current decline from peak

-99.96%

-100.00%

+0.04%

Average Drawdown

Average peak-to-trough decline

-91.23%

-92.40%

+1.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.08%

35.73%

-26.65%

Volatility

SRS vs. SQQQ - Volatility Comparison

The current volatility for ProShares UltraShort Real Estate (SRS) is 7.58%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.75%. This indicates that SRS experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SRSSQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.58%

13.75%

-6.17%

Volatility (6M)

Calculated over the trailing 6-month period

19.34%

36.45%

-17.11%

Volatility (1Y)

Calculated over the trailing 1-year period

27.06%

47.79%

-20.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

37.58%

66.64%

-29.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.67%

66.11%

-25.44%

SRS vs. SQQQ - Expense Ratio Comparison

Both SRS and SQQQ have an expense ratio of 0.95%.

Dividends

SRS vs. SQQQ - Dividend Comparison

SRS's dividend yield for the trailing twelve months is around 3.67%, less than SQQQ's 12.48% yield.

PositionTTM202520242023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ		12.48%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%
SRS
ProShares UltraShort Real Estate		3.67%3.61%6.06%4.49%0.30%0.00%0.19%1.80%0.47%0.00%

Frequently Asked Questions

SRS and SQQQ have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SQQQ has higher volatility (13.75%) compared to SRS (7.58%). In terms of maximum drawdown, SRS dropped -99.96% vs SQQQ's -100.00%.

On 10-year performance, SRS leads with -16.52% vs -56.01% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SRS has been the lower-risk option at 7.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SRS has performed better with a -16.52% return vs -56.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SRS and SQQQ have the same expense ratio: 0.95% per year.

SQQQ has the higher dividend yield at 12.48%, compared with 3.67% for SRS.

SRS is categorized as REIT, while SQQQ is Leveraged Equities. SRS tracks Dow Jones U.S. Real Estate Index (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).

SRS currently has the higher Sharpe Ratio (-0.36 vs -1.37), 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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