SRS vs. TQQQ
SRS (ProShares UltraShort Real Estate) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - SRS is a REIT fund tracking the Dow Jones U.S. Real Estate Index (-200%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, SRS returned -16.94%/yr vs 45.25%/yr for TQQQ. At a correlation of -0.49, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
SRS vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SRS achieves a -19.64% return, which is significantly lower than TQQQ's 39.27% return. Over the past 10 years, SRS has underperformed TQQQ with an annualized return of -16.94%, while TQQQ has yielded a comparatively higher 45.25% annualized return.
SRS
- 1D
- -0.10%
- 1M
- -1.96%
- YTD
- -19.64%
- 6M
- -19.15%
- 1Y
- -11.91%
- 3Y*
- -15.72%
- 5Y*
- -6.69%
- 10Y*
- -16.94%
TQQQ
- 1D
- -1.53%
- 1M
- -5.83%
- YTD
- 39.27%
- 6M
- 32.62%
- 1Y
- 89.02%
- 3Y*
- 57.21%
- 5Y*
- 21.17%
- 10Y*
- 45.25%
SRS vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -19.64% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
TQQQ ProShares UltraPro QQQ | 39.27% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between SRS and TQQQ is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.49 |
Over the past year, the inverse relationship between SRS and TQQQ has weakened: their correlation has moved from -0.49 to -0.07, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SRS vs. TQQQ — Risk / Return Rank
SRS
TQQQ
SRS vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and ProShares UltraPro QQQ (TQQQ). 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.
| SRS | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.28 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 2.42 | -2.96 |
| Martin ratioReturn relative to average drawdown | -1.17 | 7.68 | -8.84 |
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Drawdowns
SRS vs. TQQQ - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SRS and TQQQ.
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Drawdown Indicators
| SRS | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -81.66% | -18.30% |
Max Drawdown (1Y)Largest decline over 1 year | -22.21% | -36.97% | +14.76% |
Max Drawdown (3Y)Largest decline over 3 years | -52.58% | -58.04% | +5.46% |
Max Drawdown (5Y)Largest decline over 5 years | -52.58% | -81.66% | +29.08% |
Max Drawdown (10Y)Largest decline over 10 years | -86.12% | -81.66% | -4.46% |
Current DrawdownCurrent decline from peak | -99.96% | -15.96% | -84.00% |
Average DrawdownAverage peak-to-trough decline | -91.23% | -18.49% | -72.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.23% | 11.64% | -1.41% |
Volatility
SRS vs. TQQQ - Volatility Comparison
The current volatility for ProShares UltraShort Real Estate (SRS) is 10.69%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 27.27%. This indicates that SRS experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 27.27% | -16.58% |
Volatility (6M)Calculated over the trailing 6-month period | 21.28% | 43.24% | -21.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.37% | 53.35% | -24.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.73% | 67.41% | -29.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 66.31% | -25.54% |
SRS vs. TQQQ - Expense Ratio Comparison
Both SRS and TQQQ have an expense ratio of 0.95%.
Dividends
SRS vs. TQQQ - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.92%, more than TQQQ's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | 3.92% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% | 0.00% | 0.00% | 0.00% |
TQQQ ProShares UltraPro QQQ | 0.43% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
SRS and TQQQ have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (27.27%) compared to SRS (10.69%). In terms of maximum drawdown, SRS dropped -99.96% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 45.25% vs -16.94% for SRS. Both ETFs have the same 0.95% expense ratio. On volatility, SRS has been the lower-risk option at 10.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 45.25% return vs -16.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRS and TQQQ have the same expense ratio: 0.95% per year.
SRS has the higher dividend yield at 3.92%, compared with 0.43% for TQQQ.
SRS is categorized as REIT, while TQQQ is Leveraged Equities. SRS tracks Dow Jones U.S. Real Estate Index (-200%), while TQQQ tracks NASDAQ-100 Index (300%).
TQQQ currently has the higher Sharpe Ratio (1.68 vs -0.42), 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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