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SSG vs. SQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SSG vs. SQQQ

Last updated Jun 24, 2026

SSG (Proshares Ultrashort Semiconductors) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - SSG tracks the Dow Jones U.S. Semiconductors Index (-200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, SSG returned -62.09%/yr vs -56.24%/yr for SQQQ. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

SSG vs. SQQQ - Performance Comparison

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

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Returns By Period

In the year-to-date period, SSG achieves a -58.97% return, which is significantly lower than SQQQ's -40.31% return. Over the past 10 years, SSG has underperformed SQQQ with an annualized return of -62.09%, while SQQQ has yielded a comparatively higher -56.24% annualized return.

SSG

1D
12.02%
1M
-11.92%
YTD
-58.97%
6M
-57.87%
1Y
-78.94%
3Y*
-74.04%
5Y*
-66.24%
10Y*
-62.09%

SQQQ

1D
9.83%
1M
-2.27%
YTD
-40.31%
6M
-37.80%
1Y
-61.11%
3Y*
-53.86%
5Y*
-46.89%
10Y*
-56.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SSG vs. SQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SSG
Proshares Ultrashort Semiconductors		-58.97%-70.03%-77.59%-78.69%37.90%-67.46%-76.50%-63.33%-0.79%-51.60%
SQQQ
ProShares UltraPro Short QQQ		-40.31%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%

Correlation

The correlation between SSG and SQQQ is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.81

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

0.83

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

0.86

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

0.83

Correlation (All Time)
Calculated using the full available price history since Feb 11, 2010

0.81

The correlation between SSG and SQQQ has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

SSG vs. SQQQ - Sectors Allocation Comparison

Sectors
SSG
SQQQ

Financial Services

116.6%
122.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

SSG
116.6%
SQQQ
122.0%

Basic Materials

SSG

-

SQQQ

-

Communication Services

SSG

-

SQQQ

-

Consumer Cyclical

SSG

-

SQQQ

-

Consumer Defensive

SSG

-

SQQQ

-

Energy

SSG

-

SQQQ

-

Healthcare

SSG

-

SQQQ

-

Industrials

SSG

-

SQQQ

-

Real Estate

SSG

-

SQQQ

-

Technology

SSG

-

SQQQ

-

Utilities

SSG

-

SQQQ

-

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Proshares Ultrashort Semiconductors

ProShares UltraPro Short QQQ

Often compared with SSG:
SSG vs. SOXSSSG vs. SMHSSG vs. SMGSSG vs. USDSSG vs. PSISSG vs. SOXQSSG vs. SZK
Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. QIDSQQQ vs. SPXUSQQQ vs. UVXY

Return for Risk

SSG vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SSG
SSG Risk / Return Rank: 00
Overall Rank
SSG Sharpe Ratio Rank: 11
Sharpe Ratio Rank
SSG Sortino Ratio Rank: 00
Sortino Ratio Rank
SSG Omega Ratio Rank: 00
Omega Ratio Rank
SSG Calmar Ratio Rank: 11
Calmar Ratio Rank
SSG Martin Ratio Rank: 11
Martin Ratio Rank
SQQQ
SQQQ Risk / Return Rank: 11
Overall Rank
SQQQ Sharpe Ratio Rank: 11
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 00
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 11
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 11
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.

SSG vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) 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.

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.

SSGSQQQDifference
Sharpe ratioReturn per unit of total volatility
-1.15
-1.14

-0.01

Sortino ratioReturn per unit of downside risk
-2.60
-2.07

-0.53

Omega ratioGain probability vs. loss probability

0.72

0.78

-0.06

Calmar ratioReturn relative to maximum drawdown

-0.99

-0.96

-0.02

Martin ratioReturn relative to average drawdown

-1.64

-1.81

+0.18

SSG vs. SQQQ - Sharpe Ratio Comparison

The current SSG Sharpe Ratio is -1.15, which is comparable to the SQQQ Sharpe Ratio of -1.14. The chart below compares the historical Sharpe Ratios of SSG 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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Drawdowns

SSG vs. SQQQ - Drawdown Comparison

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

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Drawdown Indicators

SSGSQQQDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-100.00%

0.00%

Max Drawdown (1Y)

Largest decline over 1 year

-79.92%

-63.52%

-16.40%

Max Drawdown (3Y)

Largest decline over 3 years

-98.56%

-92.51%

-6.05%

Max Drawdown (5Y)

Largest decline over 5 years

-99.66%

-97.27%

-2.39%

Max Drawdown (10Y)

Largest decline over 10 years

-99.99%

-99.98%

-0.01%

Current Drawdown

Current decline from peak

-100.00%

-100.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-88.60%

-92.73%

+4.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

51.14%

36.37%

+14.77%

Volatility

SSG vs. SQQQ - Volatility Comparison

Proshares Ultrashort Semiconductors (SSG) has a higher volatility of 33.37% compared to ProShares UltraPro Short QQQ (SQQQ) at 26.69%. This indicates that SSG's price experiences larger fluctuations and is considered to be riskier 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

SSGSQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

33.37%

26.69%

+6.68%

Volatility (6M)

Calculated over the trailing 6-month period

54.63%

43.33%

+11.30%

Volatility (1Y)

Calculated over the trailing 1-year period

68.68%

53.65%

+15.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

78.55%

67.53%

+11.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

69.63%

66.47%

+3.16%

SSG vs. SQQQ - Expense Ratio Comparison

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

Dividends

SSG vs. SQQQ - Dividend Comparison

SSG's dividend yield for the trailing twelve months is around 12.72%, more than SQQQ's 11.44% yield.

PositionTTM202520242023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ		11.44%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%
SSG
Proshares Ultrashort Semiconductors		12.72%9.19%7.67%6.73%0.75%0.00%0.34%1.81%0.62%0.00%

Frequently Asked Questions

SSG and SQQQ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SSG has higher volatility (33.37%) compared to SQQQ (26.69%). In terms of maximum drawdown, SSG dropped -100.00% vs SQQQ's -100.00%.

On 10-year performance, SQQQ leads with -56.24% vs -62.09% for SSG. Both ETFs have the same 0.95% expense ratio. On volatility, SQQQ has been the lower-risk option at 26.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SQQQ has performed better with a -56.24% return vs -62.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SSG has the higher dividend yield at 12.72%, compared with 11.44% for SQQQ.

SSG tracks Dow Jones U.S. Semiconductors Index (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).

SQQQ currently has the higher Sharpe Ratio (-1.14 vs -1.15), 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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