SSG vs. TQQQ

Last updated Jul 14, 2026

SSG (Proshares Ultrashort Semiconductors) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds from ProShares - SSG tracks the Dow Jones U.S. Semiconductors Index (-200%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, SSG returned -61.29%/yr vs 42.27%/yr for TQQQ. At a correlation of -0.81, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

SSG vs. TQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, SSG achieves a -57.11% return, which is significantly lower than TQQQ's 38.33% return. Over the past 10 years, SSG has underperformed TQQQ with an annualized return of -61.29%, while TQQQ has yielded a comparatively higher 42.27% annualized return.

SSG

• 1D: 8.63%
• 1M: 1.21%
• 6M: -54.30%
• YTD: -57.11%
• 1Y: -72.37%
• 3Y*: -72.30%
• 5Y*: -65.76%
• 10Y*: -61.29%

TQQQ

• 1D: -5.70%
• 1M: -6.08%
• 6M: 30.48%
• YTD: 38.33%
• 1Y: 74.65%
• 3Y*: 50.58%
• 5Y*: 18.33%
• 10Y*: 42.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SSG vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSG Proshares Ultrashort Semiconductors	-57.11%	-70.03%	-77.59%	-78.69%	37.90%	-67.46%	-76.50%	-63.33%	-0.79%	-51.60%
TQQQ ProShares UltraPro QQQ	38.33%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between SSG and TQQQ is -0.83, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.83
Correlation (3Y) Calculated over the trailing 3-year period	-0.84
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 TQQQ has been stable across timeframes, ranging from -0.86 to -0.81 - a consistent structural relationship.

SSG vs. TQQQ - Sectors Allocation Comparison

Sectors	SSG	TQQQ
Financial Services	93.3%	0.2%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

SSG vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SSG

SSG Risk / Return Rank: 1
SSG Sharpe Ratio Rank: 1
SSG Sortino Ratio Rank: 1
SSG Omega Ratio Rank: 1
SSG Calmar Ratio Rank: 1
SSG Martin Ratio Rank: 0

TQQQ

TQQQ Risk / Return Rank: 48
TQQQ Sharpe Ratio Rank: 49
TQQQ Sortino Ratio Rank: 45
TQQQ Omega Ratio Rank: 46
TQQQ Calmar Ratio Rank: 51
TQQQ Martin Ratio Rank: 47

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. TQQQ - Risk-Adjusted Trends Comparison

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

	SSG	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	1.36	-2.37
Sortino ratio: Return per unit of downside risk	-2.00	1.85	-3.85
Omega ratio: Gain probability vs. loss probability	0.79	1.24	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.95	2.03	-2.98
Martin ratio: Return relative to average drawdown	-1.62	6.23	-7.85

SSG vs. TQQQ - Sharpe Ratio Comparison

The current SSG Sharpe Ratio is -1.01, which is lower than the TQQQ Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of SSG and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SSG vs. TQQQ - Drawdown Comparison

The maximum SSG drawdown since its inception was -100.00%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SSG and TQQQ.

Drawdown Indicators

	SSG	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-81.66%	-18.34%
Max Drawdown (1Y) Largest decline over 1 year	-76.63%	-36.97%	-39.66%
Max Drawdown (3Y) Largest decline over 3 years	-98.56%	-58.04%	-40.52%
Max Drawdown (5Y) Largest decline over 5 years	-99.66%	-81.66%	-18.00%
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	-81.66%	-18.33%
Current Drawdown Current decline from peak	-100.00%	-16.52%	-83.48%
Average Drawdown Average peak-to-trough decline	-88.63%	-18.48%	-70.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.68%	12.02%	+32.66%

Volatility

SSG vs. TQQQ - Volatility Comparison

Proshares Ultrashort Semiconductors (SSG) has a higher volatility of 32.79% compared to ProShares UltraPro QQQ (TQQQ) at 25.43%. This indicates that SSG's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSG	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.79%	25.43%	+7.36%
Volatility (6M) Calculated over the trailing 6-month period	58.10%	45.80%	+12.30%
Volatility (1Y) Calculated over the trailing 1-year period	71.72%	55.32%	+16.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.07%	67.74%	+11.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.87%	66.40%	+3.47%

SSG vs. TQQQ - Expense Ratio Comparison

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

Dividends

SSG vs. TQQQ - Dividend Comparison

SSG's dividend yield for the trailing twelve months is around 9.50%, more than TQQQ's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSG Proshares Ultrashort Semiconductors	9.50%	9.19%	7.67%	6.73%	0.75%	0.00%	0.34%	1.81%	0.62%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.52%	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

Can I hold both SSG and TQQQ in my portfolio?

SSG and TQQQ have a correlation of -0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSG or TQQQ?

SSG has higher volatility (32.79%) compared to TQQQ (25.43%). In terms of maximum drawdown, SSG dropped -100.00% vs TQQQ's -81.66%.

Which ETF is better, SSG or TQQQ?

On 10-year performance, TQQQ leads with 42.27% vs -61.29% for SSG. Both ETFs have the same 0.95% expense ratio. On volatility, TQQQ has been the lower-risk option at 25.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SSG or TQQQ?

Over the 10-year period, TQQQ has performed better with a 42.27% return vs -61.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SSG or TQQQ?

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

Which ETF pays a higher dividend yield, SSG or TQQQ?

SSG has the higher dividend yield at 9.50%, compared with 0.52% for TQQQ.

What is the main difference between SSG and TQQQ?

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

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (1.36 vs -1.01), 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.