SUPL vs. SQQQ

Last updated Jun 24, 2026

SUPL (ProShares Supply Chain Logistics ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - SUPL is a Industrials Equities fund tracking the FactSet Supply Chain Logistics Index - Benchmark TR Net, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 3 years, SUPL returned 10.39%/yr vs -53.86%/yr for SQQQ. At a correlation of -0.61, they often move in opposite directions. SUPL charges 0.58%/yr vs 0.95%/yr for SQQQ.

Performance

SUPL vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Supply Chain Logistics ETF (SUPL) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SUPL achieves a 13.92% return, which is significantly higher than SQQQ's -40.31% return.

SUPL

• 1D: -0.67%
• 1M: -0.06%
• YTD: 13.92%
• 6M: 13.11%
• 1Y: 23.18%
• 3Y*: 10.39%
• 5Y*: —
• 10Y*: —

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)

SUPL vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SUPL ProShares Supply Chain Logistics ETF	13.92%	9.25%	-2.44%	23.69%	-11.01%
SQQQ ProShares UltraPro Short QQQ	-40.31%	-53.05%	-49.79%	-73.61%	50.56%

Correlation

The correlation between SUPL and SQQQ is -0.42, 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	-0.42
Correlation (3Y) Calculated over the trailing 3-year period	-0.52
Correlation (All Time) Calculated using the full available price history since Apr 7, 2022	-0.61

The correlation between SUPL and SQQQ shifts across timeframes, from -0.61 (all time) to -0.42 (1 year), reflecting how their relationship changes across market environments.

SUPL vs. SQQQ - Sectors Allocation Comparison

Sectors	SUPL	SQQQ
Industrials	60.0%	-
Energy	4.5%	-
Healthcare	3.2%	-
Utilities	3.2%	-
Technology	1.3%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	122.0%
Real Estate	-	-

Return for Risk

SUPL vs. SQQQ — Risk / Return Rank

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

SUPL

SUPL Risk / Return Rank: 45
SUPL Sharpe Ratio Rank: 43
SUPL Sortino Ratio Rank: 41
SUPL Omega Ratio Rank: 41
SUPL Calmar Ratio Rank: 52
SUPL Martin Ratio Rank: 48

SQQQ

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

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.

SUPL vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Supply Chain Logistics ETF (SUPL) 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.

	SUPL	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.41	-1.14	+2.55
Sortino ratio: Return per unit of downside risk	1.96	-2.07	+4.03
Omega ratio: Gain probability vs. loss probability	1.25	0.78	+0.48
Calmar ratio: Return relative to maximum drawdown	2.39	-0.96	+3.35
Martin ratio: Return relative to average drawdown	7.41	-1.81	+9.22

SUPL vs. SQQQ - Sharpe Ratio Comparison

The current SUPL Sharpe Ratio is 1.41, which is higher than the SQQQ Sharpe Ratio of -1.14. The chart below compares the historical Sharpe Ratios of SUPL 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.

Drawdowns

SUPL vs. SQQQ - Drawdown Comparison

The maximum SUPL drawdown since its inception was -24.42%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SUPL and SQQQ.

Drawdown Indicators

	SUPL	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-24.42%	-100.00%	+75.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-63.52%	+53.76%
Max Drawdown (3Y) Largest decline over 3 years	-21.71%	-92.51%	+70.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-97.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.98%	—
Current Drawdown Current decline from peak	-5.73%	-100.00%	+94.27%
Average Drawdown Average peak-to-trough decline	-5.91%	-92.73%	+86.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	36.37%	-33.23%

Volatility

SUPL vs. SQQQ - Volatility Comparison

The current volatility for ProShares Supply Chain Logistics ETF (SUPL) is 5.62%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. This indicates that SUPL 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.

Volatility by Period

	SUPL	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.62%	26.69%	-21.07%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	43.33%	-29.84%
Volatility (1Y) Calculated over the trailing 1-year period	16.59%	53.65%	-37.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.00%	67.53%	-48.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.00%	66.47%	-47.47%

SUPL vs. SQQQ - Expense Ratio Comparison

SUPL has a 0.58% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

SUPL vs. SQQQ - Dividend Comparison

SUPL's dividend yield for the trailing twelve months is around 2.75%, less than SQQQ's 11.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SUPL ProShares Supply Chain Logistics ETF	2.75%	3.03%	4.78%	4.71%	3.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SUPL and SQQQ in my portfolio?

SUPL and SQQQ have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SUPL or SQQQ?

SQQQ has higher volatility (26.69%) compared to SUPL (5.62%). In terms of maximum drawdown, SUPL dropped -24.42% vs SQQQ's -100.00%.

Which ETF is better, SUPL or SQQQ?

On 3-year performance, SUPL leads with 10.39% vs -53.86% for SQQQ. On fees, SUPL is cheaper at 0.58% per year. On volatility, SUPL has been the lower-risk option at 5.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SUPL or SQQQ?

Over the 3-year period, SUPL has performed better with a 10.39% return vs -53.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SUPL or SQQQ?

SUPL is cheaper with a 0.58% expense ratio, compared with 0.95% for SQQQ.

Which ETF pays a higher dividend yield, SUPL or SQQQ?

SQQQ has the higher dividend yield at 11.44%, compared with 2.75% for SUPL.

What is the main difference between SUPL and SQQQ?

SUPL is categorized as Industrials Equities, while SQQQ is Leveraged Equities. SUPL tracks FactSet Supply Chain Logistics Index - Benchmark TR Net, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.58% for SUPL and 0.95% for SQQQ.

Which has better risk-adjusted returns?

SUPL currently has the higher Sharpe Ratio (1.41 vs -1.14), 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.