SZK vs. IQQQ
SZK (ProShares UltraShort Consumer Goods) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - SZK is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (-200%), while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, SZK returned -11.75% vs 25.09% for IQQQ. Their 0.02 correlation means their historical movements had little consistent relationship. SZK charges 0.95%/yr vs 0.55%/yr for IQQQ.
Performance
SZK vs. IQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SZK achieves a -18.22% return, which is significantly lower than IQQQ's 13.55% return.
SZK
- 1D
- -0.26%
- 1M
- -3.10%
- 6M
- 2.45%
- YTD
- -18.22%
- 1Y
- -11.75%
- 3Y*
- -6.63%
- 5Y*
- -4.12%
- 10Y*
- -16.27%
- ALL TIME*
- -19.52%
IQQQ
- 1D
- -0.59%
- 1M
- -1.42%
- 6M
- 14.79%
- YTD
- 13.55%
- 1Y
- 25.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 19.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.11M | $2.40M | $2.92M | |
| $56.40K | $61.28K | $43.80K |
SZK vs. IQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | -18.22% | 3.37% | -2.79% |
IQQQ ProShares Nasdaq-100 High Income ETF | 13.55% | 17.11% | 14.82% |
Correlation
The correlation between SZK and IQQQ is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024 | 0.02 |
Over the past year, SZK and IQQQ have become more correlated (0.24) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
SZK vs. IQQQ — Risk / Return Rank
SZK
IQQQ
SZK vs. IQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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.
| SZK | IQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.78 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.23 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 2.24 | -2.64 |
| Martin ratioReturn relative to average drawdown | -0.77 | 6.61 | -7.38 |
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Drawdowns
SZK vs. IQQQ - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for SZK and IQQQ.
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Drawdown Indicators
| SZK | IQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -20.41% | -78.99% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -11.25% | -18.01% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | — | — |
Current DrawdownCurrent decline from peak | -99.31% | -4.64% | -94.67% |
Average DrawdownAverage peak-to-trough decline | -82.13% | -3.71% | -78.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.39% | 3.80% | +11.59% |
Volatility
SZK vs. IQQQ - Volatility Comparison
ProShares UltraShort Consumer Goods (SZK) has a higher volatility of 11.39% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 6.93%. This indicates that SZK's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SZK | IQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.39% | 6.93% | +4.46% |
Volatility (6M)Calculated over the trailing 6-month period | 22.80% | 15.19% | +7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.20% | 18.51% | +9.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.97% | 19.33% | +12.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.77% | 19.33% | +14.44% |
SZK vs. IQQQ - Expense Ratio Comparison
SZK has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.
Dividends
SZK vs. IQQQ - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.81%, less than IQQQ's 5.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IQQQ ProShares Nasdaq-100 High Income ETF | 5.72% | 10.34% | 7.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SZK ProShares UltraShort Consumer Goods | 2.81% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% |
Frequently Asked Questions
SZK and IQQQ have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SZK has higher volatility (11.39%) compared to IQQQ (6.93%). In terms of maximum drawdown, SZK dropped -99.40% vs IQQQ's -20.41%.
On 1-year performance, IQQQ leads with 25.09% vs -11.75% for SZK. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 6.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IQQQ has performed better with a 25.09% return vs -11.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for SZK.
IQQQ has the higher dividend yield at 5.72%, compared with 2.81% for SZK.
SZK is categorized as Leveraged Equities, while IQQQ is Nasdaq-100. SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for SZK and 0.55% for IQQQ.
IQQQ currently has the higher Sharpe Ratio (1.36 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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