SZK vs. QLD
SZK (ProShares UltraShort Consumer Goods) and QLD (ProShares Ultra QQQ) are both Leveraged Equities funds from ProShares - SZK tracks the Dow Jones U.S. Consumer Goods Index (-200%) while QLD tracks the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, SZK returned -16.27%/yr vs 33.23%/yr for QLD. Their -0.54 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
SZK vs. QLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SZK achieves a -18.22% return, which is significantly lower than QLD's 29.07% return. Over the past 10 years, SZK has underperformed QLD with an annualized return of -16.27%, while QLD has yielded a comparatively higher 33.23% annualized 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%
QLD
- 1D
- -1.80%
- 1M
- -2.51%
- 6M
- 33.69%
- YTD
- 29.07%
- 1Y
- 50.92%
- 3Y*
- 41.48%
- 5Y*
- 18.95%
- 10Y*
- 33.23%
- ALL TIME*
- 25.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $462.32M | $402.26M | $438.76M | |
| $56.40K | $61.28K | $43.80K |
SZK vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | -18.22% | 3.37% | -11.33% | -3.10% | 47.20% | -37.78% | -58.24% | -39.43% | 33.62% | -27.22% |
QLD ProShares Ultra QQQ | 29.07% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between SZK and QLD 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 (3Y) Balances recent behavior with more history. | -0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.47 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.54 |
The correlation between SZK and QLD shifts across timeframes, from -0.54 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SZK vs. QLD — Risk / Return Rank
SZK
QLD
SZK vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) and ProShares Ultra QQQ (QLD). 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 | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.23 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 2.04 | -2.44 |
| Martin ratioReturn relative to average drawdown | -0.77 | 5.97 | -6.74 |
Loading charts...
Drawdowns
SZK vs. QLD - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for SZK and QLD.
Loading charts...
Drawdown Indicators
| SZK | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -83.13% | -16.27% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -25.13% | -4.13% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | -42.29% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | -63.68% | +21.87% |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | -63.68% | -23.10% |
Current DrawdownCurrent decline from peak | -99.31% | -9.62% | -89.69% |
Average DrawdownAverage peak-to-trough decline | -82.13% | -18.10% | -64.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.39% | 8.55% | +6.84% |
Volatility
SZK vs. QLD - Volatility Comparison
The current volatility for ProShares UltraShort Consumer Goods (SZK) is 11.39%, while ProShares Ultra QQQ (QLD) has a volatility of 14.78%. This indicates that SZK experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SZK | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.39% | 14.78% | -3.39% |
Volatility (6M)Calculated over the trailing 6-month period | 22.80% | 32.55% | -9.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.20% | 38.97% | -10.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.97% | 45.90% | -13.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.77% | 45.04% | -11.27% |
SZK vs. QLD - Expense Ratio Comparison
Both SZK and QLD have an expense ratio of 0.95%.
Dividends
SZK vs. QLD - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.81%, more than QLD's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
SZK ProShares UltraShort Consumer Goods | 2.81% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SZK and QLD 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.
QLD has higher volatility (14.78%) compared to SZK (11.39%). In terms of maximum drawdown, SZK dropped -99.40% vs QLD's -83.13%.
On 10-year performance, QLD leads with 33.23% vs -16.27% for SZK. Both ETFs have the same 0.95% expense ratio. On volatility, SZK has been the lower-risk option at 11.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 33.23% return vs -16.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SZK and QLD have the same expense ratio: 0.95% per year.
SZK has the higher dividend yield at 2.81%, compared with 0.13% for QLD.
SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while QLD tracks NASDAQ-100 Index (200%).
QLD currently has the higher Sharpe Ratio (1.31 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.
Find the right allocation for SZK and QLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer