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SZK vs. SQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SZK vs. SQQQ

Last updated Jun 3, 2026

SZK (ProShares UltraShort Consumer Goods) and SQQQ (ProShares UltraPro Short QQQ) are both Leveraged Equities funds from ProShares - SZK tracks the Dow Jones U.S. Consumer Goods Index (-200%) while SQQQ tracks the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, SZK returned -16.07%/yr vs -56.04%/yr for SQQQ. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.

Performance

SZK vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Consumer Goods (SZK) 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, SZK achieves a -9.91% return, which is significantly higher than SQQQ's -45.68% return. Over the past 10 years, SZK has outperformed SQQQ with an annualized return of -16.07%, while SQQQ has yielded a comparatively lower -56.04% annualized return.

SZK

1D
0.25%
1M
6.20%
YTD
-9.91%
6M
-7.73%
1Y
3.38%
3Y*
-4.29%
5Y*
-3.68%
10Y*
-16.07%

SQQQ

1D
-1.36%
1M
-26.50%
YTD
-45.68%
6M
-43.61%
1Y
-66.23%
3Y*
-56.30%
5Y*
-49.79%
10Y*
-56.04%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SZK vs. SQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SZK
ProShares UltraShort Consumer Goods		-9.91%3.37%-11.33%-3.10%47.20%-37.78%-58.24%-39.43%33.62%-27.22%
SQQQ
ProShares UltraPro Short QQQ		-45.68%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%

Correlation

The correlation between SZK and SQQQ is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.06

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

0.13

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

0.45

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

0.49

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2010

0.51

The correlation between SZK and SQQQ shifts across timeframes, from -0.06 (1 year) to 0.51 (all time), 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.

ProShares UltraShort Consumer Goods

ProShares UltraPro Short QQQ

Often compared with SZK:
SZK vs. SSGSZK vs. HIBSSZK vs. XLPSZK vs. UUPSZK vs. TZASZK vs. VOOSZK vs. QTAP
Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. UVXYSQQQ vs. SPXUSQQQ vs. QID

Return for Risk

SZK vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SZK
SZK Risk / Return Rank: 1010
Overall Rank
SZK Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
SZK Sortino Ratio Rank: 1111
Sortino Ratio Rank
SZK Omega Ratio Rank: 1010
Omega Ratio Rank
SZK Calmar Ratio Rank: 1010
Calmar Ratio Rank
SZK Martin Ratio Rank: 1010
Martin Ratio Rank
SQQQ
SQQQ Risk / Return Rank: 00
Overall Rank
SQQQ Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 00
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 00
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 00
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.

SZK vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) 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.

SZKSQQQDifference

Sharpe ratio

Return per unit of total volatility

0.13

-1.39

+1.52

Sortino ratio

Return per unit of downside risk

0.37

-2.71

+3.08

Omega ratio

Gain probability vs. loss probability

1.04

0.72

+0.33

Calmar ratio

Return relative to maximum drawdown

0.11

-1.01

+1.12

Martin ratio

Return relative to average drawdown

0.26

-1.86

+2.12

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SZK vs. SQQQ - Sharpe Ratio Comparison

The current SZK Sharpe Ratio is 0.13, which is higher than the SQQQ Sharpe Ratio of -1.39. The chart below compares the historical Sharpe Ratios of SZK 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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Sharpe Ratios by Period

SZKSQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.13

-1.39

+1.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.12

-0.75

+0.63

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.48

-0.85

+0.37

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.58

-0.88

+0.29

Drawdowns

SZK vs. SQQQ - Drawdown Comparison

The maximum SZK drawdown since its inception was -99.40%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SZK and SQQQ.

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Drawdown Indicators

SZKSQQQDifference

Max Drawdown

Largest peak-to-trough decline

-99.40%

-100.00%

+0.60%

Max Drawdown (1Y)

Largest decline over 1 year

-29.26%

-65.95%

+36.69%

Max Drawdown (3Y)

Largest decline over 3 years

-41.81%

-92.38%

+50.57%

Max Drawdown (5Y)

Largest decline over 5 years

-41.81%

-97.23%

+55.42%

Max Drawdown (10Y)

Largest decline over 10 years

-86.78%

-99.98%

+13.20%

Current Drawdown

Current decline from peak

-99.24%

-100.00%

+0.76%

Average Drawdown

Average peak-to-trough decline

-81.99%

-92.40%

+10.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.83%

35.95%

-23.12%

Volatility

SZK vs. SQQQ - Volatility Comparison

The current volatility for ProShares UltraShort Consumer Goods (SZK) is 8.22%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.72%. This indicates that SZK 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.

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Volatility by Period

SZKSQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.22%

13.72%

-5.50%

Volatility (6M)

Calculated over the trailing 6-month period

19.99%

36.46%

-16.47%

Volatility (1Y)

Calculated over the trailing 1-year period

25.18%

47.82%

-22.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

31.45%

66.66%

-35.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.61%

66.12%

-32.51%

SZK vs. SQQQ - Expense Ratio Comparison

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

Dividends

SZK vs. SQQQ - Dividend Comparison

SZK's dividend yield for the trailing twelve months is around 2.63%, less than SQQQ's 12.57% yield.

PositionTTM202520242023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ		12.57%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%
SZK
ProShares UltraShort Consumer Goods		2.63%2.90%5.70%4.03%0.56%0.00%0.19%1.70%0.50%0.00%

Frequently Asked Questions

SZK and SQQQ have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SQQQ has higher volatility (13.72%) compared to SZK (8.22%). In terms of maximum drawdown, SZK dropped -99.40% vs SQQQ's -100.00%.

On 10-year performance, SZK leads with -16.07% vs -56.04% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SZK has been the lower-risk option at 8.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SZK has performed better with a -16.07% return vs -56.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

SQQQ has the higher dividend yield at 12.57%, compared with 2.63% for SZK.

SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).

SZK currently has the higher Sharpe Ratio (0.13 vs -1.39), 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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