SZK vs. TQQQ
SZK (ProShares UltraShort Consumer Goods) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds from ProShares - SZK tracks the Dow Jones U.S. Consumer Goods Index (-200%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, SZK returned -16.27%/yr vs 40.49%/yr for TQQQ. Their -0.49 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
SZK vs. TQQQ - 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 TQQQ's 38.71% return. Over the past 10 years, SZK has underperformed TQQQ with an annualized return of -16.27%, while TQQQ has yielded a comparatively higher 40.49% 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%
TQQQ
- 1D
- -2.65%
- 1M
- -4.68%
- 6M
- 46.96%
- YTD
- 38.71%
- 1Y
- 71.21%
- 3Y*
- 54.16%
- 5Y*
- 17.51%
- 10Y*
- 40.49%
- ALL TIME*
- 43.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $56.40K | $61.28K | $43.80K | |
| $5.00B | $4.56B | $5.34B |
SZK vs. TQQQ - 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% |
TQQQ ProShares UltraPro QQQ | 38.71% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between SZK and TQQQ 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. | -0.46 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.49 |
The correlation between SZK and TQQQ shifts across timeframes, from -0.49 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SZK vs. TQQQ — Risk / Return Rank
SZK
TQQQ
SZK vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) 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.
| SZK | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.22 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 1.94 | -2.34 |
| Martin ratioReturn relative to average drawdown | -0.77 | 5.34 | -6.11 |
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Drawdowns
SZK vs. TQQQ - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SZK and TQQQ.
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Drawdown Indicators
| SZK | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -81.66% | -17.74% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -36.97% | +7.71% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | -58.04% | +16.23% |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | -81.66% | +39.85% |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | -81.66% | -5.12% |
Current DrawdownCurrent decline from peak | -99.31% | -16.29% | -83.02% |
Average DrawdownAverage peak-to-trough decline | -82.13% | -18.49% | -63.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.39% | 13.38% | +2.01% |
Volatility
SZK vs. TQQQ - Volatility Comparison
The current volatility for ProShares UltraShort Consumer Goods (SZK) is 11.39%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 21.96%. This indicates that SZK experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SZK | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.39% | 21.96% | -10.57% |
Volatility (6M)Calculated over the trailing 6-month period | 22.80% | 48.60% | -25.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.20% | 58.14% | -29.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.97% | 68.26% | -36.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.77% | 66.67% | -32.90% |
SZK vs. TQQQ - Expense Ratio Comparison
Both SZK and TQQQ have an expense ratio of 0.95%.
Dividends
SZK vs. TQQQ - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.81%, more than TQQQ's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
SZK and TQQQ 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.
TQQQ has higher volatility (21.96%) compared to SZK (11.39%). In terms of maximum drawdown, SZK dropped -99.40% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 40.49% 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, TQQQ has performed better with a 40.49% return vs -16.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SZK and TQQQ have the same expense ratio: 0.95% per year.
SZK has the higher dividend yield at 2.81%, compared with 0.52% for TQQQ.
SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while TQQQ tracks NASDAQ-100 Index (300%).
TQQQ currently has the higher Sharpe Ratio (1.23 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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