TOLZ vs. SQQQ

Last updated Jul 17, 2026

TOLZ (ProShares DJ Brookfield Global Infrastructure ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - TOLZ is a Industrials Equities fund tracking the Dow Jones Brookfield Global Infrastructure Composite Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, TOLZ returned 7.49%/yr vs -55.08%/yr for SQQQ. At a correlation of -0.44, they often move in opposite directions. TOLZ charges 0.46%/yr vs 0.95%/yr for SQQQ.

Performance

TOLZ vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) 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, TOLZ achieves a 13.47% return, which is significantly higher than SQQQ's -38.86% return. Over the past 10 years, TOLZ has outperformed SQQQ with an annualized return of 7.49%, while SQQQ has yielded a comparatively lower -55.08% annualized return.

TOLZ

• 1D: 0.49%
• 1M: 1.10%
• 6M: 12.48%
• YTD: 13.47%
• 1Y: 17.92%
• 3Y*: 14.46%
• 5Y*: 9.04%
• 10Y*: 7.49%

SQQQ

• 1D: 5.01%
• 1M: 8.33%
• 6M: -36.79%
• YTD: -38.86%
• 1Y: -54.36%
• 3Y*: -50.96%
• 5Y*: -45.88%
• 10Y*: -55.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TOLZ vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	13.47%	14.76%	11.67%	6.18%	-4.25%	20.47%	-9.46%	26.84%	-7.90%	13.28%
SQQQ ProShares UltraPro Short QQQ	-38.86%	-53.05%	-49.79%	-73.61%	82.40%	-60.87%	-86.40%	-65.92%	-20.83%	-58.67%

Correlation

The correlation between TOLZ and SQQQ is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	-0.16
Correlation (5Y) Calculated over the trailing 5-year period	-0.35
Correlation (10Y) Calculated over the trailing 10-year period	-0.43
Correlation (All Time) Calculated using the full available price history since Mar 27, 2014	-0.44

The correlation between TOLZ and SQQQ shifts across timeframes, from -0.44 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.

TOLZ vs. SQQQ - Sectors Allocation Comparison

Sectors	TOLZ	SQQQ
Energy	35.2%	-
Utilities	24.2%	-
Real Estate	7.2%	-
Industrials	5.5%	-
Consumer Defensive	4.4%	-
Financial Services	2.0%	109.1%
Consumer Cyclical	0.8%	-
Technology	0.4%	-
Basic Materials	-	-
Communication Services	-	-
Healthcare	-	-

Return for Risk

TOLZ vs. SQQQ — Risk / Return Rank

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

TOLZ

TOLZ Risk / Return Rank: 68
TOLZ Sharpe Ratio Rank: 65
TOLZ Sortino Ratio Rank: 67
TOLZ Omega Ratio Rank: 60
TOLZ Calmar Ratio Rank: 82
TOLZ Martin Ratio Rank: 68

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 2
SQQQ Sortino Ratio Rank: 2
SQQQ Omega Ratio Rank: 2
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.

TOLZ vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) 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.

	TOLZ	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.70	-0.98	+2.67
Sortino ratio: Return per unit of downside risk	2.45	-1.58	+4.03
Omega ratio: Gain probability vs. loss probability	1.29	0.83	+0.46
Calmar ratio: Return relative to maximum drawdown	3.48	-0.89	+4.37
Martin ratio: Return relative to average drawdown	9.77	-1.63	+11.40

TOLZ vs. SQQQ - Sharpe Ratio Comparison

The current TOLZ Sharpe Ratio is 1.70, which is higher than the SQQQ Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of TOLZ 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

TOLZ vs. SQQQ - Drawdown Comparison

The maximum TOLZ drawdown since its inception was -39.33%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TOLZ and SQQQ.

Drawdown Indicators

	TOLZ	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-39.33%	-100.00%	+60.67%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-61.03%	+55.85%
Max Drawdown (3Y) Largest decline over 3 years	-11.94%	-92.51%	+80.57%
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	-97.27%	+75.42%
Max Drawdown (10Y) Largest decline over 10 years	-39.33%	-99.97%	+60.64%
Current Drawdown Current decline from peak	-1.24%	-100.00%	+98.76%
Average Drawdown Average peak-to-trough decline	-6.59%	-92.76%	+86.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	33.36%	-31.52%

Volatility

TOLZ vs. SQQQ - Volatility Comparison

The current volatility for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) is 3.65%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 22.32%. This indicates that TOLZ 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

	TOLZ	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	22.32%	-18.67%
Volatility (6M) Calculated over the trailing 6-month period	8.69%	46.22%	-37.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.60%	55.87%	-45.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	67.91%	-53.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.22%	66.57%	-50.35%

TOLZ vs. SQQQ - Expense Ratio Comparison

TOLZ has a 0.46% expense ratio, which is lower than SQQQ's 0.95% expense ratio.

Dividends

TOLZ vs. SQQQ - Dividend Comparison

TOLZ's dividend yield for the trailing twelve months is around 2.94%, less than SQQQ's 9.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SQQQ ProShares UltraPro Short QQQ	9.77%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%	0.00%	0.00%
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	2.94%	3.99%	3.53%	3.34%	3.01%	3.28%	3.16%	2.96%	3.63%	3.30%	2.62%	3.67%

Frequently Asked Questions

Can I hold both TOLZ and SQQQ in my portfolio?

TOLZ and SQQQ have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOLZ or SQQQ?

SQQQ has higher volatility (22.32%) compared to TOLZ (3.65%). In terms of maximum drawdown, TOLZ dropped -39.33% vs SQQQ's -100.00%.

Which ETF is better, TOLZ or SQQQ?

On 10-year performance, TOLZ leads with 7.49% vs -55.08% for SQQQ. On fees, TOLZ is cheaper at 0.46% per year. On volatility, TOLZ has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOLZ or SQQQ?

Over the 10-year period, TOLZ has performed better with a 7.49% return vs -55.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOLZ or SQQQ?

TOLZ is cheaper with a 0.46% expense ratio, compared with 0.95% for SQQQ.

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

SQQQ has the higher dividend yield at 9.77%, compared with 2.94% for TOLZ.

What is the main difference between TOLZ and SQQQ?

TOLZ is categorized as Industrials Equities, while SQQQ is Leveraged Equities. TOLZ tracks Dow Jones Brookfield Global Infrastructure Composite Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.46% for TOLZ and 0.95% for SQQQ.

Which has better risk-adjusted returns?

TOLZ currently has the higher Sharpe Ratio (1.70 vs -0.98), 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.