TQQQ vs. CTA

Last updated Jun 7, 2026

TQQQ (ProShares UltraPro QQQ) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%), while CTA is a Systematic Trend fund actively managed by Simplify. TQQQ is passively managed, while CTA is actively managed. Over the past 3 years, TQQQ returned 60.11%/yr vs 10.84%/yr for CTA. At a correlation of -0.11, they often move in opposite directions. TQQQ charges 0.95%/yr vs 0.78%/yr for CTA.

Performance

TQQQ vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and Simplify Managed Futures Strategy ETF (CTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQQQ achieves a 38.79% return, which is significantly higher than CTA's 9.07% return.

TQQQ

• 1D: -14.28%
• 1M: -4.23%
• YTD: 38.79%
• 6M: 30.51%
• 1Y: 98.25%
• 3Y*: 60.11%
• 5Y*: 24.09%
• 10Y*: 42.84%

CTA

• 1D: -1.49%
• 1M: -5.00%
• YTD: 9.07%
• 6M: 12.10%
• 1Y: 9.47%
• 3Y*: 10.84%
• 5Y*: —
• 10Y*: —

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

TQQQ vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TQQQ ProShares UltraPro QQQ	38.79%	34.35%	58.27%	198.04%	-58.72%
CTA Simplify Managed Futures Strategy ETF	9.07%	0.88%	24.15%	-2.23%	9.55%

Correlation

The correlation between TQQQ and CTA is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Mar 9, 2022	-0.11

TQQQ vs. CTA - Sectors Allocation Comparison

Sectors	TQQQ	CTA
Technology	53.8%	-
Communication Services	15.8%	-
Consumer Cyclical	12.3%	-
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	2.8%	-
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	-
Financial Services	0.2%	-49.1%
Real Estate	0.1%	-

Return for Risk

TQQQ vs. CTA — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 56
TQQQ Sharpe Ratio Rank: 64
TQQQ Sortino Ratio Rank: 50
TQQQ Omega Ratio Rank: 54
TQQQ Calmar Ratio Rank: 58
TQQQ Martin Ratio Rank: 54

CTA

CTA Risk / Return Rank: 20
CTA Sharpe Ratio Rank: 18
CTA Sortino Ratio Rank: 17
CTA Omega Ratio Rank: 19
CTA Calmar Ratio Rank: 22
CTA Martin Ratio Rank: 22

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.

TQQQ vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Simplify Managed Futures Strategy ETF (CTA). 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.

	TQQQ	CTA	Difference
Sharpe ratio: Return per unit of total volatility	2.10	0.55	+1.55
Sortino ratio: Return per unit of downside risk	2.41	0.84	+1.57
Omega ratio: Gain probability vs. loss probability	1.33	1.11	+0.21
Calmar ratio: Return relative to maximum drawdown	2.83	1.01	+1.82
Martin ratio: Return relative to average drawdown	9.20	2.58	+6.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQQQ vs. CTA - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 2.10, which is higher than the CTA Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of TQQQ and CTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TQQQ	CTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	0.55	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.57	+0.14

Drawdowns

TQQQ vs. CTA - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, which is greater than CTA's maximum drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for TQQQ and CTA.

Drawdown Indicators

	TQQQ	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-18.07%	-63.59%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-11.00%	-25.97%
Max Drawdown (3Y) Largest decline over 3 years	-58.04%	-11.23%	-46.81%
Max Drawdown (5Y) Largest decline over 5 years	-81.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-81.66%	—	—
Current Drawdown Current decline from peak	-16.25%	-10.51%	-5.74%
Average Drawdown Average peak-to-trough decline	-18.52%	-5.68%	-12.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.33%	4.28%	+7.05%

Volatility

TQQQ vs. CTA - Volatility Comparison

ProShares UltraPro QQQ (TQQQ) has a higher volatility of 20.42% compared to Simplify Managed Futures Strategy ETF (CTA) at 6.69%. This indicates that TQQQ's price experiences larger fluctuations and is considered to be riskier than CTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQQQ	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.42%	6.69%	+13.73%
Volatility (6M) Calculated over the trailing 6-month period	39.33%	17.42%	+21.91%
Volatility (1Y) Calculated over the trailing 1-year period	49.81%	20.23%	+29.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.79%	16.60%	+50.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.11%	16.60%	+49.51%

TQQQ vs. CTA - Expense Ratio Comparison

TQQQ has a 0.95% expense ratio, which is higher than CTA's 0.78% expense ratio.

Dividends

TQQQ vs. CTA - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.43%, less than CTA's 4.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTA Simplify Managed Futures Strategy ETF	4.99%	3.19%	4.80%	7.78%	6.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.43%	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

Can I hold both TQQQ and CTA in my portfolio?

TQQQ and CTA have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TQQQ or CTA?

TQQQ has higher volatility (20.42%) compared to CTA (6.69%). In terms of maximum drawdown, TQQQ dropped -81.66% vs CTA's -18.07%.

Which ETF is better, TQQQ or CTA?

On 3-year performance, TQQQ leads with 60.11% vs 10.84% for CTA. On fees, CTA is cheaper at 0.78% per year. On volatility, CTA has been the lower-risk option at 6.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TQQQ or CTA?

Over the 3-year period, TQQQ has performed better with a 60.11% return vs 10.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TQQQ or CTA?

CTA is cheaper with a 0.78% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, TQQQ or CTA?

CTA has the higher dividend yield at 4.99%, compared with 0.43% for TQQQ.

What is the main difference between TQQQ and CTA?

TQQQ is categorized as Leveraged Equities, while CTA is Systematic Trend. They also come from different issuers: ProShares and Simplify. Their fees differ too: 0.95% for TQQQ and 0.78% for CTA.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.10 vs 0.55), 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.