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TQQQ vs. NDAQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TQQQ vs. NDAQ

Last updated Jun 26, 2026

TQQQ (ProShares UltraPro QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (300%), while NDAQ (Nasdaq, Inc.) is a stock. Over the past 10 years, TQQQ returned 46.45%/yr vs 16.09%/yr for NDAQ. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

TQQQ vs. NDAQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and Nasdaq, Inc. (NDAQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TQQQ achieves a 42.40% return, which is significantly higher than NDAQ's -19.51% return. Over the past 10 years, TQQQ has outperformed NDAQ with an annualized return of 46.45%, while NDAQ has yielded a comparatively lower 16.09% annualized return.

TQQQ

1D
2.25%
1M
-8.54%
YTD
42.40%
6M
35.61%
1Y
91.80%
3Y*
60.52%
5Y*
21.71%
10Y*
46.45%

NDAQ

1D
-4.85%
1M
-14.25%
YTD
-19.51%
6M
-20.75%
1Y
-10.70%
3Y*
17.72%
5Y*
6.97%
10Y*
16.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TQQQ vs. NDAQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TQQQ
ProShares UltraPro QQQ		42.40%34.35%58.27%198.04%-79.09%82.98%110.05%133.84%-19.79%118.06%
NDAQ
Nasdaq, Inc.		-19.51%27.19%34.85%-3.66%-11.19%60.13%25.99%33.88%8.21%16.76%

Correlation

The correlation between TQQQ and NDAQ is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.31

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

0.39

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

0.52

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

0.50

Correlation (All Time)
Calculated using the full available price history since Feb 11, 2010

0.54

Over the past year, the correlation between TQQQ and NDAQ has dropped to 0.31 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraPro QQQ

Nasdaq, Inc.

Often compared with TQQQ:
TQQQ vs. QQQTQQQ vs. SOXLTQQQ vs. QLDTQQQ vs. SQQQTQQQ vs. UPROTQQQ vs. SPXLTQQQ vs. TECL
Often compared with NDAQ:
NDAQ vs. QQQNDAQ vs. ICENDAQ vs. IOONDAQ vs. VOONDAQ vs. CBOENDAQ vs. MSCINDAQ vs. SPY

Return for Risk

TQQQ vs. NDAQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TQQQ
TQQQ Risk / Return Rank: 5555
Overall Rank
TQQQ Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
TQQQ Sortino Ratio Rank: 5050
Sortino Ratio Rank
TQQQ Omega Ratio Rank: 5252
Omega Ratio Rank
TQQQ Calmar Ratio Rank: 5959
Calmar Ratio Rank
TQQQ Martin Ratio Rank: 5353
Martin Ratio Rank
NDAQ
NDAQ Risk / Return Rank: 2424
Overall Rank
NDAQ Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
NDAQ Sortino Ratio Rank: 2424
Sortino Ratio Rank
NDAQ Omega Ratio Rank: 2323
Omega Ratio Rank
NDAQ Calmar Ratio Rank: 2727
Calmar Ratio Rank
NDAQ Martin Ratio Rank: 2121
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.

TQQQ vs. NDAQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Nasdaq, Inc. (NDAQ). 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.

TQQQNDAQDifference
Sharpe ratioReturn per unit of total volatility
1.73
-0.41

+2.15

Sortino ratioReturn per unit of downside risk
2.15
-0.38

+2.53

Omega ratioGain probability vs. loss probability

1.29

0.95

+0.34

Calmar ratioReturn relative to maximum drawdown

2.50

-0.48

+2.97

Martin ratioReturn relative to average drawdown

7.89

-1.08

+8.97

TQQQ vs. NDAQ - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 1.73, which is higher than the NDAQ Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of TQQQ and NDAQ, 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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Drawdowns

TQQQ vs. NDAQ - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, which is greater than NDAQ's maximum drawdown of -68.48%. Use the drawdown chart below to compare losses from any high point for TQQQ and NDAQ.

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Drawdown Indicators

TQQQNDAQDifference

Max Drawdown

Largest peak-to-trough decline

-81.66%

-68.48%

-13.18%

Max Drawdown (1Y)

Largest decline over 1 year

-36.97%

-22.58%

-14.39%

Max Drawdown (3Y)

Largest decline over 3 years

-58.04%

-22.58%

-35.46%

Max Drawdown (5Y)

Largest decline over 5 years

-81.66%

-32.84%

-48.82%

Max Drawdown (10Y)

Largest decline over 10 years

-81.66%

-38.31%

-43.35%

Current Drawdown

Current decline from peak

-14.07%

-22.58%

+8.51%

Average Drawdown

Average peak-to-trough decline

-18.49%

-23.79%

+5.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.67%

9.97%

+1.70%

Volatility

TQQQ vs. NDAQ - Volatility Comparison

ProShares UltraPro QQQ (TQQQ) has a higher volatility of 26.81% compared to Nasdaq, Inc. (NDAQ) at 11.40%. This indicates that TQQQ's price experiences larger fluctuations and is considered to be riskier than NDAQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TQQQNDAQDifference

Volatility (1M)

Calculated over the trailing 1-month period

26.81%

11.40%

+15.41%

Volatility (6M)

Calculated over the trailing 6-month period

43.27%

22.42%

+20.85%

Volatility (1Y)

Calculated over the trailing 1-year period

53.22%

26.11%

+27.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

67.42%

24.27%

+43.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

66.30%

24.41%

+41.89%

Dividends

TQQQ vs. NDAQ - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.27%, less than NDAQ's 1.44% yield.

PositionTTM20252024202320222021202020192018201720162015
NDAQ
Nasdaq, Inc.		1.44%1.08%1.22%1.48%1.27%1.00%1.46%1.73%2.08%1.90%1.80%1.55%
TQQQ
ProShares UltraPro QQQ		0.27%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

TQQQ and NDAQ have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TQQQ has higher volatility (26.81%) compared to NDAQ (11.40%). In terms of maximum drawdown, TQQQ dropped -81.66% vs NDAQ's -68.48%.

TQQQ currently has the higher Sharpe Ratio (1.73 vs -0.41), 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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