TQQQ vs. NVDG

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraPro QQQ (TQQQ) and Leverage Shares 2X Long NVDA Daily ETF (NVDG).

TQQQ and NVDG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. NVDG is an actively managed fund by Leverage Shares. It was launched on Dec 12, 2024.

Performance

TQQQ vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). The values are adjusted to include any dividend payments, if applicable.

TQQQ vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TQQQ ProShares UltraPro QQQ	-17.87%	34.35%	-11.19%
NVDG Leverage Shares 2X Long NVDA Daily ETF	-16.59%	32.45%	-0.75%

Returns By Period

In the year-to-date period, TQQQ achieves a -17.87% return, which is significantly lower than NVDG's -16.59% return.

TQQQ

• 1D: 3.72%
• 1M: -12.88%
• YTD: -17.87%
• 6M: -17.28%
• 1Y: 48.52%
• 3Y*: 46.87%
• 5Y*: 13.55%
• 10Y*: 35.31%

NVDG

• 1D: 1.56%
• 1M: -8.92%
• YTD: -16.59%
• 6M: -22.21%
• 1Y: 91.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TQQQ vs. NVDG - Expense Ratio Comparison

TQQQ has a 0.95% expense ratio, which is higher than NVDG's 0.75% expense ratio.

TQQQ

ProShares UltraPro QQQ

NVDG

Leverage Shares 2X Long NVDA Daily ETF

Return for Risk

TQQQ vs. NVDG — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 47
TQQQ Sharpe Ratio Rank: 37
TQQQ Sortino Ratio Rank: 51
TQQQ Omega Ratio Rank: 50
TQQQ Calmar Ratio Rank: 53
TQQQ Martin Ratio Rank: 44

NVDG

NVDG Risk / Return Rank: 65
NVDG Sharpe Ratio Rank: 62
NVDG Sortino Ratio Rank: 72
NVDG Omega Ratio Rank: 61
NVDG Calmar Ratio Rank: 78
NVDG Martin Ratio Rank: 52

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. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). 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	NVDG	Difference
Sharpe ratio Return per unit of total volatility	0.72	1.13	-0.41
Sortino ratio Return per unit of downside risk	1.41	1.89	-0.48
Omega ratio Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio Return relative to maximum drawdown	1.41	2.25	-0.85
Martin ratio Return relative to average drawdown	4.28	5.38	-1.09
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. NVDG - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 0.72, which is lower than the NVDG Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of TQQQ and NVDG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TQQQ	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	1.13	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.08	+0.56

Correlation

The correlation between TQQQ and NVDG is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TQQQ vs. NVDG - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.73%, less than NVDG's 14.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.73%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
NVDG Leverage Shares 2X Long NVDA Daily ETF	14.16%	11.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

TQQQ vs. NVDG - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for TQQQ and NVDG.

Drawdown Indicators

	TQQQ	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-66.19%	-15.47%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-42.72%	+5.75%
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	-28.08%	-35.41%	+7.33%
Average Drawdown Average peak-to-trough decline	-18.66%	-24.03%	+5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.13%	17.91%	-5.78%

Volatility

TQQQ vs. NVDG - Volatility Comparison

The current volatility for ProShares UltraPro QQQ (TQQQ) is 19.74%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 20.81%. This indicates that TQQQ experiences smaller price fluctuations and is considered to be less risky than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQQQ	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.74%	20.81%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	38.50%	50.85%	-12.35%
Volatility (1Y) Calculated over the trailing 1-year period	67.35%	81.32%	-13.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.53%	92.39%	-25.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.83%	92.39%	-26.56%