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TQQQ vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TQQQ vs. QQQ

Last updated Apr 14, 2026

TQQQ (ProShares UltraPro QQQ) and QQQ (Invesco QQQ ETF) are both exchange-traded funds — TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, TQQQ returned 37.42%/yr vs 19.62%/yr for QQQ. With a 1.00 correlation, they move nearly in lockstep. TQQQ charges 0.95%/yr vs 0.18%/yr for QQQ.

Performance

TQQQ vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and Invesco QQQ ETF (QQQ). 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 -3.75% return, which is significantly lower than QQQ's 0.63% return. Over the past 10 years, TQQQ has outperformed QQQ with an annualized return of 37.42%, while QQQ has yielded a comparatively lower 19.62% annualized return.

TQQQ

1D
3.03%
1M
10.48%
YTD
-3.75%
6M
-1.54%
1Y
110.02%
3Y*
56.31%
5Y*
14.75%
10Y*
37.42%

QQQ

1D
1.03%
1M
4.12%
YTD
0.63%
6M
2.82%
1Y
36.53%
3Y*
25.41%
5Y*
13.58%
10Y*
19.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TQQQ vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TQQQ
ProShares UltraPro QQQ		-3.75%34.35%58.27%198.04%-79.09%82.98%110.05%133.84%-19.79%118.06%
QQQ
Invesco QQQ ETF		0.63%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between TQQQ and QQQ is 1.00 — these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

1.00

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

1.00

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

1.00

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2010

1.00

The correlation between TQQQ and QQQ has been stable across timeframes, ranging from 1.00 to 1.00 — a consistent structural relationship.

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

Invesco QQQ ETF

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TQQQ vs. SOXLTQQQ vs. QLDTQQQ vs. SQQQTQQQ vs. SPXLTQQQ vs. UPROTQQQ vs. TECLTQQQ vs. SPY
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. QQQMQQQ vs. SMHQQQ vs. QQQIQQQ vs. VUG

Return for Risk

TQQQ vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TQQQ
TQQQ Risk / Return Rank: 4141
Overall Rank
TQQQ Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
TQQQ Sortino Ratio Rank: 4040
Sortino Ratio Rank
TQQQ Omega Ratio Rank: 4242
Omega Ratio Rank
TQQQ Calmar Ratio Rank: 3333
Calmar Ratio Rank
TQQQ Martin Ratio Rank: 3333
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 4747
Overall Rank
QQQ Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 5151
Sortino Ratio Rank
QQQ Omega Ratio Rank: 5353
Omega Ratio Rank
QQQ Calmar Ratio Rank: 3636
Calmar Ratio Rank
QQQ Martin Ratio Rank: 4141
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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Invesco QQQ ETF (QQQ). 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.

TQQQQQQDifference

Sharpe ratio

Return per unit of total volatility

2.20

2.18

+0.02

Sortino ratio

Return per unit of downside risk

2.59

2.92

-0.34

Omega ratio

Gain probability vs. loss probability

1.34

1.39

-0.05

Calmar ratio

Return relative to maximum drawdown

2.54

2.77

-0.23

Martin ratio

Return relative to average drawdown

8.29

10.54

-2.25

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. QQQ - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 2.20, which is comparable to the QQQ Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of TQQQ and QQQ, 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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Sharpe Ratios by Period

TQQQQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.20

2.18

+0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

0.61

-0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.88

-0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.67

0.38

+0.28

Drawdowns

TQQQ vs. QQQ - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for TQQQ and QQQ.

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Drawdown Indicators

TQQQQQQDifference

Max Drawdown

Largest peak-to-trough decline

-81.66%

-82.97%

+1.31%

Max Drawdown (1Y)

Largest decline over 1 year

-36.97%

-11.96%

-25.01%

Max Drawdown (5Y)

Largest decline over 5 years

-81.66%

-35.12%

-46.54%

Max Drawdown (10Y)

Largest decline over 10 years

-81.66%

-35.12%

-46.54%

Current Drawdown

Current decline from peak

-15.72%

-2.64%

-13.08%

Average Drawdown

Average peak-to-trough decline

-18.67%

-32.96%

+14.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.33%

3.14%

+8.19%

Volatility

TQQQ vs. QQQ - Volatility Comparison

ProShares UltraPro QQQ (TQQQ) has a higher volatility of 19.86% compared to Invesco QQQ ETF (QQQ) at 6.67%. This indicates that TQQQ's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TQQQQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

19.86%

6.67%

+13.19%

Volatility (6M)

Calculated over the trailing 6-month period

39.33%

13.13%

+26.20%

Volatility (1Y)

Calculated over the trailing 1-year period

50.69%

16.98%

+33.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

66.58%

22.40%

+44.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

65.86%

22.26%

+43.60%

TQQQ vs. QQQ - Expense Ratio Comparison

TQQQ has a 0.95% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

TQQQ vs. QQQ - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.62%, more than QQQ's 0.46% yield.

TTM20252024202320222021202020192018201720162015
TQQQ
ProShares UltraPro QQQ		0.62%0.65%1.27%1.26%0.57%0.00%0.00%0.06%0.11%0.00%0.00%0.01%
QQQ
Invesco QQQ ETF		0.46%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%