TQQQ vs. VOO

Last updated Aug 4, 2026

TQQQ (ProShares UltraPro QQQ) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, TQQQ returned 39.51%/yr vs 15.17%/yr for VOO. Their correlation of 0.90 means they have usually moved in the same direction. TQQQ charges 0.95%/yr vs 0.03%/yr for VOO.

Performance

TQQQ vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQQQ achieves a 29.42% return, which is significantly higher than VOO's 11.72% return. Over the past 10 years, TQQQ has outperformed VOO with an annualized return of 39.51%, while VOO has yielded a comparatively lower 15.17% annualized return.

TQQQ

• 1D: 5.17%
• 1M: -7.35%
• 6M: 23.83%
• YTD: 29.42%
• 1Y: 64.98%
• 3Y*: 50.64%
• 5Y*: 16.02%
• 10Y*: 39.51%
• ALL TIME*: 42.74%

VOO

• 1D: 1.42%
• 1M: 1.69%
• 6M: 9.53%
• YTD: 11.72%
• 1Y: 23.30%
• 3Y*: 20.85%
• 5Y*: 13.12%
• 10Y*: 15.17%
• ALL TIME*: 14.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TQQQ ProShares UltraPro QQQ	$4.46B	$4.47B	$5.36B
VOO Vanguard S&P 500 ETF	$3.97B	$3.80B	$5.49B

TQQQ vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TQQQ ProShares UltraPro QQQ	29.42%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%
VOO Vanguard S&P 500 ETF	11.72%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between TQQQ and VOO is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.90

The correlation between TQQQ and VOO has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

TQQQ vs. VOO - Sectors Allocation Comparison

Sectors	TQQQ	VOO
Technology	53.8%	38.6%
Communication Services	15.8%	9.9%
Consumer Cyclical	12.3%	9.5%
Consumer Defensive	7.7%	4.5%
Healthcare	4.2%	8.9%
Industrials	2.8%	8.5%
Utilities	1.4%	2.2%
Basic Materials	1.1%	1.7%
Energy	0.6%	3.0%
Financial Services	0.2%	11.4%
Real Estate	0.1%	1.8%

Return for Risk

TQQQ vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TQQQ

TQQQ Risk / Return Rank: 45
TQQQ Sharpe Ratio Rank: 45
TQQQ Sortino Ratio Rank: 45
TQQQ Omega Ratio Rank: 44
TQQQ Calmar Ratio Rank: 48
TQQQ Martin Ratio Rank: 44

VOO

VOO Risk / Return Rank: 78
VOO Sharpe Ratio Rank: 79
VOO Sortino Ratio Rank: 77
VOO Omega Ratio Rank: 78
VOO Calmar Ratio Rank: 74
VOO Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TQQQ vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Vanguard S&P 500 ETF (VOO). 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.

	TQQQ	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.83	-0.70
Sortino ratio: Return per unit of downside risk	1.68	2.53	-0.85
Omega ratio: Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio: Return relative to maximum drawdown	1.77	2.63	-0.86
Martin ratio: Return relative to average drawdown	4.90	11.23	-6.34

TQQQ vs. VOO - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 1.14, which is lower than the VOO Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of TQQQ and VOO, 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

TQQQ vs. VOO - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for TQQQ and VOO.

Drawdown Indicators

	TQQQ	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-33.99%	-47.67%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-8.90%	-28.07%
Max Drawdown (3Y) Largest decline over 3 years	-58.04%	-18.69%	-39.35%
Max Drawdown (5Y) Largest decline over 5 years	-81.66%	-24.52%	-57.14%
Max Drawdown (10Y) Largest decline over 10 years	-81.66%	-33.99%	-47.67%
Current Drawdown Current decline from peak	-21.90%	0.00%	-21.90%
Average Drawdown Average peak-to-trough decline	-18.50%	-3.67%	-14.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.31%	2.08%	+11.23%

Volatility

TQQQ vs. VOO - Volatility Comparison

ProShares UltraPro QQQ (TQQQ) has a higher volatility of 20.63% compared to Vanguard S&P 500 ETF (VOO) at 3.81%. This indicates that TQQQ's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQQQ	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.63%	3.81%	+16.82%
Volatility (6M) Calculated over the trailing 6-month period	47.88%	10.18%	+37.70%
Volatility (1Y) Calculated over the trailing 1-year period	57.57%	12.80%	+44.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.10%	16.95%	+51.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.61%	18.02%	+48.59%

TQQQ vs. VOO - Expense Ratio Comparison

TQQQ has a 0.95% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

TQQQ vs. VOO - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.56%, less than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.56%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both TQQQ and VOO in my portfolio?

With a correlation of 0.93, TQQQ and VOO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TQQQ or VOO?

TQQQ has higher volatility (20.63%) compared to VOO (3.81%). In terms of maximum drawdown, TQQQ dropped -81.66% vs VOO's -33.99%.

Which ETF is better, TQQQ or VOO?

On 10-year performance, TQQQ leads with 39.51% vs 15.17% for VOO. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TQQQ or VOO?

Over the 10-year period, TQQQ has performed better with a 39.51% return vs 15.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TQQQ or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.95% for TQQQ.

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

VOO has the higher dividend yield at 1.05%, compared with 0.56% for TQQQ.

What is the main difference between TQQQ and VOO?

TQQQ is categorized as Leveraged Equities, while VOO is S&P 500. TQQQ tracks NASDAQ-100 Index (300%), while VOO tracks S&P 500 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for TQQQ and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.83 vs 1.14), 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.