UCC vs. IQQQ

Last updated Jul 16, 2026

UCC (ProShares Ultra Consumer Services) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - UCC is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Services Index (200%), while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, UCC returned 5.17% vs 26.33% for IQQQ. A 0.75 correlation means they provide meaningful diversification when combined. UCC charges 0.95%/yr vs 0.55%/yr for IQQQ.

Performance

UCC vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Consumer Services (UCC) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UCC achieves a -8.35% return, which is significantly lower than IQQQ's 14.52% return.

UCC

• 1D: 1.57%
• 1M: -3.07%
• 6M: -12.26%
• YTD: -8.35%
• 1Y: 5.17%
• 3Y*: 10.60%
• 5Y*: -0.94%
• 10Y*: 13.39%

IQQQ

• 1D: -0.34%
• 1M: -2.82%
• 6M: 13.69%
• YTD: 14.52%
• 1Y: 26.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UCC vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UCC ProShares Ultra Consumer Services	-8.35%	2.21%	43.74%
IQQQ ProShares Nasdaq-100 High Income ETF	14.52%	17.11%	14.82%

Correlation

The correlation between UCC and IQQQ is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.75

The correlation between UCC and IQQQ has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

Return for Risk

UCC vs. IQQQ — Risk / Return Rank

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

UCC

UCC Risk / Return Rank: 12
UCC Sharpe Ratio Rank: 12
UCC Sortino Ratio Rank: 12
UCC Omega Ratio Rank: 12
UCC Calmar Ratio Rank: 11
UCC Martin Ratio Rank: 12

IQQQ

IQQQ Risk / Return Rank: 54
IQQQ Sharpe Ratio Rank: 54
IQQQ Sortino Ratio Rank: 49
IQQQ Omega Ratio Rank: 50
IQQQ Calmar Ratio Rank: 59
IQQQ Martin Ratio Rank: 56

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.

UCC vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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.

	UCC	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.14	1.50	-1.36
Sortino ratio: Return per unit of downside risk	0.46	2.01	-1.55
Omega ratio: Gain probability vs. loss probability	1.05	1.26	-0.21
Calmar ratio: Return relative to maximum drawdown	0.18	2.38	-2.20
Martin ratio: Return relative to average drawdown	0.45	7.81	-7.36

UCC vs. IQQQ - Sharpe Ratio Comparison

The current UCC Sharpe Ratio is 0.14, which is lower than the IQQQ Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of UCC and IQQQ, 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

UCC vs. IQQQ - Drawdown Comparison

The maximum UCC drawdown since its inception was -83.05%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for UCC and IQQQ.

Drawdown Indicators

	UCC	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-83.05%	-20.41%	-62.64%
Max Drawdown (1Y) Largest decline over 1 year	-29.14%	-11.13%	-18.01%
Max Drawdown (3Y) Largest decline over 3 years	-48.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-61.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.77%	—	—
Current Drawdown Current decline from peak	-18.17%	-3.83%	-14.34%
Average Drawdown Average peak-to-trough decline	-21.78%	-3.63%	-18.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.42%	3.38%	+8.04%

Volatility

UCC vs. IQQQ - Volatility Comparison

ProShares Ultra Consumer Services (UCC) has a higher volatility of 12.15% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 7.26%. This indicates that UCC's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCC	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.15%	7.26%	+4.89%
Volatility (6M) Calculated over the trailing 6-month period	28.41%	14.36%	+14.05%
Volatility (1Y) Calculated over the trailing 1-year period	37.29%	17.62%	+19.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.00%	19.14%	+24.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.75%	19.14%	+21.61%

UCC vs. IQQQ - Expense Ratio Comparison

UCC has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

UCC vs. IQQQ - Dividend Comparison

UCC's dividend yield for the trailing twelve months is around 1.26%, less than IQQQ's 5.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQQQ ProShares Nasdaq-100 High Income ETF	5.21%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UCC ProShares Ultra Consumer Services	1.26%	1.10%	0.17%	0.04%	0.25%	0.00%	0.02%	0.17%	0.18%	0.14%	0.21%	0.14%

Frequently Asked Questions

Can I hold both UCC and IQQQ in my portfolio?

UCC and IQQQ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCC or IQQQ?

UCC has higher volatility (12.15%) compared to IQQQ (7.26%). In terms of maximum drawdown, UCC dropped -83.05% vs IQQQ's -20.41%.

Which ETF is better, UCC or IQQQ?

On 1-year performance, IQQQ leads with 26.33% vs 5.17% for UCC. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCC or IQQQ?

Over the 1-year period, IQQQ has performed better with a 26.33% return vs 5.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCC or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for UCC.

Which ETF pays a higher dividend yield, UCC or IQQQ?

IQQQ has the higher dividend yield at 5.21%, compared with 1.26% for UCC.

What is the main difference between UCC and IQQQ?

UCC is categorized as Leveraged Equities, while IQQQ is Nasdaq-100. UCC tracks Dow Jones U.S. Consumer Services Index (200%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for UCC and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.50 vs 0.14), 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.