UCYB vs. QQQ

Last updated Jun 4, 2026

UCYB (ProShares Ultra Nasdaq Cybersecurity) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - UCYB is a Leveraged Equities fund tracking the Nasdaq CTA Cybersecurity Index (200%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, UCYB returned 18.61%/yr vs 17.97%/yr for QQQ. A 0.74 correlation means they provide meaningful diversification when combined. UCYB charges 0.97%/yr vs 0.18%/yr for QQQ.

Performance

UCYB vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Cybersecurity (UCYB) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UCYB achieves a 54.17% return, which is significantly higher than QQQ's 21.30% return.

UCYB

• 1D: -5.91%
• 1M: 69.42%
• YTD: 54.17%
• 6M: 42.88%
• 1Y: 40.41%
• 3Y*: 44.52%
• 5Y*: 18.61%
• 10Y*: —

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

UCYB vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UCYB ProShares Ultra Nasdaq Cybersecurity	54.17%	9.41%	28.84%	68.85%	-55.15%	29.50%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	22.49%

Correlation

The correlation between UCYB and QQQ is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021	0.74

The correlation between UCYB and QQQ shifts across timeframes, from 0.58 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

UCYB vs. QQQ - Sectors Allocation Comparison

Sectors	UCYB	QQQ
Technology	95.1%	53.8%
Industrials	4.8%	2.8%
Communication Services	0.1%	15.8%
Basic Materials	-	1.1%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

UCYB vs. QQQ — Risk / Return Rank

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

UCYB

UCYB Risk / Return Rank: 23
UCYB Sharpe Ratio Rank: 24
UCYB Sortino Ratio Rank: 26
UCYB Omega Ratio Rank: 26
UCYB Calmar Ratio Rank: 22
UCYB Martin Ratio Rank: 19

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 71

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.

UCYB vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cybersecurity (UCYB) 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.

	UCYB	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.82	2.64	-1.82
Sortino ratio: Return per unit of downside risk	1.37	3.45	-2.07
Omega ratio: Gain probability vs. loss probability	1.17	1.45	-0.28
Calmar ratio: Return relative to maximum drawdown	0.94	3.51	-2.57
Martin ratio: Return relative to average drawdown	2.10	13.49	-11.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UCYB vs. QQQ - Sharpe Ratio Comparison

The current UCYB Sharpe Ratio is 0.82, which is lower than the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of UCYB 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.

Sharpe Ratios by Period

	UCYB	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	2.64	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.81	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.41	-0.10

Drawdowns

UCYB vs. QQQ - Drawdown Comparison

The maximum UCYB drawdown since its inception was -62.69%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for UCYB and QQQ.

Drawdown Indicators

	UCYB	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-62.69%	-82.97%	+20.28%
Max Drawdown (1Y) Largest decline over 1 year	-43.04%	-11.96%	-31.08%
Max Drawdown (3Y) Largest decline over 3 years	-43.04%	-22.77%	-20.27%
Max Drawdown (5Y) Largest decline over 5 years	-62.69%	-35.12%	-27.57%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-6.15%	-0.26%	-5.89%
Average Drawdown Average peak-to-trough decline	-27.48%	-32.79%	+5.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.32%	3.11%	+16.21%

Volatility

UCYB vs. QQQ - Volatility Comparison

ProShares Ultra Nasdaq Cybersecurity (UCYB) has a higher volatility of 22.00% compared to Invesco QQQ ETF (QQQ) at 4.49%. This indicates that UCYB'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.

Volatility by Period

	UCYB	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.00%	4.49%	+17.51%
Volatility (6M) Calculated over the trailing 6-month period	42.13%	12.10%	+30.03%
Volatility (1Y) Calculated over the trailing 1-year period	49.49%	15.94%	+33.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.95%	22.38%	+27.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.64%	22.29%	+27.35%

UCYB vs. QQQ - Expense Ratio Comparison

UCYB has a 0.97% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

UCYB vs. QQQ - Dividend Comparison

UCYB's dividend yield for the trailing twelve months is around 1.41%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
UCYB ProShares Ultra Nasdaq Cybersecurity	1.41%	1.90%	2.16%	0.56%	0.00%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UCYB and QQQ in my portfolio?

UCYB and QQQ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCYB or QQQ?

UCYB has higher volatility (22.00%) compared to QQQ (4.49%). In terms of maximum drawdown, UCYB dropped -62.69% vs QQQ's -82.97%.

Which ETF is better, UCYB or QQQ?

On 5-year performance, UCYB leads with 18.61% vs 17.97% for QQQ. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCYB or QQQ?

Over the 5-year period, UCYB has performed better with a 18.61% return vs 17.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCYB or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.97% for UCYB.

Which ETF pays a higher dividend yield, UCYB or QQQ?

UCYB has the higher dividend yield at 1.41%, compared with 0.38% for QQQ.

What is the main difference between UCYB and QQQ?

UCYB is categorized as Leveraged Equities, while QQQ is Nasdaq-100. UCYB tracks Nasdaq CTA Cybersecurity Index (200%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.97% for UCYB and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 vs 0.82), 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.