UCYB vs. TQQQ

Last updated Jun 23, 2026

UCYB (ProShares Ultra Nasdaq Cybersecurity) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds from ProShares - UCYB tracks the Nasdaq CTA Cybersecurity Index (200%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, UCYB returned 11.24%/yr vs 24.47%/yr for TQQQ. A 0.73 correlation means they provide meaningful diversification when combined. UCYB charges 0.97%/yr vs 0.95%/yr for TQQQ.

Performance

UCYB vs. TQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, UCYB achieves a 27.17% return, which is significantly lower than TQQQ's 56.90% return.

UCYB

• 1D: -2.39%
• 1M: -3.48%
• YTD: 27.17%
• 6M: 20.29%
• 1Y: 20.14%
• 3Y*: 36.00%
• 5Y*: 11.24%
• 10Y*: —

TQQQ

• 1D: -0.35%
• 1M: 6.09%
• YTD: 56.90%
• 6M: 52.71%
• 1Y: 129.55%
• 3Y*: 63.58%
• 5Y*: 24.47%
• 10Y*: 47.00%

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

UCYB vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UCYB ProShares Ultra Nasdaq Cybersecurity	27.17%	9.41%	28.84%	68.85%	-55.15%	27.53%
TQQQ ProShares UltraPro QQQ	56.90%	34.35%	58.27%	198.04%	-79.09%	68.04%

Correlation

The correlation between UCYB and TQQQ is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021	0.74

The correlation between UCYB and TQQQ shifts across timeframes, from 0.60 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.

UCYB vs. TQQQ - Sectors Allocation Comparison

Sectors	UCYB	TQQQ
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. TQQQ — Risk / Return Rank

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

UCYB

UCYB Risk / Return Rank: 15
UCYB Sharpe Ratio Rank: 14
UCYB Sortino Ratio Rank: 17
UCYB Omega Ratio Rank: 17
UCYB Calmar Ratio Rank: 14
UCYB Martin Ratio Rank: 13

TQQQ

TQQQ Risk / Return Rank: 68
TQQQ Sharpe Ratio Rank: 81
TQQQ Sortino Ratio Rank: 59
TQQQ Omega Ratio Rank: 63
TQQQ Calmar Ratio Rank: 72
TQQQ Martin Ratio Rank: 64

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. TQQQ - Risk-Adjusted Trends Comparison

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

	UCYB	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.40	2.49	-2.09
Sortino ratio: Return per unit of downside risk	0.88	2.72	-1.84
Omega ratio: Gain probability vs. loss probability	1.11	1.36	-0.25
Calmar ratio: Return relative to maximum drawdown	0.47	3.53	-3.06
Martin ratio: Return relative to average drawdown	1.02	11.25	-10.23

UCYB vs. TQQQ - Sharpe Ratio Comparison

The current UCYB Sharpe Ratio is 0.40, which is lower than the TQQQ Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of UCYB and TQQQ, 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

UCYB vs. TQQQ - Drawdown Comparison

The maximum UCYB drawdown since its inception was -62.69%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for UCYB and TQQQ.

Drawdown Indicators

	UCYB	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-62.69%	-81.66%	+18.97%
Max Drawdown (1Y) Largest decline over 1 year	-43.04%	-36.97%	-6.07%
Max Drawdown (3Y) Largest decline over 3 years	-43.04%	-58.04%	+15.00%
Max Drawdown (5Y) Largest decline over 5 years	-62.69%	-81.66%	+18.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-22.58%	-5.32%	-17.26%
Average Drawdown Average peak-to-trough decline	-27.39%	-18.50%	-8.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.77%	11.56%	+8.21%

Volatility

UCYB vs. TQQQ - Volatility Comparison

ProShares Ultra Nasdaq Cybersecurity (UCYB) and ProShares UltraPro QQQ (TQQQ) have volatilities of 24.94% and 25.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCYB	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.94%	25.07%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	43.79%	42.17%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	51.16%	52.51%	-1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.23%	67.26%	-17.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.76%	66.36%	-16.60%

UCYB vs. TQQQ - Expense Ratio Comparison

UCYB has a 0.97% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

UCYB vs. TQQQ - Dividend Comparison

UCYB's dividend yield for the trailing twelve months is around 1.70%, more than TQQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.38%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
UCYB ProShares Ultra Nasdaq Cybersecurity	1.70%	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 TQQQ in my portfolio?

UCYB and TQQQ have a correlation of 0.60, 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 TQQQ?

TQQQ has higher volatility (25.07%) compared to UCYB (24.94%). In terms of maximum drawdown, UCYB dropped -62.69% vs TQQQ's -81.66%.

Which ETF is better, UCYB or TQQQ?

On 5-year performance, TQQQ leads with 24.47% vs 11.24% for UCYB. On fees, TQQQ is cheaper at 0.95% per year. On volatility, UCYB has been the lower-risk option at 24.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCYB or TQQQ?

Over the 5-year period, TQQQ has performed better with a 24.47% return vs 11.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCYB or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 0.97% for UCYB.

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

UCYB has the higher dividend yield at 1.70%, compared with 0.38% for TQQQ.

What is the main difference between UCYB and TQQQ?

UCYB tracks Nasdaq CTA Cybersecurity Index (200%), while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 0.97% for UCYB and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.49 vs 0.40), 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.