UJB vs. IQQQ

Last updated Jul 15, 2026

UJB (ProShares Ultra High Yield) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - UJB is a Leveraged Bonds fund tracking the Markit iBoxx $ Liquid High Yield Index, while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, UJB returned 6.41% vs 26.85% for IQQQ. A 0.61 correlation means they provide meaningful diversification when combined. UJB charges 0.95%/yr vs 0.55%/yr for IQQQ.

Performance

UJB vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra High Yield (UJB) 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, UJB achieves a 1.19% return, which is significantly lower than IQQQ's 14.90% return.

UJB

• 1D: 0.35%
• 1M: -0.02%
• 6M: 0.41%
• YTD: 1.19%
• 1Y: 6.41%
• 3Y*: 10.95%
• 5Y*: 2.71%
• 10Y*: 5.88%

IQQQ

• 1D: 1.08%
• 1M: -0.58%
• 6M: 12.88%
• YTD: 14.90%
• 1Y: 26.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UJB vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UJB ProShares Ultra High Yield	1.19%	12.22%	7.99%
IQQQ ProShares Nasdaq-100 High Income ETF	14.90%	17.11%	14.82%

Correlation

The correlation between UJB and IQQQ is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.61

The correlation between UJB and IQQQ has been stable across timeframes, ranging from 0.61 to 0.64 - a consistent structural relationship.

Return for Risk

UJB vs. IQQQ — Risk / Return Rank

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

UJB

UJB Risk / Return Rank: 32
UJB Sharpe Ratio Rank: 29
UJB Sortino Ratio Rank: 29
UJB Omega Ratio Rank: 29
UJB Calmar Ratio Rank: 31
UJB Martin Ratio Rank: 42

IQQQ

IQQQ Risk / Return Rank: 56
IQQQ Sharpe Ratio Rank: 56
IQQQ Sortino Ratio Rank: 52
IQQQ Omega Ratio Rank: 52
IQQQ Calmar Ratio Rank: 61
IQQQ Martin Ratio Rank: 58

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.

UJB vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) 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.

	UJB	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.53	-0.65
Sortino ratio: Return per unit of downside risk	1.33	2.04	-0.71
Omega ratio: Gain probability vs. loss probability	1.17	1.26	-0.10
Calmar ratio: Return relative to maximum drawdown	1.28	2.42	-1.14
Martin ratio: Return relative to average drawdown	5.42	7.99	-2.57

UJB vs. IQQQ - Sharpe Ratio Comparison

The current UJB Sharpe Ratio is 0.88, which is lower than the IQQQ Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of UJB 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

UJB vs. IQQQ - Drawdown Comparison

The maximum UJB drawdown since its inception was -40.14%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for UJB and IQQQ.

Drawdown Indicators

	UJB	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-20.41%	-19.73%
Max Drawdown (1Y) Largest decline over 1 year	-5.01%	-11.13%	+6.12%
Max Drawdown (3Y) Largest decline over 3 years	-9.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.14%	—	—
Current Drawdown Current decline from peak	-0.58%	-3.51%	+2.93%
Average Drawdown Average peak-to-trough decline	-6.13%	-3.63%	-2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	3.37%	-2.19%

Volatility

UJB vs. IQQQ - Volatility Comparison

The current volatility for ProShares Ultra High Yield (UJB) is 1.27%, while ProShares Nasdaq-100 High Income ETF (IQQQ) has a volatility of 7.33%. This indicates that UJB experiences smaller price fluctuations and is considered to be less risky than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UJB	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	7.33%	-6.06%
Volatility (6M) Calculated over the trailing 6-month period	5.92%	14.35%	-8.43%
Volatility (1Y) Calculated over the trailing 1-year period	7.28%	17.61%	-10.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.68%	19.15%	-4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	19.15%	-1.46%

UJB vs. IQQQ - Expense Ratio Comparison

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

Dividends

UJB vs. IQQQ - Dividend Comparison

UJB's dividend yield for the trailing twelve months is around 3.19%, less than IQQQ's 5.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQQQ ProShares Nasdaq-100 High Income ETF	5.20%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UJB ProShares Ultra High Yield	3.19%	2.61%	3.02%	3.92%	0.05%	0.63%	2.88%	3.95%	3.22%	2.67%	2.35%	3.62%

Frequently Asked Questions

Can I hold both UJB and IQQQ in my portfolio?

UJB and IQQQ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UJB or IQQQ?

IQQQ has higher volatility (7.33%) compared to UJB (1.27%). In terms of maximum drawdown, UJB dropped -40.14% vs IQQQ's -20.41%.

Which ETF is better, UJB or IQQQ?

On 1-year performance, IQQQ leads with 26.85% vs 6.41% for UJB. On fees, IQQQ is cheaper at 0.55% per year. On volatility, UJB has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UJB or IQQQ?

Over the 1-year period, IQQQ has performed better with a 26.85% return vs 6.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UJB or IQQQ?

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

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

IQQQ has the higher dividend yield at 5.20%, compared with 3.19% for UJB.

What is the main difference between UJB and IQQQ?

UJB is categorized as Leveraged Bonds, while IQQQ is Nasdaq-100. UJB tracks Markit iBoxx $ Liquid High Yield Index, while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for UJB and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.53 vs 0.88), 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.