UJB vs. SQQQ
UJB (ProShares Ultra High Yield) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - UJB is a Leveraged Bonds fund tracking the Markit iBoxx $ Liquid High Yield Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, UJB returned 5.51%/yr vs -56.24%/yr for SQQQ. At a correlation of -0.44, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
UJB vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, UJB achieves a 1.07% return, which is significantly higher than SQQQ's -40.31% return. Over the past 10 years, UJB has outperformed SQQQ with an annualized return of 5.51%, while SQQQ has yielded a comparatively lower -56.24% annualized return.
UJB
- 1D
- -0.12%
- 1M
- 0.61%
- YTD
- 1.07%
- 6M
- 1.41%
- 1Y
- 7.39%
- 3Y*
- 12.18%
- 5Y*
- 2.81%
- 10Y*
- 5.51%
SQQQ
- 1D
- 9.83%
- 1M
- -2.27%
- YTD
- -40.31%
- 6M
- -37.80%
- 1Y
- -61.11%
- 3Y*
- -53.86%
- 5Y*
- -46.89%
- 10Y*
- -56.24%
UJB vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 1.07% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
SQQQ ProShares UltraPro Short QQQ | -40.31% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between UJB and SQQQ is -0.67, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | -0.44 |
Over the past year, the inverse relationship between UJB and SQQQ has strengthened: their correlation has moved from -0.44 to -0.67, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
UJB vs. SQQQ — Risk / Return Rank
UJB
SQQQ
UJB vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.15 | ||
| Sortino ratioReturn per unit of downside risk | +3.59 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.78 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -0.96 | +2.44 |
| Martin ratioReturn relative to average drawdown | 6.23 | -1.81 | +8.04 |
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Drawdowns
UJB vs. SQQQ - Drawdown Comparison
The maximum UJB drawdown since its inception was -40.14%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UJB and SQQQ.
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Drawdown Indicators
| UJB | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.14% | -100.00% | +59.86% |
Max Drawdown (1Y)Largest decline over 1 year | -5.01% | -63.52% | +58.51% |
Max Drawdown (3Y)Largest decline over 3 years | -9.47% | -92.51% | +83.04% |
Max Drawdown (5Y)Largest decline over 5 years | -30.14% | -97.27% | +67.13% |
Max Drawdown (10Y)Largest decline over 10 years | -40.14% | -99.98% | +59.84% |
Current DrawdownCurrent decline from peak | -0.59% | -100.00% | +99.41% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -92.73% | +86.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 36.37% | -35.18% |
Volatility
UJB vs. SQQQ - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 1.96%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. This indicates that UJB experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UJB | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 26.69% | -24.73% |
Volatility (6M)Calculated over the trailing 6-month period | 5.90% | 43.33% | -37.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.37% | 53.65% | -46.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 67.53% | -52.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 66.47% | -48.45% |
UJB vs. SQQQ - Expense Ratio Comparison
Both UJB and SQQQ have an expense ratio of 0.95%.
Dividends
UJB vs. SQQQ - Dividend Comparison
UJB's dividend yield for the trailing twelve months is around 3.34%, less than SQQQ's 11.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 11.44% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% | 0.00% | 0.00% |
UJB ProShares Ultra High Yield | 3.34% | 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
UJB and SQQQ have a correlation of -0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.69%) compared to UJB (1.96%). In terms of maximum drawdown, UJB dropped -40.14% vs SQQQ's -100.00%.
On 10-year performance, UJB leads with 5.51% vs -56.24% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UJB has performed better with a 5.51% return vs -56.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UJB and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 11.44%, compared with 3.34% for UJB.
UJB is categorized as Leveraged Bonds, while SQQQ is Leveraged Equities. UJB tracks Markit iBoxx $ Liquid High Yield Index, while SQQQ tracks NASDAQ-100 Index (-300%).
UJB currently has the higher Sharpe Ratio (1.01 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.
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