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 5.85%/yr vs -55.28%/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 0.83% return, which is significantly higher than SQQQ's -40.27% return. Over the past 10 years, UJB has outperformed SQQQ with an annualized return of 5.85%, while SQQQ has yielded a comparatively lower -55.28% annualized return.
UJB
- 1D
- -0.46%
- 1M
- -0.38%
- 6M
- 0.04%
- YTD
- 0.83%
- 1Y
- 6.23%
- 3Y*
- 10.82%
- 5Y*
- 2.64%
- 10Y*
- 5.85%
SQQQ
- 1D
- 5.74%
- 1M
- 1.37%
- 6M
- -36.57%
- YTD
- -40.27%
- 1Y
- -56.10%
- 3Y*
- -51.78%
- 5Y*
- -45.66%
- 10Y*
- -55.28%
UJB vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 0.83% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
SQQQ ProShares UltraPro Short QQQ | -40.27% | -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 -0.65, 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 | -0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.65 |
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 -0.65, 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 | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.99 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.82 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | -0.92 | +2.17 |
| Martin ratioReturn relative to average drawdown | 5.27 | -1.71 | +6.98 |
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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% | -61.03% | +56.02% |
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% | -99.97% | +59.83% |
Current DrawdownCurrent decline from peak | -0.93% | -100.00% | +99.07% |
Average DrawdownAverage peak-to-trough decline | -6.13% | -92.75% | +86.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 32.78% | -31.60% |
Volatility
UJB vs. SQQQ - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 1.59%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.05%. 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 | 1.59% | 26.05% | -24.46% |
Volatility (6M)Calculated over the trailing 6-month period | 5.91% | 45.88% | -39.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.28% | 55.64% | -48.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.68% | 67.87% | -53.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 66.56% | -48.87% |
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 3.20%, less than SQQQ's 10.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 10.00% | 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 | 3.20% | 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 -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.05%) compared to UJB (1.59%). In terms of maximum drawdown, UJB dropped -40.14% vs SQQQ's -100.00%.
On 10-year performance, UJB leads with 5.85% vs -55.28% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.59%. 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 5.85% return vs -55.28%. 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 10.00%, compared with 3.20% 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 (0.86 vs -1.01), 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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