URSP vs. TQQQ

Last updated Jun 5, 2026

URSP (ProShares Ultra S&P 500 Equal Weight ETF) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds from ProShares - URSP tracks the S&P 500 Equal Weight Index while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. A 0.56 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.

Performance

URSP vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P 500 Equal Weight ETF (URSP) 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, URSP achieves a 18.34% return, which is significantly lower than TQQQ's 61.91% return.

URSP

• 1D: 1.51%
• 1M: 7.08%
• YTD: 18.34%
• 6M: 18.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -1.55%
• 1M: 26.46%
• YTD: 61.91%
• 6M: 54.01%
• 1Y: 132.34%
• 3Y*: 68.49%
• 5Y*: 27.97%
• 10Y*: 44.95%

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

URSP vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025
URSP ProShares Ultra S&P 500 Equal Weight ETF	18.34%	1.57%
TQQQ ProShares UltraPro QQQ	61.91%	16.11%

Correlation

The correlation between URSP and TQQQ is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 28, 2025	0.56

Return for Risk

URSP vs. TQQQ — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 67
TQQQ Omega Ratio Rank: 66
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

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.

URSP vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 Equal Weight ETF (URSP) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	URSP	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.80	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.42	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	0.74	+0.43

Drawdowns

URSP vs. TQQQ - Drawdown Comparison

The maximum URSP drawdown since its inception was -15.72%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for URSP and TQQQ.

Drawdown Indicators

	URSP	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-15.72%	-81.66%	+65.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-36.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-58.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	0.00%	-2.29%	+2.29%
Average Drawdown Average peak-to-trough decline	-3.18%	-18.52%	+15.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.28%	—

Volatility

Volatility by Period

	URSP	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.44%	47.60%	-24.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.44%	66.50%	-43.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.44%	65.95%	-42.51%

URSP vs. TQQQ - Expense Ratio Comparison

Both URSP and TQQQ have an expense ratio of 0.95%.

Dividends

URSP vs. TQQQ - Dividend Comparison

URSP's dividend yield for the trailing twelve months is around 0.58%, more than TQQQ's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.37%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
URSP ProShares Ultra S&P 500 Equal Weight ETF	0.58%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both URSP and TQQQ in my portfolio?

URSP and TQQQ have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, URSP or TQQQ?

Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, URSP or TQQQ?

URSP and TQQQ have the same expense ratio: 0.95% per year.

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

URSP has the higher dividend yield at 0.58%, compared with 0.37% for TQQQ.

What is the main difference between URSP and TQQQ?

URSP tracks S&P 500 Equal Weight Index, while TQQQ tracks NASDAQ-100 Index (300%).