USD vs. IQQQ
USD (ProShares Ultra Semiconductors) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%), while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, USD returned 98.72% vs 23.94% for IQQQ. Their correlation of 0.83 means they have usually moved in the same direction. USD charges 0.95%/yr vs 0.55%/yr for IQQQ.
Performance
USD vs. IQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, USD achieves a 55.27% return, which is significantly higher than IQQQ's 11.89% return.
USD
- 1D
- 3.34%
- 1M
- -7.07%
- 6M
- 41.04%
- YTD
- 55.27%
- 1Y
- 98.72%
- 3Y*
- 95.45%
- 5Y*
- 54.39%
- 10Y*
- 53.94%
- ALL TIME*
- 28.27%
IQQQ
- 1D
- 1.65%
- 1M
- -1.59%
- 6M
- 9.64%
- YTD
- 11.89%
- 1Y
- 23.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.03M | $2.38M | $2.95M | |
| $71.31M | $70.59M | $96.20M |
USD vs. IQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
USD ProShares Ultra Semiconductors | 55.27% | 62.08% | 39.46% |
IQQQ ProShares Nasdaq-100 High Income ETF | 11.89% | 17.11% | 14.82% |
Correlation
The correlation between USD and IQQQ is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024 | 0.83 |
The correlation between USD and IQQQ has been stable across timeframes, ranging from 0.83 to 0.83 - a consistent structural relationship.
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Return for Risk
USD vs. IQQQ — Risk / Return Rank
USD
IQQQ
USD vs. IQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) 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.
| USD | IQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.14 | +0.39 |
| Martin ratioReturn relative to average drawdown | 7.21 | 6.34 | +0.87 |
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Drawdowns
USD vs. IQQQ - Drawdown Comparison
The maximum USD drawdown since its inception was -88.63%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for USD and IQQQ.
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Drawdown Indicators
| USD | IQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.63% | -20.41% | -68.22% |
Max Drawdown (1Y)Largest decline over 1 year | -39.33% | -11.25% | -28.08% |
Max Drawdown (3Y)Largest decline over 3 years | -64.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -77.85% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -77.85% | — | — |
Current DrawdownCurrent decline from peak | -28.27% | -6.04% | -22.23% |
Average DrawdownAverage peak-to-trough decline | -32.23% | -3.71% | -28.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.74% | 3.78% | +9.96% |
Volatility
USD vs. IQQQ - Volatility Comparison
ProShares Ultra Semiconductors (USD) has a higher volatility of 27.45% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 6.91%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USD | IQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.45% | 6.91% | +20.54% |
Volatility (6M)Calculated over the trailing 6-month period | 61.08% | 15.14% | +45.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.76% | 18.47% | +55.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.77% | 19.31% | +59.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.41% | 19.31% | +51.10% |
USD vs. IQQQ - Expense Ratio Comparison
USD has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.
Dividends
USD vs. IQQQ - Dividend Comparison
USD's dividend yield for the trailing twelve months is around 0.37%, less than IQQQ's 5.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IQQQ ProShares Nasdaq-100 High Income ETF | 5.81% | 10.34% | 7.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.37% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
USD and IQQQ have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (27.45%) compared to IQQQ (6.91%). In terms of maximum drawdown, USD dropped -88.63% vs IQQQ's -20.41%.
On 1-year performance, USD leads with 98.72% vs 23.94% for IQQQ. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 6.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USD has performed better with a 98.72% return vs 23.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for USD.
IQQQ has the higher dividend yield at 5.81%, compared with 0.37% for USD.
USD is categorized as Leveraged Equities, while IQQQ is Nasdaq-100. USD tracks Dow Jones U.S. Semiconductors Index (200%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for USD and 0.55% for IQQQ.
USD currently has the higher Sharpe Ratio (1.35 vs 1.30), 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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