USD vs. LQQ.PA

Last updated Jun 16, 2026

USD (ProShares Ultra Semiconductors) and LQQ.PA (Lyxor UCITS NASDAQ-100 Daily Leverage) are both exchange-traded funds - USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%), while LQQ.PA is a Nasdaq-100 fund tracking the Nasdaq 100® Leverage (2x) index. Both are passively managed. Over the past 3 years, USD returned 115.80%/yr vs 45.59%/yr for LQQ.PA. A 0.57 correlation means they provide meaningful diversification when combined. USD charges 0.95%/yr vs 0.60%/yr for LQQ.PA.

Performance

USD vs. LQQ.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Semiconductors (USD) and Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USD is traded in USD, while LQQ.PA is traded in EUR. To make them comparable, the LQQ.PA values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, USD achieves a 103.68% return, which is significantly higher than LQQ.PA's 38.52% return.

USD

• 1D: 9.00%
• 1M: 11.71%
• YTD: 103.68%
• 6M: 118.16%
• 1Y: 251.95%
• 3Y*: 115.80%
• 5Y*: 68.08%
• 10Y*: 61.82%

LQQ.PA

• 1D: 5.65%
• 1M: 7.74%
• YTD: 38.52%
• 6M: 40.94%
• 1Y: 81.81%
• 3Y*: 45.59%
• 5Y*: —
• 10Y*: —

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

USD vs. LQQ.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USD ProShares Ultra Semiconductors	103.68%	62.08%	139.64%	128.19%
LQQ.PA Lyxor UCITS NASDAQ-100 Daily Leverage	38.52%	29.49%	47.29%	82.44%

Correlation

The correlation between USD and LQQ.PA is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023	0.57

The correlation between USD and LQQ.PA has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

Return for Risk

USD vs. LQQ.PA — Risk / Return Rank

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

USD

USD Risk / Return Rank: 91
USD Sharpe Ratio Rank: 96
USD Sortino Ratio Rank: 85
USD Omega Ratio Rank: 86
USD Calmar Ratio Rank: 96
USD Martin Ratio Rank: 93

LQQ.PA

LQQ.PA Risk / Return Rank: 76
LQQ.PA Sharpe Ratio Rank: 86
LQQ.PA Sortino Ratio Rank: 76
LQQ.PA Omega Ratio Rank: 75
LQQ.PA Calmar Ratio Rank: 78
LQQ.PA Martin Ratio Rank: 67

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.

USD vs. LQQ.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) and Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA). 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	LQQ.PA	Difference
Sharpe ratio: Return per unit of total volatility	3.86	2.48	+1.38
Sortino ratio: Return per unit of downside risk	3.38	3.10	+0.28
Omega ratio: Gain probability vs. loss probability	1.46	1.39	+0.08
Calmar ratio: Return relative to maximum drawdown	7.98	3.53	+4.45
Martin ratio: Return relative to average drawdown	22.33	11.73	+10.60

USD vs. LQQ.PA - Sharpe Ratio Comparison

The current USD Sharpe Ratio is 3.86, which is higher than the LQQ.PA Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of USD and LQQ.PA, 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

USD vs. LQQ.PA - Drawdown Comparison

The maximum USD drawdown since its inception was -88.63%, which is greater than LQQ.PA's maximum drawdown of -42.34%. Use the drawdown chart below to compare losses from any high point for USD and LQQ.PA.

Drawdown Indicators

	USD	LQQ.PA	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-42.34%	-46.29%
Max Drawdown (1Y) Largest decline over 1 year	-31.80%	-22.81%	-8.99%
Max Drawdown (3Y) Largest decline over 3 years	-64.46%	-42.34%	-22.12%
Max Drawdown (5Y) Largest decline over 5 years	-77.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-77.85%	—	—
Current Drawdown Current decline from peak	-5.90%	-1.42%	-4.48%
Average Drawdown Average peak-to-trough decline	-32.32%	-6.61%	-25.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.34%	6.90%	+4.44%

Volatility

USD vs. LQQ.PA - Volatility Comparison

ProShares Ultra Semiconductors (USD) has a higher volatility of 30.47% compared to Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA) at 12.75%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than LQQ.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USD	LQQ.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.47%	12.75%	+17.72%
Volatility (6M) Calculated over the trailing 6-month period	52.98%	25.30%	+27.68%
Volatility (1Y) Calculated over the trailing 1-year period	65.79%	32.54%	+33.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.31%	35.74%	+41.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.69%	35.74%	+33.95%

USD vs. LQQ.PA - Expense Ratio Comparison

USD has a 0.95% expense ratio, which is higher than LQQ.PA's 0.60% expense ratio.

Dividends

USD vs. LQQ.PA - Dividend Comparison

USD's dividend yield for the trailing twelve months is around 0.23%, while LQQ.PA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LQQ.PA Lyxor UCITS NASDAQ-100 Daily Leverage	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.23%	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

Can I hold both USD and LQQ.PA in my portfolio?

USD and LQQ.PA have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USD or LQQ.PA?

On fees, LQQ.PA is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USD or LQQ.PA?

LQQ.PA is cheaper with a 0.60% expense ratio, compared with 0.95% for USD.

What is the main difference between USD and LQQ.PA?

USD is categorized as Leveraged Equities, while LQQ.PA is Nasdaq-100. USD tracks Dow Jones U.S. Semiconductors Index (200%), while LQQ.PA tracks Nasdaq 100® Leverage (2x) index. They also come from different issuers: ProShares and Amundi. Their fees differ too: 0.95% for USD and 0.60% for LQQ.PA.