UXI vs. IQQQ

Last updated Jul 15, 2026

UXI (ProShares Ultra Industrials) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - UXI is a Leveraged Equities fund tracking the Dow Jones U.S. Industrials 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, UXI returned 34.37% vs 26.85% for IQQQ. A 0.60 correlation means they provide meaningful diversification when combined. UXI charges 0.95%/yr vs 0.55%/yr for IQQQ.

Performance

UXI vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Industrials (UXI) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UXI achieves a 29.83% return, which is significantly higher than IQQQ's 14.90% return.

UXI

• 1D: 0.34%
• 1M: 4.85%
• 6M: 16.74%
• YTD: 29.83%
• 1Y: 34.37%
• 3Y*: 31.64%
• 5Y*: 13.11%
• 10Y*: 19.09%

IQQQ

• 1D: 1.08%
• 1M: -0.58%
• 6M: 12.88%
• YTD: 14.90%
• 1Y: 26.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UXI vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UXI ProShares Ultra Industrials	29.83%	28.84%	10.00%
IQQQ ProShares Nasdaq-100 High Income ETF	14.90%	17.11%	14.82%

Correlation

The correlation between UXI and IQQQ 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 (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.60

The correlation between UXI and IQQQ has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.

Return for Risk

UXI vs. IQQQ — Risk / Return Rank

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

UXI

UXI Risk / Return Rank: 36
UXI Sharpe Ratio Rank: 35
UXI Sortino Ratio Rank: 36
UXI Omega Ratio Rank: 33
UXI Calmar Ratio Rank: 35
UXI Martin Ratio Rank: 40

IQQQ

IQQQ Risk / Return Rank: 56
IQQQ Sharpe Ratio Rank: 56
IQQQ Sortino Ratio Rank: 52
IQQQ Omega Ratio Rank: 52
IQQQ Calmar Ratio Rank: 61
IQQQ Martin Ratio Rank: 58

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.

UXI vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Industrials (UXI) 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.

	UXI	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.53	-0.49
Sortino ratio: Return per unit of downside risk	1.59	2.04	-0.45
Omega ratio: Gain probability vs. loss probability	1.19	1.26	-0.08
Calmar ratio: Return relative to maximum drawdown	1.46	2.42	-0.96
Martin ratio: Return relative to average drawdown	5.13	7.99	-2.86

UXI vs. IQQQ - Sharpe Ratio Comparison

The current UXI Sharpe Ratio is 1.04, which is lower than the IQQQ Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of UXI and IQQQ, 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

UXI vs. IQQQ - Drawdown Comparison

The maximum UXI drawdown since its inception was -89.01%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for UXI and IQQQ.

Drawdown Indicators

	UXI	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-89.01%	-20.41%	-68.60%
Max Drawdown (1Y) Largest decline over 1 year	-23.59%	-11.13%	-12.46%
Max Drawdown (3Y) Largest decline over 3 years	-36.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.48%	—	—
Current Drawdown Current decline from peak	-5.50%	-3.51%	-1.99%
Average Drawdown Average peak-to-trough decline	-22.50%	-3.63%	-18.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.72%	3.37%	+3.35%

Volatility

UXI vs. IQQQ - Volatility Comparison

ProShares Ultra Industrials (UXI) has a higher volatility of 9.95% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 7.33%. This indicates that UXI'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.

Volatility by Period

	UXI	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.95%	7.33%	+2.62%
Volatility (6M) Calculated over the trailing 6-month period	27.42%	14.35%	+13.07%
Volatility (1Y) Calculated over the trailing 1-year period	33.19%	17.61%	+15.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.22%	19.15%	+17.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.45%	19.15%	+20.30%

UXI vs. IQQQ - Expense Ratio Comparison

UXI has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

UXI vs. IQQQ - Dividend Comparison

UXI's dividend yield for the trailing twelve months is around 0.50%, less than IQQQ's 5.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQQQ ProShares Nasdaq-100 High Income ETF	5.20%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UXI ProShares Ultra Industrials	0.50%	0.90%	0.18%	0.21%	0.24%	0.03%	0.29%	0.58%	0.37%	0.24%	0.38%	0.41%

Frequently Asked Questions

Can I hold both UXI and IQQQ in my portfolio?

UXI and IQQQ 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 is riskier, UXI or IQQQ?

UXI has higher volatility (9.95%) compared to IQQQ (7.33%). In terms of maximum drawdown, UXI dropped -89.01% vs IQQQ's -20.41%.

Which ETF is better, UXI or IQQQ?

On 1-year performance, UXI leads with 34.37% vs 26.85% for IQQQ. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 7.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UXI or IQQQ?

Over the 1-year period, UXI has performed better with a 34.37% return vs 26.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UXI or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for UXI.

Which ETF pays a higher dividend yield, UXI or IQQQ?

IQQQ has the higher dividend yield at 5.20%, compared with 0.50% for UXI.

What is the main difference between UXI and IQQQ?

UXI is categorized as Leveraged Equities, while IQQQ is Nasdaq-100. UXI tracks Dow Jones U.S. Industrials Index (200%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for UXI and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.53 vs 1.04), 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.