UXI vs. QQQM

Last updated Jun 13, 2026

UXI (ProShares Ultra Industrials) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - UXI is a Leveraged Equities fund tracking the Dow Jones U.S. Industrials Index (200%), while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, UXI returned 12.39%/yr vs 16.94%/yr for QQQM. A 0.67 correlation means they provide meaningful diversification when combined. UXI charges 0.95%/yr vs 0.15%/yr for QQQM.

Performance

UXI vs. QQQM - Performance Comparison

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

Returns By Period

In the year-to-date period, UXI achieves a 23.82% return, which is significantly higher than QQQM's 17.59% return.

UXI

• 1D: 0.84%
• 1M: 1.14%
• YTD: 23.82%
• 6M: 21.89%
• 1Y: 44.03%
• 3Y*: 33.12%
• 5Y*: 12.39%
• 10Y*: 19.65%

QQQM

• 1D: 0.67%
• 1M: 0.22%
• YTD: 17.59%
• 6M: 17.91%
• 1Y: 37.64%
• 3Y*: 26.52%
• 5Y*: 16.94%
• 10Y*: —

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

UXI vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
UXI ProShares Ultra Industrials	23.82%	28.84%	26.48%	27.34%	-32.90%	34.64%	21.40%
QQQM Invesco NASDAQ 100 ETF	17.59%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%

Correlation

The correlation between UXI and QQQM is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.67

The correlation between UXI and QQQM shifts across timeframes, from 0.55 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

UXI vs. QQQM - Sectors Allocation Comparison

Sectors	UXI	QQQM
Industrials	56.8%	2.8%
Utilities	3.0%	1.4%
Technology	2.4%	53.8%
Consumer Cyclical	0.3%	12.3%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Real Estate	-	0.1%

Return for Risk

UXI vs. QQQM — Risk / Return Rank

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

UXI

UXI Risk / Return Rank: 41
UXI Sharpe Ratio Rank: 41
UXI Sortino Ratio Rank: 41
UXI Omega Ratio Rank: 38
UXI Calmar Ratio Rank: 40
UXI Martin Ratio Rank: 43

QQQM

QQQM Risk / Return Rank: 72
QQQM Sharpe Ratio Rank: 76
QQQM Sortino Ratio Rank: 71
QQQM Omega Ratio Rank: 73
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 70

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. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Industrials (UXI) and Invesco NASDAQ 100 ETF (QQQM). 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	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.29	2.11	-0.82
Sortino ratio: Return per unit of downside risk	1.88	2.74	-0.87
Omega ratio: Gain probability vs. loss probability	1.22	1.37	-0.15
Calmar ratio: Return relative to maximum drawdown	1.76	3.02	-1.25
Martin ratio: Return relative to average drawdown	6.23	11.23	-5.00

UXI vs. QQQM - Sharpe Ratio Comparison

The current UXI Sharpe Ratio is 1.29, which is lower than the QQQM Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of UXI and QQQM, 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. QQQM - Drawdown Comparison

The maximum UXI drawdown since its inception was -89.01%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for UXI and QQQM.

Drawdown Indicators

	UXI	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-89.01%	-35.04%	-53.97%
Max Drawdown (1Y) Largest decline over 1 year	-23.59%	-11.96%	-11.63%
Max Drawdown (3Y) Largest decline over 3 years	-36.42%	-22.70%	-13.72%
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	-35.04%	-13.21%
Max Drawdown (10Y) Largest decline over 10 years	-66.48%	—	—
Current Drawdown Current decline from peak	-5.56%	-3.33%	-2.23%
Average Drawdown Average peak-to-trough decline	-22.58%	-8.23%	-14.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.67%	3.21%	+3.46%

Volatility

UXI vs. QQQM - Volatility Comparison

ProShares Ultra Industrials (UXI) has a higher volatility of 12.20% compared to Invesco NASDAQ 100 ETF (QQQM) at 7.45%. This indicates that UXI's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UXI	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.20%	7.45%	+4.75%
Volatility (6M) Calculated over the trailing 6-month period	27.14%	13.71%	+13.43%
Volatility (1Y) Calculated over the trailing 1-year period	32.32%	17.11%	+15.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.13%	22.40%	+13.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.52%	22.22%	+17.30%

UXI vs. QQQM - Expense Ratio Comparison

UXI has a 0.95% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

UXI vs. QQQM - Dividend Comparison

UXI's dividend yield for the trailing twelve months is around 0.66%, more than QQQM's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQM Invesco NASDAQ 100 ETF	0.43%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%
UXI ProShares Ultra Industrials	0.66%	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 QQQM in my portfolio?

UXI and QQQM have a correlation of 0.55, 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 QQQM?

UXI has higher volatility (12.20%) compared to QQQM (7.45%). In terms of maximum drawdown, UXI dropped -89.01% vs QQQM's -35.04%.

Which ETF is better, UXI or QQQM?

On 5-year performance, QQQM leads with 16.94% vs 12.39% for UXI. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQQM has been the lower-risk option at 7.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UXI or QQQM?

Over the 5-year period, QQQM has performed better with a 16.94% return vs 12.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UXI or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.95% for UXI.

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

UXI has the higher dividend yield at 0.66%, compared with 0.43% for QQQM.

What is the main difference between UXI and QQQM?

UXI is categorized as Leveraged Equities, while QQQM is Nasdaq-100. UXI tracks Dow Jones U.S. Industrials Index (200%), while QQQM tracks NASDAQ-100 Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for UXI and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.11 vs 1.29), 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.