UXRP vs. SQQQ

Last updated Jul 14, 2026

UXRP (ProShares Ultra XRP ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - UXRP is a Leveraged Cryptocurrency fund tracking the Bloomberg XRP Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. At a correlation of -0.48, they often move in opposite directions. UXRP charges 1.67%/yr vs 0.95%/yr for SQQQ.

Performance

UXRP vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra XRP ETF (UXRP) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UXRP achieves a -77.44% return, which is significantly lower than SQQQ's -40.27% return.

UXRP

• 1D: -7.94%
• 1M: -14.92%
• 6M: -81.67%
• YTD: -77.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SQQQ

• 1D: 5.74%
• 1M: 1.37%
• 6M: -36.57%
• YTD: -40.27%
• 1Y: -56.10%
• 3Y*: -51.78%
• 5Y*: -45.66%
• 10Y*: -55.28%

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

UXRP vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025
UXRP ProShares Ultra XRP ETF	-77.44%	-77.43%
SQQQ ProShares UltraPro Short QQQ	-40.27%	-25.78%

Correlation

The correlation between UXRP and SQQQ is -0.48, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	-0.48

Return for Risk

UXRP vs. SQQQ — Risk / Return Rank

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

UXRP

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

SQQQ

SQQQ Risk / Return Rank: 1
SQQQ Sharpe Ratio Rank: 1
SQQQ Sortino Ratio Rank: 1
SQQQ Omega Ratio Rank: 1
SQQQ Calmar Ratio Rank: 1
SQQQ Martin Ratio Rank: 0

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.

UXRP vs. SQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra XRP ETF (UXRP) and ProShares UltraPro Short QQQ (SQQQ). 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.

	UXRP	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.01	—
Sortino ratio: Return per unit of downside risk	—	-1.69	—
Omega ratio: Gain probability vs. loss probability	—	0.82	—
Calmar ratio: Return relative to maximum drawdown	—	-0.92	—
Martin ratio: Return relative to average drawdown	—	-1.71	—

Drawdowns

UXRP vs. SQQQ - Drawdown Comparison

The maximum UXRP drawdown since its inception was -96.60%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UXRP and SQQQ.

Drawdown Indicators

	UXRP	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-96.60%	-100.00%	+3.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-61.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-92.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.97%	—
Current Drawdown Current decline from peak	-96.42%	-100.00%	+3.58%
Average Drawdown Average peak-to-trough decline	-73.78%	-92.75%	+18.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	32.78%	—

Volatility

Volatility by Period

	UXRP	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	26.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	45.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	146.39%	55.64%	+90.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	146.39%	67.87%	+78.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.39%	66.56%	+79.83%

UXRP vs. SQQQ - Expense Ratio Comparison

UXRP has a 1.67% expense ratio, which is higher than SQQQ's 0.95% expense ratio.

Dividends

UXRP vs. SQQQ - Dividend Comparison

UXRP's dividend yield for the trailing twelve months is around 0.02%, less than SQQQ's 10.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SQQQ ProShares UltraPro Short QQQ	10.00%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%
UXRP ProShares Ultra XRP ETF	0.02%	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 UXRP and SQQQ in my portfolio?

UXRP and SQQQ have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UXRP or SQQQ?

On fees, SQQQ is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UXRP or SQQQ?

SQQQ is cheaper with a 0.95% expense ratio, compared with 1.67% for UXRP.

Which ETF pays a higher dividend yield, UXRP or SQQQ?

SQQQ has the higher dividend yield at 10.00%, compared with 0.02% for UXRP.

What is the main difference between UXRP and SQQQ?

UXRP is categorized as Leveraged Cryptocurrency, while SQQQ is Leveraged Equities. UXRP tracks Bloomberg XRP Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 1.67% for UXRP and 0.95% for SQQQ.