UYG vs. IQQQ

Last updated Jun 28, 2026

UYG (ProShares Ultra Financials) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - UYG is a Leveraged Equities fund tracking the Dow Jones U.S. Financials 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, UYG returned 1.43% vs 26.55% for IQQQ. At a 0.41 correlation, their price movements are largely independent. UYG charges 0.95%/yr vs 0.55%/yr for IQQQ.

Performance

UYG vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Financials (UYG) 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, UYG achieves a -6.60% return, which is significantly lower than IQQQ's 12.97% return.

UYG

• 1D: 0.38%
• 1M: 9.36%
• YTD: -6.60%
• 6M: -9.22%
• 1Y: 1.43%
• 3Y*: 30.40%
• 5Y*: 11.29%
• 10Y*: 18.50%

IQQQ

• 1D: -0.86%
• 1M: -3.74%
• YTD: 12.97%
• 6M: 11.34%
• 1Y: 26.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UYG vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UYG ProShares Ultra Financials	-6.60%	19.77%	32.24%
IQQQ ProShares Nasdaq-100 High Income ETF	12.97%	17.11%	14.82%

Correlation

The correlation between UYG and IQQQ is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.41

Return for Risk

UYG vs. IQQQ — Risk / Return Rank

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

UYG

UYG Risk / Return Rank: 10
UYG Sharpe Ratio Rank: 10
UYG Sortino Ratio Rank: 10
UYG Omega Ratio Rank: 10
UYG Calmar Ratio Rank: 10
UYG Martin Ratio Rank: 10

IQQQ

IQQQ Risk / Return Rank: 51
IQQQ Sharpe Ratio Rank: 52
IQQQ Sortino Ratio Rank: 47
IQQQ Omega Ratio Rank: 48
IQQQ Calmar Ratio Rank: 56
IQQQ Martin Ratio Rank: 53

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.

UYG vs. IQQQ - Risk-Adjusted Trends Comparison

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

	UYG	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.06	1.60	-1.54
Sortino ratio: Return per unit of downside risk	0.28	2.12	-1.84
Omega ratio: Gain probability vs. loss probability	1.03	1.28	-0.24
Calmar ratio: Return relative to maximum drawdown	0.06	2.45	-2.38
Martin ratio: Return relative to average drawdown	0.15	8.28	-8.13

UYG vs. IQQQ - Sharpe Ratio Comparison

The current UYG Sharpe Ratio is 0.06, which is lower than the IQQQ Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of UYG 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

UYG vs. IQQQ - Drawdown Comparison

The maximum UYG drawdown since its inception was -97.90%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for UYG and IQQQ.

Drawdown Indicators

	UYG	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-97.90%	-20.41%	-77.49%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-11.13%	-17.78%
Max Drawdown (3Y) Largest decline over 3 years	-30.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.98%	—	—
Current Drawdown Current decline from peak	-11.79%	-5.13%	-6.66%
Average Drawdown Average peak-to-trough decline	-63.19%	-3.63%	-59.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.34%	3.28%	+9.06%

Volatility

UYG vs. IQQQ - Volatility Comparison

ProShares Ultra Financials (UYG) and ProShares Nasdaq-100 High Income ETF (IQQQ) have volatilities of 7.98% and 8.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UYG	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.98%	8.24%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	22.38%	13.60%	+8.78%
Volatility (1Y) Calculated over the trailing 1-year period	28.93%	17.03%	+11.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.12%	19.05%	+17.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.90%	19.05%	+21.85%

UYG vs. IQQQ - Expense Ratio Comparison

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

Dividends

UYG vs. IQQQ - Dividend Comparison

UYG's dividend yield for the trailing twelve months is around 12.50%, more than IQQQ's 4.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQQQ ProShares Nasdaq-100 High Income ETF	4.65%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UYG ProShares Ultra Financials	12.50%	11.72%	0.51%	0.79%	0.77%	9.39%	0.66%	0.90%	1.28%	0.56%	0.76%	0.72%

Frequently Asked Questions

Can I hold both UYG and IQQQ in my portfolio?

UYG and IQQQ have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UYG or IQQQ?

IQQQ has higher volatility (8.24%) compared to UYG (7.98%). In terms of maximum drawdown, UYG dropped -97.90% vs IQQQ's -20.41%.

Which ETF is better, UYG or IQQQ?

On 1-year performance, IQQQ leads with 26.55% vs 1.43% for UYG. On fees, IQQQ is cheaper at 0.55% per year. On volatility, UYG has been the lower-risk option at 7.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYG or IQQQ?

Over the 1-year period, IQQQ has performed better with a 26.55% return vs 1.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYG or IQQQ?

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

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

UYG has the higher dividend yield at 12.50%, compared with 4.65% for IQQQ.

What is the main difference between UYG and IQQQ?

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

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.60 vs 0.06), 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.