UYM vs. TQQQ

Last updated Aug 2, 2026

UYM (ProShares Ultra Basic Materials) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds from ProShares - UYM tracks the Dow Jones U.S. Basic Materials Index (200%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, UYM returned 10.90%/yr vs 39.46%/yr for TQQQ. Their 0.61 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.

Performance

UYM vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Basic Materials (UYM) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UYM achieves a 18.79% return, which is significantly lower than TQQQ's 23.06% return. Over the past 10 years, UYM has underperformed TQQQ with an annualized return of 10.90%, while TQQQ has yielded a comparatively higher 39.46% annualized return.

UYM

• 1D: -4.74%
• 1M: -6.27%
• 6M: 1.44%
• YTD: 18.79%
• 1Y: 28.30%
• 3Y*: 5.71%
• 5Y*: 4.36%
• 10Y*: 10.90%
• ALL TIME*: 4.10%

TQQQ

• 1D: 2.09%
• 1M: -11.90%
• 6M: 20.14%
• YTD: 23.06%
• 1Y: 56.87%
• 3Y*: 43.81%
• 5Y*: 15.36%
• 10Y*: 39.46%
• ALL TIME*: 42.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TQQQ ProShares UltraPro QQQ	$4.37B	$4.57B	$5.33B
UYM ProShares Ultra Basic Materials	$206.44K	$227.31K	$267.93K

UYM vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UYM ProShares Ultra Basic Materials	18.79%	9.46%	-8.00%	17.47%	-23.10%	54.58%	16.56%	35.09%	-35.68%	51.51%
TQQQ ProShares UltraPro QQQ	23.06%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between UYM and TQQQ is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.46
Correlation (5Y) Shows whether the relationship held over a longer period.	0.54
Correlation (10Y) Provides a long-term view across more market conditions.	0.54
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.61

Over the past year, the correlation between UYM and TQQQ has dropped to 0.35 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

UYM vs. TQQQ - Sectors Allocation Comparison

Sectors	UYM	TQQQ
Basic Materials	84.6%	1.1%
Consumer Cyclical	15.4%	12.3%
Industrials	1.1%	2.8%
Communication Services	-	15.8%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

UYM vs. TQQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UYM

UYM Risk / Return Rank: 31
UYM Sharpe Ratio Rank: 30
UYM Sortino Ratio Rank: 32
UYM Omega Ratio Rank: 30
UYM Calmar Ratio Rank: 32
UYM Martin Ratio Rank: 31

TQQQ

TQQQ Risk / Return Rank: 36
TQQQ Sharpe Ratio Rank: 34
TQQQ Sortino Ratio Rank: 37
TQQQ Omega Ratio Rank: 36
TQQQ Calmar Ratio Rank: 37
TQQQ Martin Ratio Rank: 36

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UYM vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) and ProShares UltraPro QQQ (TQQQ). 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.

	UYM	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.83	-0.09
Sortino ratio: Return per unit of downside risk	1.22	1.38	-0.16
Omega ratio: Gain probability vs. loss probability	1.14	1.17	-0.03
Calmar ratio: Return relative to maximum drawdown	1.09	1.29	-0.20
Martin ratio: Return relative to average drawdown	2.76	3.60	-0.84

UYM vs. TQQQ - Sharpe Ratio Comparison

The current UYM Sharpe Ratio is 0.73, which is comparable to the TQQQ Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of UYM and TQQQ, 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

UYM vs. TQQQ - Drawdown Comparison

The maximum UYM drawdown since its inception was -92.77%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for UYM and TQQQ.

Drawdown Indicators

	UYM	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-92.77%	-81.66%	-11.11%
Max Drawdown (1Y) Largest decline over 1 year	-23.85%	-36.97%	+13.12%
Max Drawdown (3Y) Largest decline over 3 years	-43.88%	-58.04%	+14.16%
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	-81.66%	+33.41%
Max Drawdown (10Y) Largest decline over 10 years	-73.31%	-81.66%	+8.35%
Current Drawdown Current decline from peak	-13.95%	-25.74%	+11.79%
Average Drawdown Average peak-to-trough decline	-41.85%	-18.49%	-23.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.37%	13.24%	-3.87%

Volatility

UYM vs. TQQQ - Volatility Comparison

The current volatility for ProShares Ultra Basic Materials (UYM) is 11.64%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 20.41%. This indicates that UYM experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UYM	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	20.41%	-8.77%
Volatility (6M) Calculated over the trailing 6-month period	28.50%	47.79%	-19.29%
Volatility (1Y) Calculated over the trailing 1-year period	35.44%	57.62%	-22.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.46%	68.04%	-28.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.76%	66.57%	-23.81%

UYM vs. TQQQ - Expense Ratio Comparison

Both UYM and TQQQ have an expense ratio of 0.95%.

Dividends

UYM vs. TQQQ - Dividend Comparison

UYM's dividend yield for the trailing twelve months is around 1.19%, more than TQQQ's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.58%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
UYM ProShares Ultra Basic Materials	1.19%	1.47%	0.98%	0.28%	0.88%	0.52%	0.56%	1.24%	0.94%	0.38%	0.55%	0.42%

Frequently Asked Questions

Can I hold both UYM and TQQQ in my portfolio?

UYM and TQQQ 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, UYM or TQQQ?

TQQQ has higher volatility (20.41%) compared to UYM (11.64%). In terms of maximum drawdown, UYM dropped -92.77% vs TQQQ's -81.66%.

Which ETF is better, UYM or TQQQ?

On 10-year performance, TQQQ leads with 39.46% vs 10.90% for UYM. Both ETFs have the same 0.95% expense ratio. On volatility, UYM has been the lower-risk option at 11.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYM or TQQQ?

Over the 10-year period, TQQQ has performed better with a 39.46% return vs 10.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYM or TQQQ?

UYM and TQQQ have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, UYM or TQQQ?

UYM has the higher dividend yield at 1.19%, compared with 0.58% for TQQQ.

What is the main difference between UYM and TQQQ?

UYM tracks Dow Jones U.S. Basic Materials Index (200%), while TQQQ tracks NASDAQ-100 Index (300%).

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (0.83 vs 0.73), 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.