VINAX vs. QLD

Last updated Jun 24, 2026

VINAX (Vanguard Industrials Index Fund Admiral Shares) and QLD (ProShares Ultra QQQ) are both funds - VINAX is a Industrials Equities fund managed by Vanguard, while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Over the past 10 years, VINAX returned 14.83%/yr vs 36.27%/yr for QLD. A 0.73 correlation means they provide meaningful diversification when combined. VINAX charges 0.10%/yr vs 0.95%/yr for QLD.

Performance

VINAX vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Industrials Index Fund Admiral Shares (VINAX) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VINAX achieves a 19.51% return, which is significantly lower than QLD's 29.58% return. Over the past 10 years, VINAX has underperformed QLD with an annualized return of 14.83%, while QLD has yielded a comparatively higher 36.27% annualized return.

VINAX

• 1D: 0.65%
• 1M: 5.81%
• YTD: 19.51%
• 6M: 17.58%
• 1Y: 31.37%
• 3Y*: 23.06%
• 5Y*: 14.23%
• 10Y*: 14.83%

QLD

• 1D: -6.61%
• 1M: -2.02%
• YTD: 29.58%
• 6M: 26.13%
• 1Y: 66.80%
• 3Y*: 43.61%
• 5Y*: 21.41%
• 10Y*: 36.27%

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

VINAX vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VINAX Vanguard Industrials Index Fund Admiral Shares	19.51%	18.53%	16.95%	22.38%	-8.51%	20.66%	12.25%	30.16%	-13.93%	21.50%
QLD ProShares Ultra QQQ	29.58%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%

Correlation

The correlation between VINAX and QLD is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.73

The correlation between VINAX and QLD shifts across timeframes, from 0.57 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.

VINAX vs. QLD - Sectors Allocation Comparison

Sectors	VINAX	QLD
Industrials	90.2%	2.6%
Technology	4.2%	58.7%
Utilities	3.8%	1.2%
Consumer Cyclical	1.1%	11.4%
Financial Services	0.2%	0.2%
Energy	0.2%	0.5%
Basic Materials	0.1%	1.0%
Communication Services	0.0%	14.3%
Real Estate	0.0%	0.1%
Healthcare	0.0%	3.7%
Consumer Defensive	-	6.4%

Return for Risk

VINAX vs. QLD — Risk / Return Rank

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

VINAX

VINAX Risk / Return Rank: 51
VINAX Sharpe Ratio Rank: 50
VINAX Sortino Ratio Rank: 48
VINAX Omega Ratio Rank: 43
VINAX Calmar Ratio Rank: 55
VINAX Martin Ratio Rank: 60

QLD

QLD Risk / Return Rank: 53
QLD Sharpe Ratio Rank: 58
QLD Sortino Ratio Rank: 49
QLD Omega Ratio Rank: 51
QLD Calmar Ratio Rank: 56
QLD Martin Ratio Rank: 54

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.

VINAX vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Industrials Index Fund Admiral Shares (VINAX) and ProShares Ultra QQQ (QLD). 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.

	VINAX	QLD	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.88	+0.05
Sortino ratio: Return per unit of downside risk	2.70	2.33	+0.36
Omega ratio: Gain probability vs. loss probability	1.33	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	2.72	2.67	+0.04
Martin ratio: Return relative to average drawdown	11.24	9.05	+2.19

VINAX vs. QLD - Sharpe Ratio Comparison

The current VINAX Sharpe Ratio is 1.92, which is comparable to the QLD Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of VINAX and QLD, 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

VINAX vs. QLD - Drawdown Comparison

The maximum VINAX drawdown since its inception was -63.43%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for VINAX and QLD.

Drawdown Indicators

	VINAX	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-63.43%	-83.13%	+19.70%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-25.13%	+12.88%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-42.29%	+21.70%
Max Drawdown (5Y) Largest decline over 5 years	-23.07%	-63.68%	+40.61%
Max Drawdown (10Y) Largest decline over 10 years	-42.45%	-63.68%	+21.23%
Current Drawdown Current decline from peak	0.00%	-9.26%	+9.26%
Average Drawdown Average peak-to-trough decline	-8.33%	-18.14%	+9.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	7.40%	-4.45%

Volatility

VINAX vs. QLD - Volatility Comparison

The current volatility for Vanguard Industrials Index Fund Admiral Shares (VINAX) is 6.15%, while ProShares Ultra QQQ (QLD) has a volatility of 18.22%. This indicates that VINAX experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VINAX	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.15%	18.22%	-12.07%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	28.95%	-14.73%
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	35.77%	-18.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	45.34%	-26.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	44.80%	-24.26%

VINAX vs. QLD - Expense Ratio Comparison

VINAX has a 0.10% expense ratio, which is lower than QLD's 0.95% expense ratio.

Dividends

VINAX vs. QLD - Dividend Comparison

VINAX's dividend yield for the trailing twelve months is around 0.85%, more than QLD's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLD ProShares Ultra QQQ	0.13%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%
VINAX Vanguard Industrials Index Fund Admiral Shares	0.85%	1.01%	1.23%	1.36%	1.51%	1.06%	1.39%	1.68%	1.90%	1.60%	1.82%	1.94%

Frequently Asked Questions

Can I hold both VINAX and QLD in my portfolio?

VINAX and QLD have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VINAX or QLD?

QLD has higher volatility (18.22%) compared to VINAX (6.15%). In terms of maximum drawdown, VINAX dropped -63.43% vs QLD's -83.13%.

Which has better risk-adjusted returns?

VINAX currently has the higher Sharpe Ratio (1.92 vs 1.88), 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.