VVIAX vs. TQQQ

Last updated Jun 13, 2026

VVIAX (Vanguard Value Index Fund Admiral Shares) and TQQQ (ProShares UltraPro QQQ) are both funds - VVIAX is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, VVIAX returned 12.64%/yr vs 44.55%/yr for TQQQ. A 0.69 correlation means they provide meaningful diversification when combined. VVIAX charges 0.05%/yr vs 0.95%/yr for TQQQ.

Performance

VVIAX vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value Index Fund Admiral Shares (VVIAX) 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, VVIAX achieves a 13.25% return, which is significantly lower than TQQQ's 47.28% return. Over the past 10 years, VVIAX has underperformed TQQQ with an annualized return of 12.64%, while TQQQ has yielded a comparatively higher 44.55% annualized return.

VVIAX

• 1D: 1.71%
• 1M: 2.93%
• YTD: 13.25%
• 6M: 12.95%
• 1Y: 26.73%
• 3Y*: 18.06%
• 5Y*: 11.55%
• 10Y*: 12.64%

TQQQ

• 1D: 1.99%
• 1M: -1.81%
• YTD: 47.28%
• 6M: 47.23%
• 1Y: 114.36%
• 3Y*: 59.79%
• 5Y*: 24.34%
• 10Y*: 44.55%

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

VVIAX vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VVIAX Vanguard Value Index Fund Admiral Shares	13.25%	15.27%	16.00%	9.22%	-2.07%	26.51%	2.29%	25.81%	-5.45%	17.13%
TQQQ ProShares UltraPro QQQ	47.28%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between VVIAX and TQQQ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.69

Over the past year, the correlation between VVIAX and TQQQ has dropped to 0.48 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

VVIAX vs. TQQQ - Sectors Allocation Comparison

Sectors	VVIAX	TQQQ
Financial Services	22.3%	0.2%
Healthcare	14.5%	4.2%
Industrials	14.0%	2.8%
Technology	13.4%	53.8%
Consumer Defensive	9.4%	7.7%
Energy	8.1%	0.6%
Utilities	5.2%	1.4%
Consumer Cyclical	4.0%	12.3%
Communication Services	3.3%	15.8%
Basic Materials	3.1%	1.1%
Real Estate	2.8%	0.1%

Return for Risk

VVIAX vs. TQQQ — Risk / Return Rank

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

VVIAX

VVIAX Risk / Return Rank: 89
VVIAX Sharpe Ratio Rank: 90
VVIAX Sortino Ratio Rank: 87
VVIAX Omega Ratio Rank: 83
VVIAX Calmar Ratio Rank: 92
VVIAX Martin Ratio Rank: 92

TQQQ

TQQQ Risk / Return Rank: 64
TQQQ Sharpe Ratio Rank: 75
TQQQ Sortino Ratio Rank: 59
TQQQ Omega Ratio Rank: 62
TQQQ Calmar Ratio Rank: 66
TQQQ Martin Ratio Rank: 59

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.

VVIAX vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value Index Fund Admiral Shares (VVIAX) 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.

	VVIAX	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.09	+0.48
Sortino ratio: Return per unit of downside risk	3.65	2.42	+1.23
Omega ratio: Gain probability vs. loss probability	1.46	1.32	+0.13
Calmar ratio: Return relative to maximum drawdown	4.18	2.89	+1.28
Martin ratio: Return relative to average drawdown	15.68	9.26	+6.42

VVIAX vs. TQQQ - Sharpe Ratio Comparison

The current VVIAX Sharpe Ratio is 2.57, which is comparable to the TQQQ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of VVIAX 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

VVIAX vs. TQQQ - Drawdown Comparison

The maximum VVIAX drawdown since its inception was -59.32%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for VVIAX and TQQQ.

Drawdown Indicators

	VVIAX	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-59.32%	-81.66%	+22.34%
Max Drawdown (1Y) Largest decline over 1 year	-6.36%	-36.97%	+30.61%
Max Drawdown (3Y) Largest decline over 3 years	-14.39%	-58.04%	+43.65%
Max Drawdown (5Y) Largest decline over 5 years	-17.14%	-81.66%	+64.52%
Max Drawdown (10Y) Largest decline over 10 years	-36.80%	-81.66%	+44.86%
Current Drawdown Current decline from peak	0.00%	-11.12%	+11.12%
Average Drawdown Average peak-to-trough decline	-9.61%	-18.51%	+8.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	11.52%	-9.83%

Volatility

VVIAX vs. TQQQ - Volatility Comparison

The current volatility for Vanguard Value Index Fund Admiral Shares (VVIAX) is 3.32%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 22.79%. This indicates that VVIAX 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

	VVIAX	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	22.79%	-19.47%
Volatility (6M) Calculated over the trailing 6-month period	7.96%	41.26%	-33.30%
Volatility (1Y) Calculated over the trailing 1-year period	10.35%	51.24%	-40.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.96%	67.02%	-53.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	66.22%	-49.47%

VVIAX vs. TQQQ - Expense Ratio Comparison

VVIAX has a 0.05% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

VVIAX vs. TQQQ - Dividend Comparison

VVIAX's dividend yield for the trailing twelve months is around 1.84%, more than TQQQ's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.41%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
VVIAX Vanguard Value Index Fund Admiral Shares	1.84%	2.04%	2.30%	2.45%	2.51%	2.14%	2.55%	2.49%	2.72%	2.29%	2.45%	2.60%

Frequently Asked Questions

Can I hold both VVIAX and TQQQ in my portfolio?

VVIAX and TQQQ 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 is riskier, VVIAX or TQQQ?

TQQQ has higher volatility (22.79%) compared to VVIAX (3.32%). In terms of maximum drawdown, VVIAX dropped -59.32% vs TQQQ's -81.66%.

Which has better risk-adjusted returns?

VVIAX currently has the higher Sharpe Ratio (2.57 vs 2.09), 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.