WAR vs. TQQQ

Last updated Jul 14, 2026

WAR (U.S. Global Technology and Aerospace & Defense ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - WAR is a Aerospace & Defense fund actively managed by US Global, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). WAR is actively managed, while TQQQ is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. WAR charges 0.60%/yr vs 0.95%/yr for TQQQ.

Performance

WAR vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Technology and Aerospace & Defense ETF (WAR) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WAR

• 1D: -4.30%
• 1M: -7.86%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -5.70%
• 1M: -6.08%
• 6M: 30.48%
• YTD: 38.33%
• 1Y: 74.65%
• 3Y*: 50.58%
• 5Y*: 18.33%
• 10Y*: 42.27%

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

WAR vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)
WAR U.S. Global Technology and Aerospace & Defense ETF	-9.77%
TQQQ ProShares UltraPro QQQ	-6.47%

Correlation

The correlation between WAR and TQQQ is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.90

WAR vs. TQQQ - Sectors Allocation Comparison

Sectors	WAR	TQQQ
Technology	61.4%	53.8%
Industrials	36.5%	2.8%
Financial Services	2.7%	0.2%
Communication Services	2.2%	15.8%
Basic Materials	-	1.1%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Healthcare	-	4.2%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

WAR vs. TQQQ — Risk / Return Rank

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

WAR

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

TQQQ

TQQQ Risk / Return Rank: 48
TQQQ Sharpe Ratio Rank: 49
TQQQ Sortino Ratio Rank: 45
TQQQ Omega Ratio Rank: 46
TQQQ Calmar Ratio Rank: 51
TQQQ Martin Ratio Rank: 47

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.

WAR vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Technology and Aerospace & Defense ETF (WAR) 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.

	WAR	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.36	—
Sortino ratio: Return per unit of downside risk	—	1.85	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	2.03	—
Martin ratio: Return relative to average drawdown	—	6.23	—

Drawdowns

WAR vs. TQQQ - Drawdown Comparison

The maximum WAR drawdown since its inception was -15.43%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for WAR and TQQQ.

Drawdown Indicators

	WAR	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-15.43%	-81.66%	+66.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-36.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-58.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-15.43%	-16.52%	+1.09%
Average Drawdown Average peak-to-trough decline	-7.29%	-18.48%	+11.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.02%	—

Volatility

Volatility by Period

	WAR	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	25.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	45.80%	—
Volatility (1Y) Calculated over the trailing 1-year period	49.13%	55.32%	-6.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.13%	67.74%	-18.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.13%	66.40%	-17.27%

WAR vs. TQQQ - Expense Ratio Comparison

WAR has a 0.60% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

WAR vs. TQQQ - Dividend Comparison

WAR has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.52%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.52%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%
WAR U.S. Global Technology and Aerospace & Defense ETF	0.00%	0.00%	0.00%	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 WAR and TQQQ in my portfolio?

With a correlation of 0.90, WAR and TQQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, WAR or TQQQ?

On fees, WAR is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WAR or TQQQ?

WAR is cheaper with a 0.60% expense ratio, compared with 0.95% for TQQQ.

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

TQQQ has the higher dividend yield at 0.52%, compared with 0.00% for WAR.

What is the main difference between WAR and TQQQ?

WAR is categorized as Aerospace & Defense, while TQQQ is Leveraged Equities. They also come from different issuers: US Global and ProShares. Their fees differ too: 0.60% for WAR and 0.95% for TQQQ.