WAR vs. TQQQ

Last updated Jun 24, 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 0.86 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: -4.72%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -9.86%
• 1M: -4.37%
• YTD: 41.43%
• 6M: 35.75%
• 1Y: 100.69%
• 3Y*: 58.02%
• 5Y*: 21.47%
• 10Y*: 45.48%

*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	-4.38%
TQQQ ProShares UltraPro QQQ	-4.37%

Correlation

The correlation between WAR and TQQQ is 0.86, 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	0.86

WAR vs. TQQQ - Sectors Allocation Comparison

Sectors	WAR	TQQQ
Technology	55.6%	53.8%
Industrials	39.8%	2.8%
Financial Services	2.7%	0.2%
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%
Communication Services	-5.0%	15.8%

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: 53
TQQQ Sharpe Ratio Rank: 58
TQQQ Sortino Ratio Rank: 47
TQQQ Omega Ratio Rank: 49
TQQQ Calmar Ratio Rank: 57
TQQQ Martin Ratio Rank: 52

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	—	1.90	—
Sortino ratio: Return per unit of downside risk	—	2.27	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.74	—
Martin ratio: Return relative to average drawdown	—	8.72	—

Drawdowns

WAR vs. TQQQ - Drawdown Comparison

The maximum WAR drawdown since its inception was -13.13%, 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	-13.13%	-81.66%	+68.53%
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	-10.38%	-14.65%	+4.27%
Average Drawdown Average peak-to-trough decline	-5.48%	-18.49%	+13.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.59%	—

Volatility

Volatility by Period

	WAR	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	27.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	43.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	52.90%	53.39%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.90%	67.41%	-14.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.90%	66.32%	-13.42%

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 0.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQQQ ProShares UltraPro QQQ	0.42%	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?

WAR and TQQQ have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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 0.42%, 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.