YQQQ vs. PSQ
YQQQ (YieldMax Short N100 Option Income Strategy ETF) and PSQ (ProShares Short QQQ) are both exchange-traded funds - YQQQ is a Derivative Income fund actively managed by YieldMax, while PSQ is a Inverse Equities fund tracking the NASDAQ-100 Index (-100%). YQQQ is actively managed, while PSQ is passively managed. Over the past year, YQQQ returned -5.69% vs -17.36% for PSQ. Their 0.95 correlation means they have historically moved very closely together. YQQQ charges 0.99%/yr vs 0.95%/yr for PSQ.
Performance
YQQQ vs. PSQ - Performance Comparison
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Returns By Period
In the year-to-date period, YQQQ achieves a -2.27% return, which is significantly higher than PSQ's -9.94% return.
YQQQ
- 1D
- -0.25%
- 1M
- 3.85%
- 6M
- -3.32%
- YTD
- -2.27%
- 1Y
- -5.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -8.84%
PSQ
- 1D
- -0.59%
- 1M
- 3.63%
- 6M
- -9.19%
- YTD
- -9.94%
- 1Y
- -17.36%
- 3Y*
- -15.05%
- 5Y*
- -11.74%
- 10Y*
- -18.20%
- ALL TIME*
- -16.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $270.27M | $217.80M | $219.49M | |
| $672.47K | $456.85K | $596.52K |
YQQQ vs. PSQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
YQQQ YieldMax Short N100 Option Income Strategy ETF | -2.27% | -9.97% | -5.17% |
PSQ ProShares Short QQQ | -9.94% | -15.51% | -7.84% |
Correlation
The correlation between YQQQ and PSQ is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2024 | 0.95 |
The correlation between YQQQ and PSQ has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
YQQQ vs. PSQ — Risk / Return Rank
YQQQ
PSQ
YQQQ vs. PSQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Short N100 Option Income Strategy ETF (YQQQ) and ProShares Short QQQ (PSQ). 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.
| YQQQ | PSQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.88 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | -0.63 | +0.43 |
| Martin ratioReturn relative to average drawdown | -0.44 | -1.23 | +0.79 |
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Drawdowns
YQQQ vs. PSQ - Drawdown Comparison
The maximum YQQQ drawdown since its inception was -29.10%, smaller than the maximum PSQ drawdown of -98.26%. Use the drawdown chart below to compare losses from any high point for YQQQ and PSQ.
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Drawdown Indicators
| YQQQ | PSQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.10% | -98.26% | +69.16% |
Max Drawdown (1Y)Largest decline over 1 year | -21.80% | -24.83% | +3.03% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.65% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -60.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -87.66% | — |
Current DrawdownCurrent decline from peak | -22.91% | -98.12% | +75.21% |
Average DrawdownAverage peak-to-trough decline | -15.15% | -74.15% | +59.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.05% | 12.73% | -2.68% |
Volatility
YQQQ vs. PSQ - Volatility Comparison
The current volatility for YieldMax Short N100 Option Income Strategy ETF (YQQQ) is 4.48%, while ProShares Short QQQ (PSQ) has a volatility of 6.96%. This indicates that YQQQ experiences smaller price fluctuations and is considered to be less risky than PSQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YQQQ | PSQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 6.96% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 11.99% | 16.03% | -4.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.30% | 19.38% | -5.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.54% | 22.93% | -6.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 22.46% | -5.92% |
YQQQ vs. PSQ - Expense Ratio Comparison
YQQQ has a 0.99% expense ratio, which is higher than PSQ's 0.95% expense ratio.
Dividends
YQQQ vs. PSQ - Dividend Comparison
YQQQ's dividend yield for the trailing twelve months is around 28.92%, more than PSQ's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 4.26% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | 28.92% | 31.71% | 7.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, YQQQ and PSQ 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.
PSQ has higher volatility (6.96%) compared to YQQQ (4.48%). In terms of maximum drawdown, YQQQ dropped -29.10% vs PSQ's -98.26%.
On 1-year performance, YQQQ leads with -5.69% vs -17.36% for PSQ. On fees, PSQ is cheaper at 0.95% per year. On volatility, YQQQ has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, YQQQ has performed better with a -5.69% return vs -17.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSQ is cheaper with a 0.95% expense ratio, compared with 0.99% for YQQQ.
YQQQ has the higher dividend yield at 28.92%, compared with 4.26% for PSQ.
YQQQ is categorized as Derivative Income, while PSQ is Inverse Equities. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 0.99% for YQQQ and 0.95% for PSQ.
YQQQ currently has the higher Sharpe Ratio (-0.31 vs -0.81), 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.
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