YQQQ vs. SQQQ
YQQQ (YieldMax Short N100 Option Income Strategy ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - YQQQ is a Derivative Income fund actively managed by YieldMax, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). YQQQ is actively managed, while SQQQ is passively managed. Over the past year, YQQQ returned -14.25% vs -65.16% for SQQQ. Their correlation of 0.95 suggests significant overlap in exposure. YQQQ charges 0.99%/yr vs 0.95%/yr for SQQQ.
Performance
YQQQ vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, YQQQ achieves a -8.94% return, which is significantly higher than SQQQ's -45.27% return.
YQQQ
- 1D
- 0.06%
- 1M
- -7.64%
- YTD
- -8.94%
- 6M
- -6.62%
- 1Y
- -14.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ
- 1D
- 0.76%
- 1M
- -26.37%
- YTD
- -45.27%
- 6M
- -42.79%
- 1Y
- -65.16%
- 3Y*
- -56.19%
- 5Y*
- -49.17%
- 10Y*
- -56.01%
YQQQ vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
YQQQ YieldMax Short N100 Option Income Strategy ETF | -8.94% | -9.97% | -4.06% |
SQQQ ProShares UltraPro Short QQQ | -45.27% | -53.05% | -21.00% |
Correlation
The correlation between YQQQ and SQQQ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2024 | 0.95 |
The correlation between YQQQ and SQQQ 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. SQQQ — Risk / Return Rank
YQQQ
SQQQ
YQQQ vs. SQQQ - 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 UltraPro Short QQQ (SQQQ). 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.
| YQQQ | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.72 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | -0.99 | +0.30 |
| Martin ratioReturn relative to average drawdown | -1.68 | -1.82 | +0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| YQQQ | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.14 | -1.37 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.74 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.77 | -0.88 | +0.10 |
Drawdowns
YQQQ vs. SQQQ - Drawdown Comparison
The maximum YQQQ drawdown since its inception was -28.21%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for YQQQ and SQQQ.
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Drawdown Indicators
| YQQQ | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.21% | -100.00% | +71.79% |
Max Drawdown (1Y)Largest decline over 1 year | -20.82% | -65.95% | +45.13% |
Max Drawdown (3Y)Largest decline over 3 years | — | -92.38% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.98% | — |
Current DrawdownCurrent decline from peak | -28.17% | -100.00% | +71.83% |
Average DrawdownAverage peak-to-trough decline | -14.22% | -92.40% | +78.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.52% | 35.73% | -27.21% |
Volatility
YQQQ vs. SQQQ - Volatility Comparison
The current volatility for YieldMax Short N100 Option Income Strategy ETF (YQQQ) is 3.90%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.75%. This indicates that YQQQ experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YQQQ | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 13.75% | -9.85% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 36.45% | -26.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.51% | 47.79% | -35.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.26% | 66.64% | -50.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.26% | 66.11% | -49.85% |
YQQQ vs. SQQQ - Expense Ratio Comparison
YQQQ has a 0.99% expense ratio, which is higher than SQQQ's 0.95% expense ratio.
Dividends
YQQQ vs. SQQQ - Dividend Comparison
YQQQ's dividend yield for the trailing twelve months is around 31.75%, more than SQQQ's 12.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 12.48% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | 31.75% | 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 SQQQ 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.
SQQQ has higher volatility (13.75%) compared to YQQQ (3.90%). In terms of maximum drawdown, YQQQ dropped -28.21% vs SQQQ's -100.00%.
On 1-year performance, YQQQ leads with -14.25% vs -65.16% for SQQQ. On fees, SQQQ is cheaper at 0.95% per year. On volatility, YQQQ has been the lower-risk option at 3.90%. 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 -14.25% return vs -65.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SQQQ is cheaper with a 0.95% expense ratio, compared with 0.99% for YQQQ.
YQQQ has the higher dividend yield at 31.75%, compared with 12.48% for SQQQ.
YQQQ is categorized as Derivative Income, while SQQQ is Leveraged Equities. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 0.99% for YQQQ and 0.95% for SQQQ.
YQQQ currently has the higher Sharpe Ratio (-1.14 vs -1.37), 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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