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 -12.68% vs -61.11% 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 -7.17% return, which is significantly higher than SQQQ's -40.31% return.
YQQQ
- 1D
- 2.19%
- 1M
- -0.90%
- YTD
- -7.17%
- 6M
- -6.10%
- 1Y
- -12.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ
- 1D
- 9.83%
- 1M
- -2.27%
- YTD
- -40.31%
- 6M
- -37.80%
- 1Y
- -61.11%
- 3Y*
- -53.86%
- 5Y*
- -46.89%
- 10Y*
- -56.24%
YQQQ vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
YQQQ YieldMax Short N100 Option Income Strategy ETF | -7.17% | -9.97% | -5.17% |
SQQQ ProShares UltraPro Short QQQ | -40.31% | -53.05% | -26.93% |
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 15, 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.
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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.78 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | -0.96 | +0.38 |
| Martin ratioReturn relative to average drawdown | -1.45 | -1.81 | +0.36 |
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Drawdowns
YQQQ vs. SQQQ - Drawdown Comparison
The maximum YQQQ drawdown since its inception was -29.10%, 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 | -29.10% | -100.00% | +70.90% |
Max Drawdown (1Y)Largest decline over 1 year | -21.80% | -63.52% | +41.72% |
Max Drawdown (3Y)Largest decline over 3 years | — | -92.51% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.27% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.98% | — |
Current DrawdownCurrent decline from peak | -26.77% | -100.00% | +73.23% |
Average DrawdownAverage peak-to-trough decline | -14.57% | -92.73% | +78.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.10% | 36.37% | -27.27% |
Volatility
YQQQ vs. SQQQ - Volatility Comparison
The current volatility for YieldMax Short N100 Option Income Strategy ETF (YQQQ) is 6.12%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. 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 | 6.12% | 26.69% | -20.57% |
Volatility (6M)Calculated over the trailing 6-month period | 11.21% | 43.33% | -32.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.66% | 53.65% | -39.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.59% | 67.53% | -50.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 66.47% | -49.88% |
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 30.11%, more than SQQQ's 11.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SQQQ ProShares UltraPro Short QQQ | 11.44% | 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 | 30.11% | 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 (26.69%) compared to YQQQ (6.12%). In terms of maximum drawdown, YQQQ dropped -29.10% vs SQQQ's -100.00%.
On 1-year performance, YQQQ leads with -12.68% vs -61.11% for SQQQ. On fees, SQQQ is cheaper at 0.95% per year. On volatility, YQQQ has been the lower-risk option at 6.12%. 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 -12.68% return vs -61.11%. 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 30.11%, compared with 11.44% 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 (-0.94 vs -1.14), 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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