YXI vs. TQQQ
YXI (ProShares Short FTSE China 50) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - YXI is a Inverse Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, YXI returned -8.18%/yr vs 44.95%/yr for TQQQ. At a correlation of -0.51, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
YXI vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, YXI achieves a 7.60% return, which is significantly lower than TQQQ's 61.91% return. Over the past 10 years, YXI has underperformed TQQQ with an annualized return of -8.18%, while TQQQ has yielded a comparatively higher 44.95% annualized return.
YXI
- 1D
- -0.56%
- 1M
- 2.15%
- YTD
- 7.60%
- 6M
- 9.50%
- 1Y
- 1.04%
- 3Y*
- -11.86%
- 5Y*
- -2.76%
- 10Y*
- -8.18%
TQQQ
- 1D
- -1.55%
- 1M
- 26.46%
- YTD
- 61.91%
- 6M
- 54.01%
- 1Y
- 132.34%
- 3Y*
- 68.49%
- 5Y*
- 27.97%
- 10Y*
- 44.95%
YXI vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YXI ProShares Short FTSE China 50 | 7.60% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
TQQQ ProShares UltraPro QQQ | 61.91% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between YXI and TQQQ is -0.43, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2010 | -0.51 |
The correlation between YXI and TQQQ shifts across timeframes, from -0.51 (all time) to -0.35 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
YXI vs. TQQQ — Risk / Return Rank
YXI
TQQQ
YXI vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short FTSE China 50 (YXI) 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.
| YXI | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.39 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | 3.60 | -3.53 |
| Martin ratioReturn relative to average drawdown | 0.13 | 11.77 | -11.64 |
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
| YXI | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 2.80 | -2.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | 0.42 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.30 | 0.68 | -0.98 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.30 | 0.74 | -1.04 |
Drawdowns
YXI vs. TQQQ - Drawdown Comparison
The maximum YXI drawdown since its inception was -81.15%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for YXI and TQQQ.
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Drawdown Indicators
| YXI | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.15% | -81.66% | +0.51% |
Max Drawdown (1Y)Largest decline over 1 year | -14.21% | -36.97% | +22.76% |
Max Drawdown (3Y)Largest decline over 3 years | -53.12% | -58.04% | +4.92% |
Max Drawdown (5Y)Largest decline over 5 years | -57.65% | -81.66% | +24.01% |
Max Drawdown (10Y)Largest decline over 10 years | -64.92% | -81.66% | +16.74% |
Current DrawdownCurrent decline from peak | -78.03% | -2.29% | -75.74% |
Average DrawdownAverage peak-to-trough decline | -54.31% | -18.52% | -35.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.79% | 11.28% | -3.49% |
Volatility
YXI vs. TQQQ - Volatility Comparison
The current volatility for ProShares Short FTSE China 50 (YXI) is 7.25%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.35%. This indicates that YXI experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YXI | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.25% | 13.35% | -6.10% |
Volatility (6M)Calculated over the trailing 6-month period | 14.87% | 36.04% | -21.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.93% | 47.60% | -27.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.39% | 66.50% | -35.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.42% | 65.95% | -38.53% |
YXI vs. TQQQ - Expense Ratio Comparison
Both YXI and TQQQ have an expense ratio of 0.95%.
Dividends
YXI vs. TQQQ - Dividend Comparison
YXI's dividend yield for the trailing twelve months is around 2.85%, more than TQQQ's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TQQQ ProShares UltraPro QQQ | 0.37% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
YXI ProShares Short FTSE China 50 | 2.85% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
YXI and TQQQ have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (13.35%) compared to YXI (7.25%). In terms of maximum drawdown, YXI dropped -81.15% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 44.95% vs -8.18% for YXI. Both ETFs have the same 0.95% expense ratio. On volatility, YXI has been the lower-risk option at 7.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 44.95% return vs -8.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YXI and TQQQ have the same expense ratio: 0.95% per year.
YXI has the higher dividend yield at 2.85%, compared with 0.37% for TQQQ.
YXI is categorized as Inverse Equities, while TQQQ is Leveraged Equities. YXI tracks FTSE China 50 Net Tax USD (TR) (-100%), while TQQQ tracks NASDAQ-100 Index (300%).
TQQQ currently has the higher Sharpe Ratio (2.80 vs 0.05), 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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