Compare/Updated Oct 26, 2026, refreshed every trading day
TQQQ vs SQQQ
ProShares UltraPro QQQ against ProShares - UltraPro Short QQQ: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
TQQQ did substantially better over the 1,000-trading-day period from Oct 28, 2022 to Oct 23, 2026. A $1,000 investment in TQQQ grew to $6,583, a 558.3% gain, while the same investment in SQQQ fell to $40, a 96.0% loss. TQQQ also led over three years, gaining 277.7% versus SQQQ’s 90.1% loss, despite nearly identical volatility: 59.4% for TQQQ and 59.7% for SQQQ. The result reflects the sustained upward performance of the Nasdaq-100 during the period and the damaging effects of daily leveraged inverse exposure and compounding on SQQQ. Risk remained extreme: TQQQ’s worst drawdown was 58.0%, while SQQQ’s was 97.4%. TQQQ’s lower expense ratio was 0.97% versus 0.99% for SQQQ, but both are highly volatile, tactical products rather than conventional long-term holdings.
- Price is above its 200-day average ($65); 50-day at $74.
- RSI 35, neutral. Supertrend says sell. ADX 25, so the trend is developing.
- Price is below its 200-day average ($49); 50-day at $37.
- RSI 63, neutral. Supertrend says buy. ADX 24, so the trend is developing.
Head to head
Which has returned more, TQQQ or SQQQ?
TQQQ beat SQQQ in 31 of the last 48 months; SQQQ won the other 17. The typical monthly gap was 24.88 points.
Total return by period
Which is riskier?
TQQQ: Dec 16, 2024 to Apr 8, 2025; SQQQ: Nov 3, 2022 to Oct 6, 2026
- -1.000
- correlation of daily moves, 4 years
- -1.00
- TQQQ move per 1% in SQQQ
- -1.000
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 24.88 points.
When did they diverge?
| Month | TQQQ | SQQQ | Gap |
|---|---|---|---|
| April 2026 | +52.5% | -35.8% | +88.30 pts |
| November 2023 | +33.9% | -26.2% | +60.04 pts |
| January 2023 | +32.5% | -27.1% | +59.59 pts |
| May 2026 | +33.1% | -26.3% | +59.35 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
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