ETF Comparison

SQQQ vs TQQQ: Which Is the Better Pick in 2026?

A head-to-head comparison of ProShares UltraPro Short QQQ and ProShares UltraPro QQQ covering yield, cost, risk, and income potential.

Data updated September 21, 2026

Best for

SQQQInvestors who want higher current income (7.38% vs 0.87% for TQQQ).
TQQQInvestors who want broad equity exposure.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.

SQQQ has lagged TQQQ over the trailing twelve months, posting a -51.83% total return against 51.69%. The lead holds up over 10 years too: TQQQ has compounded at 41.53% a year, against -55.21% for SQQQ. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD	1Y	3Y	5Y	10Y	Since Feb 2010	Volatility	Sharpe	Sortino	Max drawdown
SQQQ	-48.62%	-51.83%	-56.59%	-46.74%	-55.21%	-46.12%	62.5%	-1.42	-1.83	-92.7%
TQQQ	51.33%	51.69%	65.94%	19.92%	41.53%	43.09%	60.6%	0.77	1.07	-58.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 21, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Feb 2010” measures every fund from February 11, 2010 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	SQQQ	TQQQ
Full name	ProShares UltraPro Short QQQ	ProShares UltraPro QQQ
Issuer	ProShares	ProShares
Last Close	$34.60 as of September 21, 2026	$78.91 as of September 21, 2026
Distribution rate	7.38%	0.87%
Distribution Safety Score™	—	56
Safety-Adjusted Yield	—	0.49%
Expense ratio	0.95%	0.82%
AUM	$2.11B	$34.1B
Distribution frequency	Quarterly	Quarterly
Underlying index	Nasdaq-100	Nasdaq-100 Index
Objective	Seeks daily investment results that correspond to three times the inverse (-3x) of the daily performance of the Nasdaq-100 Index.	Seek daily investment results, before fees, that correspond to three times the daily performance of the Nasdaq-100 Index.
Asset class	Equity	Equity
Inception date	02/09/2010	02/09/2010
Beta	-3.28	4.04
Last dividend	$0.638	$0.171
Ex-dividend date	06/24/2026	06/24/2026

Bottom lineChoose SQQQ if you want higher current income (7.38% vs 0.87% for TQQQ). Choose TQQQ if you want broad equity exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

Daily leverage reset. SQQQ and TQQQ target a multiple of the index's DAILY move, resetting every session. Over weeks and months the compounding of daily resets (volatility decay) can drag returns far below the stated multiple, especially in choppy markets — and losses are magnified the same way gains are.

Learn the mechanics: Why daily-reset leverage decays

Model this comparison:

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

ProShares

ETFs170

Total AUM$124B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

ProShares is known for offering leveraged and inverse ETFs that provide amplified exposure to market movements, along with thematic and income-focused strategies. Their fund lineup spans digital assets (including Bitcoin and Ethereum exposure through BITO and EETH), dividend strategies like the Dividend Aristocrats fund (NOBL), covered call income strategies, and leveraged/inverse products that track major indices with 2x or 3x daily multipliers (such as SSO and TQQQ for tech-heavy portfolios). With 23 ETFs across specialized families including leveraged products, money market funds, and sector-specific offerings, ProShares serves investors seeking both traditional income and alternative exposure strategies.

See our curated list of related YouTube videos on SQQQ and TQQQ.

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Quick verdict

SQQQ (ProShares UltraPro Short QQQ) and TQQQ (ProShares UltraPro QQQ) are both quarterly-pay dividend ETFs, but they take different approaches.

SQQQ offers the higher yield at 7.38% vs 0.87% for TQQQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

TQQQ is cheaper with an expense ratio of 0.82% compared to 0.95%.

They have different reference exposures: SQQQ is linked to Nasdaq-100 while TQQQ is linked to Nasdaq-100 Index, which means their performance drivers differ.

TQQQ is the larger fund by assets ($34.1B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose SQQQ

ProShares UltraPro Short QQQ

Want higher current income — SQQQ yields 7.38% vs 0.87% for TQQQ.
Want broad equity exposure.
Prefer lower volatility — a beta of -3.3 vs 4.0 for TQQQ.

Choose TQQQ

ProShares UltraPro QQQ

Want broad equity exposure.
Want to keep costs low — a 0.82% expense ratio vs 0.95% for SQQQ.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

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Deep dive

Yield & income

On a $10,000 investment, SQQQ would generate roughly $61.50/month, while TQQQ would produce $7.25/month, at current distribution rates. Both pay quarterly distributions.

SQQQ yield7.38%

TQQQ yield0.87%

Monthly diff on $10K$54.25

Cost & efficiency

Over 10 years on $10,000, SQQQ would cost approximately $950 in fees vs $820 for TQQQ (simplified, not compounded). The $130.00 difference may be offset by yield or performance.

SQQQ ER0.95%

TQQQ ER0.82%

Strategy & risk

SQQQ tracks Nasdaq-100 with a leverage approach, while TQQQ tracks Nasdaq-100 Index with a leverage approach. Beta is -3.28 for SQQQ and 4.04 for TQQQ, making SQQQ the less volatile of the two by this measure.

SQQQ beta-3.28

TQQQ beta4.04

Fund details

SQQQ is managed by ProShares (launched 02/09/2010) with $2.11B in assets. TQQQ is managed by ProShares (launched 02/09/2010) with $34.1B in assets.

SQQQ AUM$2.11B

TQQQ AUM$34.1B

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Frequently asked questions

What is the current distribution rate for SQQQ and TQQQ?

SQQQ currently distributes 7.38% and TQQQ 0.87%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SQQQ or TQQQ better for dividend income?

It depends on your goals. SQQQ currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between SQQQ and TQQQ?

SQQQ (ProShares UltraPro Short QQQ) tracks Nasdaq-100 with a leverage approach, while TQQQ (ProShares UltraPro QQQ) tracks Nasdaq-100 Index with a leverage approach. They are issued by ProShares and ProShares respectively.

Can I hold both SQQQ and TQQQ?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Which has lower fees, SQQQ or TQQQ?

SQQQ has an expense ratio of 0.95% while TQQQ charges 0.82%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in SQQQ vs TQQQ generate?

At current rates, $10,000 in SQQQ would generate roughly $61.50 per month ($738.00 annually). The same in TQQQ would produce about $7.25 per month ($87.00 annually).

Which has performed better historically, SQQQ or TQQQ?

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SQQQ vs TQQQ — at a glance

Generated September 19, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

They are directional opposites, not complements.

How they differ

TQQQ amplifies upside in growth and tech sectors through 3x leverage; SQQQ does the opposite, profiting from downturns via -3x inverse exposure. TQQQ's $34.1B in assets dwarfs SQQQ's $2.11B, reflecting investor preference for long leverage over short hedges. TQQQ's 0.87% yield reflects minimal cash holdings, while SQQQ's 7.38% yield comes partly from short-sale proceeds and opportunity costs of maintaining inverse exposure. TQQQ charges 0.82% in fees; SQQQ charges 0.95%, a modest difference that masks the far steeper drag from daily rebalancing in both funds during volatile or sideways markets.

Who each is best for

TQQQ: Investors with high risk tolerance and a near-term bullish outlook on tech and growth stocks who seek amplified capital appreciation over weeks to months, not buy-and-hold years.

SQQQ: Tactical traders or hedgers who hold bearish convictions on the Nasdaq-100 short-term or who seek a short-duration portfolio offset during periods of elevated equity risk.

Key risks to know

Daily rebalancing decay. Both funds reset leverage daily. In choppy or range-bound markets, this rebalancing compounds losses for TQQQ and for SQQQ. Neither fund is designed to track the Nasdaq-100's return over holding periods longer than one day; multi-month performance can materially lag or exceed the stated 3x or -3x multiple due to volatility drag.

Inverse correlation deterioration (SQQQ). A sustained rally in the Nasdaq-100 erodes SQQQ's NAV rapidly. Extended bull markets have historically reduced short-inverse funds to near-zero value; even a 40% climb in the index over two years can shrink the fund significantly. A severe tech selloff (20%+ correction) can trigger sustained double-digit percentage losses within days, with compounding losses in subsequent volatile rallies. Neither fund's yield should be viewed as a genuine income stream.

Bottom line

TQQQ and SQQQ occupy opposite tactical roles: one bets on tech strength with amplified gains and losses, the other bets on tech weakness with inverse leverage. Both incur daily rebalancing drag in sideways or volatile conditions and are unsuitable as long-term holdings. Past performance does not predict future results, and both funds' returns over periods longer than one day may diverge sharply from their stated multiples.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

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