EUO vs QQQ
ProShares UltraShort Euro vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | EUO | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.98% | 0.18% | |
| AUM | $33M | $496.3B | |
| Dividend Yield | 0.00% | 0.44% | |
| Holdings | 4 | 108 | |
| YTD Return | +3.67% | +16.64% | |
| 1Y Return | +3.63% | +27.27% | |
| 3Y Return (annualized) | -0.10% | +25.96% | |
| 5Y Return (annualized) | +4.03% | +14.54% | |
| Volatility (annualized) | 17.9% | 30.6% | |
| Max Drawdown | -38.6% | -83.0% | |
| Fund Family | ProShares | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 24, 2008 | Mar 10, 1999 |
EUO vs QQQ Performance
ProShares UltraShort Euro (EUO) is a ETF from ProShares and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year EUO returned +3.63% while QQQ returned +27.27%. Year to date, EUO is up 3.67% versus a gain of 16.64% for QQQ.
Over three years, EUO compounded at -0.10% per year against +25.96% for QQQ; over five years the annualized figures are +4.03% and +14.54% respectively. Across the full 18-year window we track, QQQ has the edge at +13.03% annualized vs +1.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 17.9% for EUO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -38.6% for EUO and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.33. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EUO charges 0.98% per year while QQQ charges 0.18%. On a $10,000 position that is $98 vs $18 annually, a gap of $80 per year that compounds over a long holding period. On income, EUO currently yields 0.00% against 0.44% for QQQ.
Holdings Overlap
EUO and QQQ share 0 holdings out of 103 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EUO or QQQ?
EUO has an expense ratio of 0.98% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $80 per year of difference.
Which performed better, EUO or QQQ?
Over the past year EUO returned +3.63% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (18 years), EUO annualized +1.01% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, EUO or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 17.9% for EUO. Worst drawdown: EUO -38.6% vs QQQ -83.0%.
Should I hold both EUO and QQQ?
EUO and QQQ have a monthly-return correlation of -0.33, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EUO and QQQ?
EUO and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, EUO or QQQ?
EUO yields 0.00% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
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