QQDN vs SPY
ProShares UltraShort QQQ Mega vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | QQDN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.09% | |
| AUM | $1M | $789.1B | |
| Dividend Yield | 5.20% | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | -18.65% | +13.68% | |
| 1Y Return | -28.24% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 42.7% | 15.3% | |
| Max Drawdown | -50.2% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jun 10, 2025 | Jan 22, 1993 |
QQDN vs SPY Performance
ProShares UltraShort QQQ Mega (QQDN) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QQDN returned -28.24% while SPY returned +21.53%. Year to date, QQDN is down 18.65% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
QQDN has been the more volatile fund, with annualized monthly volatility of 42.7% compared with 15.3% for SPY. 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 -50.2% for QQDN and -56.5% for SPY. 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 -0.83. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQDN charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, QQDN currently yields 5.20% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, QQDN or SPY?
QQDN has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, QQDN or SPY?
Over the past year QQDN returned -28.24% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), QQDN annualized -40.81% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, QQDN or SPY?
QQDN has been the more volatile fund at 42.7% annualized versus 15.3% for SPY. Worst drawdown: QQDN -50.2% vs SPY -56.5%.
Should I hold both QQDN and SPY?
QQDN and SPY have a monthly-return correlation of -0.83, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, QQDN or SPY?
QQDN yields 5.20% while SPY yields 1.01%, so QQDN currently pays the higher dividend yield.
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