QQDN vs SPY
ProShares UltraShort QQQ Mega vs State Street SPDR S&P 500 ETF Trust
Which is better, QQDN or SPY?
Opposite sides of the same exposure.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two move opposite each other, correlation -0.83, so holding both offsets the exposure while paying both fees.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | QQDN | SPY |
|---|---|---|
| Expense Ratio | 0.95% | 0.09%Best |
| AUM | $1M | $804.7B |
| Dividend Yield | 6.02% | 0.98% |
| Holdings | 3 | 505 |
| YTD Return | -20.29% | +12.09%Best |
| 1Y Return | -23.68% | +16.29%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 41.2% | 12.0%Best |
| Max Drawdown | -50.2% | -8.9%Best |
| $10,000 over 1.3 years | $5,229 | $12,874Best |
| Fund Family | ProShares | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Leveraged Equity | Large Cap Blend |
| Inception | Jun 10, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jun 12, 2025 to Sep 18, 2026 (1.3 years).
QQDN vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.3 years both funds cover.
QQDN vs SPY Performance
ProShares UltraShort QQQ Mega (QQDN) is an ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year QQDN returned -23.68% while SPY returned +16.29%. Year to date, QQDN is down 20.29% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQDN has been the more volatile fund, with annualized monthly volatility of 41.2% compared with 12.0% 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 -8.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.83. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
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 6.02% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of QQDN and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $86 a year on a $10,000 investment.
Which performed better, QQDN or SPY?
Over the past year QQDN returned -23.68% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), QQDN annualized -39.27% vs +21.45% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQDN or SPY?
QQDN has been the more volatile fund at 41.2% annualized versus 12.0% for SPY. Worst drawdown: QQDN -50.2% vs SPY -8.9%.
Should I hold both QQDN and SPY?
QQDN and SPY have a monthly-return correlation of -0.83, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
Which pays a higher dividend, QQDN or SPY?
QQDN yields 6.02% while SPY yields 0.98%, so QQDN currently pays the higher dividend yield.
Is SPY better than QQDN?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two move opposite each other, correlation -0.83, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.