QQQ vs SPXU
Invesco QQQ Trust, Series 1 vs ProShares UltraPro Short S&P500
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 | QQQ | SPXU | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.90% | |
| AUM | $496.3B | $365M | |
| Dividend Yield | 0.44% | 6.79% | |
| Holdings | 108 | 19 | |
| YTD Return | +16.64% | -28.61% | |
| 1Y Return | +27.27% | -41.82% | |
| 3Y Return (annualized) | +25.96% | -42.91% | |
| 5Y Return (annualized) | +14.54% | -32.94% | |
| Volatility (annualized) | 30.6% | 39.6% | |
| Max Drawdown | -83.0% | -100.0% | |
| Fund Family | Invesco (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Jun 23, 2009 |
QQQ vs SPXU Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and ProShares UltraPro Short S&P500 (SPXU) is a ETF from ProShares. Over the past year QQQ returned +27.27% while SPXU returned -41.82%. Year to date, QQQ is up 16.64% versus a loss of 28.61% for SPXU.
Over three years, QQQ compounded at +25.96% per year against -42.91% for SPXU; over five years the annualized figures are +14.54% and -32.94% respectively. Across the full 17-year window we track, QQQ has the edge at +13.03% annualized vs -42.59%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXU has been the more volatile fund, with annualized monthly volatility of 39.6% compared with 30.6% for QQQ. 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 -83.0% for QQQ and -100.0% for SPXU. 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 -0.90. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPXU charges 0.90%. On a $10,000 position that is $18 vs $90 annually, a gap of $72 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 6.79% for SPXU.
Holdings Overlap
QQQ and SPXU 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, QQQ or SPXU?
QQQ has an expense ratio of 0.18% while SPXU charges 0.90%. QQQ is the cheaper option. On a $10,000 investment, that is $72 per year of difference.
Which performed better, QQQ or SPXU?
Over the past year QQQ returned +27.27% vs -41.82% for SPXU, so QQQ leads on 1-year performance. Over the longest common window we track (17 years), QQQ annualized +13.03% vs -42.59% for SPXU. Past performance does not guarantee future results.
Which is riskier, QQQ or SPXU?
SPXU has been the more volatile fund at 39.6% annualized versus 30.6% for QQQ. Worst drawdown: QQQ -83.0% vs SPXU -100.0%.
Should I hold both QQQ and SPXU?
QQQ and SPXU have a monthly-return correlation of -0.90, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and SPXU?
QQQ and SPXU share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, QQQ or SPXU?
QQQ yields 0.44% while SPXU yields 6.79%, so SPXU currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.