SQQQ vs SPY

Comparison between ProShares UltraPro Short QQQ -3x Shares (SQQQ, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed SQQQ, delivering a return of +13.3% compared to -48.1%

SQQQ vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SQQQ(ETF)	SPY(ETF)
Net Assets	$2.60B	$652B
Expense Ratio	N/A	0.09%
Max Drawdown	100.00%	56.47%
Sharpe Ratio	-2.24	2.07
5Y Beta	0.00	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	-29.59%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

SQQQ

$2.60B

Winner

SPY

$652B

Expense Ratio

SQQQ

N/A

SPY

0.09%

Max Drawdown

SQQQ

100.00%

Winner

SPY

56.47%

Sharpe Ratio

SQQQ

-2.24

Winner

SPY

2.07

5Y Beta

Winner

SQQQ

0.00

SPY

1.00

P/E Ratio

SQQQ

N/A

SPY

28.24

Forward P/E

SQQQ

N/A

SPY

21.85

5Y Dividends CAGR

SQQQ

-29.59%

Winner

SPY

5.43%

5Y EPS CAGR

SQQQ

N/A

SPY

25.79%

Debt to Equity

SQQQ

N/A

SPY

22.35%

P/S Ratio

SQQQ

N/A

SPY

3.55

P/B Ratio

SQQQ

N/A

SPY

5.29

SQQQ vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	SQQQ	SPY
1 month	-38.48%	+9.11%
3 months	-37.26%	+6.59%
6 months	-39.14%	+10.56%
1 year	-68.56%	+32.04%
5 years(CAGR)	-48.11%	+13.35%
10 years(CAGR)	-55.99%	+15.49%
Max(CAGR)	-53.18%	+8.50%

SQQQ

-38.48%

Winner

SPY

+9.11%

SQQQ

-37.26%

Winner

SPY

+6.59%

SQQQ

-39.14%

Winner

SPY

+10.56%

SQQQ

-68.56%

Winner

SPY

+32.04%

5Y(CAGR)

SQQQ

-48.11%

Winner

SPY

+13.35%

10Y(CAGR)

SQQQ

-55.99%

Winner

SPY

+15.49%

Max(CAGR)

SQQQ

-53.18%

Winner

SPY

+8.50%

SQQQ vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	SQQQ	SPY
2026	-37.77%	+8.27%
2025	-53.38%	+18.00%
2024	-52.16%	+25.59%
2023	-74.21%	+26.72%
2022	+88.72%	-18.64%
2021	-62.50%	+30.52%
2020	-85.71%	+17.28%
2019	-65.39%	+31.09%
2018	-16.47%	-5.24%
2017	-57.63%	+20.78%
2016	-34.26%	+13.59%
2015	-37.90%	+1.31%
2014	-49.18%	+14.56%
2013	-60.89%	+29.00%
2012	-45.47%	+14.17%
2011	-33.84%	+0.85%
2010	-59.50%	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

SQQQ vs SPY Drawdown Comparison

The maximum drawdown for SQQQ was -100.00%, occurring on May 8, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current SQQQ drawdown is -100.00%.

Rank	SQQQ	SPY
#1	-100.00% Feb 11, 2010 - May 8, 2026	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	N/A	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	N/A	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	N/A	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	N/A	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	N/A	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	N/A	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	N/A	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	N/A	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	N/A	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	N/A	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	N/A	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	N/A	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	N/A	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	N/A	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between SQQQ and SPY is -0.47 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.47

-101

Dividend Comparison (1999 - 2026)

SQQQ vs SPY dividend yield comparison.

Year	SQQQ	SPY
2026	1.50%	0.24%
2025	9.36%	1.07%
2024	10.23%	1.21%
2023	8.01%	1.40%
2022	0.28%	1.65%
2021	0.00%	1.20%
2020	2.15%	1.52%
2019	2.92%	1.75%
2018	1.47%	2.04%
2017	0.14%	1.80%
2016	0.00%	2.03%
2015	0.00%	2.06%
2014	0.00%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%