QQQ vs TQQQ: Returns, Drawdowns and Dividends Since 2016
TQQQ (ProShares UltraPro QQQ) moved the same way as QQQ (Invesco QQQ Trust, Series 1) on most days (a daily correlation of 0.999) but swung 3.0 times as much. TQQQ came out ahead, returning 34.4% a year with dividends reinvested from January 2016 to November 2026, against 18.8% for QQQ.
Bought on any day and held five years, TQQQ finished ahead 94% of the time. The extra return came with deeper falls: TQQQ dropped 81.7% at its worst, QQQ 35.1%.
| Measure | QQQ | TQQQ |
|---|---|---|
| Annual return | 18.8% | 34.4% |
| $10,000 grew to | $64,732 | $245,967 |
| Worst decline | −35.1%Nov 2022 | −81.7%Dec 2022 |
| Volatility Volatility How much the fund's daily returns swing: their standard deviation over this period, annualized with the square root of 252 trading days. | 22.3% | 66.1% |
| Sharpe ratio Sharpe ratio Return above T-bills for each unit of risk: daily returns minus the T-bill ETF BIL, averaged, divided by their standard deviation and annualized. Higher is better. T-bill funds show none. Sharpe ratio calculator | 0.79 | 0.75 |
| 12-month yield 12-month yield Cash dividends with ex-dividend dates in the past 12 months, divided by the latest closing price. | 0.5% | 0.9% |
| Best year | +54.9%2023 | +198.3%2023 |
| Worst year | −32.6%2022 | −79.1%2022 |
| Correlation between them Correlation How closely the two funds' daily returns moved together over this period: 1 means identical every day, 0 means no relation. | 0.999 | |
QQQ: Invesco QQQ Trust, Series 1TQQQ: ProShares UltraPro QQQ
Jan 4, 2016 to Nov 6, 2026, dividends reinvested.
Hover or use the arrow keys to read any day.Tap or drag across the chart to read any day.
Worst declines
QQQ fell 35.1% from Dec 27, 2021 to Nov 3, 2022 and was back at its high on Dec 13, 2023. TQQQ fell 81.7% from Nov 19, 2021 to Dec 28, 2022 and was back at its high on Dec 4, 2024.
Hover or use the arrow keys to read any day.Tap or drag across the chart to read any day.
Year by year
QQQ was ahead in 3 of the 11 calendar years.
| Year | QQQ | TQQQ | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 6) | +7.2% | −0.3% | QQQ+7.5 |
| 2025 | +20.8% | +34.4% | TQQQ+13.6 |
| 2024 | +25.6% | +58.2% | TQQQ+32.7 |
| 2023 | +54.9% | +198.3% | TQQQ+143.4 |
| 2022 | −32.6% | −79.1% | QQQ+46.5 |
| 2021 | +27.4% | +83.0% | TQQQ+55.6 |
| 2020 | +48.6% | +110.1% | TQQQ+61.5 |
| 2019 | +39.0% | +133.9% | TQQQ+94.9 |
| 2018 | −0.1% | −19.8% | QQQ+19.7 |
| 2017 | +32.7% | +118.1% | TQQQ+85.4 |
| 2016 (from Jan 4) | +9.4% | +18.3% | TQQQ+8.9 |
Held for 1, 3 or 5 years: which came out ahead
Buy on any trading day from Jan 4, 2016, hold for a set time, and see which fund ended higher. The periods overlap, so they show how much the start date mattered, not separate results.
| Hold | Days tested | Ahead more often | Median lead (pts) |
|---|---|---|---|
| 1 year | 2,476 | TQQQ74% | +36.5 |
| 3 years | 1,972 | TQQQ72% | +125.5 |
| 5 years | 1,468 | TQQQ94% | +121.8 |
Median lead is the typical gap in total return across all start dates, in percentage points. The latest 5-year hold starts on Oct 29, 2021.
Dividends
Over the past 12 months QQQ paid 0.5% of its price in dividends and TQQQ 0.9%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | QQQ | TQQQ |
|---|---|---|
| 2026 (to Nov 6) | $2.30 3 payments | $0.40 3 payments |
| 2025 | $2.79 4 payments | $0.34 4 payments |
| 2024 | $2.85 4 payments | $0.50 4 payments |
| 2023 | $2.54 5 payments | $0.32 4 payments |
| 2022 | $2.13 4 payments | $0.05 1 payment |
| 2021 | $1.70 4 payments | $0.00 1 payment |
| 2020 | $1.74 4 payments | $0.00 1 payment |
| 2019 | $1.58 4 payments | $0.01 2 payments |
| 2018 | $1.41 4 payments | $0.01 1 payment |
| 2017 | $1.30 4 payments | — |
| 2016 (from Jan 4) | $1.25 4 payments | — |
Per share in today's shares (earlier amounts are restated for share splits), by ex-dividend date.
The two funds
- QQQ
- Invesco QQQ Trust, Series 1, an ETF launched Mar 10, 1999. FinLab prices start Jan 4, 2016.
- QQQ price and signal backtests
- TQQQ
- ProShares UltraPro QQQ, an ETF launched Feb 9, 2010. FinLab prices start Jan 4, 2016.
- TQQQ price and signal backtests
More comparisons
Source: FinLab U.S. fund prices, Jan 4, 2016 to Nov 6, 2026, the days both funds traded. Returns use prices adjusted for dividends and splits, before taxes; annual return is compounded.
For research and education. Past returns do not guarantee future results, and this is not investment advice.