SDS vs SQQQ
ProShares UltraShort S&P500 against ProShares UltraPro Short QQQ: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
14%
5 shared positions
Fee gap
6 bp
SDS is cheaper
1-year return gap
23.9 pts
SDS is ahead
Larger fund
SQQQ
$2.0B
Side by side
| SDS | SQQQ | |
|---|---|---|
| Fund | ProShares UltraShort S&P500 | ProShares UltraPro Short QQQ |
| Issuer | ProShares | ProShares |
| Category | Inverse Equity | Inverse Equity |
| Expense ratio | 0.89% | 0.95% |
| Assets | $358M | $2.0B |
| Average daily dollar volume | $199M | $1.7B |
| Listed | Jul 11, 2006 | Feb 9, 2010 |
| FrenzyCap score | 75 | 78 |
| 1-month return | −0.4% | +8.0% |
| 3-month return | −8.7% | −15.7% |
| Year to date | −22.2% | −46.7% |
| 1-year return | −25.2% | −49.1% |
| 30-day volatility | 19.6% | 51.8% |
| Worst drawdown, 1 year | −34.5% | −64.4% |
| Trailing 12-month yield | 5.31% | 8.92% |
| Holdings | 24 | 24 |
| Top 10 weight | 39.0% | 81.5% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$147M thru May 2026 | +$1.6B thru May 2026 |
| 30-day implied volatility | 27.2% | 65.9% |
| Holdings as of | as of Oct 21, 2026issuer data | as of Oct 21, 2026issuer data |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
15% of SDS · 41% of SQQQ| Holding | SDS | SQQQ |
|---|---|---|
| TREASURY BILL, due Jan 12, 2027 | 3.98% | 12.09% |
| TREASURY BILL, due Nov 10, 2026 | 4.41% | 3.44% |
| TREASURY BILL, due Dec 29, 2026 | 3.19% | 6.85% |
| TREASURY BILL, due Nov 3, 2026 | 2.67% | 9.54% |
| TREASURY BILL, due Nov 24, 2026 | 0.53% | 8.78% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · SDS holdings · SQQQ holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.