Skip to content
etf.net

SQQQ vs YANG

ProShares UltraPro Short QQQ

SQQQANasdaq

Direxion Daily FTSE China Bear 3X ETF

YANGCNYSE Arca

Overlap

Expense ratio

SQQQ −0.09pt a year

SQQQ0.94%YANG1.03%

Avg volume · 30D

SQQQ 73.9×the volume

SQQQ50MYANG676K

10Y return · a year

YANG +19.2pt

SQQQ−54.3%YANG−35.1%

SQQQ vs YANG Performance

Oct 29, 2021 – Oct 30, 2026

−93.7%SQQQ−88.1%YANG

Oct 29, 2021 to Oct 30, 2026. SQQQ −93.7%. YANG −88.1%. Use the arrow keys to read each point.−50%0%50%100%Oct 2021Apr 2024Oct 2026
Expense ratio
SQQQ 0.94%, better
YANG 1.03%
Fund size
SQQQ $2.04B
YANG $83M
1Y total return
SQQQ −32.5%
YANG +53.4%, better
Yield (12M)
SQQQ 7.78%, better
YANG 2.83%
Holdings
SQQQ 12
YANG 4
Avg volume (30D)
SQQQ 50M sh, better
YANG 676K sh
NAV per share
SQQQ $41.85
YANG $36.00
52W range

ETF.net Grade

SQQQ: Cost 99, Risk 47, Mission 95, Tradability 92, Holdings 47, Durability 73. YANG: Cost 42, Risk 70, Mission not scored, Tradability 27, Holdings not scored, Durability 53.
Pillar letters and Scores for SQQQ, YANG, with each pillar’s weight
PillarSQQQYANG
Cost30% weightA99HigherC42
Mission25% weightA95Not scored
Risk15% weightC47A70Higher
Tradability15% weightA92HigherD27
Holdings10% weightC47Not scored
Durability5% weightA73HigherC53

Rank among 3x Leveraged Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. SQQQ and YANG are both graded against the same 14 3x Leveraged Inverse funds, so their Grades compare head to head.

3x Leveraged Inverse⁠

Category · 14 funds
See all 14 ›

SQQQ ranks 1st and YANG 8th of 14 funds in the 3x Leveraged Inverse Category.

  1. Rank 1ASQQQProShares UltraPro Short QQQScore 83
  2. Rank 2ASDOWProShares UltraPro Short Dow30Score 78
  3. Rank 7CTECSDirexion Daily Technology Bear 3X ETFScore 46
  4. Rank 8CYANGDirexion Daily FTSE China Bear 3X ETFScore 45
  5. Rank 9CSMDDProShares UltraPro Short MidCap400Score 40

Our read on each fund

ETF.net Research

SQQQAProShares UltraPro Short QQQ

YANGCDirexion Daily FTSE China Bear 3X ETF

In short

SQQQ The workhorse of the short-Nasdaq trade. Running since 2010, it aims at three times the inverse of the Nasdaq-100's daily move, resets every session, and charges 0.94% a year, below the going rate in the 3x bear category.

YANG The blunt instrument for a rough day in Chinese equities. YANG aims for -300% of the FTSE China 50's daily move, resets every night, and has been running that playbook since 2009. Built for a day, not a decade.

Stated mandate

SQQQ The fund seeks daily investment results, before fees and expenses, equal to three times the inverse of the Nasdaq-100 Index’s daily performance.

YANG The fund seeks daily investment results, before fees and expenses, equal to -300% of the FTSE China 50 Index. Its objective applies to a single day and is not intended to provide negative three-times cumulative performance over longer periods.

Why people hold it

  • SQQQ 0.94% a year with no waiver propping it up, and below what 3x bear peers charge: SDOW and SRTY each sit at 0.95% net of waivers through September 30, 2027.
  • One of the most actively traded funds in its category, with a billion-dollar-plus asset base behind it. Depth is the reason traders reach for this one.
  • ProShares has run this single-day mandate since February 2010, and it tracks its stated -3x daily target about as closely as anything in its peer group.proshares.com
  • The mandate is blunt and public: three times the inverse of the Nasdaq-100's daily performance, before fees, measured NAV to NAV. No discretion, no stock picking.sec.gov
  • YANG Costs 1.03% a year, below the typical leveraged bear fund and well under the other US funds shorting this same index (FXP at 1.79%, YXI at 2.65%).
  • Aims for -300% of the index's daily move, so expressing a bearish view ties up a fraction of the capital an unleveraged short position would.
  • Short exposure in a plain brokerage account: no margin agreement, no locating shares to borrow, no losses beyond the amount invested.direxion.com
  • Launched in December 2009 and actively traded since, making it one of the more established ways to short large Hong Kong-listed Chinese names.direxion.com

Worth knowing

  • SQQQ Returns compound daily. Over any period longer than a single day, results will very likely differ from -3x the index, and the fund can lose money when the index is flat.sec.gov
  • It holds swaps and futures on the index, not shorted stocks, so counterparty exposure and financing costs ride along with the price.sec.gov
  • At 0.94%, the fee is heavy freight for a vehicle built around single-day results. Distributions, when declared, come quarterly.
  • YANG The -3x objective applies to one day only. Hold longer and the nightly reset makes results path-dependent, especially in choppy markets.
  • Leverage cuts both ways: an up day in the FTSE China 50 hits roughly three times as hard here.
  • That 1.03% fee is cheap for this corner of the market but many times a plain index fund's, and it accrues daily whether the trade works or not.

Full SQQQ profile⁠

Full YANG profile⁠

SQQQ vs YANG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SQQQ vs YANG Cost

Overpaying YANG vs SQQQ

$1,469

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SQQQ 0.94%

    $17,704

  • YANG 1.03%

    $19,173

$10,000
30 years

Cost over time

  • SQQQ 0.94%
  • YANG 1.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530YANG $19,173SQQQ $17,704

Year by year

YearSQQQYANGOverpaying
10$1,661$1,814$153
20$6,260$6,807$547
30$17,704$19,173$1,469

Expense ratio

  • 0.94%SQQQ, cheaper
  • 1.03%YANG
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SQQQ cheapest of 14 funds

YANG 8th cheapest of 14 funds

SQQQ vs YANG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SQQQ 7.78%, better
YANG 2.83%
Payout (12M)
SQQQ $3.25
YANG $0.98
Last payment
SQQQ $0.47
YANG $0.27
Ex-dividend
SQQQ Sep 23, 2026
YANG Sep 22, 2026
Paid on
SQQQ Sep 29, 2026
YANG Sep 29, 2026
Frequency
SQQQ Quarterly
YANG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SQQQQuarterly · 26 paymentsAll SQQQ payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $15.09; Mar 21, 2018 $17.68; Jun 20, 2018 $20.64; Sep 26, 2018 $33.37; Dec 26, 2018 $257.26; Mar 20, 2019 $72.88; Jun 25, 2019 $152.59; Sep 25, 2019 $115.46; Dec 24, 2019 $67.50; Mar 25, 2020 $40.77; Dec 22, 2022 $3.78; Mar 22, 2023 $5.11; Jun 21, 2023 $6.66; Sep 20, 2023 $8.10; Dec 20, 2023 $7.07; Mar 20, 2024 $4.10; Jun 26, 2024 $4.01; Sep 25, 2024 $3.74; Dec 23, 2024 $4.08; Mar 26, 2025 $2.41; Jun 25, 2025 $1.28; Sep 24, 2025 $1.21; Dec 24, 2025 $1.51; Mar 25, 2026 $0.64; Jun 24, 2026 $0.64; Sep 23, 2026 $0.47. Use the arrow keys to read each point.$0$2502017202020232026YTD
YANGQuarterly · 23 paymentsAll YANG payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Mar 20, 2018 $1.05; Sep 25, 2018 $2.28; Dec 27, 2018 $4.19; Mar 19, 2019 $2.91; Jun 25, 2019 $3.80; Sep 24, 2019 $3.39; Dec 23, 2019 $1.91; Mar 24, 2020 $0.01; Mar 21, 2023 $3.17; Jun 21, 2023 $1.59; Sep 19, 2023 $1.80; Dec 21, 2023 $2.81; Mar 19, 2024 $1.91; Jun 25, 2024 $2.32; Sep 24, 2024 $1.63; Dec 23, 2024 $0.74; Mar 25, 2025 $0.26; Jun 24, 2025 $0.27; Sep 23, 2025 $0.21; Dec 23, 2025 $0.29; Mar 24, 2026 $0.26; Jun 23, 2026 $0.16; Sep 22, 2026 $0.27. Use the arrow keys to read each point.$0$2502017202020232026YTD

SQQQ vs YANG Risk

Fall from peak · 5 years

  • SQQQ
  • YANG
Oct 29, 2021 to Oct 30, 2026. Worst fall: SQQQ −97.5% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
SQQQ 48.2%, betterYANG 58.3%
Return per unit of riskSharpe ratio, 3 years
SQQQ −1.42YANG −0.77, better
Worst fallMax drawdown, 5 years
SQQQ −97.5%YANG −97.4%, better
Market sensitivityBeta, 5 years
SQQQ −3.43YANG −0.96

Popular comparisons

  • SQQQAvsSDOWA

    ProShares UltraPro Short QQQ · ProShares UltraPro Short Dow30

    Expense ratio
    0.94% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YANGCvsSDOWA

    Direxion Daily FTSE China Bear 3X ETF · ProShares UltraPro Short Dow30

    Expense ratio
    1.03% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SQQQAvsSRTYA

    ProShares UltraPro Short QQQ · ProShares UltraPro Short Russell2000

    Expense ratio
    0.94% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YANGCvsSRTYA

    Direxion Daily FTSE China Bear 3X ETF · ProShares UltraPro Short Russell2000

    Expense ratio
    1.03% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SQQQAvsTZAB

    ProShares UltraPro Short QQQ · Direxion Daily Small Cap Bear 3X ETF

    Expense ratio
    0.94% · 0.99%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YANGCvsTZAB

    Direxion Daily FTSE China Bear 3X ETF · Direxion Daily Small Cap Bear 3X ETF

    Expense ratio
    1.03% · 0.99%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.