Data as of Oct 27, 2026.
PSQ vs QQQP: Leverage, Returns & Decay
Over the three months to Oct 27, 2026, PSQ returned −5.7% and QQQP 13.1%.
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Net assets on Oct 27, 2026: $623m for ProShares Short QQQ and $13m for Tradr 2X Long Innovation 100 Quarterly ETF.
Pair scorecard
PSQ costs 0.05 points a year less; their one-year returns differ by 29.2 points; PSQ is far larger, $623m against $13m.
Points (pts) are percentage points.
| Measure | PSQ | QQQP |
|---|---|---|
| Return | ||
| Total return, 1 year | −10.9% | +18.3% |
| What its daily multiple gave, 3 months | −7.3% | |
| What the underlying did, 3 months | QQQ 6.9% | QQQ 6.9% |
| What the underlying did, 3 months | QQQ 6.9% | QQQ 6.9% |
| The multiple over the whole window | −1 times gives −6.9% | |
| Against its benchmark | ||
| What it tracks | Nasdaq-100 | Nasdaq-100 |
| Against its daily multiple, 3 months | 1.6 points over | |
| Against the whole-window multiple | 1.2 points over | |
| Cost and size | ||
| Expense ratio | 0.95% | 1.00% |
| Net assets | $623m | $13m |
| Holdings | ||
| Holdings in common | not published | |
Side by side
As of Oct 27, 2026. Source: ETFIQ.
Window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | PSQ | QQQP | PSQ | QQQP | PSQ | QQQP |
| 1 month | +3.6% | −6.8% | +3.1% | not meaningful | +0.5 pts | not meaningful |
| 3 months | −5.7% | +13.1% | −6.9% | not meaningful | +1.2 pts | not meaningful |
| 6 months | −8.1% | +13.3% | −9.9% | not meaningful | +1.8 pts | not meaningful |
| 1 year | −10.9% | +18.3% | −15.4% | not meaningful | +4.5 pts | not meaningful |
| 3 years | −47.5% | – | not meaningful | – | not meaningful | – |
| Since launchNot the same days: PSQ Jun 2006 · QQQP Oct 2024 | −97.4% | +80.5% | not meaningful | not meaningful | not meaningful | not meaningful |
Source: ETFIQ. – means no data for this window. Open this comparison in the app →
Over the three months to Oct 27, 2026, PSQ lost 5.7%, against −7.3% for the inverse of QQQ's daily moves. Of that 1.2, daily compounding is −0.4 points, which any −1 times fund would show over the same path, and the fund itself is +1.6 points against −1 times each day's move, compounded.
Read the multiple against the whole window instead and −1 times QQQ's 6.9% implies −6.9%, which makes PSQ look 1.2 points over. That is not the fund's objective, which is daily. PSQ aims to return -1 times QQQ's move each day, then resets. Over one day it does that. Over longer periods the daily results compound, so the total is not -1 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run. QQQ moved at 19% annualized over that window. The more it moves, the further the two numbers separate.
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How this is computed
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, PSQ against QQQP, data as of Oct 27, 2026. https://etfiq.com/compare/leverage/psq-vs-qqqp
ETFIQ. (Oct 27, 2026). PSQ against QQQP. Retrieved from https://etfiq.com/compare/leverage/psq-vs-qqqp
[PSQ against QQQP (ETFIQ, Oct 27, 2026)](https://etfiq.com/compare/leverage/psq-vs-qqqp)
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