# SQQQ (ProShares UltraPro Short QQQ)

ProShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: SQQQ returned −1.4% where its own daily promise gave −5.0%, 3.6 points over.

## Key facts

- SQQQ, what QQQ did: −0.8%, as of Sep 11, 2026.
- SQQQ, what −3 times a day gives: −5.0%, as of Sep 11, 2026.
- SQQQ, what the fund returned: −1.4%, as of Sep 11, 2026.
- SQQQ, the fund itself added: +3.6 pts, as of Sep 11, 2026.
- SQQQ, net assets: $2.0bn (issuer page, as of Sep 11, 2026).
- SQQQ, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## SQQQ over each window to Sep 11, 2026

| Window | Fund | QQQ | -3x the move | Difference | QQQ moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +4.2% | −1.2% | +3.7% | +0.5 pts | 13% |
| 3 months | −1.4% | −0.8% | +2.4% | −3.8 pts | 22% |
| 6 months | −47.4% | +20.7% | −62.1% | +14.6 pts | 22% |
| 1 year | −50.6% | +23.0% | −68.9% | +18.3 pts | 20% |
| 3 years | −89.7% | +95.1% | −285.3% | +195.6 pts | 20% |
| Since launch | −100.0% | +1785.6% | not meaningful over this window | not meaningful over this window | 21% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -3 times the daily move of QQQ, reset daily | ETFIQ |
| Multiple a holder actually got over the window | QQQ moved −0.8% over this window, too little to read a multiple from | ETFIQ |
| Underlying | QQQ | ETFIQ |
| Segment | broad index, us large cap | ETFIQ |
| Net assets | $2.0bn | issuer page, as of Sep 11, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 23, 2025 |
| Launched | Feb 11, 2010 | ETFIQ |
| Underlying volatility over the window | 22% annualized | ETFIQ |

## Questions

### Did SQQQ return -3 times QQQ?

Over the window to Sep 11, 2026, QQQ moved −0.8% and SQQQ returned −1.4%. 3 times that move is +2.4%, so the fund came out 3.8 points short of it.

### Why does SQQQ not return -3 times over a year?

Because it resets daily. SQQQ aims at -3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, SQQQ, data as of Sep 11, 2026. https://etfiq.com/funds/SQQQ
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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