# SQQQ (ProShares UltraPro Short QQQ)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: SQQQ returned −7.9% where its own daily promise gave −11.3%, 3.4 points over.

## Key facts

- SQQQ, what QQQ did: +2.1%, as of Sep 30, 2026.
- SQQQ, what −3 times a day gives: −11.3%, as of Sep 30, 2026.
- SQQQ, what the fund returned: −7.9%, as of Sep 30, 2026.
- SQQQ, the fund itself added: +3.4 pts, as of Sep 30, 2026.
- SQQQ, net assets: $2.1bn (issuer page, as of Sep 30, 2026).
- SQQQ, expense ratio: 0.94% (485BPOS XBRL, Sep 25, 2026).

## SQQQ over each window to Sep 30, 2026

| Window | Fund | QQQ | -3x the move | Difference | QQQ moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −9.4% | +3.3% | −9.9% | +0.5 pts | 16% |
| 3 months | −7.9% | +2.1% | −6.4% | −1.5 pts | 19% |
| 6 months | −54.3% | +26.9% | −80.6% | +26.4 pts | 22% |
| 1 year | −52.0% | +23.8% | −71.4% | +19.4 pts | 20% |
| 3 years | −91.7% | +110.0% | not meaningful over this window | not meaningful over this window | 20% |
| Since launch | −100.0% | +1853.3% | 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 +2.1% over this window, too little to read a multiple from | ETFIQ |
| Underlying | QQQ | ETFIQ |
| Segment | broad index, US large cap | ETFIQ |
| Net assets | $2.1bn | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.94% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Feb 11, 2010 | ETFIQ |
| Underlying volatility over the window | 19% annualized | ETFIQ |

## Questions

### Did SQQQ return -3 times QQQ?

Over the window to Sep 30, 2026, QQQ moved +2.1% and SQQQ returned −7.9%. −3 times that move is −6.4%, so the fund came out 1.5 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 30, 2026. https://etfiq.com/funds/sqqq
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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