ProShares UltraShort Top QQQ (QQDN) Performance
QQDN total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −16.7% since Dec 31, 2025
- 1 year
- −19.4% total return
- Since first price
- −45.1% since 2025
QQDN trailing returns vs SPY, QQQ, AGG
| Period | QQDN total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.6% | +3.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −12.9% | −13.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −12.7% | −14.2% | +7.8% | +8.4% | −1.5% |
| YTD | −16.7% | −18.5% | +12.3% | +15.1% | −1.0% |
| 1 year | −19.4% | −23.1% | +14.4% | +15.9% | −1.1% |
| Since inceptionJun 12, 2025 | −45.1% | −48.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: QQDN vs SPY
From Jun 12, 2025: QQDN grew to $5,488, SPY to $12,796.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QQDN returns by calendar year
2026 is year to date.
QQDN annual returns table
| Year | QQDN | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −16.7% | −45.5% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
QQDN largest drawdowns
Now 46.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 13, 2025 | −51.8% | Oct 7, 2026 | not yet | 1.3 years | 1.4 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
QQDN risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −35.6% |
| Volatility (annualized) | 41.2% |
| Sharpe ratio | -0.94 |
| Sortino ratio | -1.11 |
| Best month | +19.0% |
| Worst month | −27.7% |
| Best 12 months | −23.6% |
| Worst 12 months | −31.8% |
| Positive months | 40% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
QQDN rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 5 | −31.8% | −29.4% | −10.3% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
QQDN performance overview
ProShares UltraShort Top QQQ (QQDN) returned −19.4% over the past year, with distributions reinvested. Since its first recorded price on Jun 12, 2025 it has returned −45.1%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −51.8%, from Jun 13, 2025 to Oct 7, 2026; the fund has not yet regained that high. Volatility has been 41.2% a year.
Related: QQDN chart, QQDN dividends. See the QQDN overview for the latest quote and fund facts.
QQDN performance FAQ
What is the QQDN return over the past year?
QQDN returned −19.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 23.1%.
How much would $10,000 invested in QQDN be worth?
$10,000 invested in QQDN at its first recorded close on June 12, 2025 would be worth about $5,488 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of QQDN?
The largest peak-to-trough decline was −51.8% between June 13, 2025 and October 7, 2026. It has not yet recovered to that high; it is 46.5% below its peak.
How volatile is QQDN?
Over the past history QQDN had an annualized volatility of 41.2% and a Sharpe ratio of -0.94 (excess return over 1–3 month T-bills per unit of risk).