TQQQ’s worst drop since 2010 was 82%
ProShares UltraPro QQQ (3x) (TQQQ) fell 82% from Nov 2021 to Dec 2022. It took 3.0 years from that peak to close at a new high, in Dec 2024. Over the same years the S&P 500 fell as much as 34%.
That drop is milder than most. It ranks 8th of the 12 leveraged ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2010 to now
How TQQQ held up in each crash
| Crash | Years | TQQQ | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −69.9% | −33.7% |
| 2022 rate shock | 2022 | −81.0% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was TQQQ’s maximum drawdown?
TQQQ’s deepest fall since 2010 was 81.7%, from its high on November 19, 2021 to its low on December 28, 2022. The figure uses daily prices with dividends reinvested.
How long did TQQQ take to recover?
3.0 years. TQQQ first closed above its Nov 2021 high again on December 4, 2024.
Was TQQQ riskier than the S&P 500?
Over the same years, TQQQ’s worst drop was 81.7% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −81.0% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, February 12, 2010 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.