Swap finder › Leveraged / inverse
SQQQ tax-loss harvesting alternatives
ProShares UltraPro Short QQQ (ProShares) tracks NASDAQ 100 Index. If you hold SQQQ at a loss, these ETFs track a different index, which generally makes them less likely to be considered “substantially identical” — while still moving closely with SQQQ during the 31-day wait.
| Held fund | Index tracked | Issuer | Expense ratio | AUM | Holdings | Category |
|---|---|---|---|---|---|---|
| SQQQ-3x inverse ProShares UltraPro Short QQQ | NASDAQ 100 Index | ProShares | 0.94% | $1.98B | 24 | Leveraged / inverse |
Sources: issuer fund page · public fund profile. Fund data as of 2026-10-16.
SQQQ wash sale alternatives (different index)
| ETF | Index tracked | Issuer | Expense ratio | AUM | 1-yr correlation | Holdings overlap | Notes |
|---|---|---|---|---|---|---|---|
| SPXS-3x inverse Direxion Daily S&P 500 Bear 3X ETF | S&P 500 | Direxion | 1.04% | $338.04M | 0.926 | n/a | different index |
| SPXU-3x inverse ProShares UltraPro Short S&P500 | S&P 500 | ProShares | 0.90% | $411.25M | 0.926 | n/a | different index |
| SDS-2x inverse ProShares UltraShort S&P 500 | S&P 500 | ProShares | 0.91% | $350.29M | 0.926 | n/a | different indexdifferent leverage |
| SOXS-3x inverse Direxion Daily Semiconductor Bear 3X ETF | NYSE Semiconductor Index | Direxion | 1.00% | $2.51B | 0.877 | n/a | different index |
| TZA-3x inverse Direxion Daily Small Cap Bear 3X ETF | Russell 2000 | Direxion | 0.99% | $240.84M | 0.747 | n/a | different indexloose match |
| SDOW-3x inverse ProShares UltraPro Short Dow30 | Dow Jones Industrial Average | ProShares | 0.95% | $142.74M | 0.629 | n/a | different indexloose match |
Sorted by 1-year correlation of daily total returns with SQQQ (through 2026-10-16). Holdings overlap = sum of the smaller weight of each common stock, from issuer holdings files; “n/a” where the issuer does not offer a free download or for bond/international/commodity funds. Hover a value for its as-of dates.
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Avoid as a replacement: same index as SQQQ
These track the same index (NASDAQ 100 Index). Buying one of them within the window is the classic “substantially identical” risk.
| ETF | Index tracked | Issuer | Expense ratio | AUM | 1-yr correlation | Holdings overlap | Notes |
|---|---|---|---|---|---|---|---|
| PSQ-1x inverse ProShares Short QQQ | NASDAQ 100 Index | ProShares | 0.95% | $596.82M | 1.000 | n/a | same index — avoid |
Unleveraged funds on the same index
These track NASDAQ 100 Index without leverage. Not suggested as swaps: a fund on the same index with different leverage is a gray area that some practitioners treat as potentially substantially identical.
| ETF | Index tracked | Issuer | Expense ratio | AUM | 1-yr correlation | Holdings overlap | Notes |
|---|---|---|---|---|---|---|---|
| QQQ Invesco QQQ Trust Series I | NASDAQ 100 Index | Invesco | 0.18% | $501.85B | -1.000 | n/a | same index, different leverage — gray area |
| QQQM Invesco NASDAQ 100 ETF | NASDAQ 100 Index | Invesco | 0.15% | $111.78B | -1.000 | n/a | same index, different leverage — gray area |
30-day wash-sale calendar for SQQQ
The window is 30 calendar days before and after the sale (61 days total, IRC §1091(a)). Buying the replacement fund right away is the point of a swap; the dates above are about buying back the fund you sold, or anything substantially identical to it.
Before you swap
- Turn off dividend reinvestment for SQQQ in every account (including IRAs) for the window — a reinvested dividend is a purchase.
- Check automatic investments, a spouse’s accounts, and any SQQQ bought in the 30 days before the sale.
- Your broker generally only flags wash sales for the identical security in the same account. You are responsible for the rest.
- Read how wash sales work and the FAQ, then confirm your plan with a tax professional.