5 Best Performing ETFs in 2022

4. ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

YTD Share Price Gain as of December 9: 61.99%

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) seeks daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of the NASDAQ 100 Index, which tracks the largest domestic and international non-financial companies listed on The Nasdaq Stock Market. ProShares UltraPro Short QQQ (NASDAQ:SQQQ) has an expense ratio of 0.98%. The fund was established in 2010 and makes distributions to shareholders quarterly. It is one of the best performing ETFs to consider. 

Microsoft Corporation (NASDAQ:MSFT) is one of the top holdings of ProShares UltraPro Short QQQ (NASDAQ:SQQQ). On December 7, Microsoft Corporation (NASDAQ:MSFT) was one of the Big Tech firms awarded contracts with a ceiling of $9 billion each by the U.S. Department of Defense. Under the contract, the company will provide the Department of Defense with cloud services across all security domains and classification levels. The expected completion date is June 8, 2028.

According to Insider Monkey’s Q3 database, 269 hedge funds were long Microsoft Corporation (NASDAQ:MSFT), compared to 258 funds in the earlier quarter. Bill & Melinda Gates Foundation Trust held the largest stake in the company, with 39.2 million shares worth over $9 billion. 

Diamond Hill made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2022 investor letter:

“Also among our bottom contributors were media and technology giant Alphabet, software and IT services provider Microsoft Corporation (NASDAQ:MSFT) and insurance company American International Group (AIG). Microsoft shares declined in Q3, along with other tech companies, as rising interest rates impacted the near-term outlook. We expect the business to continue to generate strong revenue growth and benefit from operating leverage. Microsoft’s cloud computing services business, Azure, is generating robust growth, confirming its competitive positioning.”