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ProShares Ultra QQQ (QLD)
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ProShares Ultra QQQ (QLD)

ETF · Currency in USD · Last updated Apr 8, 2026

QLD is a passive exchange-traded fund (ETF) managed by ProShares. It tracks the investment results of the NASDAQ-100 Index, a market-capitalization-weighted index of the 100 largest non-financial companies listed on the NASDAQ stock exchange. The NASDAQ-100 Index is designed to represent the performance of the technology and biotech sectors and other growth industries.

QLD is designed to provide investors with exposure to the NASDAQ-100 Index with the goal of achieving returns that are 200% of the index's performance. This means that if the NASDAQ-100 Index goes up by 1%, QLD is expected to increase by 2%. Similarly, if the NASDAQ-100 Index goes down by 1%, QLD is expected to drop by 2%.

QLD was launched on June 21, 2006, with a 0.95% expense ratio, which is relatively high compared to other ETFs and mutual funds. It is important to note that investing in leveraged funds can be very risky, as numerous factors can significantly impact the returns of these products. Therefore, QLD may not be suitable for investors with a low-risk tolerance or a buy-and-hold investment strategy.

ETF Info

ISIN
US74347R2067
CUSIP
74347R206
Issuer
ProShares
Inception Date
Jun 21, 2006
Region
North America (U.S.)
Category
Leveraged Equities, Leveraged
Leveraged
2x
Index Tracked
NASDAQ-100 Index (200%)
Distribution Policy
Distributing
Asset Class
Equity
Asset Class Size
Large-Cap
Asset Class Style
Growth

Share Price Chart

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ProShares Ultra QQQ

Often compared with QLD:
QLD vs. QQQQLD vs. TQQQQLD vs. SSOQLD vs. QQQMQLD vs. UPROQLD vs. VOOQLD vs. SPYQLD vs. ROMQLD vs. FNGSQLD vs. MAGXMore QLD alternatives

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in ProShares Ultra QQQ, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

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S&P 500 Index

Returns By Period

ProShares Ultra QQQ (QLD) has returned -9.95% so far this year and 76.37% over the past 12 months. Looking at the last ten years, QLD has achieved an annualized return of 30.22%, outperforming the S&P 500 Index benchmark, which averaged 12.45% per year.

ProShares Ultra QQQ

1D
0.06%
1M
-4.21%
YTD
-9.95%
6M
-8.72%
1Y
76.37%
3Y*
38.01%
5Y*
14.71%
10Y*
30.22%

Benchmark (S&P 500 Index)

1D
0.08%
1M
-1.83%
YTD
-3.34%
6M
-1.46%
1Y
30.71%
3Y*
17.25%
5Y*
10.06%
10Y*
12.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Jun 21, 2006, QLD's average daily return is +0.12%, while the average monthly return is +2.34%. At this rate, your investment would double in approximately 2.5 years.

Historically, 63% of months were positive and 37% were negative. The best month was Apr 2020 with a return of +30.6%, while the worst month was Oct 2008 at -33.1%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.

On a daily basis, QLD closed higher 56% of trading days. The best single day was Oct 13, 2008 with a return of +24.6%, while the worst single day was Mar 16, 2020 at -24.3%.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20261.85%-5.19%-10.26%3.92%-9.95%
20253.48%-6.00%-15.56%-0.34%18.23%12.52%4.30%1.18%10.48%8.95%-3.92%-1.92%30.36%
20242.89%10.03%1.74%-9.33%12.36%12.11%-4.31%1.09%4.35%-2.40%10.10%0.08%42.82%
202321.20%-1.74%18.79%0.34%15.24%12.32%7.22%-3.98%-10.21%-4.94%21.78%10.72%117.72%
2022-17.20%-9.55%7.87%-26.03%-4.76%-18.28%25.62%-10.86%-20.94%6.60%9.77%-18.08%-60.52%
20210.23%-0.72%2.31%11.84%-2.82%12.75%5.56%8.39%-11.43%16.17%3.63%1.61%54.67%

Benchmark Metrics

ProShares Ultra QQQ has an annualized alpha of 9.77%, beta of 2.07, and R² of 0.86 versus S&P 500 Index. Calculated based on daily prices since June 22, 2006.

  • This ETF captured 305.90% of S&P 500 Index gains and 172.44% of its losses — amplifying both gains and losses, but participating more in upside than downside.
  • This ETF generated an annualized alpha of 9.77% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
  • Beta of 2.07 means this ETF moves significantly more than S&P 500 Index — expect amplified gains in rallies and amplified losses in downturns.
Alpha
9.77%
Beta
2.07
R²
0.86
Upside Capture
305.90%
Downside Capture
172.44%

Expense Ratio

QLD has a high expense ratio of 0.95%, indicating above-average management fees.

Return for Risk

Risk / Return Rank

QLD ranks 53 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

QLD Risk / Return Rank: 5353
Overall Rank
QLD Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
QLD Sortino Ratio Rank: 5656
Sortino Ratio Rank
QLD Omega Ratio Rank: 5555
Omega Ratio Rank
QLD Calmar Ratio Rank: 5050
Calmar Ratio Rank
QLD Martin Ratio Rank: 4848
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) and compare them to a chosen benchmark (S&P 500 Index).

QLDBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

1.84

1.87

-0.02

Sortino ratio

Return per unit of downside risk

2.70

3.01

-0.31

Omega ratio

Gain probability vs. loss probability

1.36

1.41

-0.05

Calmar ratio

Return relative to maximum drawdown

2.20

2.49

-0.29

Martin ratio

Return relative to average drawdown

7.65

11.08

-3.43

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Explore QLD risk-adjusted metrics in detail

Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.

QLD Sortino RatioQLD Sharpe Ratio

Dividends

Dividend History

ProShares Ultra QQQ provided a 0.19% dividend yield over the last twelve months, with an annual payout of $0.12 per share.

0.00%0.05%0.10%0.15%0.20%0.25%0.30%0.35%$0.00$0.02$0.04$0.06$0.08$0.10$0.12$0.1420152016201720182019202020212022202320242025
Dividends
Dividend Yield
PeriodTTM20252024202320222021202020192018201720162015
Dividend$0.12$0.12$0.14$0.13$0.05$0.00$0.00$0.02$0.01$0.00$0.01$0.01

Dividend yield

0.19%0.17%0.25%0.33%0.31%0.00%0.00%0.13%0.06%0.02%0.21%0.11%

Monthly Dividends

The table displays the monthly dividend distributions for ProShares Ultra QQQ. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026$0.00$0.00$0.01$0.00$0.01
2025$0.00$0.00$0.01$0.00$0.00$0.06$0.00$0.00$0.02$0.00$0.00$0.02$0.12
2024$0.00$0.00$0.03$0.00$0.00$0.05$0.00$0.00$0.03$0.00$0.00$0.03$0.14
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.09$0.00$0.00$0.04$0.13
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.05$0.05
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the ProShares Ultra QQQ. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the ProShares Ultra QQQ was 83.13%, occurring on Mar 9, 2009. Recovery took 764 trading sessions.

The current ProShares Ultra QQQ drawdown is 16.97%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-83.13%Nov 1, 2007339Mar 9, 2009764Mar 19, 20121103
-63.68%Nov 22, 2021277Dec 28, 2022353May 24, 2024630
-51.72%Feb 20, 202022Mar 20, 202071Jul 1, 202093
-42.46%Aug 30, 201880Dec 24, 2018135Jul 10, 2019215
-42.29%Dec 17, 202476Apr 8, 202568Jul 17, 2025144

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Portfolio Analyzer

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