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ProShares Ultra QQQ (QLD) Alternatives

ETF · Currency in USD · Last updated Aug 2, 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.

ProShares Ultra QQQ (QLD) belongs to the Leveraged Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with QLD. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to QLD

QLD charges 0.95% annually. There are 97 ETFs in the Leveraged Equities category with lower expense ratios, going as low as 0.35%.

SymbolNameExpense RatioAUMInception
NTSD
WisdomTree Efficient U.S. Plus International Equit...0.35%43.18MMar 2026QLD vs NTSD
IFED
ETRACS IFED Invest with the Fed TR Index ETN0.45%48.07MSep 2021QLD vs IFED
BRKL
Corgi BRKB 2x Daily ETF0.45%—Jul 2026QLD vs BRKL
SPUU
Direxion Daily S&P 500 Bull 2X ETF0.60%260.25MMay 2014QLD vs SPUU
TERG
Leverage Shares 2X Long TER Daily ETF0.75%7.94MNov 2025QLD vs TERG

Best Risk-Adjusted Alternatives to QLD

QLD has a PortfoliosLab risk / return rank of 39. There are 86 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 98.

SymbolNameRisk / Return RankAUMInception
MUU
Direxion Daily MU Bull 2X Shares
98
3.86BOct 2024QLD vs MUU
MULL
GraniteShares 2x Long MU Daily ETF
98
531.06MNov 2024QLD vs MULL
XTAP
Innovator U.S. Equity Accelerated Plus ETF
98
22.69MApr 2021QLD vs XTAP
INTW
GraniteShares 2x Long INTC Daily ETF
97
282.58MFeb 2025QLD vs INTW
QTAP
Innovator Growth Accelerated Plus ETF - April
97
20.37MApr 2021QLD vs QTAP

Top Performing QLD Alternatives (YTD)

QLD is at 18.94% YTD. There are 99 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 615.57%.

SymbolNameYTD ReturnAUMInception
DLLL
GraniteShares 2x Long DELL Daily ETF
615.57%
101.24MFeb 2025QLD vs DLLL
MUU
Direxion Daily MU Bull 2X Shares
372.51%
3.86BOct 2024QLD vs MUU
MULL
GraniteShares 2x Long MU Daily ETF
359.36%
531.06MNov 2024QLD vs MULL
LINT
Direxion Daily INTC Bull 2X Shares
259.95%
63.06MNov 2025QLD vs LINT
INTW
GraniteShares 2x Long INTC Daily ETF
259.86%
282.58MFeb 2025QLD vs INTW

Lowest Volatility Alternatives to QLD

QLD has 38.62% 1-year volatility. There are 70 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.93%.

SymbolNameVolatility 1YAUMInception
XTAP
Innovator U.S. Equity Accelerated Plus ETF4.93%22.69MApr 2021QLD vs XTAP
QTAP
Innovator Growth Accelerated Plus ETF - April6.61%20.37MApr 2021QLD vs QTAP
XTJL
Innovator U.S. Equity Accelerated Plus ETF - July7.79%13.42MJul 2021QLD vs XTJL
XDSQ
Innovator US Equity Accelerated ETF10.98%69.34MApr 2021QLD vs XDSQ
QTJL
Innovator Growth Accelerated Plus ETF - July11.72%19.11MJul 2021QLD vs QTJL

Lowest Drawdown Alternatives to QLD

QLD has a 1-year max drawdown of -25.13%. There are 37 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.72%.

SymbolNameMax Drawdown 1YAUMInception
XTAP
Innovator U.S. Equity Accelerated Plus ETF
-1.72%
22.69MApr 2021QLD vs XTAP
QTAP
Innovator Growth Accelerated Plus ETF - April
-2.81%
20.37MApr 2021QLD vs QTAP
XTJL
Innovator U.S. Equity Accelerated Plus ETF - July
-5.12%
13.42MJul 2021QLD vs XTJL
QTJL
Innovator Growth Accelerated Plus ETF - July
-8.48%
19.11MJul 2021QLD vs QTJL
XDSQ
Innovator US Equity Accelerated ETF
-9.60%
69.34MApr 2021QLD vs XDSQ

Other ETFs from ProShares

The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, UPRO and span 11 categories. AUM among these funds goes as high as $33B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
TQQQ
ProShares UltraPro QQQLeveraged Equities
36
23.06%
32.83BFeb 2010QLD vs TQQQ
BITO
ProShares Bitcoin Strategy ETFCryptocurrency
1
-29.42%
1.41BOct 2021QLD vs BITO
UPRO
ProShares UltraPro S&P 500Leveraged Equities, S&P 500
50
21.72%
5.15BJun 2009QLD vs UPRO
SSO
ProShares Ultra S&P500Leveraged Equities, S&P 500
54
16.14%
7.81BJun 2006QLD vs SSO
NOBL
ProShares S&P 500 Dividend Aristocrats ETFDividend, S&P 500, Large Cap Value Equities
47
10.84%
11.68BOct 2013QLD vs NOBL
USD
ProShares Ultra SemiconductorsLeveraged Equities, Semiconductors
52
50.25%
2.47BJan 2007QLD vs USD
SQQQ
ProShares UltraPro Short QQQLeveraged Equities, Inverse Equities, Nasdaq-100
2
-34.61%
2.00BFeb 2010QLD vs SQQQ
IQQQ
ProShares Nasdaq-100 High Income ETFNasdaq-100, Derivative Income, Dividend
44
10.08%
394.37MMar 2024QLD vs IQQQ
UVXY
ProShares Ultra VIX Short-Term Futures ETFVolatility
2
-35.24%
244.68MOct 2011QLD vs UVXY
BITU
Proshares Ultra Bitcoin ETFCryptocurrency, Leveraged Cryptocurrency
1
-58.54%
337.97MApr 2024QLD vs BITU

Often Compared With QLD

Investors most often compare QLD with QQQ, QQQM, VOO. These 20 comparison targets span 11 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
QQQ
Invesco QQQ ETFNasdaq-100
49
12.26%
452.80BMar 1999QLD vs QQQ
QQQM
Invesco NASDAQ 100 ETFNasdaq-100
49
12.29%
97.11BOct 2020QLD vs QQQM
VOO
Vanguard S&P 500 ETFS&P 500
68
10.16%
1.70TSep 2010QLD vs VOO
SPY
State Street SPDR S&P 500 ETFS&P 500
67
10.13%
789.06BJan 1993QLD vs SPY
ROM
ProShares Ultra TechnologyLeveraged Equities
47
37.33%
1.13BJan 2007QLD vs ROM
MAGX
Roundhill Daily 2X Long Magnificent Seven ETFLeveraged Equities
19
-7.36%
56.10MFeb 2024QLD vs MAGX
FNGS
MicroSectors FANG+ ETNLarge Cap Growth Equities
22
9.02%
554.66MNov 2019QLD vs FNGS
JEPQ
JPMorgan Nasdaq Equity Premium Income ETFNasdaq-100, Derivative Income
55
6.05%
39.88BMay 2022QLD vs JEPQ
QQUP
ProShares Ultra QQQ MegaLeveraged Equities
24
4.80%
28.09MJun 2025QLD vs QQUP
FNGO
MicroSectors FANG+ Index 2X Leveraged ETNLeveraged Equities
19
12.30%
687.22MAug 2018QLD vs FNGO
LQQ.PA
Amundi Nasdaq-100 Daily (2x) Leveraged UCITS ETF A...Nasdaq-100, Leveraged Equities
38
18.27%
—Jun 2006QLD vs LQQ.PA
BRK-B
Berkshire Hathaway Inc.
61
1.77%
——QLD vs BRK-B
QQU.TO
BetaPro NASDAQ-100 2x Daily Bull ETFNasdaq-100, Leveraged Equities
36
17.50%
440.60MJun 2008QLD vs QQU.TO
SPMO
Invesco S&P 500 Momentum ETFMomentum, S&P 500
46
21.07%
21.05BOct 2015QLD vs SPMO
SMH
VanEck Semiconductor ETFSemiconductors, Technology Equities
87
50.09%
68.10BDec 2011QLD vs SMH
FNGG
Direxion Daily NYSE FANG+ Bull 2X SharesLeveraged Equities
19
11.69%
116.94MSep 2021QLD vs FNGG
URTH
iShares MSCI World ETFGlobal Equities
70
10.21%
8.00BJan 2012QLD vs URTH
PSQ
ProShares Short QQQInverse Equities
3
-9.94%
758.69MJun 2006QLD vs PSQ
DXQLX
Direxion Monthly NASDAQ-100 Bull 1.75X FundLeveraged Equities
28
14.96%
—May 2006QLD vs DXQLX
QQQJ
Invesco NASDAQ Next Gen 100 ETFMid Cap Growth Equities
77
19.53%
1.12BOct 2020QLD vs QQQJ

Compare QLD with Any Fund or Stock

Compare QLD with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair QLD with funds that move differently

ProShares Ultra QQQ alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to QLD.

Explore QLD Diversifiers