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ProShares Ultra QQQ (QLD) Alternatives

ETF · Currency in USD · Last updated Jun 23, 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 92 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%34.68MMar 2026QLD vs NTSD
IFED
ETRACS IFED Invest with the Fed TR Index ETN0.45%48.99MSep 2021QLD vs IFED
SPUU
Direxion Daily S&P 500 Bull 2X ETF0.60%239.79MMay 2014QLD vs SPUU
TSMG
Leverage Shares 2X Long TSM Daily ETF0.75%33.08MJan 2025QLD vs TSMG
AMDG
Leverage Shares 2X Long AMD Daily ETF0.75%40.80MJan 2025QLD vs AMDG

Best Risk-Adjusted Alternatives to QLD

QLD has a PortfoliosLab risk / return rank of 67. There are 35 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 98.

SymbolNameRisk / Return RankAUMInception
MULL
GraniteShares 2x Long MU Daily ETF
98
1.47BNov 2024QLD vs MULL
XTAP
Innovator U.S. Equity Accelerated Plus ETF
98
22.60MApr 2021QLD vs XTAP
INTW
GraniteShares 2x Long INTC Daily ETF
98
785.62MFeb 2025QLD vs INTW
QTAP
Innovator Growth Accelerated Plus ETF - April
97
19.18MApr 2021QLD vs QTAP
SOXL
Direxion Daily Semiconductor Bull 3X ETF
97
28.01BMar 2010QLD vs SOXL

Top Performing QLD Alternatives (YTD)

QLD is at 38.76% YTD. There are 71 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 1,096.58%.

SymbolNameYTD ReturnAUMInception
MULL
GraniteShares 2x Long MU Daily ETF
1,096.58%
1.47BNov 2024QLD vs MULL
INTW
GraniteShares 2x Long INTC Daily ETF
871.59%
785.62MFeb 2025QLD vs INTW
LINT
Direxion Daily INTC Bull 2X Shares
869.59%
104.27MNov 2025QLD vs LINT
ARMG
Leverage Shares 2X Long ARM Daily ETF
837.72%
229.25MJan 2025QLD vs ARMG
BEG
Leverage Shares 2X Long BE Daily ETF
778.97%
36.14MDec 2025QLD vs BEG

Lowest Volatility Alternatives to QLD

QLD has 35.17% 1-year volatility. There are 56 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.79%.

SymbolNameVolatility 1YAUMInception
XTAP
Innovator U.S. Equity Accelerated Plus ETF4.79%22.60MApr 2021QLD vs XTAP
QTAP
Innovator Growth Accelerated Plus ETF - April6.01%19.18MApr 2021QLD vs QTAP
XTJL
Innovator U.S. Equity Accelerated Plus ETF - July7.36%13.35MJul 2021QLD vs XTJL
QTJL
Innovator Growth Accelerated Plus ETF - July9.90%22.17MJul 2021QLD vs QTJL
XDSQ
Innovator US Equity Accelerated ETF10.52%68.78MApr 2021QLD vs XDSQ

Lowest Drawdown Alternatives to QLD

QLD has a 1-year max drawdown of -25.13%. There are 40 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%
22.60MApr 2021QLD vs XTAP
QTAP
Innovator Growth Accelerated Plus ETF - April
-2.49%
19.18MApr 2021QLD vs QTAP
XTJL
Innovator U.S. Equity Accelerated Plus ETF - July
-5.12%
13.35MJul 2021QLD vs XTJL
QTJL
Innovator Growth Accelerated Plus ETF - July
-6.68%
22.17MJul 2021QLD vs QTJL
XDSQ
Innovator US Equity Accelerated ETF
-9.60%
68.78MApr 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 $40B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
TQQQ
ProShares UltraPro QQQLeveraged Equities
68
56.90%
39.74BFeb 2010QLD vs TQQQ
BITO
ProShares Bitcoin Strategy ETFCryptocurrency
2
-27.53%
1.42BOct 2021QLD vs BITO
UPRO
ProShares UltraPro S&P 500Leveraged Equities, S&P 500
59
22.44%
5.36BJun 2009QLD vs UPRO
SSO
ProShares Ultra S&P500Leveraged Equities, S&P 500
59
16.27%
8.02BJun 2006QLD vs SSO
NOBL
ProShares S&P 500 Dividend Aristocrats ETFDividend, S&P 500, Large Cap Value Equities
31
5.77%
11.27BOct 2013QLD vs NOBL
USD
ProShares Ultra SemiconductorsLeveraged Equities, Semiconductors
89
110.66%
3.28BJan 2007QLD vs USD
SQQQ
ProShares UltraPro Short QQQLeveraged Equities, Inverse Equities, Nasdaq-100
0
-45.65%
1.83BFeb 2010QLD vs SQQQ
UVXY
ProShares Ultra VIX Short-Term Futures ETFVolatility
1
-28.03%
265.17MOct 2011QLD vs UVXY
BITU
Proshares Ultra Bitcoin ETFCryptocurrency, Leveraged Cryptocurrency
2
-55.20%
340.85MApr 2024QLD vs BITU
IQQQ
ProShares Nasdaq-100 High Income ETFNasdaq-100, Derivative Income, Dividend
67
17.28%
426.74MMar 2024QLD vs IQQQ

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
72
20.41%
493.17BMar 1999QLD vs QQQ
QQQM
Invesco NASDAQ 100 ETFNasdaq-100
72
20.46%
101.29BOct 2020QLD vs QQQM
VOO
Vanguard S&P 500 ETFS&P 500
68
9.75%
1.70TSep 2010QLD vs VOO
SPY
State Street SPDR S&P 500 ETFS&P 500
68
9.74%
765.27BJan 1993QLD vs SPY
ROM
ProShares Ultra TechnologyLeveraged Equities
76
68.28%
1.35BJan 2007QLD vs ROM
MAGX
Roundhill Daily 2X Long Magnificent Seven ETFLeveraged Equities
22
-11.19%
65.45MFeb 2024QLD vs MAGX
FNGS
MicroSectors FANG+ ETNLarge Cap Growth Equities
24
8.21%
554.66MNov 2019QLD vs FNGS
JEPQ
JPMorgan Nasdaq Equity Premium Income ETFNasdaq-100, Derivative Income
75
10.59%
40.03BMay 2022QLD vs JEPQ
QQUP
ProShares Ultra Top QQQLeveraged Equities
29
-0.71%
28.75MJun 2025QLD vs QQUP
FNGO
MicroSectors FANG+ Index 2X Leveraged ETNLeveraged Equities
22
11.80%
687.22MAug 2018QLD vs FNGO
LQQ.PA
Lyxor UCITS NASDAQ-100 Daily LeverageNasdaq-100, Leveraged Equities
73
40.01%
—Jun 2006QLD vs LQQ.PA
BRK-B
Berkshire Hathaway Inc.
40
-2.78%
——QLD vs BRK-B
QQU.TO
BetaPro NASDAQ-100 2x Daily Bull ETFNasdaq-100, Leveraged Equities
62
37.15%
500.98MJun 2008QLD vs QQU.TO
SMH
VanEck Semiconductor ETFSemiconductors, Technology Equities
96
85.74%
84.54BDec 2011QLD vs SMH
FNGG
Direxion Daily NYSE FANG+ Bull 2X SharesLeveraged Equities
21
11.08%
132.10MSep 2021QLD vs FNGG
URTH
iShares MSCI World ETFGlobal Equities
65
9.66%
8.07BJan 2012QLD vs URTH
PSQ
ProShares Short QQQInverse Equities
0
-16.09%
590.59MJun 2006QLD vs PSQ
SPMO
Invesco S&P 500 Momentum ETFMomentum, S&P 500
83
36.08%
21.99BOct 2015QLD vs SPMO
DXQLX
Direxion Monthly NASDAQ-100 Bull 1.75X FundLeveraged Equities
61
33.20%
—May 2006QLD vs DXQLX
QQQJ
Invesco NASDAQ Next Gen 100 ETFMid Cap Growth Equities
76
21.43%
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