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ProShares Ultra QQQ (QLD) Diversifiers

ETF · Currency in USD · Last updated Aug 2, 2026
Documentation

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.

Looking to diversify beyond QLD? The ETFs below have historically moved differently from QLD, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.

Best Diversifiers for QLD

428 ETFs have low correlation with QLD (below 0.3), 103 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.49, down from -0.37 over 3 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
BITI
ProShares Short Bitcoin ETF-0.49-0.37—
61
CryptocurrencyQLD vs BITI
SBIT
Proshares Ultrashort Bitcoin ETF-0.49——
55
Cryptocurrency, Leveraged CryptocurrencyQLD vs SBIT
MSTZ
T-REX 2X Inverse MSTR Daily Target ETF-0.49——
61
Inverse Equities, Leveraged EquitiesQLD vs MSTZ
WNTR
YieldMax MSTR Short Option Income Strategy ETF-0.48——
75
Derivative IncomeQLD vs WNTR
CAOS
Alpha Architect Tail Risk ETF-0.32-0.06—
56
Options TradingQLD vs CAOS
See all 1741 diversifiers for QLD

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Low-Correlation Stock Ideas

The table shows companies with at least $1B in market capitalization, historical correlation data for QLD, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.36, down from -0.02 over 5 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
MO
Altria Group, Inc.-0.36-0.15-0.02
66
Consumer Defensive
CB
Chubb Limited-0.32-0.090.08
89
Financial Services
KO
The Coca-Cola Company-0.31-0.090.09
90
Consumer Defensive
DUK
Duke Energy Corporation-0.31-0.17-0.03
56
Utilities
PEP
PepsiCo, Inc.-0.29-0.060.11
50
Consumer Defensive
See all 148 low-correlation stocks for QLD

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Diversification Analysis

Build a portfolio that complements QLD

Add QLD to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with QLD