ProShares Ultra QQQ Mega (QQUP) 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 QQUP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to QQUP
QQUP charges 0.95% annually. There are 100 ETFs in the Leveraged Equities category with lower expense ratios, going as low as 0.35%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Efficient U.S. Plus International Equit... | 0.35% | 44.22M | Mar 2026 | QQUP vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 49.31M | Sep 2021 | QQUP vs IFED | |
| Direxion Daily S&P 500 Bull 2X ETF | 0.60% | 257.66M | May 2014 | QQUP vs SPUU | |
| Leverage Shares 2X Long CRML Daily ETF | 0.75% | 1.93M | Feb 2026 | QQUP vs CRMU | |
| Leverage Shares 2X Long CBRS Daily ETF | 0.75% | 72.66M | May 2026 | QQUP vs CBRG |
Best Risk-Adjusted Alternatives to QQUP
QQUP has a PortfoliosLab risk / return rank of 26. There are 95 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 98 | 6.16B | Oct 2024 | QQUP vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 98 | 923.53M | Nov 2024 | QQUP vs MULL | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.82M | Apr 2021 | QQUP vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 97 | 20.50M | Apr 2021 | QQUP vs QTAP | |
| GraniteShares 2x Long INTC Daily ETF | 96 | 509.42M | Feb 2025 | QQUP vs INTW |
Top Performing QQUP Alternatives (YTD)
QQUP is at 6.08% YTD. There are 144 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 589.77%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long DELL Daily ETF | 589.77% | 162.40M | Feb 2025 | QQUP vs DLLL | |
| Direxion Daily MU Bull 2X Shares | 449.17% | 6.16B | Oct 2024 | QQUP vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 436.29% | 923.53M | Nov 2024 | QQUP vs MULL | |
| GraniteShares 2x Long INTC Daily ETF | 332.72% | 509.42M | Feb 2025 | QQUP vs INTW | |
| Direxion Daily INTC Bull 2X Shares | 332.54% | 101.49M | Nov 2025 | QQUP vs LINT |
Lowest Volatility Alternatives to QQUP
QQUP has 40.69% 1-year volatility. There are 81 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.77%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.77% | 22.82M | Apr 2021 | QQUP vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 6.23% | 20.50M | Apr 2021 | QQUP vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.40% | 13.45M | Jul 2021 | QQUP vs XTJL | |
| Innovator US Equity Accelerated ETF | 10.55% | 69.49M | Apr 2021 | QQUP vs XDSQ | |
| Innovator Growth Accelerated Plus ETF - July | 10.63% | 20.95M | Jul 2021 | QQUP vs QTJL |
Lowest Drawdown Alternatives to QQUP
QQUP has a 1-year max drawdown of -37.67%. There are 101 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.72%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.72% | 22.82M | Apr 2021 | QQUP vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -2.49% | 20.50M | Apr 2021 | QQUP vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.45M | Jul 2021 | QQUP vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 20.95M | Jul 2021 | QQUP vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 69.49M | Apr 2021 | QQUP vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, QLD, BITO and span 10 categories. AUM among these funds goes as high as $37B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 41 | 34.71% | 37.04B | Feb 2010 | QQUP vs TQQQ | |
| ProShares Ultra QQQ | Leveraged Equities | 44 | 25.90% | 14.15B | Jun 2006 | QQUP vs QLD | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 1 | -27.77% | 1.45B | Oct 2021 | QQUP vs BITO | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 51 | 24.61% | 5.47B | Jun 2009 | QQUP vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 54 | 17.80% | 8.13B | Jun 2006 | QQUP vs SSO | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 60 | 63.25% | 2.97B | Jan 2007 | QQUP vs USD | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 40 | 11.29% | 11.63B | Oct 2013 | QQUP vs NOBL | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -38.86% | 2.09B | Feb 2010 | QQUP vs SQQQ | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 48 | 12.64% | 410.75M | Mar 2024 | QQUP vs IQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -34.93% | 216.19M | Oct 2011 | QQUP vs UVXY |
Often Compared With QQUP
Investors most often compare QQUP with QQQU, QQQ, GDE. These 19 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare QQUP with Any Fund or Stock
Compare QQUP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair QQUP with funds that move differently
ProShares Ultra QQQ Mega alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to QQUP.
Explore QQUP Diversifiers