EETH vs. QLD

Last updated Aug 2, 2026

EETH (ProShares Ether Strategy ETF) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - EETH is a Cryptocurrency fund actively managed by ProShares, while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). EETH is actively managed, while QLD is passively managed. Over the past year, EETH returned -49.03% vs 42.18% for QLD. Their 0.43 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.

Performance

EETH vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EETH achieves a -38.56% return, which is significantly lower than QLD's 18.94% return.

EETH

• 1D: -2.86%
• 1M: 9.70%
• 6M: -31.24%
• YTD: -38.56%
• 1Y: -49.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -4.00%

QLD

• 1D: 1.20%
• 1M: -7.66%
• 6M: 16.78%
• YTD: 18.94%
• 1Y: 42.18%
• 3Y*: 35.01%
• 5Y*: 17.45%
• 10Y*: 32.56%
• ALL TIME*: 24.68%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EETH ProShares Ether Strategy ETF	$666.61K	$697.40K	$772.42K
QLD ProShares Ultra QQQ	$408.78M	$399.91M	$439.78M

EETH vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EETH ProShares Ether Strategy ETF	-38.56%	-17.19%	33.29%	31.40%
QLD ProShares Ultra QQQ	18.94%	30.36%	42.82%	28.19%

Correlation

The correlation between EETH and QLD is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.43

The correlation between EETH and QLD has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.

Return for Risk

EETH vs. QLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EETH

EETH Risk / Return Rank: 3
EETH Sharpe Ratio Rank: 3
EETH Sortino Ratio Rank: 3
EETH Omega Ratio Rank: 3
EETH Calmar Ratio Rank: 3
EETH Martin Ratio Rank: 4

QLD

QLD Risk / Return Rank: 39
QLD Sharpe Ratio Rank: 38
QLD Sortino Ratio Rank: 39
QLD Omega Ratio Rank: 38
QLD Calmar Ratio Rank: 41
QLD Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EETH vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) and ProShares Ultra QQQ (QLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EETH	QLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	0.95	-1.73
Sortino ratio: Return per unit of downside risk	-1.06	1.44	-2.50
Omega ratio: Gain probability vs. loss probability	0.88	1.18	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.76	1.46	-2.22
Martin ratio: Return relative to average drawdown	-1.12	4.32	-5.45

EETH vs. QLD - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.78, which is lower than the QLD Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of EETH and QLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EETH vs. QLD - Drawdown Comparison

The maximum EETH drawdown since its inception was -69.22%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for EETH and QLD.

Drawdown Indicators

	EETH	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-69.22%	-83.13%	+13.91%
Max Drawdown (1Y) Largest decline over 1 year	-69.22%	-25.13%	-44.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-42.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-63.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.68%	—
Current Drawdown Current decline from peak	-63.12%	-16.72%	-46.40%
Average Drawdown Average peak-to-trough decline	-31.48%	-18.11%	-13.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.54%	8.47%	+38.07%

Volatility

EETH vs. QLD - Volatility Comparison

ProShares Ether Strategy ETF (EETH) and ProShares Ultra QQQ (QLD) have volatilities of 13.16% and 13.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EETH	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.16%	13.69%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	45.92%	31.99%	+13.93%
Volatility (1Y) Calculated over the trailing 1-year period	67.62%	38.62%	+29.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.36%	45.76%	+22.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.36%	44.97%	+23.39%

EETH vs. QLD - Expense Ratio Comparison

Both EETH and QLD have an expense ratio of 0.95%.

Dividends

EETH vs. QLD - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 86.45%, more than QLD's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EETH ProShares Ether Strategy ETF	73.66%	56.98%	10.82%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLD ProShares Ultra QQQ	0.14%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%

Frequently Asked Questions

Can I hold both EETH and QLD in my portfolio?

EETH and QLD have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EETH or QLD?

QLD has higher volatility (13.69%) compared to EETH (13.16%). In terms of maximum drawdown, EETH dropped -69.22% vs QLD's -83.13%.

Which ETF is better, EETH or QLD?

On 1-year performance, QLD leads with 42.18% vs -49.03% for EETH. Both ETFs have the same 0.95% expense ratio. On volatility, EETH has been the lower-risk option at 13.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or QLD?

Over the 1-year period, QLD has performed better with a 42.18% return vs -49.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EETH or QLD?

EETH and QLD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, EETH or QLD?

EETH has the higher dividend yield at 73.66%, compared with 0.14% for QLD.

What is the main difference between EETH and QLD?

EETH is categorized as Cryptocurrency, while QLD is Leveraged Equities.

Which has better risk-adjusted returns?

QLD currently has the higher Sharpe Ratio (0.95 vs -0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.