NIOG vs. QLD

Last updated Jun 24, 2026

NIOG (Leverage Shares 2X Long NIO Daily ETF) and QLD (ProShares Ultra QQQ) are both Leveraged Equities funds - NIOG tracks the NIO Inc. (NIO) while QLD tracks the NASDAQ-100 Index (200%). Both are passively managed. At a 0.23 correlation, their price movements are largely independent. NIOG charges 0.75%/yr vs 0.95%/yr for QLD.

Performance

NIOG vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long NIO Daily ETF (NIOG) 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, NIOG achieves a -19.49% return, which is significantly lower than QLD's 29.58% return.

NIOG

• 1D: 0.63%
• 1M: -7.97%
• YTD: -19.49%
• 6M: -13.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QLD

• 1D: -6.61%
• 1M: -2.02%
• YTD: 29.58%
• 6M: 26.13%
• 1Y: 66.80%
• 3Y*: 43.61%
• 5Y*: 21.41%
• 10Y*: 36.27%

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

NIOG vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025
NIOG Leverage Shares 2X Long NIO Daily ETF	-19.49%	3.25%
QLD ProShares Ultra QQQ	29.58%	4.68%

Correlation

The correlation between NIOG and QLD is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.23

Return for Risk

NIOG vs. QLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NIOG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QLD

QLD Risk / Return Rank: 53
QLD Sharpe Ratio Rank: 58
QLD Sortino Ratio Rank: 49
QLD Omega Ratio Rank: 51
QLD Calmar Ratio Rank: 56
QLD Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NIOG vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long NIO Daily ETF (NIOG) 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.

	NIOG	QLD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.88	—
Sortino ratio: Return per unit of downside risk	—	2.33	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.67	—
Martin ratio: Return relative to average drawdown	—	9.05	—

Drawdowns

NIOG vs. QLD - Drawdown Comparison

The maximum NIOG drawdown since its inception was -50.60%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for NIOG and QLD.

Drawdown Indicators

	NIOG	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-50.60%	-83.13%	+32.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.13%	—
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	-49.56%	-9.26%	-40.30%
Average Drawdown Average peak-to-trough decline	-22.25%	-18.14%	-4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.40%	—

Volatility

Volatility by Period

	NIOG	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.95%	—
Volatility (1Y) Calculated over the trailing 1-year period	115.70%	35.77%	+79.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.70%	45.34%	+70.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.70%	44.80%	+70.90%

NIOG vs. QLD - Expense Ratio Comparison

NIOG has a 0.75% expense ratio, which is lower than QLD's 0.95% expense ratio.

Dividends

NIOG vs. QLD - Dividend Comparison

NIOG has not paid dividends to shareholders, while QLD's dividend yield for the trailing twelve months is around 0.13%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NIOG Leverage Shares 2X Long NIO Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLD ProShares Ultra QQQ	0.13%	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 NIOG and QLD in my portfolio?

NIOG and QLD have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIOG or QLD?

On fees, NIOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NIOG or QLD?

NIOG is cheaper with a 0.75% expense ratio, compared with 0.95% for QLD.

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

QLD has the higher dividend yield at 0.13%, compared with 0.00% for NIOG.

What is the main difference between NIOG and QLD?

NIOG tracks NIO Inc. (NIO), while QLD tracks NASDAQ-100 Index (200%). They also come from different issuers: Leverage Shares and ProShares. Their fees differ too: 0.75% for NIOG and 0.95% for QLD.