QBIG vs. QQUP

Last updated Jun 5, 2026

QBIG (Invesco Top QQQ ETF) and QQUP (ProShares Ultra Top QQQ) are both exchange-traded funds - QBIG is a Large Cap Blend Equities fund actively managed by Invesco, while QQUP is a Leveraged Equities fund tracking the Nasdaq-100 Mega Index (200%). QBIG is actively managed, while QQUP is passively managed. With a 0.98 correlation, they move nearly in lockstep. QBIG charges 0.29%/yr vs 0.95%/yr for QQUP.

Performance

QBIG vs. QQUP - Performance Comparison

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

Returns By Period

In the year-to-date period, QBIG achieves a 8.86% return, which is significantly lower than QQUP's 14.60% return.

QBIG

• 1D: 0.06%
• 1M: 3.57%
• YTD: 8.86%
• 6M: 6.25%
• 1Y: 35.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQUP

• 1D: 0.09%
• 1M: 6.27%
• YTD: 14.60%
• 6M: 8.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QBIG vs. QQUP - Yearly Performance Comparison

	2026 (YTD)	2025
QBIG Invesco Top QQQ ETF	8.86%	23.29%
QQUP ProShares Ultra Top QQQ	14.60%	44.45%

Correlation

The correlation between QBIG and QQUP is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.98

Return for Risk

QBIG vs. QQUP — Risk / Return Rank

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

QBIG

QBIG Risk / Return Rank: 46
QBIG Sharpe Ratio Rank: 55
QBIG Sortino Ratio Rank: 51
QBIG Omega Ratio Rank: 50
QBIG Calmar Ratio Rank: 37
QBIG Martin Ratio Rank: 37

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.

QBIG vs. QQUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Top QQQ ETF (QBIG) and ProShares Ultra Top QQQ (QQUP). 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.

	QBIG	QQUP	Difference
Sharpe ratio: Return per unit of total volatility	1.84	—	—
Sortino ratio: Return per unit of downside risk	2.45	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	1.81	—	—
Martin ratio: Return relative to average drawdown	5.66	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QBIG	QQUP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	1.77	-0.92

Drawdowns

QBIG vs. QQUP - Drawdown Comparison

The maximum QBIG drawdown since its inception was -30.33%, smaller than the maximum QQUP drawdown of -37.67%. Use the drawdown chart below to compare losses from any high point for QBIG and QQUP.

Drawdown Indicators

	QBIG	QQUP	Difference
Max Drawdown Largest peak-to-trough decline	-30.33%	-37.67%	+7.34%
Max Drawdown (1Y) Largest decline over 1 year	-19.70%	—	—
Current Drawdown Current decline from peak	-3.28%	-6.33%	+3.05%
Average Drawdown Average peak-to-trough decline	-7.01%	-9.18%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.30%	—	—

Volatility

Volatility by Period

	QBIG	QQUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	38.44%	-19.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.28%	38.44%	-11.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.28%	38.44%	-11.16%

QBIG vs. QQUP - Expense Ratio Comparison

QBIG has a 0.29% expense ratio, which is lower than QQUP's 0.95% expense ratio.

Dividends

QBIG vs. QQUP - Dividend Comparison

QBIG has not paid dividends to shareholders, while QQUP's dividend yield for the trailing twelve months is around 0.42%.

Position	TTM	2025
QBIG Invesco Top QQQ ETF	0.00%	0.00%
QQUP ProShares Ultra Top QQQ	0.42%	0.29%

Frequently Asked Questions

Can I hold both QBIG and QQUP in my portfolio?

With a correlation of 0.98, QBIG and QQUP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QBIG or QQUP?

On fees, QBIG is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QBIG or QQUP?

QBIG is cheaper with a 0.29% expense ratio, compared with 0.95% for QQUP.

Which ETF pays a higher dividend yield, QBIG or QQUP?

QQUP has the higher dividend yield at 0.42%, compared with 0.00% for QBIG.

What is the main difference between QBIG and QQUP?

QBIG is categorized as Large Cap Blend Equities, while QQUP is Leveraged Equities. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.29% for QBIG and 0.95% for QQUP.