QLD vs. AVDV

Last updated Jun 13, 2026

QLD (ProShares Ultra QQQ) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%), while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. QLD is passively managed, while AVDV is actively managed. Over the past 5 years, QLD returned 23.24%/yr vs 13.63%/yr for AVDV. A 0.59 correlation means they provide meaningful diversification when combined. QLD charges 0.95%/yr vs 0.36%/yr for AVDV.

Performance

QLD vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ (QLD) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLD achieves a 32.65% return, which is significantly higher than AVDV's 14.99% return.

QLD

• 1D: 1.30%
• 1M: 0.90%
• YTD: 32.65%
• 6M: 32.82%
• 1Y: 69.43%
• 3Y*: 44.57%
• 5Y*: 23.24%
• 10Y*: 35.67%

AVDV

• 1D: 0.89%
• 1M: -1.95%
• YTD: 14.99%
• 6M: 17.18%
• 1Y: 40.93%
• 3Y*: 26.72%
• 5Y*: 13.63%
• 10Y*: —

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

QLD vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QLD ProShares Ultra QQQ	32.65%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	24.29%
AVDV Avantis International Small Cap Value ETF	14.99%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	11.78%

Correlation

The correlation between QLD and AVDV is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.59

The correlation between QLD and AVDV has been stable across timeframes, ranging from 0.53 to 0.59 - a consistent structural relationship.

QLD vs. AVDV - Sectors Allocation Comparison

Sectors	QLD	AVDV
Technology	53.8%	6.4%
Communication Services	15.8%	2.0%
Consumer Cyclical	12.3%	14.4%
Consumer Defensive	7.7%	3.4%
Healthcare	4.2%	2.1%
Industrials	2.8%	21.3%
Utilities	1.4%	1.7%
Basic Materials	1.1%	22.5%
Energy	0.6%	10.8%
Financial Services	0.2%	13.7%
Real Estate	0.1%	1.1%

Return for Risk

QLD vs. AVDV — Risk / Return Rank

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

QLD

QLD Risk / Return Rank: 64
QLD Sharpe Ratio Rank: 73
QLD Sortino Ratio Rank: 61
QLD Omega Ratio Rank: 64
QLD Calmar Ratio Rank: 64
QLD Martin Ratio Rank: 61

AVDV

AVDV Risk / Return Rank: 81
AVDV Sharpe Ratio Rank: 88
AVDV Sortino Ratio Rank: 86
AVDV Omega Ratio Rank: 86
AVDV Calmar Ratio Rank: 71
AVDV Martin Ratio Rank: 76

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.

QLD vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) and Avantis International Small Cap Value ETF (AVDV). 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.

	QLD	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.53	-0.50
Sortino ratio: Return per unit of downside risk	2.48	3.36	-0.88
Omega ratio: Gain probability vs. loss probability	1.33	1.46	-0.12
Calmar ratio: Return relative to maximum drawdown	2.78	3.12	-0.34
Martin ratio: Return relative to average drawdown	9.46	12.44	-2.98

QLD vs. AVDV - Sharpe Ratio Comparison

The current QLD Sharpe Ratio is 2.04, which is comparable to the AVDV Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of QLD and AVDV, 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

QLD vs. AVDV - Drawdown Comparison

The maximum QLD drawdown since its inception was -83.13%, which is greater than AVDV's maximum drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for QLD and AVDV.

Drawdown Indicators

	QLD	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-83.13%	-43.01%	-40.12%
Max Drawdown (1Y) Largest decline over 1 year	-25.13%	-13.19%	-11.94%
Max Drawdown (3Y) Largest decline over 3 years	-42.29%	-14.17%	-28.12%
Max Drawdown (5Y) Largest decline over 5 years	-63.68%	-28.08%	-35.60%
Max Drawdown (10Y) Largest decline over 10 years	-63.68%	—	—
Current Drawdown Current decline from peak	-7.11%	-2.24%	-4.87%
Average Drawdown Average peak-to-trough decline	-18.16%	-6.76%	-11.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.36%	3.30%	+4.06%

Volatility

QLD vs. AVDV - Volatility Comparison

ProShares Ultra QQQ (QLD) has a higher volatility of 15.14% compared to Avantis International Small Cap Value ETF (AVDV) at 6.26%. This indicates that QLD's price experiences larger fluctuations and is considered to be riskier than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLD	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.14%	6.26%	+8.88%
Volatility (6M) Calculated over the trailing 6-month period	27.51%	13.88%	+13.63%
Volatility (1Y) Calculated over the trailing 1-year period	34.29%	16.25%	+18.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.07%	17.41%	+27.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.73%	19.77%	+24.96%

QLD vs. AVDV - Expense Ratio Comparison

QLD has a 0.95% expense ratio, which is higher than AVDV's 0.36% expense ratio.

Dividends

QLD vs. AVDV - Dividend Comparison

QLD's dividend yield for the trailing twelve months is around 0.13%, less than AVDV's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDV Avantis International Small Cap Value ETF	4.11%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	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 QLD and AVDV in my portfolio?

QLD and AVDV have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QLD or AVDV?

QLD has higher volatility (15.14%) compared to AVDV (6.26%). In terms of maximum drawdown, QLD dropped -83.13% vs AVDV's -43.01%.

Which ETF is better, QLD or AVDV?

On 5-year performance, QLD leads with 23.24% vs 13.63% for AVDV. On fees, AVDV is cheaper at 0.36% per year. On volatility, AVDV has been the lower-risk option at 6.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLD or AVDV?

Over the 5-year period, QLD has performed better with a 23.24% return vs 13.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLD or AVDV?

AVDV is cheaper with a 0.36% expense ratio, compared with 0.95% for QLD.

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

AVDV has the higher dividend yield at 4.11%, compared with 0.13% for QLD.

What is the main difference between QLD and AVDV?

QLD is categorized as Leveraged Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: ProShares and Avantis. Their fees differ too: 0.95% for QLD and 0.36% for AVDV.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.53 vs 2.04), 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.