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QLD vs. HDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QLD vs. HDV

Last updated Aug 6, 2026
Documentation

QLD (ProShares Ultra QQQ) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%), while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, QLD returned 33.23%/yr vs 9.57%/yr for HDV. Their 0.50 correlation means their historical movements had little consistent relationship. QLD charges 0.95%/yr vs 0.08%/yr for HDV.

Performance

QLD vs. HDV - Performance Comparison

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

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Returns By Period

In the year-to-date period, QLD achieves a 29.07% return, which is significantly higher than HDV's 19.66% return. Over the past 10 years, QLD has outperformed HDV with an annualized return of 33.23%, while HDV has yielded a comparatively lower 9.57% annualized return.

QLD

1D
-1.80%
1M
-2.51%
6M
33.69%
YTD
29.07%
1Y
50.92%
3Y*
41.48%
5Y*
18.95%
10Y*
33.23%
ALL TIME*
25.17%

HDV

1D
-0.24%
1M
3.72%
6M
7.30%
YTD
19.66%
1Y
24.30%
3Y*
15.80%
5Y*
12.00%
10Y*
9.57%
ALL TIME*
10.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HDV

iShares Core High Dividend ETF
$205.70M$171.89M$116.16M

QLD

ProShares Ultra QQQ
$462.32M$402.26M$438.76M

QLD vs. HDV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QLD
ProShares Ultra QQQ		29.07%30.36%42.82%117.72%-60.52%54.67%88.90%81.69%-8.31%70.34%
HDV
iShares Core High Dividend ETF		19.66%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%

Correlation

The correlation between QLD and HDV is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.21

Correlation (3Y)
Balances recent behavior with more history.

0.07

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.29

Correlation (10Y)
Provides a long-term view across more market conditions.

0.40

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.50

The correlation between QLD and HDV shifts across timeframes, from -0.21 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

QLD vs. HDV - Sectors Allocation Comparison

Sectors
QLD
HDV

Technology

60.9%
0.9%

Communication Services

13.1%
5.2%

Consumer Cyclical

10.7%
9.3%

Consumer Defensive

6.3%
24.3%

Healthcare

3.6%
23.9%

Industrials

2.7%
2.8%

Utilities

1.1%
8.2%

Basic Materials

1.0%
0.8%

Energy

0.5%
19.8%

Financial Services

0.2%
4.7%

Real Estate

0.1%

-

Technology

QLD
60.9%
HDV
0.9%

Communication Services

QLD
13.1%
HDV
5.2%

Consumer Cyclical

QLD
10.7%
HDV
9.3%

Consumer Defensive

QLD
6.3%
HDV
24.3%

Healthcare

QLD
3.6%
HDV
23.9%

Industrials

QLD
2.7%
HDV
2.8%

Utilities

QLD
1.1%
HDV
8.2%

Basic Materials

QLD
1.0%
HDV
0.8%

Energy

QLD
0.5%
HDV
19.8%

Financial Services

QLD
0.2%
HDV
4.7%

Real Estate

QLD
0.1%
HDV

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Ultra QQQ

iShares Core High Dividend ETF

Often compared with QLD:
QLD vs. QQQQLD vs. TQQQQLD vs. SSOQLD vs. QQQMQLD vs. UPROQLD vs. VOOQLD vs. SPY
Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY

Return for Risk

QLD vs. HDV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
QLD
QLD Risk / Return Rank: 4646
Overall Rank
QLD Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
QLD Sortino Ratio Rank: 4444
Sortino Ratio Rank
QLD Omega Ratio Rank: 4343
Omega Ratio Rank
QLD Calmar Ratio Rank: 5050
Calmar Ratio Rank
QLD Martin Ratio Rank: 4747
Martin Ratio Rank
HDV
HDV Risk / Return Rank: 8787
Overall Rank
HDV Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 9090
Sortino Ratio Rank
HDV Omega Ratio Rank: 8484
Omega Ratio Rank
HDV Calmar Ratio Rank: 9292
Calmar Ratio Rank
HDV Martin Ratio Rank: 8484
Martin Ratio Rank
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.

QLD vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) and iShares Core High Dividend ETF (HDV). 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.

QLDHDVDifference
Sharpe ratioReturn per unit of total volatility
1.31
2.26

-0.95

Sortino ratioReturn per unit of downside risk
1.84
3.41

-1.58

Omega ratioGain probability vs. loss probability

1.23

1.40

-0.17

Calmar ratioReturn relative to maximum drawdown

2.04

4.71

-2.68

Martin ratioReturn relative to average drawdown

5.97

12.85

-6.88

QLD vs. HDV - Sharpe Ratio Comparison

The current QLD Sharpe Ratio is 1.31, which is lower than the HDV Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of QLD and HDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

QLD vs. HDV - Drawdown Comparison

The maximum QLD drawdown since its inception was -83.13%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for QLD and HDV.

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Drawdown Indicators

QLDHDVDifference

Max Drawdown

Largest peak-to-trough decline

-83.13%

-37.04%

-46.09%

Max Drawdown (1Y)

Largest decline over 1 year

-25.13%

-5.18%

-19.95%

Max Drawdown (3Y)

Largest decline over 3 years

-42.29%

-10.49%

-31.80%

Max Drawdown (5Y)

Largest decline over 5 years

-63.68%

-15.42%

-48.26%

Max Drawdown (10Y)

Largest decline over 10 years

-63.68%

-37.04%

-26.64%

Current Drawdown

Current decline from peak

-9.62%

-1.72%

-7.90%

Average Drawdown

Average peak-to-trough decline

-18.10%

-3.06%

-15.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.55%

1.90%

+6.65%

Volatility

QLD vs. HDV - Volatility Comparison

ProShares Ultra QQQ (QLD) has a higher volatility of 14.78% compared to iShares Core High Dividend ETF (HDV) at 4.12%. This indicates that QLD's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QLDHDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.78%

4.12%

+10.66%

Volatility (6M)

Calculated over the trailing 6-month period

32.55%

8.54%

+24.01%

Volatility (1Y)

Calculated over the trailing 1-year period

38.97%

10.80%

+28.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

45.90%

12.94%

+32.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

45.04%

15.78%

+29.26%

QLD vs. HDV - Expense Ratio Comparison

QLD has a 0.95% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

QLD vs. HDV - Dividend Comparison

QLD's dividend yield for the trailing twelve months is around 0.13%, less than HDV's 3.08% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		3.08%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
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

QLD and HDV have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QLD has higher volatility (14.78%) compared to HDV (4.12%). In terms of maximum drawdown, QLD dropped -83.13% vs HDV's -37.04%.

On 10-year performance, QLD leads with 33.23% vs 9.57% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QLD has performed better with a 33.23% return vs 9.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.95% for QLD.

HDV has the higher dividend yield at 3.08%, compared with 0.13% for QLD.

QLD is categorized as Leveraged Equities, while HDV is Dividend. QLD tracks NASDAQ-100 Index (200%), while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for QLD and 0.08% for HDV.

HDV currently has the higher Sharpe Ratio (2.26 vs 1.31), 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.

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