QLD vs. MAGX

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Ultra QQQ (QLD) and Roundhill Daily 2X Long Magnificent Seven ETF (MAGX).

QLD and MAGX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006. MAGX is an actively managed fund by Roundhill. It was launched on Feb 28, 2024.

Performance

QLD vs. MAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ (QLD) and Roundhill Daily 2X Long Magnificent Seven ETF (MAGX). The values are adjusted to include any dividend payments, if applicable.

QLD vs. MAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QLD ProShares Ultra QQQ	-11.23%	30.36%	26.15%
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	-23.25%	26.16%	81.14%

Returns By Period

In the year-to-date period, QLD achieves a -11.23% return, which is significantly higher than MAGX's -23.25% return.

QLD

• 1D: 2.44%
• 1M: -8.26%
• YTD: -11.23%
• 6M: -9.73%
• 1Y: 38.72%
• 3Y*: 36.50%
• 5Y*: 15.83%
• 10Y*: 29.71%

MAGX

• 1D: 2.69%
• 1M: -10.34%
• YTD: -23.25%
• 6M: -21.67%
• 1Y: 37.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLD vs. MAGX - Expense Ratio Comparison

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

QLD

ProShares Ultra QQQ

MAGX

Roundhill Daily 2X Long Magnificent Seven ETF

Return for Risk

QLD vs. MAGX — Risk / Return Rank

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

QLD

QLD Risk / Return Rank: 53
QLD Sharpe Ratio Rank: 45
QLD Sortino Ratio Rank: 54
QLD Omega Ratio Rank: 53
QLD Calmar Ratio Rank: 62
QLD Martin Ratio Rank: 52

MAGX

MAGX Risk / Return Rank: 41
MAGX Sharpe Ratio Rank: 34
MAGX Sortino Ratio Rank: 46
MAGX Omega Ratio Rank: 42
MAGX Calmar Ratio Rank: 43
MAGX Martin Ratio Rank: 38

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. MAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) and Roundhill Daily 2X Long Magnificent Seven ETF (MAGX). 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.

	QLD	MAGX	Difference
Sharpe ratio Return per unit of total volatility	0.87	0.67	+0.20
Sortino ratio Return per unit of downside risk	1.46	1.33	+0.13
Omega ratio Gain probability vs. loss probability	1.21	1.18	+0.03
Calmar ratio Return relative to maximum drawdown	1.63	1.16	+0.47
Martin ratio Return relative to average drawdown	5.27	3.66	+1.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QLD vs. MAGX - Sharpe Ratio Comparison

The current QLD Sharpe Ratio is 0.87, which is comparable to the MAGX Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of QLD and MAGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QLD	MAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	0.67	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.57	-0.04

Correlation

The correlation between QLD and MAGX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QLD vs. MAGX - Dividend Comparison

QLD's dividend yield for the trailing twelve months is around 0.19%, less than MAGX's 2.67% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLD ProShares Ultra QQQ	0.19%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.67%	2.05%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

QLD vs. MAGX - Drawdown Comparison

The maximum QLD drawdown since its inception was -83.13%, which is greater than MAGX's maximum drawdown of -54.19%. Use the drawdown chart below to compare losses from any high point for QLD and MAGX.

Drawdown Indicators

	QLD	MAGX	Difference
Max Drawdown Largest peak-to-trough decline	-83.13%	-54.19%	-28.94%
Max Drawdown (1Y) Largest decline over 1 year	-25.13%	-37.24%	+12.11%
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	-18.15%	-29.46%	+11.31%
Average Drawdown Average peak-to-trough decline	-18.30%	-14.08%	-4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.75%	11.80%	-4.05%

Volatility

QLD vs. MAGX - Volatility Comparison

The current volatility for ProShares Ultra QQQ (QLD) is 13.16%, while Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a volatility of 16.99%. This indicates that QLD experiences smaller price fluctuations and is considered to be less risky than MAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLD	MAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.16%	16.99%	-3.83%
Volatility (6M) Calculated over the trailing 6-month period	25.67%	31.00%	-5.33%
Volatility (1Y) Calculated over the trailing 1-year period	44.97%	57.15%	-12.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.76%	54.60%	-9.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.47%	54.60%	-10.13%