QLD vs. TQQQ
Compare and contrast key facts about ProShares Ultra QQQ (QLD) and ProShares UltraPro QQQ (TQQQ).
QLD and TQQQ 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. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both QLD and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QLD vs. TQQQ - Performance Comparison
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QLD vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | -13.35% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
TQQQ ProShares UltraPro QQQ | -20.81% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Returns By Period
In the year-to-date period, QLD achieves a -13.35% return, which is significantly higher than TQQQ's -20.81% return. Over the past 10 years, QLD has underperformed TQQQ with an annualized return of 29.40%, while TQQQ has yielded a comparatively higher 34.82% annualized return.
QLD
- 1D
- 6.72%
- 1M
- -10.26%
- YTD
- -13.35%
- 6M
- -11.03%
- 1Y
- 37.53%
- 3Y*
- 35.41%
- 5Y*
- 15.27%
- 10Y*
- 29.40%
TQQQ
- 1D
- 10.00%
- 1M
- -15.69%
- YTD
- -20.81%
- 6M
- -19.12%
- 1Y
- 46.49%
- 3Y*
- 45.09%
- 5Y*
- 12.72%
- 10Y*
- 34.82%
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QLD vs. TQQQ - Expense Ratio Comparison
Both QLD and TQQQ have an expense ratio of 0.95%.
Return for Risk
QLD vs. TQQQ — Risk / Return Rank
QLD
TQQQ
QLD vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.69 | +0.14 |
Sortino ratioReturn per unit of downside risk | 1.43 | 1.37 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.25 | +0.23 |
Martin ratioReturn relative to average drawdown | 4.88 | 3.87 | +1.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QLD | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.69 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.19 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.53 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.64 | -0.11 |
Correlation
The correlation between QLD and TQQQ is 1.00, 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. TQQQ - Dividend Comparison
QLD's dividend yield for the trailing twelve months is around 0.19%, less than TQQQ's 0.76% 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% |
TQQQ ProShares UltraPro QQQ | 0.76% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Drawdowns
QLD vs. TQQQ - Drawdown Comparison
The maximum QLD drawdown since its inception was -83.13%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for QLD and TQQQ.
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Drawdown Indicators
| QLD | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.13% | -81.66% | -1.47% |
Max Drawdown (1Y)Largest decline over 1 year | -25.13% | -36.97% | +11.84% |
Max Drawdown (5Y)Largest decline over 5 years | -63.68% | -81.66% | +17.98% |
Max Drawdown (10Y)Largest decline over 10 years | -63.68% | -81.66% | +17.98% |
Current DrawdownCurrent decline from peak | -20.10% | -30.66% | +10.56% |
Average DrawdownAverage peak-to-trough decline | -18.30% | -18.66% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.67% | 12.00% | -4.33% |
Volatility
QLD vs. TQQQ - Volatility Comparison
The current volatility for ProShares Ultra QQQ (QLD) is 12.96%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 19.43%. This indicates that QLD experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLD | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.96% | 19.43% | -6.47% |
Volatility (6M)Calculated over the trailing 6-month period | 25.55% | 38.32% | -12.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.91% | 67.26% | -22.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.77% | 66.55% | -21.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.47% | 65.83% | -21.36% |