QLD vs. URE
QLD (ProShares Ultra QQQ) and URE (ProShares Ultra Real Estate) are both exchange-traded funds - QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%), while URE is a REIT fund tracking the Dow Jones U.S. Real Estate Index (200%). Both are passively managed. Over the past 10 years, QLD returned 35.67%/yr vs 3.72%/yr for URE. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
QLD vs. URE - Performance Comparison
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Returns By Period
In the year-to-date period, QLD achieves a 32.65% return, which is significantly higher than URE's 23.42% return. Over the past 10 years, QLD has outperformed URE with an annualized return of 35.67%, while URE has yielded a comparatively lower 3.72% annualized return.
QLD
- 1D
- 1.30%
- 1M
- 2.58%
- YTD
- 32.65%
- 6M
- 32.82%
- 1Y
- 73.89%
- 3Y*
- 44.57%
- 5Y*
- 23.24%
- 10Y*
- 35.67%
URE
- 1D
- 1.83%
- 1M
- 9.50%
- YTD
- 23.42%
- 6M
- 23.42%
- 1Y
- 16.45%
- 3Y*
- 10.96%
- 5Y*
- -3.33%
- 10Y*
- 3.72%
QLD vs. URE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 32.65% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
URE ProShares Ultra Real Estate | 23.42% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | -28.06% | 57.86% | -13.80% | 16.56% |
Correlation
The correlation between QLD and URE is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | 0.54 |
Over the past year, the correlation between QLD and URE has dropped to 0.11 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
QLD vs. URE — Risk / Return Rank
QLD
URE
QLD vs. URE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) and ProShares Ultra Real Estate (URE). 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 | URE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.51 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.11 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 0.87 | +1.91 |
| Martin ratioReturn relative to average drawdown | 9.46 | 2.09 | +7.37 |
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Drawdowns
QLD vs. URE - Drawdown Comparison
The maximum QLD drawdown since its inception was -83.13%, smaller than the maximum URE drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for QLD and URE.
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Drawdown Indicators
| QLD | URE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.13% | -97.16% | +14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -25.13% | -16.50% | -8.63% |
Max Drawdown (3Y)Largest decline over 3 years | -42.29% | -33.77% | -8.52% |
Max Drawdown (5Y)Largest decline over 5 years | -63.68% | -63.66% | -0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -63.68% | -70.49% | +6.81% |
Current DrawdownCurrent decline from peak | -7.11% | -48.75% | +41.64% |
Average DrawdownAverage peak-to-trough decline | -18.16% | -64.49% | +46.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.36% | 6.83% | +0.53% |
Volatility
QLD vs. URE - Volatility Comparison
ProShares Ultra QQQ (QLD) has a higher volatility of 15.14% compared to ProShares Ultra Real Estate (URE) at 9.54%. This indicates that QLD's price experiences larger fluctuations and is considered to be riskier than URE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLD | URE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.14% | 9.54% | +5.60% |
Volatility (6M)Calculated over the trailing 6-month period | 27.51% | 20.35% | +7.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.29% | 27.52% | +6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.07% | 37.38% | +7.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.73% | 40.58% | +4.15% |
QLD vs. URE - Expense Ratio Comparison
Both QLD and URE have an expense ratio of 0.95%.
Dividends
QLD vs. URE - Dividend Comparison
QLD's dividend yield for the trailing twelve months is around 0.13%, less than URE's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
URE ProShares Ultra Real Estate | 1.90% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
Frequently Asked Questions
QLD and URE have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (15.14%) compared to URE (9.54%). In terms of maximum drawdown, QLD dropped -83.13% vs URE's -97.16%.
On 10-year performance, QLD leads with 35.67% vs 3.72% for URE. Both ETFs have the same 0.95% expense ratio. On volatility, URE has been the lower-risk option at 9.54%. 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 35.67% return vs 3.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QLD and URE have the same expense ratio: 0.95% per year.
URE has the higher dividend yield at 1.90%, compared with 0.13% for QLD.
QLD is categorized as Leveraged Equities, while URE is REIT. QLD tracks NASDAQ-100 Index (200%), while URE tracks Dow Jones U.S. Real Estate Index (200%).
QLD currently has the higher Sharpe Ratio (2.04 vs 0.52), 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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