QLDY vs. TQQQ

Last updated Jun 4, 2026

QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - QLDY is a Nasdaq-100 fund actively managed by Defiance, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). QLDY is actively managed, while TQQQ is passively managed. With a 0.98 correlation, they move nearly in lockstep. QLDY charges 1.04%/yr vs 0.95%/yr for TQQQ.

Performance

QLDY vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLDY achieves a 19.28% return, which is significantly lower than TQQQ's 64.46% return.

QLDY

• 1D: 0.03%
• 1M: 11.63%
• YTD: 19.28%
• 6M: 16.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

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

QLDY vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	19.28%	1.50%
TQQQ ProShares UltraPro QQQ	64.46%	4.68%

Correlation

The correlation between QLDY and TQQQ is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 19, 2025	0.98

Return for Risk

QLDY vs. TQQQ — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

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.

QLDY vs. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QLDY	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.92	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.74	+0.86

Drawdowns

QLDY vs. TQQQ - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for QLDY and TQQQ.

Drawdown Indicators

	QLDY	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-81.66%	+64.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-36.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-58.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-81.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	0.00%	-0.76%	+0.76%
Average Drawdown Average peak-to-trough decline	-4.25%	-18.52%	+14.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.28%	—

Volatility

Volatility by Period

	QLDY	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.57%	47.60%	-28.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	66.53%	-46.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	65.96%	-46.39%

QLDY vs. TQQQ - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

QLDY vs. TQQQ - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 21.47%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLDY Defiance Nasdaq 100 LightningSpread Income ETF	21.47%	9.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.36%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both QLDY and TQQQ in my portfolio?

With a correlation of 0.98, QLDY and TQQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QLDY or TQQQ?

On fees, TQQQ is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QLDY or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 1.04% for QLDY.

Which ETF pays a higher dividend yield, QLDY or TQQQ?

QLDY has the higher dividend yield at 21.47%, compared with 0.36% for TQQQ.

What is the main difference between QLDY and TQQQ?

QLDY is categorized as Nasdaq-100, while TQQQ is Leveraged Equities. They also come from different issuers: Defiance and ProShares. Their fees differ too: 1.04% for QLDY and 0.95% for TQQQ.