QQQA vs. QLD
Compare and contrast key facts about ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and ProShares Ultra QQQ (QLD).
QQQA and QLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQA is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross. It was launched on May 18, 2021. 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. Both QQQA and QLD 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
QQQA vs. QLD - Performance Comparison
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QQQA vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF | 1.42% | 9.87% | 16.17% | 24.98% | -29.08% | 8.43% |
QLD ProShares Ultra QQQ | -13.35% | 30.36% | 42.82% | 117.72% | -60.52% | 43.95% |
Returns By Period
In the year-to-date period, QQQA achieves a 1.42% return, which is significantly higher than QLD's -13.35% return.
QQQA
- 1D
- 4.97%
- 1M
- -5.23%
- YTD
- 1.42%
- 6M
- 8.28%
- 1Y
- 24.06%
- 3Y*
- 16.37%
- 5Y*
- —
- 10Y*
- —
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%
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QQQA vs. QLD - Expense Ratio Comparison
QQQA has a 0.58% expense ratio, which is lower than QLD's 0.95% expense ratio.
Return for Risk
QQQA vs. QLD — Risk / Return Rank
QQQA
QLD
QQQA vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and ProShares Ultra QQQ (QLD). 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.
| QQQA | QLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.84 | 0.00 |
Sortino ratioReturn per unit of downside risk | 1.31 | 1.43 | -0.13 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.49 | +0.10 |
Martin ratioReturn relative to average drawdown | 5.51 | 4.88 | +0.63 |
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
| QQQA | QLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.84 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.53 | -0.35 |
Correlation
The correlation between QQQA and QLD is 0.88, 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
QQQA vs. QLD - Dividend Comparison
QQQA's dividend yield for the trailing twelve months is around 0.10%, less than QLD's 0.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF | 0.10% | 0.10% | 0.09% | 0.34% | 0.28% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Drawdowns
QQQA vs. QLD - Drawdown Comparison
The maximum QQQA drawdown since its inception was -38.44%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for QQQA and QLD.
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Drawdown Indicators
| QQQA | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.44% | -83.13% | +44.69% |
Max Drawdown (1Y)Largest decline over 1 year | -14.54% | -25.13% | +10.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.68% | — |
Current DrawdownCurrent decline from peak | -10.29% | -20.10% | +9.81% |
Average DrawdownAverage peak-to-trough decline | -16.19% | -18.30% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 7.67% | -3.48% |
Volatility
QQQA vs. QLD - Volatility Comparison
The current volatility for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) is 11.40%, while ProShares Ultra QQQ (QLD) has a volatility of 12.96%. This indicates that QQQA experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQA | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.40% | 12.96% | -1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 20.70% | 25.55% | -4.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.75% | 44.91% | -16.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.37% | 44.77% | -19.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.37% | 44.47% | -19.10% |