QQUP vs. MSOX

Last updated Jun 24, 2026

QQUP (ProShares Ultra Top QQQ) and MSOX (Advisorshares Msos 2x Daily ETF) are both Leveraged Equities funds. QQUP is passively managed, while MSOX is actively managed. Over the past year, QQUP returned 38.57% vs 24.07% for MSOX. At a 0.22 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

QQUP vs. MSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Top QQQ (QQUP) and Advisorshares Msos 2x Daily ETF (MSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQUP achieves a -3.91% return, which is significantly higher than MSOX's -40.18% return.

QQUP

• 1D: -3.22%
• 1M: -16.85%
• YTD: -3.91%
• 6M: -6.57%
• 1Y: 38.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSOX

• 1D: -8.53%
• 1M: -2.55%
• YTD: -40.18%
• 6M: -40.18%
• 1Y: 24.07%
• 3Y*: -65.45%
• 5Y*: —
• 10Y*: —

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

QQUP vs. MSOX - Yearly Performance Comparison

	2026 (YTD)	2025
QQUP ProShares Ultra Top QQQ	-3.91%	45.33%
MSOX Advisorshares Msos 2x Daily ETF	-40.18%	76.38%

Correlation

The correlation between QQUP and MSOX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.22

Return for Risk

QQUP vs. MSOX — Risk / Return Rank

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

QQUP

QQUP Risk / Return Rank: 26
QQUP Sharpe Ratio Rank: 28
QQUP Sortino Ratio Rank: 28
QQUP Omega Ratio Rank: 27
QQUP Calmar Ratio Rank: 23
QQUP Martin Ratio Rank: 23

MSOX

MSOX Risk / Return Rank: 22
MSOX Sharpe Ratio Rank: 10
MSOX Sortino Ratio Rank: 41
MSOX Omega Ratio Rank: 36
MSOX Calmar Ratio Rank: 12
MSOX Martin Ratio Rank: 11

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.

QQUP vs. MSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Top QQQ (QQUP) and Advisorshares Msos 2x Daily ETF (MSOX). 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.

	QQUP	MSOX	Difference
Sharpe ratio: Return per unit of total volatility	0.97	0.11	+0.86
Sortino ratio: Return per unit of downside risk	1.46	1.97	-0.51
Omega ratio: Gain probability vs. loss probability	1.18	1.23	-0.05
Calmar ratio: Return relative to maximum drawdown	1.03	0.28	+0.74
Martin ratio: Return relative to average drawdown	2.87	0.42	+2.45

QQUP vs. MSOX - Sharpe Ratio Comparison

The current QQUP Sharpe Ratio is 0.97, which is higher than the MSOX Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of QQUP and MSOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QQUP vs. MSOX - Drawdown Comparison

The maximum QQUP drawdown since its inception was -37.67%, smaller than the maximum MSOX drawdown of -99.75%. Use the drawdown chart below to compare losses from any high point for QQUP and MSOX.

Drawdown Indicators

	QQUP	MSOX	Difference
Max Drawdown Largest peak-to-trough decline	-37.67%	-99.75%	+62.08%
Max Drawdown (1Y) Largest decline over 1 year	-37.67%	-84.89%	+47.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-98.83%	—
Current Drawdown Current decline from peak	-21.46%	-99.60%	+78.14%
Average Drawdown Average peak-to-trough decline	-9.48%	-88.90%	+79.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.45%	57.15%	-43.70%

Volatility

QQUP vs. MSOX - Volatility Comparison

The current volatility for ProShares Ultra Top QQQ (QQUP) is 14.01%, while Advisorshares Msos 2x Daily ETF (MSOX) has a volatility of 42.47%. This indicates that QQUP experiences smaller price fluctuations and is considered to be less risky than MSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQUP	MSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.01%	42.47%	-28.46%
Volatility (6M) Calculated over the trailing 6-month period	30.62%	113.33%	-82.71%
Volatility (1Y) Calculated over the trailing 1-year period	40.03%	220.65%	-180.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.79%	168.09%	-128.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.79%	168.09%	-128.30%

QQUP vs. MSOX - Expense Ratio Comparison

Both QQUP and MSOX have an expense ratio of 0.95%.

Dividends

QQUP vs. MSOX - Dividend Comparison

QQUP's dividend yield for the trailing twelve months is around 0.50%, while MSOX has not paid dividends to shareholders.

Position	TTM	2025
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%
QQUP ProShares Ultra Top QQQ	0.50%	0.29%

Frequently Asked Questions

Can I hold both QQUP and MSOX in my portfolio?

QQUP and MSOX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQUP or MSOX?

MSOX has higher volatility (42.47%) compared to QQUP (14.01%). In terms of maximum drawdown, QQUP dropped -37.67% vs MSOX's -99.75%.

Which ETF is better, QQUP or MSOX?

On 1-year performance, QQUP leads with 38.57% vs 24.07% for MSOX. Both ETFs have the same 0.95% expense ratio. On volatility, QQUP has been the lower-risk option at 14.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQUP or MSOX?

Over the 1-year period, QQUP has performed better with a 38.57% return vs 24.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQUP or MSOX?

QQUP and MSOX have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, QQUP or MSOX?

QQUP has the higher dividend yield at 0.50%, compared with 0.00% for MSOX.

What is the main difference between QQUP and MSOX?

They also come from different issuers: ProShares and AdvisorShares.

Which has better risk-adjusted returns?

QQUP currently has the higher Sharpe Ratio (0.97 vs 0.11), 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.