QQUP vs. OKTG

Last updated Jul 18, 2026

QQUP (ProShares Ultra QQQ Mega) and OKTG (Leverage Shares 2X Long OKTA Daily ETF) are both Leveraged Equities funds. QQUP is passively managed, while OKTG is actively managed. At a 0.30 correlation, their price movements are largely independent. QQUP charges 0.95%/yr vs 0.75%/yr for OKTG.

Performance

QQUP vs. OKTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ Mega (QQUP) and Leverage Shares 2X Long OKTA Daily ETF (OKTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQUP achieves a 3.18% return, which is significantly lower than OKTG's 116.46% return.

QQUP

• 1D: -2.73%
• 1M: 2.47%
• 6M: 5.22%
• YTD: 3.18%
• 1Y: 28.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OKTG

• 1D: 2.65%
• 1M: 68.32%
• 6M: 104.61%
• YTD: 116.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQUP vs. OKTG - Yearly Performance Comparison

	2026 (YTD)	2025
QQUP ProShares Ultra QQQ Mega	3.18%	-1.89%
OKTG Leverage Shares 2X Long OKTA Daily ETF	116.46%	5.90%

Correlation

The correlation between QQUP and OKTG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.30

Return for Risk

QQUP vs. OKTG — Risk / Return Rank

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

QQUP

QQUP Risk / Return Rank: 23
QQUP Sharpe Ratio Rank: 24
QQUP Sortino Ratio Rank: 25
QQUP Omega Ratio Rank: 25
QQUP Calmar Ratio Rank: 21
QQUP Martin Ratio Rank: 22

OKTG

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

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. OKTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Mega (QQUP) and Leverage Shares 2X Long OKTA Daily ETF (OKTG). 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	OKTG	Difference
Sharpe ratio: Return per unit of total volatility	0.70	—	—
Sortino ratio: Return per unit of downside risk	1.16	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	0.76	—	—
Martin ratio: Return relative to average drawdown	1.99	—	—

Drawdowns

QQUP vs. OKTG - Drawdown Comparison

The maximum QQUP drawdown since its inception was -37.67%, smaller than the maximum OKTG drawdown of -60.69%. Use the drawdown chart below to compare losses from any high point for QQUP and OKTG.

Drawdown Indicators

	QQUP	OKTG	Difference
Max Drawdown Largest peak-to-trough decline	-37.67%	-60.69%	+23.02%
Max Drawdown (1Y) Largest decline over 1 year	-37.67%	—	—
Current Drawdown Current decline from peak	-15.66%	-6.79%	-8.87%
Average Drawdown Average peak-to-trough decline	-10.00%	-22.68%	+12.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.27%	—	—

Volatility

Volatility by Period

	QQUP	OKTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	31.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	40.78%	132.74%	-91.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.89%	132.74%	-92.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.89%	132.74%	-92.85%

QQUP vs. OKTG - Expense Ratio Comparison

QQUP has a 0.95% expense ratio, which is higher than OKTG's 0.75% expense ratio.

Dividends

QQUP vs. OKTG - Dividend Comparison

QQUP's dividend yield for the trailing twelve months is around 0.64%, while OKTG has not paid dividends to shareholders.

Position	TTM	2025
OKTG Leverage Shares 2X Long OKTA Daily ETF	0.00%	0.00%
QQUP ProShares Ultra QQQ Mega	0.64%	0.29%

Frequently Asked Questions

Can I hold both QQUP and OKTG in my portfolio?

QQUP and OKTG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQUP or OKTG?

On fees, OKTG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQUP or OKTG?

OKTG is cheaper with a 0.75% expense ratio, compared with 0.95% for QQUP.

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

QQUP has the higher dividend yield at 0.64%, compared with 0.00% for OKTG.

What is the main difference between QQUP and OKTG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for QQUP and 0.75% for OKTG.