QQUP vs. QQXL
Compare and contrast key facts about ProShares Ultra Top QQQ (QQUP) and ProShares Ultra QQQ Top 30 (QQXL).
QQUP and QQXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQUP is a passively managed fund by ProShares that tracks the performance of the Nasdaq-100 Mega Index (200%). It was launched on Jun 10, 2025. QQXL is an actively managed fund by ProShares. It was launched on Aug 13, 2025.
Performance
QQUP vs. QQXL - Performance Comparison
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QQUP vs. QQXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQUP ProShares Ultra Top QQQ | -21.45% | 11.64% |
QQXL ProShares Ultra QQQ Top 30 | -12.08% | 8.66% |
Returns By Period
In the year-to-date period, QQUP achieves a -21.45% return, which is significantly lower than QQXL's -12.08% return.
QQUP
- 1D
- 2.59%
- 1M
- -8.10%
- YTD
- -21.45%
- 6M
- -20.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQXL
- 1D
- 2.82%
- 1M
- -7.39%
- YTD
- -12.08%
- 6M
- -10.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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QQUP vs. QQXL - Expense Ratio Comparison
Both QQUP and QQXL have an expense ratio of 0.95%.
Return for Risk
QQUP vs. QQXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Top QQQ (QQUP) and ProShares Ultra QQQ Top 30 (QQXL). 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.
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Sharpe Ratios by Period
| QQUP | QQXL | Difference | |
|---|---|---|---|
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | -0.19 | +0.64 |
Correlation
The correlation between QQUP and QQXL is 0.93, 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
QQUP vs. QQXL - Dividend Comparison
QQUP's dividend yield for the trailing twelve months is around 0.61%, less than QQXL's 0.73% yield.
| TTM | 2025 | |
|---|---|---|
QQUP ProShares Ultra Top QQQ | 0.61% | 0.29% |
QQXL ProShares Ultra QQQ Top 30 | 0.73% | 0.08% |
Drawdowns
QQUP vs. QQXL - Drawdown Comparison
The maximum QQUP drawdown since its inception was -37.67%, which is greater than QQXL's maximum drawdown of -27.34%. Use the drawdown chart below to compare losses from any high point for QQUP and QQXL.
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Drawdown Indicators
| QQUP | QQXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.67% | -27.34% | -10.33% |
Current DrawdownCurrent decline from peak | -30.55% | -19.73% | -10.82% |
Average DrawdownAverage peak-to-trough decline | -9.16% | -7.69% | -1.47% |
Volatility
QQUP vs. QQXL - Volatility Comparison
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Volatility by Period
| QQUP | QQXL | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 38.72% | 36.70% | +2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.72% | 36.70% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.72% | 36.70% | +2.02% |