QQUP vs. TERG

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra Top QQQ (QQUP) and Leverage Shares 2X Long TER Daily ETF (TERG).

QQUP and TERG 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. TERG is an actively managed fund by Leverage Shares. It was launched on Nov 17, 2025.

Performance

QQUP vs. TERG - Performance Comparison

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

QQUP vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
QQUP ProShares Ultra Top QQQ	-23.43%	-0.73%
TERG Leverage Shares 2X Long TER Daily ETF	102.79%	28.17%

Returns By Period

In the year-to-date period, QQUP achieves a -23.43% return, which is significantly lower than TERG's 102.79% return.

QQUP

• 1D: 8.61%
• 1M: -9.29%
• YTD: -23.43%
• 6M: -22.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TERG

• 1D: 14.40%
• 1M: -19.76%
• YTD: 102.79%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQUP vs. TERG - Expense Ratio Comparison

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

QQUP

ProShares Ultra Top QQQ

TERG

Leverage Shares 2X Long TER Daily ETF

Return for Risk

QQUP vs. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Top QQQ (QQUP) and Leverage Shares 2X Long TER Daily ETF (TERG). 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

	QQUP	TERG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	10.56	-10.21

Correlation

The correlation between QQUP and TERG is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QQUP vs. TERG - Dividend Comparison

QQUP's dividend yield for the trailing twelve months is around 0.63%, while TERG has not paid dividends to shareholders.

	TTM	2025
QQUP ProShares Ultra Top QQQ	0.63%	0.29%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%

Drawdowns

QQUP vs. TERG - Drawdown Comparison

The maximum QQUP drawdown since its inception was -37.67%, roughly equal to the maximum TERG drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for QQUP and TERG.

Drawdown Indicators

	QQUP	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-37.67%	-39.32%	+1.65%
Current Drawdown Current decline from peak	-32.30%	-30.58%	-1.72%
Average Drawdown Average peak-to-trough decline	-9.06%	-9.77%	+0.71%

Volatility

Volatility by Period

	QQUP	TERG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	38.71%	124.59%	-85.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.71%	124.59%	-85.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.71%	124.59%	-85.88%