QQXL vs. IQQQ
QQXL (ProShares Ultra QQQ Top 30) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - QQXL is a Leveraged Equities fund actively managed by ProShares, while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. QQXL is actively managed, while IQQQ is passively managed. With a 0.97 correlation, they move nearly in lockstep. QQXL charges 0.95%/yr vs 0.55%/yr for IQQQ.
Performance
QQXL vs. IQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, QQXL achieves a 23.10% return, which is significantly higher than IQQQ's 11.15% return.
QQXL
- 1D
- -2.68%
- 1M
- -7.40%
- 6M
- 21.02%
- YTD
- 23.10%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IQQQ
- 1D
- -1.32%
- 1M
- -3.16%
- 6M
- 9.97%
- YTD
- 11.15%
- 1Y
- 21.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQXL vs. IQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 23.10% | 9.00% |
IQQQ ProShares Nasdaq-100 High Income ETF | 11.15% | 6.32% |
Correlation
The correlation between QQXL and IQQQ is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 15, 2025 | 0.97 |
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Return for Risk
QQXL vs. IQQQ — Risk / Return Rank
QQXL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IQQQ
QQXL vs. IQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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.
| QQXL | IQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.95 | — |
| Martin ratioReturn relative to average drawdown | — | 6.33 | — |
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Drawdowns
QQXL vs. IQQQ - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for QQXL and IQQQ.
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Drawdown Indicators
| QQXL | IQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -20.41% | -6.93% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.13% | — |
Current DrawdownCurrent decline from peak | -14.79% | -6.66% | -8.13% |
Average DrawdownAverage peak-to-trough decline | -6.99% | -3.64% | -3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.42% | — |
Volatility
QQXL vs. IQQQ - Volatility Comparison
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Volatility by Period
| QQXL | IQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.11% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 14.48% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 41.47% | 17.76% | +23.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.47% | 19.16% | +22.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.47% | 19.16% | +22.31% |
QQXL vs. IQQQ - Expense Ratio Comparison
QQXL has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.
Dividends
QQXL vs. IQQQ - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.82%, less than IQQQ's 5.37% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IQQQ ProShares Nasdaq-100 High Income ETF | 5.37% | 10.34% | 7.27% |
QQXL ProShares Ultra QQQ Top 30 | 0.82% | 0.08% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, QQXL and IQQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IQQQ is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for QQXL.
IQQQ has the higher dividend yield at 5.37%, compared with 0.82% for QQXL.
QQXL is categorized as Leveraged Equities, while IQQQ is Nasdaq-100. Their fees differ too: 0.95% for QQXL and 0.55% for IQQQ.
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