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