QQXL vs. QQUP
QQXL (ProShares Ultra QQQ Top 30) and QQUP (ProShares Ultra Top QQQ) are both Leveraged Equities funds from ProShares. QQXL is actively managed, while QQUP is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.
Performance
QQXL vs. QQUP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QQXL achieves a 29.93% return, which is significantly higher than QQUP's -10.47% return.
QQXL
- 1D
- 1.80%
- 1M
- -7.57%
- YTD
- 29.93%
- 6M
- 25.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQUP
- 1D
- -5.22%
- 1M
- -22.93%
- YTD
- -10.47%
- 6M
- -13.08%
- 1Y
- 23.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQXL vs. QQUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 29.93% | 9.00% |
QQUP ProShares Ultra Top QQQ | -10.47% | 10.23% |
Correlation
The correlation between QQXL and QQUP is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 15, 2025 | 0.90 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QQXL vs. QQUP — Risk / Return Rank
QQXL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QQUP
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.
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 | QQUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.13 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.64 | — |
| Martin ratioReturn relative to average drawdown | — | 1.75 | — |
Loading charts...
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.
Loading charts...
Drawdown Indicators
| QQXL | QQUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -37.67% | +10.33% |
Max Drawdown (1Y)Largest decline over 1 year | — | -37.67% | — |
Current DrawdownCurrent decline from peak | -10.07% | -26.83% | +16.76% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -9.60% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 13.63% | — |
Volatility
QQXL vs. QQUP - Volatility Comparison
Loading charts...
Volatility by Period
| QQXL | QQUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.60% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 30.99% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.52% | 40.30% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.52% | 40.03% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.52% | 40.03% | +0.49% |
QQXL vs. QQUP - Expense Ratio Comparison
Both QQXL and QQUP have an expense ratio of 0.95%.
Dividends
QQXL vs. QQUP - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.78%, more than QQUP's 0.74% yield.
| Position | TTM | 2025 |
|---|---|---|
QQUP ProShares Ultra Top QQQ | 0.74% | 0.29% |
QQXL ProShares Ultra QQQ Top 30 | 0.78% | 0.08% |
Frequently Asked Questions
QQXL and QQUP have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
QQXL and QQUP have the same expense ratio: 0.95% per year.
QQXL has the higher dividend yield at 0.78%, compared with 0.74% for QQUP.
Find the right allocation for QQXL and QQUP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer