QQXL vs. QTOP
QQXL (ProShares Ultra QQQ Top 30) and QTOP (iShares Nasdaq Top 30 Stocks ETF) are both exchange-traded funds - QQXL is a Leveraged Equities fund actively managed by ProShares, while QTOP is a Nasdaq-100 fund tracking the Nasdaq-100 Top 30 Index. QQXL is actively managed, while QTOP is passively managed. With a 0.99 correlation, they move nearly in lockstep. QQXL charges 0.95%/yr vs 0.20%/yr for QTOP.
Performance
QQXL vs. QTOP - Performance Comparison
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Returns By Period
In the year-to-date period, QQXL achieves a 29.93% return, which is significantly higher than QTOP's 17.23% return.
QQXL
- 1D
- 1.80%
- 1M
- -7.57%
- YTD
- 29.93%
- 6M
- 25.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QTOP
- 1D
- 0.80%
- 1M
- -3.26%
- YTD
- 17.23%
- 6M
- 15.28%
- 1Y
- 35.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQXL vs. QTOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 29.93% | 9.00% |
QTOP iShares Nasdaq Top 30 Stocks ETF | 17.23% | 6.18% |
Correlation
The correlation between QQXL and QTOP is 0.99 - 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 | 0.99 |
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Return for Risk
QQXL vs. QTOP — Risk / Return Rank
QQXL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QTOP
QQXL vs. QTOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) and iShares Nasdaq Top 30 Stocks ETF (QTOP). 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 | QTOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 9.82 | — |
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Drawdowns
QQXL vs. QTOP - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, which is greater than QTOP's maximum drawdown of -23.28%. Use the drawdown chart below to compare losses from any high point for QQXL and QTOP.
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Drawdown Indicators
| QQXL | QTOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -23.28% | -4.06% |
Max Drawdown (1Y)Largest decline over 1 year | — | -12.88% | — |
Current DrawdownCurrent decline from peak | -10.07% | -4.67% | -5.40% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -3.80% | -3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.64% | — |
Volatility
QQXL vs. QTOP - Volatility Comparison
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Volatility by Period
| QQXL | QTOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.97% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.52% | 19.46% | +21.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.52% | 23.40% | +17.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.52% | 23.40% | +17.12% |
QQXL vs. QTOP - Expense Ratio Comparison
QQXL has a 0.95% expense ratio, which is higher than QTOP's 0.20% expense ratio.
Dividends
QQXL vs. QTOP - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.78%, more than QTOP's 0.33% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 0.78% | 0.08% | 0.00% |
QTOP iShares Nasdaq Top 30 Stocks ETF | 0.33% | 0.38% | 0.11% |
Frequently Asked Questions
With a correlation of 0.99, QQXL and QTOP 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, QTOP is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QTOP is cheaper with a 0.20% expense ratio, compared with 0.95% for QQXL.
QQXL has the higher dividend yield at 0.78%, compared with 0.33% for QTOP.
QQXL is categorized as Leveraged Equities, while QTOP is Nasdaq-100. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for QQXL and 0.20% for QTOP.
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