QQXL vs. QTOP

Last updated Jun 5, 2026

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

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ Top 30 (QQXL) and iShares Nasdaq Top 30 Stocks ETF (QTOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQXL achieves a 41.81% return, which is significantly higher than QTOP's 21.83% return.

QQXL

• 1D: -1.36%
• 1M: 16.51%
• YTD: 41.81%
• 6M: 39.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QTOP

• 1D: -0.72%
• 1M: 8.47%
• YTD: 21.83%
• 6M: 20.96%
• 1Y: 44.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQXL vs. QTOP - Yearly Performance Comparison

	2026 (YTD)	2025
QQXL ProShares Ultra QQQ Top 30	41.81%	8.66%
QTOP iShares Nasdaq Top 30 Stocks ETF	21.83%	6.46%

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 18, 2025	0.99

Return for Risk

QQXL vs. QTOP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QTOP

QTOP Risk / Return Rank: 74
QTOP Sharpe Ratio Rank: 81
QTOP Sortino Ratio Rank: 76
QTOP Omega Ratio Rank: 75
QTOP Calmar Ratio Rank: 71
QTOP Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QQXL	QTOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.95	1.45	+0.50

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.

Drawdown Indicators

	QQXL	QTOP	Difference
Max Drawdown Largest peak-to-trough decline	-27.34%	-23.28%	-4.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.88%	—
Current Drawdown Current decline from peak	-1.84%	-0.93%	-0.91%
Average Drawdown Average peak-to-trough decline	-6.74%	-3.81%	-2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.49%	—

Volatility

Volatility by Period

	QQXL	QTOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.93%	17.41%	+19.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.93%	22.68%	+14.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.93%	22.68%	+14.25%

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 0.45%, more than QTOP's 0.32% yield.

Position	TTM	2025	2024
QQXL ProShares Ultra QQQ Top 30	0.45%	0.08%	0.00%
QTOP iShares Nasdaq Top 30 Stocks ETF	0.32%	0.38%	0.11%

Frequently Asked Questions

Can I hold both QQXL and QTOP in my portfolio?

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.

Which ETF is better, QQXL or QTOP?

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.

Which ETF is cheaper, QQXL or QTOP?

QTOP is cheaper with a 0.20% expense ratio, compared with 0.95% for QQXL.

Which ETF pays a higher dividend yield, QQXL or QTOP?

QQXL has the higher dividend yield at 0.45%, compared with 0.32% for QTOP.

What is the main difference between QQXL and 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.