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QQXL vs. SPMO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QQXL vs. SPMO

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Ultra QQQ Top 30 (QQXL) and Invesco S&P 500 Momentum ETF (SPMO).

QQXL and SPMO 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. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015.

Performance

QQXL vs. SPMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ Top 30 (QQXL) and Invesco S&P 500 Momentum ETF (SPMO). The values are adjusted to include any dividend payments, if applicable.

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QQXL vs. SPMO - Yearly Performance Comparison

2026 (YTD)2025
QQXL
ProShares Ultra QQQ Top 30		-12.08%8.66%
SPMO
Invesco S&P 500 Momentum ETF		-3.77%2.12%

Returns By Period

In the year-to-date period, QQXL achieves a -12.08% return, which is significantly lower than SPMO's -3.77% return.

QQXL

1D
2.82%
1M
-7.39%
YTD
-12.08%
6M
-10.46%
1Y
—
3Y*
—
5Y*
—
10Y*
—

SPMO

1D
2.13%
1M
-4.40%
YTD
-3.77%
6M
-4.53%
1Y
23.97%
3Y*
29.27%
5Y*
17.66%
10Y*
17.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Ultra QQQ Top 30

Invesco S&P 500 Momentum ETF

Often compared with QQXL:
QQXL vs. QQQQQXL vs. QQQMQQXL vs. QQUPQQXL vs. TQQQQQXL vs. BULZQQXL vs. QQQUQQXL vs. QQQQ.TO
Often compared with SPMO:
SPMO vs. VOOSPMO vs. QQQSPMO vs. SCHGSPMO vs. MTUMSPMO vs. VUGSPMO vs. VFMOSPMO vs. XMMO

QQXL vs. SPMO - Expense Ratio Comparison

QQXL has a 0.95% expense ratio, which is higher than SPMO's 0.13% expense ratio.

QQXL
ProShares Ultra QQQ Top 30
SPMO
Invesco S&P 500 Momentum ETF

Return for Risk

QQXL vs. SPMO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQXL
SPMO
SPMO Risk / Return Rank: 6464
Overall Rank
SPMO Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
SPMO Sortino Ratio Rank: 6060
Sortino Ratio Rank
SPMO Omega Ratio Rank: 6363
Omega Ratio Rank
SPMO Calmar Ratio Rank: 7373
Calmar Ratio Rank
SPMO Martin Ratio Rank: 6666
Martin Ratio Rank
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. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) and Invesco S&P 500 Momentum ETF (SPMO). 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.

QQXL vs. SPMO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

QQXLSPMODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.06

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.93

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.87

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.19

0.86

-1.05

Correlation

The correlation between QQXL and SPMO is 0.86, 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. SPMO - Dividend Comparison

QQXL's dividend yield for the trailing twelve months is around 0.73%, less than SPMO's 0.89% yield.

TTM20252024202320222021202020192018201720162015
QQXL
ProShares Ultra QQQ Top 30		0.73%0.08%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPMO
Invesco S&P 500 Momentum ETF		0.89%0.73%0.48%1.63%1.66%0.52%1.27%1.39%1.05%0.77%1.94%0.36%

Drawdowns

QQXL vs. SPMO - Drawdown Comparison

The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for QQXL and SPMO.

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Drawdown Indicators

QQXLSPMODifference

Max Drawdown

Largest peak-to-trough decline

-27.34%

-30.95%

+3.61%

Max Drawdown (1Y)

Largest decline over 1 year

—

-12.70%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.74%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-30.95%

—

Current Drawdown

Current decline from peak

-19.73%

-7.31%

-12.42%

Average Drawdown

Average peak-to-trough decline

-7.69%

-4.66%

-3.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.60%

—

Volatility

QQXL vs. SPMO - Volatility Comparison

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Volatility by Period

QQXLSPMODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

7.22%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

12.80%

—

Volatility (1Y)

Calculated over the trailing 1-year period

36.70%

22.77%

+13.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.70%

19.08%

+17.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.70%

20.09%

+16.61%