RXD vs. QLD
RXD (ProShares UltraShort Health Care) and QLD (ProShares Ultra QQQ) are both Leveraged Equities funds from ProShares - RXD tracks the DJ Global United States (All) / Health Care -IND (-200%) while QLD tracks the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, RXD returned -19.70%/yr vs 34.28%/yr for QLD. At a correlation of -0.54, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
RXD vs. QLD - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a -8.04% return, which is significantly lower than QLD's 28.12% return. Over the past 10 years, RXD has underperformed QLD with an annualized return of -19.70%, while QLD has yielded a comparatively higher 34.28% annualized return.
RXD
- 1D
- -0.18%
- 1M
- -9.97%
- 6M
- -5.09%
- YTD
- -8.04%
- 1Y
- -29.83%
- 3Y*
- -10.17%
- 5Y*
- -8.26%
- 10Y*
- -19.70%
QLD
- 1D
- -3.81%
- 1M
- -3.42%
- 6M
- 23.12%
- YTD
- 28.12%
- 1Y
- 52.34%
- 3Y*
- 39.12%
- 5Y*
- 19.39%
- 10Y*
- 34.28%
RXD vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | -8.04% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
QLD ProShares Ultra QQQ | 28.12% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between RXD and QLD is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.48 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.54 |
Over the past year, the inverse relationship between RXD and QLD has weakened: their correlation has moved from -0.54 to -0.07, meaning they move in opposite directions less often than they have historically.
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Return for Risk
RXD vs. QLD — Risk / Return Rank
RXD
QLD
RXD vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) and ProShares Ultra QQQ (QLD). 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.
| RXD | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.25 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 2.09 | -2.87 |
| Martin ratioReturn relative to average drawdown | -1.23 | 6.85 | -8.08 |
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Drawdowns
RXD vs. QLD - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.67%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for RXD and QLD.
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Drawdown Indicators
| RXD | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.67% | -83.13% | -16.54% |
Max Drawdown (1Y)Largest decline over 1 year | -38.77% | -25.13% | -13.64% |
Max Drawdown (3Y)Largest decline over 3 years | -40.62% | -42.29% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -44.27% | -63.68% | +19.41% |
Max Drawdown (10Y)Largest decline over 10 years | -91.23% | -63.68% | -27.55% |
Current DrawdownCurrent decline from peak | -99.66% | -10.29% | -89.37% |
Average DrawdownAverage peak-to-trough decline | -81.95% | -18.11% | -63.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.31% | 7.66% | +16.65% |
Volatility
RXD vs. QLD - Volatility Comparison
The current volatility for ProShares UltraShort Health Care (RXD) is 10.73%, while ProShares Ultra QQQ (QLD) has a volatility of 17.17%. This indicates that RXD experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RXD | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.73% | 17.17% | -6.44% |
Volatility (6M)Calculated over the trailing 6-month period | 23.00% | 30.63% | -7.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.23% | 37.07% | -5.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.14% | 45.56% | -15.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.04% | 44.86% | -11.82% |
RXD vs. QLD - Expense Ratio Comparison
Both RXD and QLD have an expense ratio of 0.95%.
Dividends
RXD vs. QLD - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 3.23%, more than QLD's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
RXD ProShares UltraShort Health Care | 3.23% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RXD and QLD have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (17.17%) compared to RXD (10.73%). In terms of maximum drawdown, RXD dropped -99.67% vs QLD's -83.13%.
On 10-year performance, QLD leads with 34.28% vs -19.70% for RXD. Both ETFs have the same 0.95% expense ratio. On volatility, RXD has been the lower-risk option at 10.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 34.28% return vs -19.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RXD and QLD have the same expense ratio: 0.95% per year.
RXD has the higher dividend yield at 3.23%, compared with 0.13% for QLD.
RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while QLD tracks NASDAQ-100 Index (200%).
QLD currently has the higher Sharpe Ratio (1.42 vs -0.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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