TOLZ vs. QLD

Last updated Jun 4, 2026

TOLZ (ProShares DJ Brookfield Global Infrastructure ETF) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - TOLZ is a Industrials Equities fund tracking the Dow Jones Brookfield Global Infrastructure Composite Index, while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, TOLZ returned 7.75%/yr vs 36.10%/yr for QLD. At a 0.46 correlation, their price movements are largely independent. TOLZ charges 0.46%/yr vs 0.95%/yr for QLD.

Performance

TOLZ vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOLZ achieves a 11.31% return, which is significantly lower than QLD's 42.06% return. Over the past 10 years, TOLZ has underperformed QLD with an annualized return of 7.75%, while QLD has yielded a comparatively higher 36.10% annualized return.

TOLZ

• 1D: -0.10%
• 1M: -1.82%
• YTD: 11.31%
• 6M: 11.51%
• 1Y: 13.97%
• 3Y*: 14.17%
• 5Y*: 8.46%
• 10Y*: 7.75%

QLD

• 1D: -0.53%
• 1M: 21.54%
• YTD: 42.06%
• 6M: 37.45%
• 1Y: 85.49%
• 3Y*: 50.15%
• 5Y*: 25.75%
• 10Y*: 36.10%

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

TOLZ vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	11.31%	14.76%	11.67%	6.18%	-4.25%	20.47%	-9.46%	26.84%	-7.90%	13.28%
QLD ProShares Ultra QQQ	42.06%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%

Correlation

The correlation between TOLZ and QLD is -0.00, 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	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Mar 28, 2014	0.46

The correlation between TOLZ and QLD shifts across timeframes, from -0.00 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

TOLZ vs. QLD - Sectors Allocation Comparison

Sectors	TOLZ	QLD
Energy	35.4%	0.6%
Utilities	22.2%	1.4%
Real Estate	8.0%	0.1%
Industrials	5.2%	2.8%
Consumer Defensive	4.5%	7.7%
Financial Services	2.0%	0.2%
Consumer Cyclical	0.8%	12.3%
Technology	0.4%	53.8%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Healthcare	-	4.2%

Return for Risk

TOLZ vs. QLD — Risk / Return Rank

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

TOLZ

TOLZ Risk / Return Rank: 43
TOLZ Sharpe Ratio Rank: 38
TOLZ Sortino Ratio Rank: 38
TOLZ Omega Ratio Rank: 35
TOLZ Calmar Ratio Rank: 55
TOLZ Martin Ratio Rank: 49

QLD

QLD Risk / Return Rank: 69
QLD Sharpe Ratio Rank: 81
QLD Sortino Ratio Rank: 67
QLD Omega Ratio Rank: 67
QLD Calmar Ratio Rank: 67
QLD Martin Ratio Rank: 64

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.

TOLZ vs. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) 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.

	TOLZ	QLD	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.70	-1.34
Sortino ratio: Return per unit of downside risk	1.99	3.16	-1.17
Omega ratio: Gain probability vs. loss probability	1.23	1.41	-0.18
Calmar ratio: Return relative to maximum drawdown	2.71	3.42	-0.71
Martin ratio: Return relative to average drawdown	8.20	11.92	-3.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TOLZ vs. QLD - Sharpe Ratio Comparison

The current TOLZ Sharpe Ratio is 1.36, which is lower than the QLD Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of TOLZ and QLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TOLZ	QLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	2.70	-1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.58	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.81	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.60	-0.18

Drawdowns

TOLZ vs. QLD - Drawdown Comparison

The maximum TOLZ drawdown since its inception was -39.33%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for TOLZ and QLD.

Drawdown Indicators

	TOLZ	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-39.33%	-83.13%	+43.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-25.13%	+19.95%
Max Drawdown (3Y) Largest decline over 3 years	-11.94%	-42.29%	+30.35%
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	-63.68%	+41.83%
Max Drawdown (10Y) Largest decline over 10 years	-39.33%	-63.68%	+24.35%
Current Drawdown Current decline from peak	-3.13%	-0.53%	-2.60%
Average Drawdown Average peak-to-trough decline	-6.63%	-18.17%	+11.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	7.20%	-5.49%

Volatility

TOLZ vs. QLD - Volatility Comparison

The current volatility for ProShares DJ Brookfield Global Infrastructure ETF (TOLZ) is 3.37%, while ProShares Ultra QQQ (QLD) has a volatility of 8.90%. This indicates that TOLZ 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.

Volatility by Period

	TOLZ	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	8.90%	-5.53%
Volatility (6M) Calculated over the trailing 6-month period	8.20%	24.08%	-15.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.29%	31.85%	-21.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.99%	44.74%	-30.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	44.56%	-28.27%

TOLZ vs. QLD - Expense Ratio Comparison

TOLZ has a 0.46% expense ratio, which is lower than QLD's 0.95% expense ratio.

Dividends

TOLZ vs. QLD - Dividend Comparison

TOLZ's dividend yield for the trailing twelve months is around 3.66%, more than QLD's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLD ProShares Ultra QQQ	0.12%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%
TOLZ ProShares DJ Brookfield Global Infrastructure ETF	3.66%	3.99%	3.53%	3.34%	3.01%	3.28%	3.16%	2.96%	3.63%	3.30%	2.62%	3.67%

Frequently Asked Questions

Can I hold both TOLZ and QLD in my portfolio?

TOLZ and QLD have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOLZ or QLD?

QLD has higher volatility (8.90%) compared to TOLZ (3.37%). In terms of maximum drawdown, TOLZ dropped -39.33% vs QLD's -83.13%.

Which ETF is better, TOLZ or QLD?

On 10-year performance, QLD leads with 36.10% vs 7.75% for TOLZ. On fees, TOLZ is cheaper at 0.46% per year. On volatility, TOLZ has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOLZ or QLD?

Over the 10-year period, QLD has performed better with a 36.10% return vs 7.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOLZ or QLD?

TOLZ is cheaper with a 0.46% expense ratio, compared with 0.95% for QLD.

Which ETF pays a higher dividend yield, TOLZ or QLD?

TOLZ has the higher dividend yield at 3.66%, compared with 0.12% for QLD.

What is the main difference between TOLZ and QLD?

TOLZ is categorized as Industrials Equities, while QLD is Leveraged Equities. TOLZ tracks Dow Jones Brookfield Global Infrastructure Composite Index, while QLD tracks NASDAQ-100 Index (200%). Their fees differ too: 0.46% for TOLZ and 0.95% for QLD.

Which has better risk-adjusted returns?

QLD currently has the higher Sharpe Ratio (2.70 vs 1.36), 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.