UDOW vs. QLD
Compare and contrast key facts about ProShares UltraPro Dow30 (UDOW) and ProShares Ultra QQQ (QLD).
UDOW and QLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UDOW is a passively managed fund by ProShares that tracks the performance of the Dow Jones Industrial Average (300%). It was launched on Feb 9, 2010. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006. Both UDOW and QLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UDOW vs. QLD - Performance Comparison
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UDOW vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UDOW ProShares UltraPro Dow30 | -13.10% | 24.46% | 28.47% | 32.72% | -32.39% | 65.67% | -17.15% | 75.24% | -23.86% | 99.07% |
QLD ProShares Ultra QQQ | -13.35% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Returns By Period
The year-to-date returns for both stocks are quite close, with UDOW having a -13.10% return and QLD slightly lower at -13.35%. Over the past 10 years, UDOW has underperformed QLD with an annualized return of 20.30%, while QLD has yielded a comparatively higher 29.40% annualized return.
UDOW
- 1D
- 7.38%
- 1M
- -16.17%
- YTD
- -13.10%
- 6M
- -5.67%
- 1Y
- 16.04%
- 3Y*
- 23.31%
- 5Y*
- 10.24%
- 10Y*
- 20.30%
QLD
- 1D
- 6.72%
- 1M
- -10.26%
- YTD
- -13.35%
- 6M
- -11.03%
- 1Y
- 37.53%
- 3Y*
- 35.41%
- 5Y*
- 15.27%
- 10Y*
- 29.40%
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UDOW vs. QLD - Expense Ratio Comparison
Both UDOW and QLD have an expense ratio of 0.95%.
Return for Risk
UDOW vs. QLD — Risk / Return Rank
UDOW
QLD
UDOW vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Dow30 (UDOW) 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.
| UDOW | QLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.32 | 0.84 | -0.52 |
Sortino ratioReturn per unit of downside risk | 0.81 | 1.43 | -0.62 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.20 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.65 | 1.49 | -0.84 |
Martin ratioReturn relative to average drawdown | 2.13 | 4.88 | -2.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UDOW | QLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.84 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.34 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.66 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.53 | -0.03 |
Correlation
The correlation between UDOW and QLD is 0.76, 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
UDOW vs. QLD - Dividend Comparison
UDOW's dividend yield for the trailing twelve months is around 1.56%, more than QLD's 0.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UDOW ProShares UltraPro Dow30 | 1.56% | 1.38% | 0.95% | 0.95% | 0.83% | 0.26% | 0.19% | 0.61% | 0.73% | 0.13% | 0.26% | 0.21% |
QLD ProShares Ultra QQQ | 0.19% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Drawdowns
UDOW vs. QLD - Drawdown Comparison
The maximum UDOW drawdown since its inception was -80.29%, roughly equal to the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for UDOW and QLD.
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Drawdown Indicators
| UDOW | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.29% | -83.13% | +2.84% |
Max Drawdown (1Y)Largest decline over 1 year | -30.18% | -25.13% | -5.05% |
Max Drawdown (5Y)Largest decline over 5 years | -55.79% | -63.68% | +7.89% |
Max Drawdown (10Y)Largest decline over 10 years | -80.29% | -63.68% | -16.61% |
Current DrawdownCurrent decline from peak | -22.46% | -20.10% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -14.46% | -18.30% | +3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.21% | 7.67% | +1.54% |
Volatility
UDOW vs. QLD - Volatility Comparison
ProShares UltraPro Dow30 (UDOW) has a higher volatility of 14.74% compared to ProShares Ultra QQQ (QLD) at 12.96%. This indicates that UDOW's price experiences larger fluctuations and is considered to be riskier 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
| UDOW | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.74% | 12.96% | +1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 27.64% | 25.55% | +2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.20% | 44.91% | +5.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.05% | 44.77% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.68% | 44.47% | +7.21% |