URSP vs. QLD
URSP (ProShares Ultra S&P 500 Equal Weight ETF) and QLD (ProShares Ultra QQQ) are both Leveraged Equities funds from ProShares - URSP tracks the S&P 500 Equal Weight Index while QLD tracks the NASDAQ-100 Index (200%). Both are passively managed. A 0.56 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
URSP vs. QLD - Performance Comparison
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Returns By Period
In the year-to-date period, URSP achieves a 19.78% return, which is significantly lower than QLD's 30.45% return.
URSP
- 1D
- 1.34%
- 1M
- 4.16%
- YTD
- 19.78%
- 6M
- 16.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLD
- 1D
- 1.55%
- 1M
- -4.74%
- YTD
- 30.45%
- 6M
- 26.29%
- 1Y
- 62.19%
- 3Y*
- 45.24%
- 5Y*
- 21.62%
- 10Y*
- 36.90%
URSP vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
URSP ProShares Ultra S&P 500 Equal Weight ETF | 19.78% | 1.59% |
QLD ProShares Ultra QQQ | 30.45% | 12.37% |
Correlation
The correlation between URSP and QLD is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 27, 2025 | 0.56 |
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Return for Risk
URSP vs. QLD — Risk / Return Rank
URSP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QLD
URSP vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 Equal Weight ETF (URSP) 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.
| URSP | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.49 | — |
| Martin ratioReturn relative to average drawdown | — | 8.37 | — |
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Drawdowns
URSP vs. QLD - Drawdown Comparison
The maximum URSP drawdown since its inception was -15.72%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for URSP and QLD.
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Drawdown Indicators
| URSP | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.72% | -83.13% | +67.41% |
Max Drawdown (1Y)Largest decline over 1 year | — | -25.13% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.29% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.68% | — |
Current DrawdownCurrent decline from peak | -0.33% | -8.65% | +8.32% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -18.14% | +15.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.45% | — |
Volatility
URSP vs. QLD - Volatility Comparison
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Volatility by Period
| URSP | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 17.91% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 28.90% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 23.68% | 35.65% | -11.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.68% | 45.34% | -21.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.68% | 44.78% | -21.10% |
URSP vs. QLD - Expense Ratio Comparison
Both URSP and QLD have an expense ratio of 0.95%.
Dividends
URSP vs. QLD - Dividend Comparison
URSP's dividend yield for the trailing twelve months is around 0.94%, 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% |
URSP ProShares Ultra S&P 500 Equal Weight ETF | 0.94% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
URSP and QLD have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
URSP and QLD have the same expense ratio: 0.95% per year.
URSP has the higher dividend yield at 0.94%, compared with 0.13% for QLD.
URSP tracks S&P 500 Equal Weight Index, while QLD tracks NASDAQ-100 Index (200%).
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