Average Daily Volume
4.63M
Fund Overview
The ProShares Ultra QQQ (QLD) is a leveraged ETF designed to deliver twice the daily performance of the Nasdaq-100 Index. This ETF uses financial derivatives and debt to amplify returns, making it suitable for investors seeking short-term exposure to the tech-heavy Nasdaq-100. The Nasdaq-100 Index includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, with a strong emphasis on technology, consumer services, and healthcare sectors. QLD is intended for sophisticated investors who understand the risks of leveraged products and are comfortable with the potential for amplified gains or losses.
- Asset Class
-
Equity
- Industry
-
N/A
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- N/A
- Currency Hedged
-
No
- Portfolio Turnover
-
24 %
- Dividend Date
-
Why Invest in the QLD ETF?
Potential Benefits
- Offers 2x daily leveraged exposure to the Nasdaq-100 Index, potentially magnifying short-term gains.
- Provides a cost-effective way to gain amplified exposure to leading tech and growth companies.
- Liquidity is high, with tight bid-ask spreads, making it easy to trade.
- No need for margin accounts or complex options strategies to achieve leveraged returns.
- Diversified exposure to top-performing sectors like technology and consumer discretionary.
Potential Risks
- Leveraged ETFs are designed for short-term holding periods; holding them long-term can lead to significant losses due to compounding effects.
- Highly sensitive to market volatility, which can magnify losses as well as gains.
- Performance may deviate from the 2x target over extended periods due to daily reset mechanics.
- Higher expense ratio compared to non-leveraged ETFs, which can erode returns over time.
- Not suitable for risk-averse investors or those unfamiliar with leveraged products.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+1.8%
|
-5.2%
|
-10.3%
|
+32.9%
|
+21.5%
|
-1.7%
|
-13.5%
|
+7.9%
|
-0.3%
|
-
|
-
|
-
|
| 2025 |
+3.5%
|
-6.0%
|
-15.6%
|
-0.3%
|
+18.2%
|
+12.5%
|
+4.3%
|
+1.2%
|
+10.5%
|
+9.0%
|
-3.9%
|
-1.9%
|
| 2024 |
+2.9%
|
+10.0%
|
+1.7%
|
-9.3%
|
+12.4%
|
+12.1%
|
-4.3%
|
+1.1%
|
+4.4%
|
-2.4%
|
+10.1%
|
+0.1%
|
| 2023 |
+21.2%
|
-1.7%
|
+18.8%
|
+0.3%
|
+15.2%
|
+12.3%
|
+7.2%
|
-4.0%
|
-10.5%
|
-4.9%
|
+21.8%
|
+10.7%
|
| 2022 |
-17.2%
|
-9.6%
|
+7.9%
|
-26.0%
|
-4.8%
|
-18.3%
|
+25.6%
|
-10.9%
|
-20.9%
|
+6.6%
|
+9.8%
|
-18.1%
|
| 2021 |
+0.2%
|
-0.7%
|
+2.3%
|
+11.8%
|
-2.8%
|
+12.7%
|
+5.6%
|
+8.4%
|
-11.4%
|
+16.2%
|
+3.6%
|
+1.6%
|
| 2020 |
+5.6%
|
-11.8%
|
-21.1%
|
+30.6%
|
+12.4%
|
+12.3%
|
+14.9%
|
+22.8%
|
-12.0%
|
-6.7%
|
+22.6%
|
+9.8%
|
| 2019 |
+17.8%
|
+5.6%
|
+7.6%
|
+10.8%
|
-16.5%
|
+15.4%
|
+4.3%
|
-4.7%
|
+1.4%
|
+8.4%
|
+8.0%
|
+7.6%
|
| 2018 |
+17.8%
|
-3.4%
|
-8.7%
|
+0.3%
|
+11.3%
|
+1.7%
|
+5.0%
|
+11.8%
|
-0.8%
|
-17.7%
|
-1.2%
|
-17.9%
|
| 2017 |
+10.3%
|
+8.8%
|
+3.9%
|
+5.3%
|
+7.6%
|
-5.1%
|
+8.2%
|
+3.6%
|
-0.6%
|
+9.1%
|
+3.7%
|
+0.9%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
|
MSFT
|
MICROSOFT CORP |
7.5 % |
|
AAPL
|
APPLE INC |
7.4 % |
|
NVDA
|
NVIDIA CORP |
6.7 % |
|
AMZN
|
AMAZON.COM INC |
5.2 % |
|
AVGO
|
BROADCOM INC |
3.5 % |
|
META
|
META PLATFORMS INC CLASS A |
3.2 % |
|
COST
|
COSTCO WHOLESALE CORP |
2.8 % |
|
NFLX
|
NETFLIX INC |
2.6 % |
|
GOOGL
|
ALPHABET INC CLASS A |
2.4 % |
|
GOOG
|
ALPHABET INC CLASS C |
2.3 % |
Top 10 holdings shown, out of 108 total holdings.
Related ETFs: QLD vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
QLD seeks to deliver 2x the daily performance of the Nasdaq-100 Index by using swaps, futures, and other derivative instruments. The fund does not invest directly in the index components but instead uses financial engineering to achieve its leveraged objective. The Nasdaq-100 Index is market-cap-weighted, meaning larger companies have a greater impact on performance. QLD rebalances its exposure daily to maintain the target leverage ratio, which is critical for investors to understand, as frequent rebalancing can lead to performance drift over longer periods.
Frequently Asked Questions
Is QLD suitable for long-term investing?
No, QLD is designed for short-term trading due to the effects of daily leverage resetting, which can lead to significant performance deviations over time.
How does QLD achieve its 2x leverage?
QLD uses derivatives such as swaps and futures to amplify daily returns, rather than holding the underlying stocks directly.
What are the main risks of investing in QLD?
The primary risks include volatility drag, compounding effects, and the potential for amplified losses in declining markets.
How does QLD compare to TQQQ?
QLD offers 2x daily leverage, while TQQQ provides 3x leverage, making TQQQ more aggressive and volatile.
Can QLD be used for hedging?
While primarily a bullish product, QLD could be part of a paired trade with inverse ETFs like SQQQ for hedging purposes, though this requires careful execution.
Industry Overview
The ProShares Ultra QQQ (QLD) is part of the leveraged ETF industry, which caters to traders and investors looking for amplified exposure to specific indices or sectors. Leveraged ETFs like QLD are popular among short-term traders and hedge funds seeking to capitalize on market movements. The Nasdaq-100 Index, which QLD tracks, is heavily weighted toward technology giants such as Apple, Microsoft, and Amazon, making it a barometer for the tech sector's performance. Investing in QLD requires a clear understanding of leverage risks and market timing, as these products are not designed for buy-and-hold strategies.
Alternative Comparison
Compared to its closest peer, the ProShares UltraPro QQQ (TQQQ), which offers 3x daily leverage, QLD provides a more moderate level of amplification, potentially reducing some of the volatility drag associated with higher leverage. Another alternative, the Invesco QQQ Trust (QQQ), offers non-leveraged exposure to the same index, making it a better choice for long-term investors. QLD's expense ratio is competitive within the leveraged ETF space, though it is higher than non-leveraged funds like QQQ. Unlike some leveraged ETFs that use synthetic replication, QLD aims for precise daily tracking through a mix of derivatives and cash equivalents.
Issuer Overview
ProShares is a leading provider of leveraged and inverse ETFs, offering a wide range of products designed for tactical trading strategies. The firm is known for its expertise in derivatives-based investing and has a strong track record in delivering innovative ETF solutions. ProShares' leveraged ETFs, including QLD, are widely used by active traders and institutional investors seeking short-term market exposure.
Conclusion
The ProShares Ultra QQQ (QLD) is a powerful tool for traders seeking amplified exposure to the Nasdaq-100 Index. Its 2x daily leverage can enhance returns in favorable market conditions but comes with significant risks, including volatility drag and potential for substantial losses. QLD is best suited for experienced investors with a short-term trading horizon and a high tolerance for risk. Long-term investors may prefer non-leveraged alternatives like QQQ for more stable exposure to the same underlying index.
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