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Launched · SEC filings

ProShares Ultra QQQ

QLDNYSE ArcaProSharesAThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$81.56+1.25 (+1.56%)

As of Nov 3, 2026, 12:55 PM ET

A78/ 100

Rank 1 of 99 in Leveraged Long (2x & Other)

A78/100Rank 1 of 99inLeveraged Long (2x & Other)
Intraday session: up, 42 prints from 80.30 to 81.56. Range 80.99 to 81.93. Use the arrow keys to read each point.80.5081.0082.0010 AM12 PM2 PM4 PM
Expense ratio
0.89%*
Fund size
$13.3B
1Y total return
+7.6%
Yield · Last 12 months
0.15%
Holdings
113
Avg volume · 30D
4.15M sh
52W range
low $56.60high $101.62
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 30, 2027. Without it: 0.96%.

The ETF.net QLD Grade

A

Score 78 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
1 of 99
Six-pillar profile for QLD. Scores out of 100: Cost 72, Risk 66, Mission 95, Tradability 100, Holdings 72, Durability 81. Strongest: Tradability (100). Weakest: Risk (66). Leans toward Tradability and Mission.

Score 78 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A72 out of 100
    Rank 28 of 99

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A95 out of 100
    Rank 2 of 13

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B66 out of 100
    Rank 23 of 98

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A100 out of 100
    Rank 1 of 99

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A72 out of 100
    Rank 5 of 27

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A81 out of 100
    Rank 2 of 99

Our read on QLD

ETF.net Research

In short

AThe 2x dial on the Nasdaq-100. QLD aims for twice the index's daily move, half the dose of the 3x crowd, and it has been running that playbook since 2006. The multiple resets every session.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to twice the daily performance of the Nasdaq-100 Index.

Why people hold it

  • Costs 0.89% net of a waiver through September 30, 2027 (0.96% gross), below the leveraged-bull category median and under Ultra stablemates ROM (0.93%) and DDM (0.95%).
  • Hits its stated daily 2x mark with very little drift, one of the tighter implementations among the roughly 100 leveraged bull funds in its group.
  • A multi-billion-dollar, actively traded fund, so entering and exiting rarely means hunting for the other side of the trade.
  • Trading since June 2006, which makes it one of the longest-running leveraged equity funds on the US shelf rather than a recent product-shelf experiment.

Worth knowing

  • The 2x objective covers one day only. Hold longer and daily resets plus compounding can push results away from twice the index's move over that stretch, in either direction.proshares.com
  • Magnification runs both ways: a down day in the Nasdaq-100 lands on shareholders at roughly double size, same as an up day.
  • Cheap for geared exposure, still well above a plain unleveraged Nasdaq-100 tracker. The waiver is set to lapse September 30, 2027, after which the 0.96% gross rate applies unless renewed.

QLD Performance

Launched Jun 19, 2006

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

QLD$10,760
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. QLD $10,760. SPY $11,146. Use the arrow keys to read each point.$8,000$10,000$12,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for QLD. Periods over one year show the average yearly return.
PeriodQLD
Year to date+14.2%
1 month−18.2%
3 months−4.0%
1 year+7.6%
3 yearsper year+38.8%
5 yearsper year+13.6%
10 yearsper year+32.0%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for QLD
YearReturn barQLD
2026 YTD+14.2%
2025+30.4%
2024+42.8%
2023+117.7%
2022−60.5%

QLD in the news

QLD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 2, 2026.
0.15%Last 12 months
Payout per share
$0.12Last 12 months
Last payment
$0.03 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 21 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.0012; Jun 21, 2017 $0.00044; Dec 26, 2018 $0.005; Mar 20, 2019 $0.0078; Jun 25, 2019 $0.0052; Dec 24, 2019 $0.0062; Mar 25, 2020 $0.0011; Dec 22, 2022 $0.05; Sep 20, 2023 $0.09; Dec 20, 2023 $0.04; Mar 20, 2024 $0.03; Jun 26, 2024 $0.05; Sep 25, 2024 $0.03; Dec 23, 2024 $0.03; Mar 26, 2025 $0.01; Jun 25, 2025 $0.06; Sep 24, 2025 $0.02; Dec 24, 2025 $0.02; Mar 25, 2026 $0.01; Jun 24, 2026 $0.06; Sep 23, 2026 $0.03. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.03
Jun 24, 2026Jun 30, 2026$0.06
Mar 25, 2026Mar 31, 2026$0.01
Dec 24, 2025Dec 31, 2025$0.02
Sep 24, 2025Sep 30, 2025$0.02
Jun 25, 2025Jul 1, 2025$0.06
Mar 26, 2025Apr 1, 2025$0.01
Dec 23, 2024Dec 31, 2024$0.03
Sep 25, 2024Oct 2, 2024$0.03
Jun 26, 2024Jul 3, 2024$0.05
Mar 20, 2024Mar 27, 2024$0.03
Dec 20, 2023Dec 28, 2023$0.04

See all 34 payments⁠

$10,000 in QLD 10 years ago paid $1,148 in dividends.⁠

QLD Risk

Risk pillarB66 out of 100Rank 23 of 98 in Leveraged Long (2x & Other)

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
36.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.04
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−63.7%
Trough Dec 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.46
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

QLD Cost

Compare QLD and WX

Overpaying vs WX, cheapest in Leveraged Long (2x & Other)

$12,717

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • QLD 0.89%

    $16,872

  • WX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • QLD 0.89%
  • WX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530QLD $16,872WX $4,155

Year by year

YearQLDWXOverpaying
10$1,576$365$1,211
20$5,953$1,421$4,532
30$16,872$4,155$12,717
How the 0.89% is worked out

Full fee 0.96%− waiver 0.07%= you pay 0.89%

The waiver ends Sep 30, 2027. After that the fee is 0.96% unless ProShares renews it. Source: prospectus, Sep 2026.

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