ProShares - Ultra QQQ Mega
CThis 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.
$67.69−0.32 (−0.47%)
- 1.16%
- $28M
- +24.8%
- 0.57%
- 0M sh
- $67.34
- low $40.09high $70.28
The ETF.net QQUP Grade
C
Score 48 out of 100
- 24 of 99
Score 48 of 100 falls in the C 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.D35 out of 100Rank 64 of 99Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 51 of 96Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B68 out of 100Rank 21 of 99Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B61 out of 100Rank 36 of 99
Our read on QQUP
CThe Nasdaq-100's heavyweight core, geared up. QQUP targets 2x the daily move of an index built to capture roughly the top 45% cumulative weight of the Nasdaq-100, a mega-cap slice that reshuffles as market leadership shifts.
The fund targets two times the daily returns of the Nasdaq-100 Mega Index.
Why people hold it
- ProShares calls it the first and only ETF targeting 2x daily returns of the Nasdaq-100 Mega Index. Most geared Nasdaq products ride all 100 names.proshares.com
- The index is not a frozen Mag 7 list. It reconstitutes each December and rebalances quarterly, so names can cycle in and out as weights change.indexes.nasdaqomx.comindexes.nasdaq.com
- Concentration is the point: approximately the top 45% weight of the Nasdaq-100, doubled daily. Mega-cap moves land hard, in both directions.proshares.comindexes.nasdaqomx.com
Worth knowing
- The leverage resets every day. Hold longer and compounding pulls results away from 2x the index's move over that stretch, most in choppy markets.proshares.com
- At 1.16%, it carries a higher fee than ProShares' 2x Nasdaq-100 fund QLD at 0.98%. That is the toll for the narrower mega-cap sleeve.
- A 2025 launch that trades thinly, so there is little history to judge and a thinner order book than the long-running geared Nasdaq funds.
QQUP Holdings
- Stocks
- 9
- 100%
- Net Other Assets (Liabilities)
Geography
- United States100.00%
QQUP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
QQUP$12,479
Returns run to the Oct 12, 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.
| Period | QQUP |
|---|---|
| Year to date | +17.7% |
| 1 month | +6.6% |
| 3 months | +12.1% |
| 1 year | +24.8% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | QQUP |
|---|---|---|
| 2026 YTD | +17.7% | |
| 2025 | +44.5% |
QQUP in the news
QQUP Dividends
- 0.57%
- $0.39
- $0.08 per share
- Quarterly
Distribution history
QQUP Risk
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.
- 46.9%
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.
- 0.80
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.
- −37.7%
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.
- 3.46
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
QQUP Cost
1.16%
QQUP1.16%
- The middle half of Leveraged Long (2x & Other) funds
- Median 1.00%
63 of the 95 Leveraged Long (2x & Other) funds charge less.
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