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Launched

ProShares Ultra QQQ Mega

QQUPNasdaqProSharesCThis 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.

$57.19−1.14 (−1.95%)

At close: Nov 2, 2026, 4:00 PM ET

C52/ 100

Rank 25 of 99 in Leveraged Long (2x & Other)

C52/100Rank 25 of 99inLeveraged Long (2x & Other)
Intraday session: down, 79 prints from 58.33 to 57.19. Range 57.19 to 60.29. Use the arrow keys to read each point.59.0059.5060.0010 AM12 PM2 PM4 PM
Expense ratio
0.95%*
Fund size
$23M
1Y total return
−7.0%
Yield · Last 12 months
0.66%
Holdings
9
Avg volume · 30D
2.9K sh
52W range
low $40.09high $70.28
Launched

*After a fee waiver that ends Sep 30, 2027. Without it: 1.22%.

The ETF.net QQUP Grade

Based on 4 of 6 pillars

C

Score 52 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
25 of 99
Six-pillar profile for QQUP. Scores out of 100: Cost 51, Risk 47, Mission not scored, Tradability 58, Holdings not scored, Durability 59. Strongest: Durability (59). Weakest: Risk (47). Based on 4 of 6 pillars.

Score 52 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.
    C51 out of 100
    Rank 32 of 99

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 53 of 98

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B58 out of 100
    Rank 38 of 99

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B59 out of 100
    Rank 39 of 99

Our read on QQUP

ETF.net Research

In short

CMost 2x Nasdaq funds own all 100 names. QQUP targets twice the daily move of only the mega-cap top slice, with membership set by index rules rather than a frozen Mag 7 list.

Stated mandate

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 the daily move of the Nasdaq-100 Mega Index, a basket covering roughly the top 45% of the Nasdaq-100.proshares.com
  • Membership is rules-based: annual December reconstitution plus rank checks in March, June and September, so the mega-cap leaderboard rotates as it changes.nasdaq.com
  • Fee is 0.95% net of a waiver through September 30, 2027 (1.22% gross), near the median for leveraged bull funds.

Worth knowing

  • The 2x target applies to a single day. Over longer holds, daily compounding can push returns meaningfully above or below 2x the index, as the prospectus spells out.proshares.com
  • A narrow mega-cap basket, doubled. One name's bad week lands harder here than in a 2x fund spread across all 100 Nasdaq-100 members.proshares.comnasdaq.com
  • Launched in 2025, it stays small and lightly traded next to veterans like QLD, which runs 0.89% net of a waiver through September 30, 2027.

QQUP Holdings

Asset class
Stocks
Holdings
9
Top-10 weight
100%
Largest holding
Net Other Assets (Liabilities)46.3%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataNet Other Assets (Liabilities)46.30%10,792,512$10.8M151
2AAPLApple Inc11.61%7,854$2.71M723
3NVDANVIDIA Corp11.39%12,970$2.65M848
4MSFTMicrosoft Corp8.95%3,997$2.09M819
5AMZNAmazon.com Inc5.99%5,805$1.4M738
6TSLATesla Inc4.85%2,828$1.13M528
7GOOGLAlphabet Inc-Cl A3.79%3,157$883K707
8AVGOBroadcom Inc3.58%2,561$835K753
9GOOGAlphabet Inc-Cl C3.55%2,974$827K480

Showing 1–9 of 9 holdings

QQUP Performance

Launched Jun 10, 2025

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$9,296
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. QQUP $9,296. SPY $11,199. Use the arrow keys to read each point.$8,000$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 QQUP. Periods over one year show the average yearly return.
PeriodQQUP
Year to date+2.0%
1 month−9.4%
3 months−2.7%
1 year−7.0%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 QQUP
YearReturn barQQUP
2026 YTD+2.0%
2025+44.5%

History from Jun 12, 2025

QQUP in the news

QQUP 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 Oct 30, 2026.
0.66%Last 12 months
Payout per share
$0.39Last 12 months
Last payment
$0.08 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2025–2026

One bar per payment. 5 payments from 2025 to 2026 YTD. Sep 24, 2025 $0.07; Dec 24, 2025 $0.09; Mar 25, 2026 $0.11; Jun 24, 2026 $0.10; Sep 23, 2026 $0.08. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.08
Jun 24, 2026Jun 30, 2026$0.10
Mar 25, 2026Mar 31, 2026$0.11
Dec 24, 2025Dec 31, 2025$0.09
Sep 24, 2025Sep 30, 2025$0.07

$10,000 in QQUP 1 year ago paid $61.24 in dividends.

QQUP Risk

Risk pillarC47 out of 100Rank 53 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.
46.7%
Annualised · 16 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.
0.60
vs 3-month T-bills · 16 months 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.
−37.7%
16 months · trough Mar 2026
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.
3.46
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.

QQUP Cost

Compare QQUP and WX

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

$13,714

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

  • QQUP 0.95%

    $17,869

  • WX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • QQUP 0.95%
  • 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$20K051015202530QQUP $17,869WX $4,155

Year by year

YearQQUPWXOverpaying
10$1,678$365$1,313
20$6,322$1,421$4,901
30$17,869$4,155$13,714
How the 0.95% is worked out

Full fee 1.22%− waiver 0.27%= you pay 0.95%

The waiver ends Sep 30, 2027. After that the fee is 1.22% unless ProShares renews it. Source: prospectus, Sep 2026.

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