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CWEB vs QLD

Direxion Daily CSI China Internet Index Bull 2X ETF

CWEBDNYSE Arca

ProShares Ultra QQQ

QLDANYSE Arca

Overlap

Expense ratio

QLD −0.38pt a year

CWEB1.27%QLD0.89%

Avg volume · 30D

QLD 6.5×the volume

CWEB641KQLD4.15M

5Y return · a year

QLD +52.8pt

CWEB−38.2%QLD+14.6%

CWEB vs QLD Performance

Oct 29, 2021 – Oct 30, 2026

−91.0%CWEB+97.9%QLD

Oct 29, 2021 to Oct 30, 2026. CWEB −91.0%. QLD +97.9%. Use the arrow keys to read each point.−50%0%50%150%Oct 2021Apr 2024Oct 2026
Expense ratio
CWEB 1.27%
QLD 0.89%, better
Fund size
CWEB $143M
QLD $13.3B
1Y total return
CWEB −68.0%
QLD +10.7%, better
Yield (12M)
CWEB 9.61%, better
QLD 0.15%
Holdings
CWEB 8
QLD 113
Avg volume (30D)
CWEB 641K sh
QLD 4.15M sh, better
NAV per share
CWEB $15.72
QLD $82.56
52W range

ETF.net Grade

CWEB: Cost 10, Risk 18, Mission not scored, Tradability 62, Holdings not scored, Durability 71. QLD: Cost 72, Risk 66, Mission 95, Tradability 100, Holdings 72, Durability 81.
Pillar letters and Scores for CWEB, QLD, with each pillar’s weight
PillarCWEBQLD
Cost30% weightF10A72Higher
Mission25% weightNot scoredA95
Risk15% weightF18B66Higher
Tradability15% weightB62A100Higher
Holdings10% weightNot scoredA72
Durability5% weightA71A81Higher

Rank among Leveraged Long (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CWEB and QLD are both graded against the same 95 Leveraged Long (2x & Other) funds, so their Grades compare head to head.

Leveraged Long (2x & Other)⁠

Category · 95 funds
See all 95 ›

QLD ranks 1st and CWEB 86th of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 77
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 84DFDRXCorgi Founder-Led 2x Daily ETFScore 30
  4. Rank 86DCWEBDirexion Daily CSI China Internet Index Bull 2X ETFScore 28
  5. Rank 86DTARKTradr 2X Long Innovation ETFScore 28

Our read on each fund

ETF.net Research

CWEBDDirexion Daily CSI China Internet Index Bull 2X ETF

QLDAProShares Ultra QQQ

In short

CWEB Two times the daily move of an index of China's overseas-listed internet names. Direxion has run it since 2016, and the leverage resets every day, so a week's result rarely equals twice the week.

QLD The 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

CWEB The fund seeks daily investment results, before fees and expenses, equal to 200% of the CSI Overseas China Internet Index's performance.

QLD 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

  • CWEB A rare corner of the leveraged shelf: 2x daily exposure to the CSI Overseas China Internet Index, not another US large-cap tracker.direxion.com
  • 2x, not 3x. Same daily-reset math as the triple-leveraged crowd (FAS, UDOW), with half the amplification on each move.direxion.com
  • Actively traded, which is what matters in a tool designed to be held for days rather than decades.
  • Trading since 2016, a long operating record for a leveraged fund pointed at a single country and a single sector.
  • QLD 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

  • CWEB 1.27% a year, above the roughly 1.04% median for leveraged bull funds. The fee accrues daily, alongside the leverage.
  • The leverage resets each session. Hold past one day and returns compound away from 2x, with choppy sideways markets the least friendly setting.
  • One country, one sector, doubled. Beijing policy headlines and US listing rules land here at twice the force.
  • QLD 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.

Full CWEB profile⁠

Full QLD profile⁠

CWEB vs QLD Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CWEB vs QLD Cost

Overpaying CWEB vs QLD

$6,046

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

  • CWEB 1.27%

    $22,918

  • QLD 0.89%

    $16,872

$10,000
30 years

Cost over time

  • CWEB 1.27%
  • QLD 0.89%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530CWEB $22,918QLD $16,872

Year by year

YearCWEBQLDOverpaying
10$2,214$1,576$638
20$8,220$5,953$2,267
30$22,918$16,872$6,046

Expense ratio

  • 1.27%CWEB
  • 0.89%QLD, cheaper
  • Middle half of Leveraged Long (2x & Other) funds
  • Median 0.95%

QLD 28th cheapest of 95 funds

CWEB 89th cheapest of 95 funds

CWEB vs QLD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CWEB 9.61%, better
QLD 0.15%
Payout (12M)
CWEB $1.51
QLD $0.12
Last payment
CWEB $0.07
QLD $0.03
Ex-dividend
CWEB Sep 22, 2026
QLD Sep 23, 2026
Paid on
CWEB Sep 29, 2026
QLD Sep 29, 2026
Frequency
CWEB Quarterly
QLD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

CWEBQuarterly · 20 paymentsAll CWEB payments⁠
One bar per payment. 20 payments from 2017 to 2026 YTD. Dec 13, 2017 $15.22; Jun 19, 2018 $0.90; Sep 25, 2018 $1.07; Dec 27, 2018 $1.01; Mar 19, 2019 $0.09; Jun 25, 2019 $0.36; Sep 24, 2019 $0.39; Dec 23, 2019 $0.96; Mar 21, 2023 $0.06; Jun 21, 2023 $0.17; Sep 19, 2023 $0.18; Dec 21, 2023 $0.47; Mar 19, 2024 $0.14; Jun 25, 2024 $0.16; Sep 24, 2024 $0.09; Dec 23, 2024 $1.08; Dec 31, 2025 $1.11; Mar 24, 2026 $0.23; Jun 23, 2026 $0.09; Sep 22, 2026 $0.07. Use the arrow keys to read each point.$0$102017202020232026YTD
QLDQuarterly · 21 paymentsAll QLD payments⁠
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.$0$102017202020232026YTD

CWEB vs QLD Risk

Fall from peak · 5 years

  • CWEB
  • QLD
Oct 29, 2021 to Oct 30, 2026. Worst fall: CWEB −92.3% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
CWEB 64.2%QLD 36.7%, better
Return per unit of riskSharpe ratio, 3 years
CWEB −0.10QLD 1.04, better
Worst fallMax drawdown, 5 years
CWEB −92.3%QLD −63.7%, better
Market sensitivityBeta, 5 years
CWEB 1.28QLD 2.46

CWEB and QLD in the news

All news⁠

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