EZJ vs QLD

EZJDProShares Ultra MSCI Japan

QLDAProShares Ultra QQQ

In short

EZJ The only US ETF built to track twice the MSCI Japan Index's daily move, listed since 2009. A daily-reset trade on Japan's large and mid caps, engineered for day-length holding periods.

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

EZJ The fund seeks magnified positive daily exposure to the MSCI Japan Index, targeting twice the index's daily return before fees and expenses.

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

• EZJ ProShares states EZJ is the only ETF targeting 2x the daily return of the MSCI Japan Index, so there's no cheaper clone sitting next to it on the shelf.proshares.com
• The index underneath is Japan's blue-chip core: MSCI's large and mid cap benchmark, covering roughly 85% of the market's free float. Not a narrow sector slice.msci.com
• Listed in 2009, a long tenure for a leveraged fund, and run by a shop whose whole business is leveraged and inverse products.proshares.com
• Gets its 2x through swaps and futures, so the magnified exposure arrives without you running a margin account.proshares.comproshares.com 2

• 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

• EZJ 1.18% net of a waiver through September 30, 2027 (2.46% gross), above the category median and above peers like QLD at 0.89%, itself net of a waiver through that date.
• The 2x target resets daily. Over longer stretches, returns compound off each day's new base and can land well above or below 2x the index, especially after choppy markets.proshares.com
• A small fund that trades thinly, so spreads can run wider than on headline leveraged ETFs. Yen moves against the dollar also ride along inside the index's dollar return.proshares.com

• 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 EZJ profile⁠

Full QLD profile⁠