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MAGX vs QLD

Roundhill Daily 2X Long Magnificent Seven ETF

MAGXCCboe

ProShares Ultra QQQ

QLDANYSE Arca

Overlap

Expense ratio

QLD −0.06pt a year

MAGX0.95%QLD0.89%

Avg volume · 30D

QLD 72.6×the volume

MAGX57.1KQLD4.15M

MAGX vs QLD Performance

Oct 31, 2025 – Oct 30, 2026

−7.4%MAGX+10.7%QLD

Oct 31, 2025 to Oct 30, 2026. MAGX −7.4%. QLD +10.7%. Use the arrow keys to read each point.−30%−20%20%30%Oct 2025Apr 2026Oct 2026
Expense ratio
MAGX 0.95%
QLD 0.89%, better
Fund size
MAGX $63M
QLD $13.3B
1Y total return
MAGX −7.4%
QLD +10.7%, better
Yield (12M)
MAGX 2.11%, better
QLD 0.15%
Holdings
MAGX 4
QLD 113
Avg volume (30D)
MAGX 57.1K sh
QLD 4.15M sh, better
NAV per share
MAGX $55.51
QLD $82.56
52W range

ETF.net Grade

MAGX: Cost 51, Risk 44, Mission 83, Tradability 70, Holdings 44, Durability 60. QLD: Cost 72, Risk 66, Mission 95, Tradability 100, Holdings 72, Durability 81.
Pillar letters and Scores for MAGX, QLD, with each pillar’s weight
PillarMAGXQLD
Cost30% weightC51A72Higher
Mission25% weightA83A95Higher
Risk15% weightC44B66Higher
Tradability15% weightA70A100Higher
Holdings10% weightC44A72Higher
Durability5% weightB60A81Higher

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. MAGX 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 MAGX 22nd of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 77
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 20BYCLProShares Ultra YenScore 55
  4. Rank 22CMAGXRoundhill Daily 2X Long Magnificent Seven ETFScore 54
  5. Rank 22CSAAProShares Ultra SmallCap600Score 54

Our read on each fund

ETF.net Research

MAGXCRoundhill Daily 2X Long Magnificent Seven ETF

QLDAProShares Ultra QQQ

In short

MAGX Most leveraged funds amplify a broad index. MAGX amplifies seven stocks, aiming for two times the daily move of Roundhill's own equal-weight Magnificent Seven fund, at 0.95% net of a waiver through May 1, 2027.

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

MAGX The Fund seeks daily leveraged results equal to two times the performance of the Roundhill Magnificent Seven ETF over a single trading day.

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

  • MAGX A scalpel, not a shovel. The reference basket is seven mega caps held at equal weight and rebalanced quarterly, not the broad benchmarks behind leveraged peers like ROM and QLD.roundhillinvestments.com
  • 0.95% a year, net of a waiver through May 1, 2027, lands near the leveraged-bull median and level with DDM. QLD is cheaper at 0.89% net of a waiver through September 30, 2027.
  • Exposure runs through total return swaps plus Mag 7 ETF shares inside a 1940 Act fund, and it has hit its stated 2x daily mark closely for a daily-reset product.roundhillinvestments.com
  • Listed in 2024 as the geared sibling of the fund Roundhill bills as the first ETF built on the Magnificent Seven, so basket and leverage live under one roof.roundhillinvestments.com
  • 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

  • MAGX The 2x resets every day. Over longer holds returns compound, and the filings note a choppy, flat stretch in the basket can still leave the fund down.sec.gov
  • Leverage on seven names runs hot: the prospectus states an investor could lose the full principal in one day if the basket falls more than 50%.roundhillinvestments.com
  • Roundhill frames it as a short-term trading tool for sophisticated market participants, not a set-and-forget holding.roundhillinvestments.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 MAGX profile⁠

Full QLD profile⁠

MAGX 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.

MAGX vs QLD Cost

Overpaying MAGX vs QLD

$997

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

  • MAGX 0.95%

    $17,869

  • QLD 0.89%

    $16,872

$10,000
30 years

Cost over time

  • MAGX 0.95%
  • 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$20K051015202530MAGX $17,869QLD $16,872

Year by year

YearMAGXQLDOverpaying
10$1,678$1,576$102
20$6,322$5,953$369
30$17,869$16,872$997

Expense ratio

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

QLD 28th cheapest of 95 funds

MAGX 32nd cheapest of 95 funds

MAGX vs QLD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MAGX 2.11%, better
QLD 0.15%
Payout (12M)
MAGX $1.17
QLD $0.12
Last payment
MAGX $1.17
QLD $0.03
Ex-dividend
MAGX Dec 30, 2025
QLD Sep 23, 2026
Paid on
MAGX Dec 31, 2025
QLD Sep 29, 2026
Frequency
MAGX Irregular
QLD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MAGXIrregular · 2 paymentsAll MAGX payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Dec 30, 2024 $0.40; Dec 30, 2025 $1.17. Use the arrow keys to read each point.$0$12017202020232026YTD
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$12017202020232026YTD

MAGX vs QLD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MAGX 43.4%since Mar 2024QLD 36.7%
Return per unit of riskSharpe ratio, 3 years
MAGX 0.80since Mar 2024QLD 1.04
Worst fallMax drawdown, 5 years
MAGX −54.2%since Feb 2024QLD −63.7%
Market sensitivityBeta, 5 years
MAGX 2.96QLD 2.46

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