MSOX vs QLD

MSOXDAdvisorShares MSOS Daily Leveraged ETF

QLDAProShares Ultra QQQ

In short

MSOX Two times the daily move of AdvisorShares' US cannabis fund, built with swaps. It is the leveraged expression of one of the market's most volatile sector trades, reset every single day.

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

MSOX The Fund seeks approximately twice the daily total return of the US Cannabis ETF before fees and expenses, using swap agreements and other leveraged techniques to pursue that daily objective.

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

• MSOX A rare wrapper: it targets roughly twice the daily total return of MSOS, the US Cannabis ETF, before fees and expenses.
• The machinery is stated plainly in the prospectus: swap agreements and other leveraged techniques pointed at one daily objective. No stock picking, no discretion.advisorshares.com
• Live since 2022, so the daily-reset math has been tested through several cannabis headline cycles rather than a single quiet stretch.
• Actively traded for a fund of its size, which helps when the whole point is getting in and out on short horizons.

• 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

• MSOX Daily reset. Hold past one session and returns compound off each close, so a choppy stretch can land far from 2x the period move in either direction.
• At 1.42% a year, it costs more than the typical leveraged bull fund, and that toll is paid daily whichever way cannabis moves.
• Leverage stacked on one already-jumpy sector, in a small fund with no income stream. The entire case rests on price, and swings run deep both ways.

• 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 MSOX profile⁠

Full QLD profile⁠