Skip to content
etf.net

QLD vs TBXU

ProShares Ultra QQQ

QLDANYSE Arca

Direxion Daily Biotech Top 5 Bull 2X ETF

TBXUDNYSE Arca

Overlap

Expense ratio

QLD −0.09pt a year

QLD0.89%TBXU0.98%

Avg volume · 30D

QLD 1111.8×the volume

QLD4.15MTBXU3.73K

QLD vs TBXU Performance

Oct 31, 2025 – Oct 30, 2026

+10.7%QLD+68.1%TBXU

Oct 31, 2025 to Oct 30, 2026. QLD +10.7%. TBXU +68.1%. Use the arrow keys to read each point.−20%0%40%Oct 2025Apr 2026Oct 2026
Expense ratio
QLD 0.89%, better
TBXU 0.98%
Fund size
QLD $13.3B
TBXU $3M
1Y total return
QLD +10.7%
TBXU +68.1%, better
Yield (12M)
QLD 0.15%
TBXU No data
Holdings
QLD 113
TBXU 11
Avg volume (30D)
QLD 4.15M sh, better
TBXU 3.73K sh
NAV per share
QLD $82.56
TBXU $43.68
52W range

ETF.net Grade

QLD: Cost 72, Risk 66, Mission 95, Tradability 100, Holdings 72, Durability 81. TBXU: Cost 29, Risk 65, Mission not scored, Tradability 35, Holdings not scored, Durability 44.
Pillar letters and Scores for QLD, TBXU, with each pillar’s weight
PillarQLDTBXU
Cost30% weightA72HigherD29
Mission25% weightA95Not scored
Risk15% weightB66HigherB65
Tradability15% weightA100HigherD35
Holdings10% weightA72Not scored
Durability5% weightA81HigherC44

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. QLD and TBXU 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 TBXU 70th of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 77
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 37CXWCorgi Ex-U.S. Equities 2x Daily ETFScore 40
  4. Rank 70DTBXUDirexion Daily Biotech Top 5 Bull 2X ETFScore 39
  5. Rank 71DEZJProShares Ultra MSCI JapanScore 38

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

TBXUDDirexion Daily Biotech Top 5 Bull 2X ETF

In short

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.

TBXU Leveraged biotech, boiled down to five names. TBXU targets 200% of the daily move in an equal-weight basket of the largest US-listed biotechs, at 0.98% net of a waiver through September 1, 2027.

Stated mandate

QLD The fund seeks daily investment results, before fees and expenses, equal to twice the daily performance of the Nasdaq-100 Index.

TBXU The fund seeks daily results equal to 200% of the NYSE Biotechnology Top 5 Equal Weight Index before fees and expenses.

Why people hold it

  • 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.
  • TBXU Not a sprawling biotech index: the benchmark holds the top five US-listed biotech stocks, equal weighted, and the fund targets 200% of its daily move.direxion.com
  • Quarterly housekeeping: the index resets to equal weight and swaps in new names if any of the five slip out of the top five by market cap.direxion.com
  • 0.98% net of a waiver through September 1, 2027 (6.27% gross), near the category median for leveraged bull funds and close to ProShares' ROM at 0.93%.

Worth knowing

  • 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.
  • TBXU Daily reset: hold past one day and compounding takes over, so results can drift from 2X the index over that stretch. Direxion says not to expect 2X beyond a day.direxion.com
  • Five stocks, doubled. One failed trial or ugly readout in a single name lands on the whole basket.direxion.com
  • Launched October 2025, still small and thinly traded, which can widen spreads; the 0.98% rests on that waiver through September 1, 2027.

Full QLD profile⁠

Full TBXU profile⁠

QLD vs TBXU 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.

QLD vs TBXU Cost

Overpaying TBXU vs QLD

$1,490

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

  • QLD 0.89%

    $16,872

  • TBXU 0.98%

    $18,362

$10,000
30 years

Cost over time

  • QLD 0.89%
  • TBXU 0.98%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TBXU $18,362QLD $16,872

Year by year

YearQLDTBXUOverpaying
10$1,576$1,729$153
20$5,953$6,504$551
30$16,872$18,362$1,490

Expense ratio

  • 0.89%QLD, cheaper
  • 0.98%TBXU
  • Middle half of Leveraged Long (2x & Other) funds
  • Median 0.95%

QLD 28th cheapest of 95 funds

TBXU 71st cheapest of 95 funds

QLD vs TBXU Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QLD 0.15%
TBXU No data
Payout (12M)
QLD $0.12
TBXU No data
Last payment
QLD $0.03
TBXU $0.14
Ex-dividend
QLD Sep 23, 2026
TBXU Sep 22, 2026
Paid on
QLD Sep 29, 2026
TBXU Sep 29, 2026
Frequency
QLD Quarterly
TBXU Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

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$0.252017202020232026YTD
TBXUQuarterly · 5 paymentsAll TBXU payments⁠
One bar per payment. 5 payments from 2017 to 2026 YTD. Dec 10, 2025 $0.31; Dec 23, 2025 $0.10; Mar 24, 2026 $0.10; Jun 23, 2026 $0.11; Sep 22, 2026 $0.14. Use the arrow keys to read each point.$0$0.252017202020232026YTD

QLD vs TBXU Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
QLD 36.7%TBXU 40.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
QLD 1.04TBXU 1.39since Nov 2025
Worst fallMax drawdown, 5 years
QLD −63.7%TBXU −26.5%since Oct 2025
Market sensitivityBeta, 5 years
QLD 2.46TBXU −0.18

QLD and TBXU in the news

All news⁠

Popular comparisons

  • QLDAvsUYGA

    ProShares Ultra QQQ · ProShares Ultra Financials

    Expense ratio
    0.89% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TBXUDvsUYGA

    Direxion Daily Biotech Top 5 Bull 2X ETF · ProShares Ultra Financials

    Expense ratio
    0.98% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QLDAvsROMA

    ProShares Ultra QQQ · ProShares Ultra Technology

    Expense ratio
    0.89% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TBXUDvsROMA

    Direxion Daily Biotech Top 5 Bull 2X ETF · ProShares Ultra Technology

    Expense ratio
    0.98% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QLDAvsDDMB

    ProShares Ultra QQQ · ProShares Ultra Dow30

    Expense ratio
    0.89% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TBXUDvsDDMB

    Direxion Daily Biotech Top 5 Bull 2X ETF · ProShares Ultra Dow30

    Expense ratio
    0.98% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.