QLD vs TSXU: Grades, Fees and Holdings Compared

ProShares Ultra QQQ

QLDANYSE Arca

Direxion Daily Semiconductors Top 5 Bull 2X ETF

TSXUDNYSE Arca

Overlap

9.2%by weight

Expense ratio

QLD −0.08pt a year

QLD0.89%TSXU0.97%

Avg volume · 30D

QLD 22.3×the volume

QLD4.54MTSXU203K

QLD vs TSXU Performance

Nov 7, 2025 – Nov 9, 2026

+13.1%QLD+25.6%TSXU

Expense ratio: QLD 0.89%, better; TSXU 0.97%
Fund size: QLD $11.5B; TSXU $10M
1Y total return: QLD +13.1%; TSXU +25.6%, better
Yield (12M): QLD 0.16%; TSXU No data
Holdings: QLD 114; TSXU 15
Avg volume (30D): QLD 4.54M sh, better; TSXU 203K sh
NAV per share: QLD $74.16; TSXU $34.05
52W range

ETF.net Grade

Pillar letters and Scores for QLD, TSXU, with each pillar’s weight
Pillar	QLD	TSXU
Cost30% weight	A72Higher	D29
Mission25% weight	A96	Not scored
Risk15% weight	B61Higher	C40
Tradability15% weight	A100Higher	C54
Holdings10% weight	B65	Not scored
Durability5% weight	A81Higher	C49

Rank among Leveraged Long (2x & Other) funds

How we build Categories ›

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

Rank 1AQLDProShares Ultra QQQScore 76
Rank 2AUYGProShares Ultra FinancialsScore 74
Rank 70DEZJProShares Ultra MSCI JapanScore 38
Rank 70DTSXUDirexion Daily Semiconductors Top 5 Bull 2X ETFScore 38
Rank 70DUPLTProShares Ultra Platinum K-1 Free ETFScore 38

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

TSXUDDirexion Daily Semiconductors 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.

TSXU Most leveraged chip plays spread across the whole industry. This one goes narrow: 2x the daily move of an equal-weighted index of five semiconductor giants, reset every single day.

Stated mandate

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

TSXU The Fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of the NYSE Semiconductor Top 5 Equal Weight Index.

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.

TSXU Concentration is the point: the reference index holds five of the largest US-listed chip names, equal weighted, so no single mega-cap swallows the basket.direxion.com
Cost sits near the middle of the leveraged-bull pack: 0.97% net of a waiver through September 1, 2027, against 0.94% for broad-basket 2x semis fund USD.
Direxion built it as a matched pair, a 2X bull and a -2X bear on the same index, so traders can lean either way with identical mechanics.direxion.com

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.

TSXU The 2x target applies to one day. Hold longer and each day's return compounds off the last, so multi-day results can drift well away from 2x the index.direxion.com
Five holdings, no diversification cushion. The fund is non-diversified, and one chip name's rough session moves the entire portfolio.direxion.com
That 0.97% is a waived figure: gross runs 5.11%, with the waiver in place through September 1, 2027.

Full QLD profile⁠

Full TSXU profile⁠

QLD vs TSXU Holdings

How QLD and TSXU differ

Overlap by weight

9.2%

Shared holdings make up 13.0% of TSXU and 10.3% of QLD.

About this figure: QLD gets much of its exposure from swaps and futures, which aren’t counted.

TSXU gets much of its exposure from swaps and futures, which aren’t counted.

Level by level

Holdings3 in both9.2%
Sector11 Sectors48.5%
Countryby domicile61.3%
Asset classStocks100%

Sector

Sector weights in QLD and TSXU, widest gap first
Sector	Gap	QLD	TSXU
Technology	TSXU +51.5 points	48.5%	100.0%
Government	QLD +13.2 points	13.2%	0.0%
Communication	QLD +10.0 points	10.0%	0.0%
Consumer Discretionary	QLD +9.8 points	9.8%	0.0%
Consumer Staples	QLD +6.3 points	6.3%	0.0%
Industrials	QLD +5.1 points	5.1%	0.0%
Health Care	QLD +4.5 points	4.5%	0.0%
Utilities	QLD +1.0 points	1.0%	0.0%
Materials	QLD +1.0 points	1.0%	0.0%
Energy	QLD +0.4 points	0.4%	0.0%
Financials	QLD +0.2 points	0.2%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in QLD and TSXU, widest gap first
Country	Gap	QLD	TSXU
United States	QLD +36.0 points	97.3%	61.3%
Taiwan	TSXU +20.9 points	0.0%	20.9%
South Korea	TSXU +17.8 points	0.0%	17.8%
Canada	QLD +1.0 points	1.0%	0.0%
Netherlands	QLD +0.9 points	0.8%	0.0%
Other countries (3)	QLD +0.8 points	0.8%	0.0%

Outside the US: TSXU 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

QLD51.0%
TSXU93.5%

Securities held

QLD113
TSXU7

Asset class

QLD: Stocks
TSXU: Stocks

Holdings

Only in QLD110
In both3
Only in TSXU4

Only in QLD

110 securities, 81.5% of QLD by weight

Proshares Genius Mny Mkt Etf11.96%
Apple Inc6.38%
Microsoft Corp5.03%
Amazon.com Inc3.57%
Advanced Micro Devices2.59%
Tesla Inc2.40%
Meta Platforms Inc-Class A2.32%
Walmart Inc2.15%
Alphabet Inc-Cl A2.14%
Space Exploration Techn-Cl A2.03%
Alphabet Inc-Cl C2.00%
Costco Wholesale Corp1.65%
TREASURY BILL, 0%, due 2026-12-291.52%
Cisco Systems Inc1.30%
Palantir Technologies Inc-A1.30%
Intel Corp1.04%
Applied Materials Inc0.93%
Netflix Inc0.93%
Palo Alto Networks Inc0.90%
Texas Instruments Inc0.89%
Lam Research Corp0.88%
Amgen Inc0.88%
Linde PLC0.84%
Crowdstrike Holdings Inc - A0.78%
TREASURY BILL, 0%, due 2027-01-190.78%
Gilead Sciences Inc0.73%
Pepsico Inc0.68%
Kla Corp0.64%
Shopify Inc - Class A0.63%
Analog Devices Inc0.62%
T-Mobile Us Inc0.61%
Qualcomm Inc0.61%
Intuitive Surgical Inc0.56%
Vertex Pharmaceuticals Inc0.49%
Asml Holding Nv-Ny Reg Shs0.47%
Marvell Technology Inc0.44%
TREASURY BILL, 0%, due 2026-12-010.43%
TREASURY BILL, 0%, due 2026-12-240.43%
TREASURY BILL, 0%, due 2027-01-260.43%
TREASURY BILL, 0%, due 2027-02-110.43%
TREASURY BILL, 0%, due 2027-02-160.43%
Sandisk Corp0.43%
Booking Holdings Inc0.43%
Automatic Data Processing0.42%
Starbucks Corp0.42%
Applovin Corp-Class A0.42%
Marriott International -Cl A0.38%
Seagate Technology Holdings0.37%
Moderna Inc0.36%
Adobe Inc0.34%

Only in TSXU

4 securities, 29.2% of TSXU by weight

Goldman Finl Sq Trsry Inst 50619.04%
Taiwan Semiconductor-Sp Adr4.73%
Sk Hynix Inc-Adr3.66%
Goldman Sachs Fin Gov 465 Institut1.74%

Weight gaps

All 3 Holdings in both funds, largest gap first.

Holding weights in QLD and TSXU, widest gap first
Holding	Gap	QLD	TSXU
Broadcom IncAVGO	TSXU +2.64 points	1.79%	4.43%
Micron Technology IncMU	TSXU +1.12 points	2.75%	3.87%
NVIDIA CorpNVDA	QLD +1.08 points	5.75%	4.67%

All 121 QLD holdings⁠All TSXU 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 TSXU Cost

Overpaying TSXU vs QLD

$1,326

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

QLD 0.89%
$16,872
TSXU 0.97%
$18,198

Amount$10,000

Years30 years

Cost over time

QLD 0.89%
TSXU 0.97%
Overpaying

Year by year

Year	QLD	TSXU	Overpaying
10	$1,576	$1,712	$136
20	$5,953	$6,443	$490
30	$16,872	$18,198	$1,326

Expense ratio

0.89%QLD, cheaper
0.97%TSXU

QLD0.89%TSXU0.97%

0.20%2.19%

Middle half of Leveraged Long (2x & Other) funds
Median 0.95%

QLD 28th cheapest of 95 funds

TSXU 68th cheapest of 95 funds

QLD vs TSXU Dividends

Last 12 months to Nov 9, 2026

Yield (12M): QLD 0.16%; TSXU No data
Payout (12M): QLD $0.12; TSXU No data
Last payment: QLD $0.03; TSXU $0.09
Ex-dividend: QLD Sep 23, 2026; TSXU Sep 22, 2026
Paid on: QLD Sep 29, 2026; TSXU Sep 29, 2026
Frequency: QLD Quarterly; TSXU Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QLDQuarterly · 21 paymentsAll QLD payments⁠

TSXUQuarterly · 5 paymentsAll TSXU payments⁠

QLD vs TSXU 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%TSXU 91.7%since Nov 2025
Return per unit of riskSharpe ratio, 3 years: QLD 1.04TSXU 0.67since Nov 2025
Worst fallMax drawdown, 5 years: QLD −63.7%TSXU −55.0%since Oct 2025
Market sensitivityBeta, 5 years: QLD 2.48TSXU 5.63; Market = 1

QLD and TSXU in the news

All news⁠

ETF Filings
Simplify files six Smart Leverage ETFs that target 2x without a daily reset
Sep 11, 2026QLD

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QLD vs TSXU

In short

Stated mandate

Why people hold it

Worth knowing

How QLD and TSXU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QLD

Only in TSXU

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Simplify files six Smart Leverage ETFs that target 2x without a daily reset

How QLD and TSXU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QLD

Only in TSXU

Weight gaps