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QLD vs UBR

ProShares Ultra QQQ

QLDANYSE Arca

ProShares Ultra MSCI Brazil Capped

UBRCNYSE Arca

Overlap

Expense ratio

QLD −0.06pt a year

QLD0.89%UBR0.95%

Avg volume · 30D

QLD 1473.5×the volume

QLD4.54MUBR3.08K

10Y return · a year

QLD +40.5pt

QLD+31.3%UBR−9.2%

QLD vs UBR Performance

Nov 9, 2021 – Nov 9, 2026

+81.1%QLD+16.5%UBR

Nov 9, 2021 to Nov 9, 2026. QLD +81.1%. UBR +16.5%. Use the arrow keys to read each point.−50%50%Nov 2021May 2024Nov 2026
Expense ratio
QLD 0.89%, better
UBR 0.95%
Fund size
QLD $11.5B
UBR $2M
1Y total return
QLD +13.1%, better
UBR −9.0%
Yield (12M)
QLD 0.16%
UBR 2.38%, better
Holdings
QLD 114
UBR 1
Avg volume (30D)
QLD 4.54M sh, better
UBR 3.08K sh
NAV per share
QLD $74.16
UBR $22.41
52W range

ETF.net Grade

QLD: Cost 72, Risk 61, Mission 96, Tradability 100, Holdings 65, Durability 81. UBR: Cost 51, Risk 29, Mission not scored, Tradability 41, Holdings not scored, Durability 57.
Pillar letters and Scores for QLD, UBR, with each pillar’s weight
PillarQLDUBR
Cost30% weightA72HigherC51
Mission25% weightA96Not scored
Risk15% weightB61HigherD29
Tradability15% weightA100HigherC41
Holdings10% weightB65Not scored
Durability5% weightA81HigherB57

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 UBR 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 UBR 37th of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 76
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 37CTSYWRoundhill Treasury Bond Weeklypay ETFScore 40
  4. Rank 37CUBRProShares Ultra MSCI Brazil CappedScore 40
  5. Rank 37CUCOPProShares TrustScore 40

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

UBRCProShares Ultra MSCI Brazil Capped

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.

UBR Two times the daily move of Brazil's large-cap index in one ticker, with index caps that keep Petrobras and Vale from swallowing the basket. Leverage resets every day. 0.95% net of a waiver through September 30, 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.

UBR UBR seeks daily results equal to two times the daily performance of the MSCI Brazil 25/50 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.
  • UBR Aims for 2x the daily performance of the MSCI Brazil 25/50 Index, before fees, in a brokerage account. No margin account, no swap desk, one ticker.proshares.com
  • The 25/50 index rules cap any single issuer at 25% and hold all 5%-plus names to 50% combined, so Brazil's oil and mining giants cannot run away with the weighting.msci.com
  • At 0.95% net of a waiver through September 30, 2027, the fee sits near the leveraged-bull median and level with ProShares' 2x Dow fund, DDM, at 0.95%.
  • Listed since 2010, so the structure has run through several full Brazilian boom-and-bust cycles.

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.
  • UBR Leverage resets daily. Hold longer than a day and compounding takes over, so results can drift well away from 2x the index's move for the period, especially in choppy markets.proshares.com
  • Gross expenses run 3.26%, trimmed to 0.95% by a waiver through September 30, 2027. Worth tracking what the fee looks like after that date.
  • A small fund that trades lightly next to the big 2x index products, which can mean wider spreads. Limit orders earn their keep here.

Full QLD profile⁠

Full UBR profile⁠

QLD vs UBR 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 UBR Cost

Overpaying UBR vs QLD

$997

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

  • QLD 0.89%

    $16,872

  • UBR 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QLD 0.89%
  • UBR 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UBR $17,869QLD $16,872

Year by year

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

Expense ratio

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

QLD 28th cheapest of 95 funds

UBR 32nd cheapest of 95 funds

QLD vs UBR Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
QLD 0.16%
UBR 2.38%, better
Payout (12M)
QLD $0.12
UBR $0.56
Last payment
QLD $0.03
UBR $0.17
Ex-dividend
QLD Sep 23, 2026
UBR Sep 23, 2026
Paid on
QLD Sep 29, 2026
UBR Sep 29, 2026
Frequency
QLD Quarterly
UBR 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
UBRQuarterly · 19 paymentsAll UBR payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.08; Mar 20, 2019 $0.10; Jun 25, 2019 $0.09; Sep 25, 2019 $0.25; Dec 24, 2019 $0.03; Jun 21, 2023 $0.0027; Sep 20, 2023 $0.17; Dec 20, 2023 $0.22; Mar 20, 2024 $0.16; Jun 26, 2024 $0.26; Sep 25, 2024 $0.40; Dec 23, 2024 $0.29; Mar 26, 2025 $0.12; Jun 25, 2025 $0.16; Sep 24, 2025 $0.13; Dec 24, 2025 $0.13; Mar 25, 2026 $0.13; Jun 24, 2026 $0.12; Sep 23, 2026 $0.17. Use the arrow keys to read each point.$0$0.252017202020232026YTD

QLD vs UBR Risk

Fall from peak · 5 years

  • QLD
  • UBR
Nov 9, 2021 to Nov 9, 2026. Worst fall: QLD −63.7% · Dec 2022. Use the arrow keys to read each point.−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
QLD 36.7%, betterUBR 50.8%
Return per unit of riskSharpe ratio, 3 years
QLD 1.04, betterUBR 0.21
Worst fallMax drawdown, 5 years
QLD −63.7%, betterUBR −65.2%
Market sensitivityBeta, 5 years
QLD 2.48UBR 0.80

QLD and UBR in the news

All news⁠

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