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QLD vs UCOP

ProShares Ultra QQQ

QLDANYSE Arca

ProShares Trust

UCOPCNYSE Arca

Overlap

Expense ratio

QLD −0.06pt a year

QLD0.89%UCOP0.95%

Avg volume · 30D

QLD 2225.3×the volume

QLD4.15MUCOP1.86K

QLD vs UCOP Performance

Jul 31, 2026 – Oct 30, 2026

−1.3%QLD−8.1%UCOP

Jul 31, 2026 to Oct 30, 2026. QLD −1.3%. UCOP −8.1%. Use the arrow keys to read each point.5%10%15%20%Jul 2026Sep 2026Oct 2026
Expense ratio
QLD 0.89%, better
UCOP 0.95%
Fund size
QLD $13.3B
UCOP $4M
1Y total return
QLD +10.7%
UCOP No data
Yield (12M)
QLD 0.15%
UCOP No data
Holdings
QLD 113
UCOP 1
Avg volume (30D)
QLD 4.15M sh, better
UCOP 1.86K sh
NAV per share
QLD $82.56
UCOP $39.14
52W range

ETF.net Grade

QLD: Cost 72, Risk 66, Mission 95, Tradability 100, Holdings 72, Durability 81. UCOP: Cost 51, Risk 53, Mission 57, Tradability 46, Holdings not scored, Durability 46.
Pillar letters and Scores for QLD, UCOP, with each pillar’s weight
PillarQLDUCOP
Cost30% weightA72HigherC51
Mission25% weightA95HigherB57
Risk15% weightB66HigherC53
Tradability15% weightA100HigherC46
Holdings10% weightA72Not scored
Durability5% weightA81HigherC46

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

  1. Rank 1AQLDProShares Ultra QQQScore 77
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 37CUBRProShares Ultra MSCI Brazil CappedScore 40
  4. Rank 37CUCOPProShares TrustScore 40
  5. Rank 37CUSMXCorgi U.S. Mid-Cap 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

UCOPCProShares Trust

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.

UCOP Doubling down on copper, minus the Schedule K-1: UCOP targets 2x the metal's daily move inside a 1940 Act fund that sends a Form 1099. Fee is 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.

UCOP The fund seeks daily results equal to two times the daily performance of copper 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.
  • UCOP Commodity leverage without the tax-season paperwork: ProShares launched it in April 2026 alongside its 2x platinum and palladium funds, and shareholders get Form 1099 reporting, not a Schedule K-1.proshares.com
  • The mandate is one line: two times the daily performance of copper before fees, benchmarked to the United States Copper Index Fund (CPER). No stock picking, no overlay, no guesswork about what you own.
  • Priced at 0.95% net of a waiver through September 30, 2027, near the median for leveraged bull funds and level with ProShares' long-running Ultra Dow30 (DDM) at 0.95%.

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.
  • UCOP The 2x target resets daily and compounds. Over any period longer than a day, results can differ significantly from 2x the move in copper, and choppy stretches work against the math.proshares.com
  • That 0.95% is the net figure. Gross expenses run 3.44%, and the gap is covered by a waiver that runs through September 30, 2027.
  • Young and small next to ProShares' veteran equity Ultras, and it trades lightly, which can show up as wider bid-ask spreads.

Full QLD profile⁠

Full UCOP profile⁠

QLD vs UCOP 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 UCOP Cost

Overpaying UCOP vs QLD

$997

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

  • QLD 0.89%

    $16,872

  • UCOP 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QLD 0.89%
  • UCOP 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$20K051015202530UCOP $17,869QLD $16,872

Year by year

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

QLD 28th cheapest of 95 funds

UCOP 32nd cheapest of 95 funds

QLD vs UCOP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QLD 0.15%
UCOP No data
Payout (12M)
QLD $0.12
UCOP No data
Last payment
QLD $0.03
UCOP $0.12
Ex-dividend
QLD Sep 23, 2026
UCOP Sep 23, 2026
Paid on
QLD Sep 29, 2026
UCOP Sep 29, 2026
Frequency
QLD Quarterly
UCOP 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$0.102017202020232026YTD
UCOPQuarterly · 2 paymentsAll UCOP payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Jun 24, 2026 $0.05; Sep 23, 2026 $0.12. Use the arrow keys to read each point.$0$0.102017202020232026YTD

QLD vs UCOP 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%UCOP No data
Return per unit of riskSharpe ratio, 3 years
QLD 1.04UCOP No data
Worst fallMax drawdown, 5 years
QLD −63.7%UCOP No data
Market sensitivityBeta, 5 years
QLD 2.46UCOP 2.11

QLD and UCOP in the news

All news⁠

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