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QLD vs UGLD

ProShares Ultra QQQ

QLDANYSE Arca

Direxion Daily Gold Bull 2X ETF

UGLDDNYSE Arca

Overlap

Expense ratio

QLD −0.18pt a year

QLD0.89%UGLD1.07%

Avg volume · 30D

QLD 61.3×the volume

QLD4.54MUGLD74.1K

QLD vs UGLD Performance

Aug 7, 2026 – Nov 9, 2026

−14.1%QLD−12.8%UGLD

Aug 7, 2026 to Nov 9, 2026. QLD −14.1%. UGLD −12.8%. Use the arrow keys to read each point.0%10%Aug 2026Sep 2026Nov 2026
Expense ratio
QLD 0.89%, better
UGLD 1.07%
Fund size
QLD $11.5B
UGLD $18M
1Y total return
QLD +13.1%
UGLD No data
Yield (12M)
QLD 0.16%
UGLD No data
Holdings
QLD 114
UGLD 8
Avg volume (30D)
QLD 4.54M sh, better
UGLD 74.1K sh
NAV per share
QLD $74.16
UGLD $18.63
52W range

ETF.net Grade

QLD: Cost 72, Risk 61, Mission 96, Tradability 100, Holdings 65, Durability 81. UGLD: Cost 19, Risk 40, Mission not scored, Tradability 51, Holdings not scored, Durability 46.
Pillar letters and Scores for QLD, UGLD, with each pillar’s weight
PillarQLDUGLD
Cost30% weightA72HigherF19
Mission25% weightA96Not scored
Risk15% weightB61HigherC40
Tradability15% weightA100HigherC51
Holdings10% weightB65Not 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 UGLD 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 UGLD 82nd of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 76
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 82DINDLDirexion Daily MSCI India Bull 2X ETFScore 33
  4. Rank 82DUGLDDirexion Daily Gold Bull 2X ETFScore 33
  5. Rank 84DBTGDSTKd 100% Bitcoin & 100% Gold ETFScore 31

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

UGLDDDirexion Daily Gold 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.

UGLD Two times gold, re-struck every session. UGLD targets 200% of gold's daily price move with the SPDR Gold Trust as its reference, at 1.07% net of a waiver through September 1, 2027. A trading tool, not a bar in a vault.

Stated mandate

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

UGLD The fund seeks daily investment results, before fees and expenses, equal to 200% of gold’s price performance.

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.
  • UGLD The mandate is narrow and legible: 200% of gold's daily price move, referenced to a single gold holding (GLD). No miners, no basket to drift away from the metal.direxion.comdirexion.com 2
  • Leverage arrives inside a plain ETF share, so the 2x daily target needs no margin account, and an intraday value (UGLD.IV) publishes through the session.direxion.com
  • Moderately traded for a fund launched in 2026, and Direxion waives part of the 1.09% gross fee down to 1.07% net through September 1, 2027.

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.
  • UGLD Daily reset is the whole story: held longer than a day, compounding takes over and multi-week results can diverge sharply from 2x gold's move, especially in choppy tape.direxion.com
  • Cost sits above the leveraged-bull median: 1.07% net of a waiver through September 1, 2027, against 0.89% net of a waiver through September 30, 2027 at QLD and 0.93% at ROM.
  • Launched in 2026 and still small, so there is only a short record of how tightly daily results have tracked the 200% target.

Full QLD profile⁠

Full UGLD profile⁠

QLD vs UGLD 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 UGLD Cost

Overpaying UGLD vs QLD

$2,943

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

  • QLD 0.89%

    $16,872

  • UGLD 1.07%

    $19,815

$10,000
30 years

Cost over time

  • QLD 0.89%
  • UGLD 1.07%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UGLD $19,815QLD $16,872

Year by year

YearQLDUGLDOverpaying
10$1,576$1,881$305
20$5,953$7,046$1,093
30$16,872$19,815$2,943

Expense ratio

  • 0.89%QLD, cheaper
  • 1.07%UGLD
  • Middle half of Leveraged Long (2x & Other) funds
  • Median 0.95%

QLD 28th cheapest of 95 funds

UGLD 80th cheapest of 95 funds

QLD vs UGLD Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
QLD 0.16%
UGLD No data
Payout (12M)
QLD $0.12
UGLD No data
Last payment
QLD $0.03
UGLD $0.08
Ex-dividend
QLD Sep 23, 2026
UGLD Sep 22, 2026
Paid on
QLD Sep 29, 2026
UGLD Sep 29, 2026
Frequency
QLD Quarterly
UGLD 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
UGLDQuarterly · 2 paymentsAll UGLD payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Jun 23, 2026 $0.05; Sep 22, 2026 $0.08. Use the arrow keys to read each point.$0$0.102017202020232026YTD

QLD vs UGLD 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%UGLD No data
Return per unit of riskSharpe ratio, 3 years
QLD 1.04UGLD No data
Worst fallMax drawdown, 5 years
QLD −63.7%UGLD No data
Market sensitivityBeta, 5 years
QLD 2.48UGLD 0.00

QLD and UGLD in the news

All news⁠

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