QLD vs UJB

QLDAProShares Ultra QQQ

UJBBProShares Ultra High Yield

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.

UJB Leverage, but on junk bonds instead of stocks. UJB aims for twice the daily move of the Markit iBoxx $ Liquid High Yield Index, a credit trade sitting in a category stuffed with 2x Nasdaq and 2x tech.

Stated mandate

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

UJB UJB seeks daily investment results, before fees and expenses, corresponding to twice the daily performance of the Markit iBoxx $ Liquid High Yield 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.

• UJB The rare leveraged credit play: 2x the daily move of an index of dollar-denominated high yield corporate bonds, in a peer group dominated by stock-index leverage.proshares.com
• Trading since 2011, a long run for a leveraged bond fund, and coupons flow through on a quarterly distribution schedule.
• Fee is 0.95% net of a waiver through September 30, 2027, near the category median and level with stablemate DDM (0.95%), just above QLD (0.89%, net of a waiver through September 30, 2027).
• The index behind it holds only bonds rated BB+/Ba1 or lower and caps any single issuer at 3%, so the exposure is broad junk credit, not a handful of borrowers.proshares.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.

• UJB Leverage resets every day. Hold longer and returns compound, so results over a stretch can differ from 2x the index's move over that same stretch, especially in choppy markets.proshares.com
• Gross expenses are 1.63%; the 0.95% net rate rests on a waiver running through September 30, 2027.
• Small fund, light trading next to the big equity Ultras, so spreads and order size carry more weight here.

Full QLD profile⁠

Full UJB profile⁠