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QLD vs URE

ProShares Ultra QQQ

QLDANYSE Arca

ProShares Ultra Real Estate

UREBNYSE Arca

Overlap

12.0%by weight

Expense ratio

QLD −0.06pt a year

QLD0.89%URE0.95%

Avg volume · 30D

QLD 1486.0×the volume

QLD4.54MURE3.06K

10Y return · a year

QLD +26.9pt

QLD+31.3%URE+4.4%

QLD vs URE Performance

Nov 9, 2021 – Nov 9, 2026

+81.1%QLD−26.3%URE

Nov 9, 2021 to Nov 9, 2026. QLD +81.1%. URE −26.3%. Use the arrow keys to read each point.−50%0%50%Nov 2021May 2024Nov 2026
Expense ratio
QLD 0.89%, better
URE 0.95%
Fund size
QLD $11.5B
URE $53M
1Y total return
QLD +13.1%
URE +16.4%, better
Yield (12M)
QLD 0.16%
URE 1.87%, better
Holdings
QLD 114
URE 32
Avg volume (30D)
QLD 4.54M sh, better
URE 3.06K sh
NAV per share
QLD $74.16
URE $67.56
52W range

ETF.net Grade

QLD: Cost 72, Risk 61, Mission 96, Tradability 100, Holdings 65, Durability 81. URE: Cost 51, Risk 67, Mission not scored, Tradability 62, Holdings 66, Durability 71.
Pillar letters and Scores for QLD, URE, with each pillar’s weight
PillarQLDURE
Cost30% weightA72HigherC51
Mission25% weightA96Not scored
Risk15% weightB61B67Higher
Tradability15% weightA100HigherB62
Holdings10% weightB65B66Higher
Durability5% weightA81HigherA71

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 URE 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 URE 14th of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 76
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 14BUBTProShares Ultra 20+ Year TreasuryScore 58
  4. Rank 14BUREProShares Ultra Real EstateScore 58
  5. Rank 16BUXIProShares Ultra IndustrialsScore 57

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

UREBProShares Ultra Real Estate

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.

URE A 2x dial on the real estate slice of the S&P 500: about 40 landlords, towers and warehouses, geared up and reset every single day. Listed January 2007, same mandate ever since.

Stated mandate

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

URE The fund seeks daily results, before fees and expenses, equal to twice the daily performance of the S&P Real Estate Select Sector SM 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.
  • URE Listed in January 2007, URE has run the same 2x real estate mandate through the housing bust and everything after, a long life for a geared sector fund.proshares.com
  • The reference index holds the real estate companies inside the S&P 500, about 40 large names, and URE targets twice that index's daily move.cboe.com
  • 0.95% net of a waiver through September 30, 2027, near the category median: level with DDM at 0.95%, just above QLD at 0.89% (net of a waiver through September 30, 2027).
  • One of the stronger builds in a crowded leveraged bull field: a plain large-cap sector index, a clear 2x mandate and a shop that has kept the lights on since 2007.

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.
  • URE The 2x target applies to one day. Hold longer and each day compounds on the last, so multi-day results can land above or below twice the index move, especially in choppy tape.proshares.com
  • Thinly traded next to the headline geared funds, with a smaller asset base, so spreads can widen and larger orders need more care.
  • The 0.95% rate leans on a waiver running through September 30, 2027; gross expenses are 1.12% without it.

Full QLD profile⁠

Full URE profile⁠

QLD vs URE Holdings

How QLD and URE differ

Overlap by weight

12.0%

Shared holdings make up 14.1% of URE and 12.0% of QLD.

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

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

Level by level

  • Holdings1 in both12.0%
  • Sector12 Sectors13.2%
  • Countryby domicile97.3%
  • Asset classStocks100%

Sector

Sector weights in QLD and URE, widest gap first
SectorMore in QLDMore in UREGap
Real EstateURE +83.9 points
TechnologyQLD +48.5 points
CommunicationQLD +10.0 points
Consumer DiscretionaryQLD +9.8 points
Consumer StaplesQLD +6.3 points
IndustrialsQLD +5.1 points
Health CareQLD +4.5 points
GovernmentURE +2.9 points
UtilitiesQLD +1.0 points
MaterialsQLD +1.0 points
EnergyQLD +0.4 points
FinancialsQLD +0.2 points

Country, concentration and asset class

Country by domicile

Country weights in QLD and URE, widest gap first
CountryMore in QLDMore in UREGap
United StatesURE +2.7 points
CanadaQLD +1.0 points
NetherlandsQLD +0.9 points
Other countries (3)QLD +0.8 points

Concentration

Weight in the 10 largest Holdings

  • QLD51.0%
  • URE65.7%

Securities held

  • QLD113
  • URE31

Asset class

QLD
Stocks
URE
Stocks

Holdings

  • Only in QLD112
  • In both1
  • Only in URE30

Only in QLD

112 securities, 79.8% of QLD by weight

  • Apple Inc6.38%
  • NVIDIA Corp5.75%
  • Microsoft Corp5.03%

Only in URE

30 securities, 69.8% of URE by weight

  • Welltower Inc8.11%
  • Prologis Inc5.54%
  • Equinix Inc4.59%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in QLD and URE, widest gap first
HoldingMore in QLDMore in UREGap
Proshares Genius Mny Mkt EtfIQMMURE +2.13 points

All 121 QLD holdings⁠All 40 URE 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 URE Cost

Overpaying URE vs QLD

$997

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

  • QLD 0.89%

    $16,872

  • URE 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QLD 0.89%
  • URE 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$20K051015202530URE $17,869QLD $16,872

Year by year

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

QLD 28th cheapest of 95 funds

URE 32nd cheapest of 95 funds

QLD vs URE Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
QLD 0.16%
URE 1.87%, better
Payout (12M)
QLD $0.12
URE $1.31
Last payment
QLD $0.03
URE $0.24
Ex-dividend
QLD Sep 23, 2026
URE Sep 23, 2026
Paid on
QLD Sep 29, 2026
URE Sep 29, 2026
Frequency
QLD Quarterly
URE 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$0.502017202020232026YTD
UREQuarterly · 35 paymentsAll URE payments⁠
One bar per payment. 35 payments from 2017 to 2026 YTD. Jun 21, 2017 $0.11; Sep 27, 2017 $0.06; Dec 26, 2017 $0.44; Mar 21, 2018 $0.01; Jun 20, 2018 $0.17; Sep 26, 2018 $0.25; Dec 26, 2018 $0.44; Mar 20, 2019 $0.01; Jun 25, 2019 $0.36; Sep 25, 2019 $0.15; Dec 24, 2019 $0.44; Mar 25, 2020 $0.14; Jun 24, 2020 $0.07; Sep 23, 2020 $0.08; Dec 23, 2020 $0.30; Jun 22, 2021 $0.08; Sep 22, 2021 $0.14; Dec 23, 2021 $0.46; Jun 22, 2022 $0.03; Sep 21, 2022 $0.31; Dec 22, 2022 $0.38; Jun 21, 2023 $0.12; Sep 20, 2023 $0.26; Dec 20, 2023 $0.46; Mar 20, 2024 $0.04; Jun 26, 2024 $0.53; Sep 25, 2024 $0.32; Dec 23, 2024 $0.42; Mar 26, 2025 $0.26; Jun 25, 2025 $0.29; Sep 24, 2025 $0.36; Dec 24, 2025 $0.51; Mar 25, 2026 $0.21; Jun 24, 2026 $0.34; Sep 23, 2026 $0.24. Use the arrow keys to read each point.$0$0.502017202020232026YTD

QLD vs URE Risk

Fall from peak · 5 years

  • QLD
  • URE
Nov 9, 2021 to Nov 9, 2026. Worst fall: URE −63.7% · Oct 2023. 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%URE 33.4%, better
Return per unit of riskSharpe ratio, 3 years
QLD 1.04, betterURE 0.49
Worst fallMax drawdown, 5 years
QLD −63.7%URE −63.7%Same figure. Both funds show the same value, so neither comes out ahead.
Market sensitivityBeta, 5 years
QLD 2.48URE 1.88

QLD and URE in the news

All news⁠

Popular comparisons

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