QLD vs USD

QLDAProShares Ultra QQQ

USDBProShares Ultra Semiconductors

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.

USD The 2007 original in leveraged chip exposure: 2x the daily move of a Dow Jones U.S. semiconductor index, in a corner of the market where 3x grabs the headlines. Costs a flat 0.94%, no waiver.

Stated mandate

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

USD The Fund seeks daily results, before fees and expenses, equal to two times the daily performance of the Dow Jones U.S. Semiconductors Index for a single day.

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.

• USD Listed in 2007, among the first leveraged sector ETFs to come to market, and still a multi-billion-dollar, actively traded fund.proshares.com
• Two times, not three. Same daily-reset machinery as triple-leveraged chip funds, with a smaller multiplier doing the work.proshares.com
• 0.94% flat, no temporary waiver holding it down, and a hair above sibling ROM at 0.93%. That lands near the median for leveraged funds.
• Rules-based chip exposure, not a hand-built AI basket: roughly 40 US semiconductor names from a float-adjusted, cap-weighted S&P Dow Jones index.spglobal.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.

• USD The 2x target applies to a single day. Hold longer and compounding takes over, so results over a stretch can differ from 2x the index over that stretch.proshares.com
• Cap weighting plus a narrow industry means a few giants steer the index, and the fund doubles whatever they do that day, up or down.spglobal.com
• Exposure comes from swaps and other financial instruments, so financing and counterparty terms sit between the index and what the fund delivers.proshares.com

Full QLD profile⁠

Full USD profile⁠