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QLD vs UVXY

ProShares Ultra QQQ

QLDANYSE Arca

ProShares Ultra VIX Short-Term Futures ETF

UVXYCCboe

Overlap

12.8%by weight

Expense ratio

QLD −0.06pt a year

QLD0.89%UVXY0.95%

Avg volume · 30D

UVXY 2.0×the volume

QLD4.15MUVXY8.43M

10Y return · a year

QLD +102.6pt

QLD+31.9%UVXY−70.7%

QLD vs UVXY Performance

Oct 29, 2021 – Oct 30, 2026

+97.9%QLD−99.5%UVXY

Oct 29, 2021 to Oct 30, 2026. QLD +97.9%. UVXY −99.5%. Use the arrow keys to read each point.−50%0%50%150%Oct 2021Apr 2024Oct 2026
Expense ratio
QLD 0.89%, better
UVXY 0.95%
Fund size
QLD $13.3B
UVXY $225M
1Y total return
QLD +10.7%, better
UVXY −63.6%
Yield (12M)
QLD 0.15%
UVXY No data
Holdings
QLD 113
UVXY 1
Avg volume (30D)
QLD 4.15M sh
UVXY 8.43M sh, better
NAV per share
QLD $82.56
UVXY $19.43
52W range

ETF.net Grade

QLD: Cost 72, Risk 66, Mission 95, Tradability 100, Holdings 72, Durability 81. UVXY: Cost 51, Risk 9, Mission not scored, Tradability 78, Holdings not scored, Durability 83.
Pillar letters and Scores for QLD, UVXY, with each pillar’s weight
PillarQLDUVXY
Cost30% weightA72HigherC51
Mission25% weightA95Not scored
Risk15% weightB66HigherF9
Tradability15% weightA100HigherA78
Holdings10% weightA72Not scored
Durability5% weightA81A83Higher

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 UVXY 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 UVXY 28th of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 77
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 28CAGQProShares Ultra SilverScore 49
  4. Rank 28CUVXYProShares Ultra VIX Short-Term Futures ETFScore 49
  5. Rank 30CMQQQTradr 2X Long Innovation 100 Monthly ETFScore 48

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

UVXYCProShares Ultra VIX Short-Term Futures 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.

UVXY A volatility trading instrument, not a portfolio holding. UVXY targets 1.5 times the daily move of an index of short-term VIX futures, costs less than the typical leveraged fund, trades heavily, and resets every single day.

Stated mandate

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

UVXY The fund seeks daily results equal to 1.5 times the daily performance of the S&P 500 VIX Short-Term Futures Index, 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.
  • UVXY Expense ratio of 0.95%, below the 1.04% median for leveraged funds. Costs matter when holding periods are measured in hours.
  • Very actively traded, so entering and exiting during a volatility spike is rarely the hard part.
  • The mandate is mechanical and public: 1.5x the daily move of the S&P 500 VIX Short-Term Futures Index. No manager discretion in the mix.proshares.com
  • Live since 2011, through several volatility regimes, and it rates among the stronger builds in its leveraged peer group.

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.
  • UVXY The 1.5x target applies to one day. Over longer stretches, compounding can push results well away from 1.5x the index move, in either direction.
  • Sits at the extreme end of the risk spectrum even next to other leveraged funds, and it isn't an income product.
  • Structured as a commodity pool rather than a standard 1940 Act fund, so tax treatment and year-end paperwork differ from a plain stock ETF.proshares.com

Full QLD profile⁠

Full UVXY profile⁠

QLD vs UVXY Holdings

How QLD and UVXY differ

Overlap by weight

12.8%

Shared holdings make up 100% of UVXY and 12.8% of QLD.

Level by level

  • Asset classEquity, Alternatives0.0%
  • Holdings0 in both12.8%

Sector

No Sector split for UVXY.

Country, concentration and asset class

Country by domicile

No country split for UVXY.

Concentration

Weight in the 10 largest Holdings

  • QLD53.3%
  • UVXY100.0%

Securities held

  • QLD112
  • UVXY0

Asset class

QLD
Equity
UVXY
Alternatives

Holdings

  • Only in QLD112
  • In both0
  • Only in UVXY0

Only in QLD

112 securities, 87.2% of QLD by weight

  • Proshares Genius Mny Mkt Etf10.87%
  • Apple Inc5.88%
  • NVIDIA Corp5.76%

Only in UVXY

0 securities, 0.0% of UVXY by weight

Weight gaps

QLD and UVXY share no securities.

All 121 QLD holdings⁠All 3 UVXY 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 UVXY Cost

Overpaying UVXY vs QLD

$997

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

  • QLD 0.89%

    $16,872

  • UVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QLD 0.89%
  • UVXY 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$20K051015202530UVXY $17,869QLD $16,872

Year by year

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

QLD 28th cheapest of 95 funds

UVXY 32nd cheapest of 95 funds

QLD vs UVXY Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QLD 0.15%
UVXY No data
Payout (12M)
QLD $0.12
UVXY None
Last payment
QLD $0.03
UVXY No data
Ex-dividend
QLD Sep 23, 2026
UVXY No data
Paid on
QLD Sep 29, 2026
UVXY No data
Frequency
QLD Quarterly
UVXY No data

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
UVXYAll UVXY payments⁠

No distribution history available.

QLD vs UVXY Risk

Fall from peak · 5 years

  • QLD
  • UVXY
Oct 29, 2021 to Oct 30, 2026. Worst fall: UVXY −99.7% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
QLD 36.7%, betterUVXY 60.4%
Return per unit of riskSharpe ratio, 3 years
QLD 1.04, betterUVXY −1.36
Worst fallMax drawdown, 5 years
QLD −63.7%, betterUVXY −99.7%
Market sensitivityBeta, 5 years
QLD 2.46UVXY −3.28

QLD and UVXY in the news

All news⁠

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