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QLD vs UYG

ProShares Ultra QQQ

QLDANYSE Arca

ProShares Ultra Financials

UYGANYSE Arca

Overlap

18.6%by weight

Expense ratio

QLD −0.04pt a year

QLD0.89%UYG0.93%

Avg volume · 30D

QLD 240.0×the volume

QLD4.15MUYG17.3K

10Y return · a year

QLD +14.9pt

QLD+31.9%UYG+17.0%

QLD vs UYG Performance

Oct 29, 2021 – Oct 30, 2026

+97.9%QLD+56.5%UYG

Oct 29, 2021 to Oct 30, 2026. QLD +97.9%. UYG +56.5%. Use the arrow keys to read each point.−50%0%150%Oct 2021Apr 2024Oct 2026
Expense ratio
QLD 0.89%, better
UYG 0.93%
Fund size
QLD $13.3B
UYG $777M
1Y total return
QLD +10.7%
UYG +11.5%, better
Yield (12M)
QLD 0.15%
UYG 11.13%, better
Holdings
QLD 113
UYG 83
Avg volume (30D)
QLD 4.15M sh, better
UYG 17.3K sh
NAV per share
QLD $82.56
UYG $93.27
52W range

ETF.net Grade

QLD: Cost 72, Risk 66, Mission 95, Tradability 100, Holdings 72, Durability 81. UYG: Cost 70, Risk 76, Mission not scored, Tradability 78, Holdings not scored, Durability 80.
Pillar letters and Scores for QLD, UYG, with each pillar’s weight
PillarQLDUYG
Cost30% weightA72HigherA70
Mission25% weightA95Not scored
Risk15% weightB66A76Higher
Tradability15% weightA100HigherA78
Holdings10% weightA72Not scored
Durability5% weightA81HigherA80

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 UYG 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 UYG 2nd of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 77
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 3AROMProShares Ultra TechnologyScore 71

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

UYGAProShares Ultra Financials

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.

UYG Listed in January 2007, a year before the banking crash, UYG targets 2x the daily move of the financial stocks in the S&P 500. A veteran of the leveraged shelf, priced at 0.93% with no fee waiver propping that number up.

Stated mandate

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

UYG UYG seeks pre-expense daily results equal to 2x the daily performance of the S&P Financial Select Sector Index. It is designed to provide magnified financials-sector exposure on a daily basis.

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.
  • UYG One of the originals: on the tape since January 30, 2007, still running the same mandate of 2x the daily performance of the S&P Financial Select Sector Index.proshares.com
  • At 0.93% with no waiver doing the work, it sits near the median fee of its leveraged peer group and level with sibling ROM (0.93%). QLD is 0.89%, but net of a waiver through September 30, 2027.
  • The whole sector in one ticker: banks, insurers and capital-markets firms from the S&P 500, roughly 80 names, geared daily.proshares.com
  • Stands in the top tier of the leveraged bull funds we grade, a group of close to a hundred tickers.

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.
  • UYG The 2x target is a one-day target and resets each day. Over longer holds the result comes from compounding daily moves, and in choppy markets that can land well off twice the index's return for the period.proshares.com
  • One sector, doubled. Financials move with rates, credit conditions and deal flow, and UYG amplifies that daily swing in both directions.
  • It changes hands less than the headline leveraged funds, so the spread is worth a look before you place an order.

Full QLD profile⁠

Full UYG profile⁠

QLD vs UYG Holdings

How QLD and UYG differ

Overlap by weight

18.6%

Shared holdings make up 35.0% of UYG and 24.3% of QLD.

Level by level

  • Sector10 Sectors14.2%
  • Holdings3 in both18.6%
  • Countryby domicile97.3%
  • Asset classEquity100%

Sector

Sector weights in QLD and UYG, widest gap first
SectorMore in QLDMore in UYG
FinancialsUYG +85.8 points
TechnologyQLD +50.7 points
CommunicationQLD +9.6 points
Consumer DiscretionaryQLD +9.2 points
Consumer StaplesQLD +5.5 points
IndustrialsQLD +4.7 points
Health CareQLD +3.9 points
UtilitiesQLD +1.0 points
MaterialsQLD +0.9 points
EnergyQLD +0.4 points

Country, concentration and asset class

Country by domicile

Country weights in QLD and UYG, widest gap first
CountryMore in QLDMore in UYG
SwitzerlandUYG +1.6 points
United StatesUYG +1.1 points
CanadaQLD +1.1 points
NetherlandsQLD +0.9 points
Other countries (3)QLD +0.8 points

Concentration

Weight in the 10 largest Holdings

  • QLD53.3%
  • UYG66.9%

Securities held

  • QLD112
  • UYG82

Asset class

QLD
Equity
UYG
Equity

Holdings

  • Only in QLD109
  • In both3
  • Only in UYG79

Only in QLD

109 securities, 75.7% of QLD by weight

  • Apple Inc5.88%
  • NVIDIA Corp5.76%
  • Microsoft Corp4.53%

Only in UYG

79 securities, 65.0% of UYG by weight

  • Berkshire Hathaway Inc-Cl B7.63%
  • JPMorgan Chase & Co6.77%
  • Visa Inc-Class A Shares5.33%

Weight gaps

All 3 Holdings in both funds, largest gap first.

Holding weights in QLD and UYG, widest gap first
HoldingMore in QLDMore in UYG
Proshares Genius Mny Mkt EtfIQMMQLD +5.70 points
TREASURY BILL, 0%, due 2026-11-03UYG +0.48 points
PayPal Holdings IncPYPLUYG +0.21 points

All 121 QLD holdings⁠All 84 UYG 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 UYG Cost

Overpaying UYG vs QLD

$667

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

  • QLD 0.89%

    $16,872

  • UYG 0.93%

    $17,539

$10,000
30 years

Cost over time

  • QLD 0.89%
  • UYG 0.93%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UYG $17,539QLD $16,872

Year by year

YearQLDUYGOverpaying
10$1,576$1,644$68
20$5,953$6,199$246
30$16,872$17,539$667

Expense ratio

  • 0.89%QLD, cheaper
  • 0.93%UYG
  • Middle half of Leveraged Long (2x & Other) funds
  • Median 0.95%

QLD 28th cheapest of 95 funds

UYG 29th cheapest of 95 funds

QLD vs UYG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QLD 0.15%
UYG 11.13%, better
Payout (12M)
QLD $0.12
UYG $10.38
Last payment
QLD $0.03
UYG $0.09
Ex-dividend
QLD Sep 23, 2026
UYG Sep 23, 2026
Paid on
QLD Sep 29, 2026
UYG Sep 29, 2026
Frequency
QLD Quarterly
UYG 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$102017202020232026YTD
UYGQuarterly · 39 paymentsAll UYG payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.02; Jun 21, 2017 $0.02; Sep 27, 2017 $0.07; Dec 26, 2017 $0.12; Mar 21, 2018 $0.05; Jun 20, 2018 $0.08; Sep 26, 2018 $0.11; Dec 26, 2018 $0.18; Mar 20, 2019 $0.08; Jun 25, 2019 $0.09; Sep 25, 2019 $0.14; Dec 24, 2019 $0.17; Mar 25, 2020 $0.12; Jun 24, 2020 $0.05; Sep 23, 2020 $0.03; Dec 23, 2020 $0.08; Mar 23, 2021 $0.03; Jun 22, 2021 $0.02; Sep 22, 2021 $0.03; Dec 23, 2021 $3.19; Mar 23, 2022 $0.04; Jun 22, 2022 $0.04; Sep 21, 2022 $0.06; Dec 22, 2022 $0.20; Mar 22, 2023 $0.09; Jun 21, 2023 $0.11; Sep 20, 2023 $0.09; Dec 20, 2023 $0.15; Mar 20, 2024 $0.04; Jun 26, 2024 $0.11; Sep 25, 2024 $0.09; Dec 23, 2024 $0.20; Mar 26, 2025 $0.27; Jun 25, 2025 $0.13; Sep 24, 2025 $0.38; Dec 24, 2025 $9.97; Mar 25, 2026 $0.20; Jun 24, 2026 $0.11; Sep 23, 2026 $0.09. Use the arrow keys to read each point.$0$102017202020232026YTD

QLD vs UYG Risk

Fall from peak · 5 years

  • QLD
  • UYG
Oct 29, 2021 to Oct 30, 2026. Worst fall: QLD −63.7% · Dec 2022. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
QLD 36.7%UYG 30.5%, better
Return per unit of riskSharpe ratio, 3 years
QLD 1.04UYG 1.04Same figure. Both funds show the same value, so neither comes out ahead.
Worst fallMax drawdown, 5 years
QLD −63.7%UYG −47.8%, better
Market sensitivityBeta, 5 years
QLD 2.46UYG 1.58

QLD and UYG in the news

All news⁠

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