Skip to content
etf.net

QLD vs YCL

ProShares Ultra QQQ

QLDANYSE Arca

ProShares Ultra Yen

YCLBNYSE Arca

Overlap

Expense ratio

QLD −0.06pt a year

QLD0.89%YCL0.95%

Avg volume · 30D

QLD 125.5×the volume

QLD4.15MYCL33K

10Y return · a year

QLD +44.4pt

QLD+31.9%YCL−12.5%

QLD vs YCL Performance

Oct 29, 2021 – Oct 30, 2026

+97.9%QLD−62.5%YCL

Oct 29, 2021 to Oct 30, 2026. QLD +97.9%. YCL −62.5%. Use the arrow keys to read each point.0%50%150%Oct 2021Apr 2024Oct 2026
Expense ratio
QLD 0.89%, better
YCL 0.95%
Fund size
QLD $13.3B
YCL $29M
1Y total return
QLD +10.7%, better
YCL −8.6%
Yield (12M)
QLD 0.15%
YCL No data
Holdings
QLD 113
YCL 1
Avg volume (30D)
QLD 4.15M sh, better
YCL 33K sh
NAV per share
QLD $82.56
YCL $18.22
52W range

ETF.net Grade

QLD: Cost 72, Risk 66, Mission 95, Tradability 100, Holdings 72, Durability 81. YCL: Cost 51, Risk 57, Mission not scored, Tradability 61, Holdings not scored, Durability 69.
Pillar letters and Scores for QLD, YCL, with each pillar’s weight
PillarQLDYCL
Cost30% weightA72HigherC51
Mission25% weightA95Not scored
Risk15% weightB66HigherB57
Tradability15% weightA100HigherB61
Holdings10% weightA72Not scored
Durability5% weightA81HigherB69

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 YCL 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 YCL 20th of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 77
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 20BUPWProShares Ultra UtilitiesScore 55
  4. Rank 20BYCLProShares Ultra YenScore 55
  5. Rank 22CMAGXRoundhill Daily 2X Long Magnificent Seven ETFScore 54

Our read on each fund

ETF.net Research

QLDAProShares Ultra QQQ

YCLBProShares Ultra Yen

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.

YCL The only US ETF built to double the yen's daily move against the dollar. A one-day macro tool wrapped as a commodity pool, on the shelf since 2008 for traders with a view on dollar-yen.

Stated mandate

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

YCL YCL seeks daily investment results, before fees and expenses, equal to two times the daily performance of the Japanese yen against the U.S. dollar.

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.
  • YCL One of a kind: ProShares states no other ETF targets 2x the daily performance of the yen versus the dollar. The alternative route is futures, forwards or a margin account.proshares.com
  • 0.95% a year sits under the typical fee for leveraged funds, and the fund has been running since 2008, through multiple dollar-yen regimes.
  • The mechanism is plain: two times the yen's daily move against the dollar, reset each day, traded through one ticker in an ordinary brokerage account.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.
  • YCL Daily reset compounds. Over any stretch longer than a day, results can land well away from 2x the yen's move, and choppy currency markets widen that gap.proshares.com
  • Structured as a commodity pool under ProShares Trust II, so it sends a Schedule K-1 at tax time rather than a 1099.proshares.com
  • Trading is light next to the big equity-index leveraged funds like UDOW and QLD, which can show up as wider spreads around the quote.

Full QLD profile⁠

Full YCL profile⁠

QLD vs YCL 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 YCL Cost

Overpaying YCL vs QLD

$997

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

  • QLD 0.89%

    $16,872

  • YCL 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QLD 0.89%
  • YCL 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$20K051015202530YCL $17,869QLD $16,872

Year by year

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

QLD 28th cheapest of 95 funds

YCL 32nd cheapest of 95 funds

QLD vs YCL Dividends

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

No distribution history available.

QLD vs YCL Risk

Fall from peak · 5 years

  • QLD
  • YCL
Oct 29, 2021 to Oct 30, 2026. Worst fall: YCL −65.4% · Jul 2026. 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%YCL 19.7%, better
Return per unit of riskSharpe ratio, 3 years
QLD 1.04, betterYCL −0.61
Worst fallMax drawdown, 5 years
QLD −63.7%, betterYCL −65.4%
Market sensitivityBeta, 5 years
QLD 2.46YCL 0.38

QLD and YCL in the news

All news⁠

Popular comparisons

  • QLDAvsUYGA

    ProShares Ultra QQQ · ProShares Ultra Financials

    Expense ratio
    0.89% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YCLBvsUYGA

    ProShares Ultra Yen · ProShares Ultra Financials

    Expense ratio
    0.95% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QLDAvsROMA

    ProShares Ultra QQQ · ProShares Ultra Technology

    Expense ratio
    0.89% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YCLBvsROMA

    ProShares Ultra Yen · ProShares Ultra Technology

    Expense ratio
    0.95% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QLDAvsDDMB

    ProShares Ultra QQQ · ProShares Ultra Dow30

    Expense ratio
    0.89% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YCLBvsDDMB

    ProShares Ultra Yen · ProShares Ultra Dow30

    Expense ratio
    0.95% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.