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TQQQ vs UMDD

ProShares UltraPro QQQ

TQQQANasdaq

ProShares UltraPro MidCap 400

UMDDBNYSE Arca

Overlap

Expense ratio

TQQQ −0.17pt a year

TQQQ0.78%UMDD0.95%

Avg volume · 30D

TQQQ 9642.1×the volume

TQQQ57.2MUMDD5.94K

10Y return · a year

TQQQ +27.4pt

TQQQ+39.2%UMDD+11.8%

TQQQ vs UMDD Performance

Nov 4, 2021 – Nov 4, 2026

+50.5%TQQQ−9.7%UMDD

Nov 4, 2021 to Nov 4, 2026. TQQQ +50.5%. UMDD −9.7%. Use the arrow keys to read each point.−50%100%Nov 2021May 2024Nov 2026
Expense ratio
TQQQ 0.78%, better
UMDD 0.95%
Fund size
TQQQ $33.2B
UMDD $28M
1Y total return
TQQQ +12.9%
UMDD +36.6%, better
Yield (12M)
TQQQ 0.78%, better
UMDD 0.58%
Holdings
TQQQ 115
UMDD 401
Avg volume (30D)
TQQQ 57.2M sh, better
UMDD 5.94K sh
NAV per share
TQQQ $62.19
UMDD $32.62
52W range

ETF.net Grade

TQQQ: Cost 97, Risk 59, Mission 84, Tradability 97, Holdings not scored, Durability 79. UMDD: Cost 62, Risk 67, Mission not scored, Tradability 39, Holdings not scored, Durability 49.
Pillar letters and Scores for TQQQ, UMDD, with each pillar’s weight
PillarTQQQUMDD
Cost30% weightA97HigherB62
Mission25% weightA84Not scored
Risk15% weightB59B67Higher
Tradability15% weightA97HigherD39
Holdings10% weightNot scoredNot scored
Durability5% weightA79HigherC49

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. TQQQ and UMDD are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

TQQQ ranks 1st and UMDD 10th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AFASDirexion Daily Financial Bull 3X ETFScore 80
  3. Rank 9BURTYProShares UltraPro Russell2000Score 63
  4. Rank 10BUMDDProShares UltraPro MidCap 400Score 56
  5. Rank 11CLABUDirexion Daily S&P Biotech Bull 3X SharesScore 54

Our read on each fund

ETF.net Research

TQQQAProShares UltraPro QQQ

UMDDBProShares UltraPro MidCap 400

In short

TQQQ The original 3x Nasdaq-100 trade, live since 2010. Leverage resets every day, chasing three times the index's one-day move, and it is one of the most heavily traded names in its corner of the market.

UMDD The 3x shelf crowds into big tech and chips. UMDD points at the middle of the market: three times the daily move of the S&P MidCap 400, for 0.95% net of a waiver through September 30, 2027.

Stated mandate

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

UMDD The fund seeks daily investment results, before fees and expenses, corresponding to three times the daily performance of the S&P MidCap 400 Index.

Why people hold it

  • TQQQ Costs 0.78% net of a waiver through September 30, 2027 (0.94% gross), below the median fee for 3x bull funds and below stablemate UDOW at 0.94% with no waiver.
  • A multi-billion-dollar fund and one of the busiest tickers in the leveraged space, which matters when a daily-reset position needs to be entered or exited quickly.
  • Delivers its stated 3x daily target with close day-to-day fidelity, one of the stronger implementations among 3x bull funds.proshares.com
  • Straightforward plumbing: it rebalances exposure to the Nasdaq-100 each day, raising it as the index rises and cutting it as the index falls.sec.gov
  • UMDD A single ticker for 3x daily mid-cap exposure, a corner of the 3x shelf dominated by the Nasdaq-100, the Dow and sector bets.proshares.com
  • The leverage is packaged inside the fund, so you get magnified exposure to about 400 mid-sized US companies without running your own margin account.proshares.com
  • Trading since 2010, which is long tenure for a daily-reset product, and it still rates in the upper half of its 3x peer group.
  • 0.95% net of a waiver through September 30, 2027 sits near the 3x category norm; stablemate TQQQ is cheaper at 0.78%, net of a waiver through the same date.

Worth knowing

  • TQQQ The prospectus is blunt: this seeks results for a single day only. Hold longer and compounding takes over, so multi-day results can land far from 3x the index move, especially in choppy tape.sec.gov
  • Triple exposure cuts both ways. A rough day for the Nasdaq-100 hits roughly three times as hard here, which is why this scores as one of the riskier structures on our books.
  • The fee break is contractual, not permanent. Should the waiver lapse after September 30, 2027, the cost reverts toward the 0.94% gross rate.
  • UMDD The 3x target resets daily. Hold longer and compounding takes over, so results over weeks or months can diverge widely from 3x the index move, especially in choppy tape.proshares.com
  • Thinly traded next to the headline 3x funds, so spreads and limit orders matter more here than on TQQQ or SOXL.
  • The 0.95% rate is contractual, not permanent: gross expenses are 1.39%, with the waiver running to September 30, 2027.

Full TQQQ profile⁠

Full UMDD profile⁠

TQQQ vs UMDD 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.

TQQQ vs UMDD Cost

Overpaying UMDD vs TQQQ

$2,867

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

  • TQQQ 0.78%

    $15,002

  • UMDD 0.95%

    $17,869

$10,000
30 years

Cost over time

  • TQQQ 0.78%
  • UMDD 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$20K051015202530UMDD $17,869TQQQ $15,002

Year by year

YearTQQQUMDDOverpaying
10$1,388$1,678$290
20$5,268$6,322$1,054
30$15,002$17,869$2,867

Expense ratio

  • 0.78%TQQQ, cheaper
  • 0.95%UMDD
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

TQQQ 2nd cheapest of 30 funds

UMDD 9th cheapest of 30 funds

TQQQ vs UMDD Dividends

Last 12 months to Nov 4, 2026
Yield (12M)
TQQQ 0.78%, better
UMDD 0.58%
Payout (12M)
TQQQ $0.48
UMDD $0.19
Last payment
TQQQ $0.16
UMDD $0.03
Ex-dividend
TQQQ Sep 23, 2026
UMDD Sep 23, 2026
Paid on
TQQQ Sep 29, 2026
UMDD Sep 29, 2026
Frequency
TQQQ Quarterly
UMDD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

TQQQQuarterly · 14 paymentsAll TQQQ payments⁠
One bar per payment. 14 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.0051; Mar 20, 2019 $0.0025; Dec 24, 2019 $0.0039; Dec 23, 2020 $0.000035; Dec 22, 2022 $0.05; Jun 26, 2024 $0.14; Dec 23, 2024 $0.14; Mar 26, 2025 $0.10; Jun 25, 2025 $0.11; Sep 24, 2025 $0.05; Dec 24, 2025 $0.09; Mar 25, 2026 $0.07; Jun 24, 2026 $0.17; Sep 23, 2026 $0.16. Use the arrow keys to read each point.$0$0.202017202020232026YTD
UMDDQuarterly · 26 paymentsAll UMDD payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.0057; Dec 26, 2018 $0.04; Mar 20, 2019 $0.02; Jun 25, 2019 $0.04; Sep 25, 2019 $0.06; Dec 24, 2019 $0.04; Mar 25, 2020 $0.01; Dec 23, 2020 $0.0046; Dec 23, 2021 $0.02; Mar 23, 2022 $0.01; Jun 22, 2022 $0.01; Sep 21, 2022 $0.03; Dec 22, 2022 $0.03; Mar 22, 2023 $0.005; Dec 20, 2023 $0.04; Mar 20, 2024 $0.0099; Jun 26, 2024 $0.04; Sep 25, 2024 $0.05; Dec 23, 2024 $0.11; Mar 26, 2025 $0.03; Jun 25, 2025 $0.07; Sep 24, 2025 $0.08; Dec 24, 2025 $0.08; Mar 25, 2026 $0.04; Jun 24, 2026 $0.04; Sep 23, 2026 $0.03. Use the arrow keys to read each point.$0$0.202017202020232026YTD

TQQQ vs UMDD Risk

Fall from peak · 5 years

  • TQQQ
  • UMDD
Nov 4, 2021 to Nov 4, 2026. Worst fall: TQQQ −81.7% · Dec 2022. Use the arrow keys to read each point.−80%−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
TQQQ 56.9%UMDD 46.7%, better
Return per unit of riskSharpe ratio, 3 years
TQQQ 0.98, betterUMDD 0.71
Worst fallMax drawdown, 5 years
TQQQ −81.7%UMDD −64.6%, better
Market sensitivityBeta, 5 years
TQQQ 3.74UMDD 3.07

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