QLD · ProShares Ultra QQQ
Issuer: ProShares
A U.S.-listed leveraged ETF seeking 2x the DAILY return of the Nasdaq-100 Index before fees and expenses. It uses derivatives such as swaps and futures and resets its targeted exposure each trading day. Compounding and volatility can cause multi-day returns to differ substantially from twice the index’s cumulative return, with significant downside risk. Its September 28, 2026 prospectus lists a 0.96% gross expense ratio and a 0.89% net ratio after contractual fee waivers.
ETF · US ETF average
Long-term returns ★★★★★★★★☆☆ Five-year cumulative total return near +91.8%.
Stability ★★☆☆☆☆☆☆☆☆ Five-year maximum drawdown near 63.8%.
Costs ★★☆☆☆☆☆☆☆☆ Gross fee 0.96%; net 0.89% after waivers.
Upside potential ★★★★★★★★★☆ Best full-year return: +117.7% in 2023.
Liquidity ★★★★★★★★☆☆ About $400M in daily trading value over the last year.
Performance
1-month total return: -17%
1-year total return: 13%
5-year total return: 92%
Stability
1-month MDD: -27%
1-year MDD: -28%
5-year MDD: -64%