Data as of Oct 28, 2026.
QQQI vs TQQQ: Differences, Returns & Fees
Over the year to Oct 28, 2026, QQQI returned +11.9% to TQQQ's +22.4%, and QQQI charges 0.68% to TQQQ's 0.78%.
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Net assets: $15.4bn on Oct 27, 2026 for NEOS Nasdaq-100 High Income ETF, and $37.3bn on Oct 28, 2026 for ProShares UltraPro QQQ.
Pair scorecard
QQQI costs 0.10 points a year less; their one-year returns differ by 10.5 points; TQQQ is 2.4 times larger.
| Measure | QQQI | TQQQ |
|---|---|---|
| Return | ||
| Total return, 1 year | +11.9% | +22.4% |
| Price change, 1 year | fell 2.8% | rose 21.5% |
| Latest payout, annualized | 14.1% | |
| Return of capital, issuer estimate | 100% of the Oct 23, 2026 payment | |
| What its daily multiple gave, 3 months | 28.9% | |
| What the underlying did, 3 months | QQQ 9.8% | |
| What the underlying did, 3 months | QQQ 9.8% | |
| The multiple over the whole window | 3 times gives +29.4% | |
| Against its benchmark | ||
| What it tracks | Benchmark: Nasdaq-100, measured through QQQ | Nasdaq-100 |
| Against its benchmark, same days | behind by 3.3 pts | |
| Against its daily multiple, 3 months | 3.4 points short | |
| Against the whole-window multiple | 3.9 points short | |
| Cost and size | ||
| Expense ratio | 0.68% | 0.78% |
| Net assets, as of Oct 27, 2026 | $15.4bn | $36.9bn |
| Holdings | ||
| Holdings in common | not published | |
Risk and return
Feb 9, 2024 to Oct 23, 2026 · 141 weekly returns · each against QQQTQQQ returned more: +126.2% to +52.7%. QQQI swung less: 16.0% to 59.1%. QQQI fell less at its worst: −18.4% to −54.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | QQQI | TQQQ | QQQ | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +52.7% | +126.2% | TQQQ | Price change plus distributions, reinvested. | |
| Annualized | +16.9% | +35.1% | TQQQ | Total return as a yearly rate. | |
| Price return | +3.2% | +120.0% | TQQQ | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 16.0% | 59.1% | QQQI | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 10.8% | 38.4% | QQQI | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −18.4% | −54.1% | QQQI | Deepest fall from a high to the low after it. | |
| Upside capture | 69.5% | Not measured | 100.0% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 85.4% | 147.7% | 100.0% | QQQI | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.79 | 2.97 | 1.00 | QQQI lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.98 | 1.00 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.79 | 0.73 | QQQI (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.16 | 1.13 | QQQI (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.158 | 0.146 | 0.158 | QQQI (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.92 | 0.65 | QQQI | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | QQQ | QQQ | QQQ | The ETF each fund is measured against. | |
| Alpha | 0.0% a year | −3.6% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.01 | −1.81 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −3.0% to +3.0% | −7.5% to +0.3% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.67 | 0.70 | TQQQ | Return against its benchmark per unit of tracking error. | |
| Tracking error | 4.8% | 39.3% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 141 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
QQQI and TQQQ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price.
QQQI and TQQQ do different jobs. What does each one do in a portfolio?
- What each follows. QQQI is measured against Nasdaq-100 through QQQ and TQQQ follows Nasdaq-100.
- One-year total return. Over 1 year to Oct 28, 2026 QQQI returned +11.9% and TQQQ +22.4% with distributions reinvested, a gap of 10.5 points.
- Cost. QQQI charges 0.68% of assets a year and TQQQ 0.78%, a gap of 0.10 points.
Data as of Oct 28, 2026.
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QQQI
Over the year to Oct 28, 2026, QQQI paid 13.7% of its starting value in cash distributions while its price fell 2.8%. With every distribution reinvested, the fund returned +11.9%. Nasdaq-100 (QQQ) returned +15.2% over the same days, so a holder was behind by 3.3 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 14.1%, paid monthly. NEOS estimates that 100% of the distribution paid Oct 23, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Over the three months to Oct 28, 2026, TQQQ returned 25.5%, against 28.9% for three times QQQ's daily moves. Of that 3.9, daily compounding is −0.5 points, which any 3 times fund would show over the same path, and the fund itself is −3.4 points against 3 times each day's move, compounded. QQQ moved at 18% annualized over that window.
Read the multiple against the whole window instead and 3 times QQQ's 9.8% implies +29.4%, which makes TQQQ look 3.9 points short. That is not the fund's objective, which is daily. TQQQ aims to return +3 times QQQ's move each day, then resets. Over one day it does that. Over longer periods the daily results compound, so the total is not +3 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run. The more it moves, the further the two numbers separate.
Questions people ask
- Are QQQI and TQQQ in the same category?
- QQQI is an option-income ETF and TQQQ is a leveraged ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, QQQI or TQQQ?
- In the year to Oct 28, 2026, with distributions reinvested, QQQI returned +11.9% and TQQQ +22.4%.
- Which is cheaper, QQQI or TQQQ?
- QQQI is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, QQQI against TQQQ, data as of Oct 28, 2026. https://etfiq.com/compare/any/qqqi-vs-tqqq
ETFIQ. (Oct 28, 2026). QQQI against TQQQ. Retrieved from https://etfiq.com/compare/any/qqqi-vs-tqqq
[QQQI against TQQQ (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/qqqi-vs-tqqq)
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