Data as of Oct 28, 2026.
QQQM vs TQQQ: Differences, Returns & Fees
Over the year to Oct 28, 2026, QQQM returned +15.2% to TQQQ's +22.4%, and QQQM charges 0.15% to TQQQ's 0.78%.
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Net assets: $110.4bn on Oct 27, 2026 for Invesco NASDAQ 100 ETF, and $37.3bn on Oct 28, 2026 for ProShares UltraPro QQQ.
Pair scorecard
QQQM costs 0.63 points a year less; their one-year returns differ by 7.2 points; QQQM is 3.0 times larger.
| Measure | QQQM | TQQQ |
|---|---|---|
| Return | ||
| Total return, 1 year | +15.2% | +22.4% |
| 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% | |
| Drawdown | ||
| Below its high | 4.5%, high on Oct 6, 2026 | |
| Against its benchmark | ||
| What it tracks | Nasdaq-100 Index | Nasdaq-100 |
| Against its daily multiple, 3 months | 3.4 points short | |
| Against the whole-window multiple | 3.9 points short | |
| Cost and size | ||
| Expense ratio | 0.15% | 0.78% |
| Net assets, as of Oct 27, 2026 | $110.4bn | $36.9bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 96% | |
| Top ten holdings, share of the fund | 46.7% | |
Risk and return
Oct 23, 2020 to Oct 23, 2026 · 313 weekly returns · each against QQQTQQQ returned more: +300.7% to +157.2%. QQQM swung less: 21.0% to 63.3%. QQQM fell less at its worst: −35.0% to −80.4%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | QQQM | TQQQ | QQQ | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +157.2% | +300.7% | TQQQ | Price change plus distributions, reinvested. | |
| Annualized | +17.0% | +25.9% | TQQQ | Total return as a yearly rate. | |
| Price return | +147.9% | +280.7% | TQQQ | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 21.0% | 63.3% | QQQM | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 13.6% | 40.9% | QQQM | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −35.0% | −80.4% | QQQM | Deepest fall from a high to the low after it. | |
| Upside capture | 99.6% | Not measured | 100.0% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 99.8% | 139.8% | 100.0% | QQQM | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.00 | 3.00 | 1.00 | QQQM lower | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 1.00 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.70 | 0.63 | QQQM | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.07 | 0.97 | QQQM (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.147 | 0.132 | 0.146 | QQQM (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.49 | 0.32 | QQQM | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | QQQ | QQQ | QQQ | The ETF each fund is measured against. | |
| Alpha | +0.1% a year | −4.0% a year | 0.0% | TQQQ significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.62 | −3.33 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −0.2% to +0.4% | −6.4% to −1.7% | QQQM's includes zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.10 | 0.59 | TQQQ | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.4% | 42.3% | 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, 313 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
QQQM and TQQQ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
QQQM and TQQQ do different jobs. What does each one do in a portfolio?
- One-year total return. Over 1 year to Oct 28, 2026 QQQM returned +15.2% and TQQQ +22.4% with distributions reinvested, a gap of 7.2 points.
- Cost. QQQM charges 0.15% of assets a year and TQQQ 0.78%, a gap of 0.63 points.
- Size. QQQM has $110.4bn in net assets and TQQQ $36.9bn (net assets, as of Oct 27, 2026); QQQM is 3.0 times larger.
Data as of Oct 28, 2026.
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QQQM
QQQM tracks the Nasdaq-100. Over the year to Oct 28, 2026 it returned +15.2% with distributions reinvested, against +15.2% for its benchmark, the Nasdaq-100 Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 105 positions, with the top ten at 46.7%. It sat 4.5% below its high of Oct 6, 2026 on Oct 28, 2026.
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 QQQM and TQQQ in the same category?
- QQQM is a stock 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, QQQM or TQQQ?
- In the year to Oct 28, 2026, with distributions reinvested, QQQM returned +15.2% and TQQQ +22.4%.
- Which is cheaper, QQQM or TQQQ?
- QQQM is cheaper, by 0.63 percentage points a year. That is about $63 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, QQQM against TQQQ, data as of Oct 28, 2026. https://etfiq.com/compare/any/qqqm-vs-tqqq
ETFIQ. (Oct 28, 2026). QQQM against TQQQ. Retrieved from https://etfiq.com/compare/any/qqqm-vs-tqqq
[QQQM against TQQQ (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/qqqm-vs-tqqq)
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