Are MQQQ and PSQ levered on the same thing?

Yes. Both are levered on the Nasdaq-100, MQQQ at +2 times each calendar month’s move and PSQ at -1 times each day’s move.

Can I hold MQQQ or PSQ for a year?

MQQQ resets every calendar month and PSQ resets every day, so the multiple in each name applies to one period only, and the periods compound. Over a year the total is not the multiple times the year’s move.

Which is cheaper, MQQQ or PSQ?

MQQQ charges 1.03% a year and PSQ charges 0.95%, so PSQ is cheaper. Fees come from each fund's prospectus.

Data as of Oct 27, 2026.

Leveraged and inverse ETFs

MQQQ vs PSQ: Leverage, Returns & Decay

Over the three months to Oct 27, 2026, MQQQ returned 11.9% and PSQ −5.7%.

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Net assets on Oct 27, 2026: $252m for Tradr 2X Long Innovation 100 Monthly ETF and $623m for ProShares Short QQQ.

MQQQ on its own →PSQ on its own →

At a glance

Pair scorecard

PSQ costs 0.08 points a year less; their one-year returns differ by 29.6 points; PSQ is 2.5 times larger.

Points (pts) are percentage points.

MQQQ vs PSQ: Leverage, Returns & Decay
Measure	MQQQ	PSQ
Return
Measure	MQQQ	PSQ
Total return, 1 year	+18.7%	−10.9%
What its daily multiple gave, 3 months		−7.3%
What the underlying did, 3 months	QQQ 6.9%	QQQ 6.9%
What the underlying did, 3 months	QQQ 6.9%	QQQ 6.9%
The multiple over the whole window		−1 times gives −6.9%
Against its benchmark
Measure	MQQQ	PSQ
What it tracks	Nasdaq-100	Nasdaq-100
Against its daily multiple, 3 months		1.6 points over
Against the whole-window multiple		1.2 points over
Cost and size
Measure	MQQQ	PSQ
Expense ratio	1.03%	0.95%
Net assets	$252m	$623m
Holdings
Measure	MQQQ	PSQ
Holdings in common	not published

Method

Side by side

MQQQ Tradr 2X Long Innovation 100 Monthly ETF · Aims to return twice QQQ’s move over each calendar month PSQ ProShares Short QQQ · Aims to return 1 times the opposite of the daily move of the Nasdaq-100, measured through QQQ

Issuer Tradr ProShares

Sets out to return +2x −1x

Underlying asset QQQ QQQ

Segment us large cap us large cap

Fund returned, 3 months +11.9% −5.7%

Underlying returned, over that window +6.9% +6.9%

What the stated multiple implies, over that window not published −6.9%

Difference from stated, over that window not available +1.2 pts

Fund returned, 1 year +18.7% −10.9%

Difference from stated, over that window not available +4.5 pts

Underlying volatility 19% 19%

Expense ratio 1.03% 0.95%

First traded Sep 3, 2024 Jun 21, 2006

Net assets $252m $623m

As of Oct 27, 2026. Source: ETFIQ.

Window by window

Window by window: MQQQ vs PSQ: Leverage, Returns & Decay
	Total return		Multiple would give		Difference
Window	MQQQ	PSQ	MQQQ	PSQ	MQQQ	PSQ
1 month	−6.8%	+3.6%	not meaningful	+3.1%	not meaningful	+0.5 pts
3 months	+11.9%	−5.7%	not meaningful	−6.9%	not meaningful	+1.2 pts
6 months	+13.8%	−8.1%	not meaningful	−9.9%	not meaningful	+1.8 pts
1 year	+18.7%	−10.9%	not meaningful	−15.4%	not meaningful	+4.5 pts
3 years	–	−47.5%	–	not meaningful	–	not meaningful
Since launchNot the same days: MQQQ Sep 2024 · PSQ Jun 2006	+98.0%	−97.4%	not meaningful	not meaningful	not meaningful	not meaningful

Source: ETFIQ. – means no data for this window. Open this comparison in the app →

Client brief · page 1 of 2 Report BR-0A1F1164F5

MQQQ and PSQ are built for the same job. How do they differ in cost, holdings and results?

Stated daily multiple. MQQQ sets out to return +2x the daily move and PSQ −1x.
One-year total return. Over 1 year to Oct 27, 2026 MQQQ returned +18.7% and PSQ −10.9% with distributions reinvested, a gap of 29.6 points.
What each follows (similar). Both follow Nasdaq-100.

Data as of Oct 27, 2026.

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About each fund

MQQQ

Over the month to Sep 30, 2026, MQQQ returned 6.0%, against 6.6% for twice QQQ's return. Across its 12 completed months (Oct 2025 to Sep 2026), the gap to +2 times QQQ ran from −1.0 pts to −0.3 pts.

MQQQ aims to return +2 times QQQ's move over each full calendar month, from the close of the last business day of one month to the close of the last business day of the next. It does not seek that multiple over any other period. Over the three months to Oct 27, 2026, QQQ returned 6.9%.

PSQ

Over the three months to Oct 27, 2026, PSQ lost 5.7%, against −7.3% for the inverse of QQQ's daily moves. Of that 1.2, daily compounding is −0.4 points, which any −1 times fund would show over the same path, and the fund itself is +1.6 points against −1 times each day's move, compounded.

Read the multiple against the whole window instead and −1 times QQQ's 6.9% implies −6.9%, which makes PSQ look 1.2 points over. That is not the fund's objective, which is daily. PSQ aims to return -1 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 -1 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run. QQQ moved at 19% annualized over that window. The more it moves, the further the two numbers separate.

Questions people ask

Are MQQQ and PSQ levered on the same thing?: Yes. Both are levered on the Nasdaq-100, MQQQ at +2 times each calendar month’s move and PSQ at -1 times each day’s move.
Can I hold MQQQ or PSQ for a year?: MQQQ resets every calendar month and PSQ resets every day, so the multiple in each name applies to one period only, and the periods compound. Over a year the total is not the multiple times the year’s move.
Which is cheaper, MQQQ or PSQ?: MQQQ charges 1.03% a year and PSQ charges 0.95%, so PSQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

MQQQ vs QID MQQQ vs SQQQ MQQQ vs QLD MQQQ vs QQQP PSQ vs QID PSQ vs SQQQ PSQ vs QQQP PSQ vs QLD

Where to next

QQQ →All leveraged ETFs ranked by the 3-Month Tracking Score →How the scores are computed →MQQQ on its own →PSQ on its own →MQQQ dividend history →MQQQ holdings →PSQ dividend history →PSQ holdings →Method →Standards and sources →

Sources and dates

MQQQ filings on SEC EDGAR ↗

MQQQ prospectus with the expense ratio (SEC) ↗

Tradr website ↗

PSQ filings on SEC EDGAR ↗

PSQ prospectus with the expense ratio (SEC) ↗

ProShares page for PSQ ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, MQQQ against PSQ, data as of Oct 27, 2026. https://etfiq.com/compare/leverage/mqqq-vs-psq

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