Data as of Oct 27, 2026.
QLD vs QQQP: Leverage, Returns & Decay
Over the three months to Oct 27, 2026, QLD returned 11.7% and QQQP 13.1%.
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Net assets on Oct 27, 2026: $14.6bn for ProShares Ultra QQQ and $13m for Tradr 2X Long Innovation 100 Quarterly ETF.
Pair scorecard
QLD costs 0.11 points a year less; their one-year returns differ by 3.0 points; QLD is far larger, $14.6bn against $13m.
Points (pts) are percentage points.
| Measure | QLD | QQQP |
|---|---|---|
| Return | ||
| Total return, 1 year | +21.3% | +18.3% |
| What its daily multiple gave, 3 months | 13.2% | |
| 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 | 2 times gives +13.8% | |
| Against its benchmark | ||
| What it tracks | Nasdaq-100 | Nasdaq-100 |
| Against its daily multiple, 3 months | 1.5 points short | |
| Against the whole-window multiple | 2.1 points short | |
| Cost and size | ||
| Expense ratio | 0.89% | 1.00% |
| Net assets | $14.6bn | $13m |
| Holdings | ||
| Holdings in common | not published | |
Side by side
As of Oct 27, 2026. Source: ETFIQ.
Window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | QLD | QQQP | QLD | QQQP | QLD | QQQP |
| 1 month | −6.9% | −6.8% | −6.2% | not meaningful | −0.7 pts | not meaningful |
| 3 months | +11.7% | +13.1% | +13.8% | not meaningful | −2.1 pts | not meaningful |
| 6 months | +14.9% | +13.3% | +19.8% | not meaningful | −4.9 pts | not meaningful |
| 1 year | +21.3% | +18.3% | +30.8% | not meaningful | −9.5 pts | not meaningful |
| 3 years | +232.6% | – | not meaningful | – | not meaningful | – |
| Since launchNot the same days: QLD Jun 2006 · QQQP Oct 2024 | +9,088.4% | +80.5% | not meaningful | not meaningful | not meaningful | not meaningful |
Source: ETFIQ. – means no data for this window. Open this comparison in the app →
Of that 2.1, daily compounding is −0.6 points, which any 2 times fund would show over the same path, and the fund itself is −1.5 points against 2 times each day's move, compounded.
Over the three months to Oct 27, 2026, QLD returned 11.7%, against 13.2% for twice QQQ's daily moves. Read the multiple against the whole window instead and 2 times QQQ's 6.9% implies +13.8%, which makes QLD look 2.1 points short. That is not the fund's objective, which is daily. QLD aims to return +2 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 +2 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.
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How this is computed
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, QLD against QQQP, data as of Oct 27, 2026. https://etfiq.com/compare/leverage/qld-vs-qqqp
ETFIQ. (Oct 27, 2026). QLD against QQQP. Retrieved from https://etfiq.com/compare/leverage/qld-vs-qqqp
[QLD against QQQP (ETFIQ, Oct 27, 2026)](https://etfiq.com/compare/leverage/qld-vs-qqqp)
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