# QLD (ProShares Ultra QQQ)

ProShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: QLD returned −4.0% where its own daily promise gave −2.8%, 1.3 points short.

## Key facts

- QLD, what QQQ did: −0.8%, as of Sep 11, 2026.
- QLD, what +2 times a day gives: −2.8%, as of Sep 11, 2026.
- QLD, what the fund returned: −4.0%, as of Sep 11, 2026.
- QLD, the fund itself cost: −1.3 pts, as of Sep 11, 2026.
- QLD, net assets: $14.1bn (issuer page, as of Sep 11, 2026).
- QLD, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## QLD over each window to Sep 11, 2026

| Window | Fund | QQQ | +2x the move | Difference | QQQ moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −3.0% | −1.2% | −2.4% | −0.6 pts | 13% |
| 3 months | −4.0% | −0.8% | −1.6% | −2.5 pts | 22% |
| 6 months | +38.4% | +20.7% | +41.4% | −3.0 pts | 22% |
| 1 year | +37.9% | +23.0% | +46.0% | −8.0 pts | 20% |
| 3 years | +180.9% | +95.1% | +190.2% | −9.3 pts | 20% |
| Since launch | +9517.6% | +1673.9% | not meaningful over this window | not meaningful over this window | 21% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of QQQ, reset daily | ETFIQ |
| Multiple a holder actually got over the window | QQQ moved −0.8% over this window, too little to read a multiple from | ETFIQ |
| Underlying | QQQ | ETFIQ |
| Segment | broad index, us large cap | ETFIQ |
| Net assets | $14.1bn | issuer page, as of Sep 11, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 23, 2025 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 22% annualized | ETFIQ |

## Questions

### Did QLD return +2 times QQQ?

Over the window to Sep 11, 2026, QQQ moved −0.8% and QLD returned −4.0%. 2 times that move is −1.6%, so the fund came out 2.5 points short of it.

### Why does QLD not return +2 times over a year?

Because it resets daily. QLD aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, QLD, data as of Sep 11, 2026. https://etfiq.com/funds/QLD
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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