# QLD (ProShares Ultra QQQ)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: QLD returned +1.9% where its own daily promise gave +3.3%, 1.4 points short.

## Key facts

- QLD, what QQQ did: +2.1%, as of Sep 30, 2026.
- QLD, what 2 times a day gives: +3.3%, as of Sep 30, 2026.
- QLD, what the fund returned: +1.9%, as of Sep 30, 2026.
- QLD, the fund itself cost: −1.4 pts, as of Sep 30, 2026.
- QLD, net assets: $15.1bn (issuer page, as of Sep 30, 2026).
- QLD, expense ratio: 0.89% (485BPOS XBRL, Sep 25, 2026).

## QLD over each window to Sep 30, 2026

| Window | Fund | QQQ | +2x the move | Difference | QQQ moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +6.0% | +3.3% | +6.6% | −0.6 pts | 16% |
| 3 months | +1.9% | +2.1% | +4.2% | −2.4 pts | 19% |
| 6 months | +53.2% | +26.9% | +53.7% | −0.5 pts | 22% |
| 1 year | +39.6% | +23.8% | +47.6% | −7.9 pts | 20% |
| 3 years | +224.6% | +110.0% | not meaningful over this window | not meaningful over this window | 20% |
| Since launch | +10175.7% | +1737.5% | 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 +2.1% over this window, too little to read a multiple from | ETFIQ |
| Underlying | QQQ | ETFIQ |
| Segment | broad index, US large cap | ETFIQ |
| Net assets | $15.1bn | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.89% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 19% annualized | ETFIQ |

## Questions

### Did QLD return +2 times QQQ?

Over the window to Sep 30, 2026, QQQ moved +2.1% and QLD returned +1.9%. 2 times that move is +4.2%, so the fund came out 2.4 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 30, 2026. https://etfiq.com/funds/qld
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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