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leveraged and inverse ETFs to trade","description":"TQQQ leads cheapest leveraged and inverse ETFs to trade at 0.005% (cost to trade), as of Oct 22, 2026. 100 funds from ETFIQ\u2019s own published figures.","url":"https://etfiq.com/rankings/trading-cheapest-leveraged-etfs-to-trade","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/trading-score.json"}]},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What does an ETF\u2019s bid-ask spread cost?","acceptedAnswer":{"@type":"Answer","text":"Half the spread each way, on average, when you trade at the quote. A limit order at the midpoint plus half the spread caps it."}},{"@type":"Question","name":"Which ETF tops this list as of Oct 22, 2026?","acceptedAnswer":{"@type":"Answer","text":"TQQQ, at 0.005% one way, $0.50 on $10,000, from a 30-day median spread of 0.01% to Oct 22, 2026."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Rankings","item":"https://etfiq.com/rankings/"},{"@type":"ListItem","position":3,"name":"Cheapest leveraged and inverse ETFs to tra...","item":"https://etfiq.com/rankings/trading-cheapest-leveraged-etfs-to-trade"}]},{"@type":"WebPage","name":"Cheapest Leveraged ETFs to Trade: Bid-Ask Spreads","description":"TQQQ leads cheapest leveraged and inverse ETFs to trade at 0.005% (cost to trade), as of Oct 22, 2026. 100 funds from ETFIQ\u2019s own published figures.","url":"https://etfiq.com/rankings/trading-cheapest-leveraged-etfs-to-trade","dateModified":"2026-10-22","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":14145,"truncated":false,"content":"ETFIQ / Rankings / Cheapest leveraged and inverse ETFs to tra... \n \n As of Oct 22, 2026 . Rebuilt every trading night.\n Cheapest leveraged and inverse ETFs to trade\n As of Oct 22, 2026, TQQQ\u2019s 30-day median bid-ask spread is 0.01%, so a $10,000 order costs $0.50 one way. See 100 funds ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among leveraged and inverse ETFs. Updated Oct 22, 2026.\n Cheapest leveraged and inverse ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among leveraged and inverse ETFs, as of Oct 22, 2026. Scores and tiers as of Oct 22, 2026. Cost to trade is one way for a $10,000 order, half the issuer\u2019s median spread over the 30 days to Oct 21, 2026 to Oct 22, 2026. Full cost to own is for $10,000 held a year, with the median premium over 12 months to Oct 22, 2026. Source: ETFIQ. # Ticker Fund Score Tier Cost to trade At $10,000 Full cost to own \u00b7 1 yr Fee Flags Net assets \n 1 TQQQ ProShares UltraPro QQQ 97 Trades like a giant 0.005% $0.50 0.84% 0.78% None $33.8bn \n 2 QLD ProShares Ultra QQQ 98 Trades like a giant 0.005% $0.50 0.92% 0.89% None $13.7bn \n 3 SSO ProShares Ultra S&P500 97 Trades like a giant 0.005% $0.50 0.88% 0.84% None $8.6bn \n 4 UPRO ProShares UltraPro S&P500 95 Trades like a giant 0.010% $1.00 0.95% 0.88% None $5.4bn \n 5 UGL ProShares Ultra Gold 75 Liquid 0.010% $1.00 1.43% 0.95% None $686m \n 6 UCO ProShares Ultra Bloomberg Crude Oil 82 Liquid 0.010% $1.00 1.41% 0.95% Price can drift from value $474m \n 7 SDS ProShares UltraShort S&P500 97 Trades like a giant 0.010% $1.00 0.97% 0.91% None $383m \n 8 SQQQ ProShares UltraPro Short QQQ 93 Trades like a giant 0.015% $1.50 1.02% 0.94% None $2.0bn \n 9 SH ProShares Short S&P500 95 Trades like a giant 0.015% $1.50 0.93% 0.88% None $956m \n 10 UDOW ProShares UltraPro Dow30 89 Trades like a giant 0.015% $1.50 1.03% 0.95% None $919m \n 11 SPXU ProShares UltraPro Short S&P500 89 Trades like a giant 0.015% $1.50 0.99% 0.90% None $423m \n 12 PSQ ProShares Short QQQ 93 Trades like a giant 0.020% $2.00 1.01% 0.95% None $647m \n 13 UWM ProShares Ultra Russell2000 88 Trades like a giant 0.020% $2.00 1.05% 0.95% None $213m \n 14 SDOW ProShares UltraPro Short Dow30 84 Liquid 0.020% $2.00 1.04% 0.95% None $143m \n 15 TBF ProShares Short 20+ Year Treasury 86 Trades like a giant 0.020% $2.00 1.04% 0.95% None $122m \n 16 KOLD ProShares UltraShort Bloomberg Natural Gas 73 Liquid 0.020% $2.00 1.55% 0.95% Small but liquid, Price can drift from value $97m \n 17 GLL ProShares UltraShort Gold 66 Liquid with care 0.020% $2.00 1.46% 0.95% None $92m \n 18 SRTY ProShares UltraPro Short Russell2000 86 Trades like a giant 0.020% $2.00 1.10% 0.95% Small but liquid $70m \n 19 ZSL ProShares UltraShort Silver 58 Liquid with care 0.020% $2.00 1.97% 0.95% Price can drift from value $69m \n 20 TWM ProShares UltraShort Russell2000 88 Trades like a giant 0.020% $2.00 1.05% 0.95% Small but liquid $61m \n 21 USD ProShares Ultra Semiconductors 88 Trades like a giant 0.025% $2.50 1.06% 0.94% None $2.3bn \n 22 SCO ProShares UltraShort Bloomberg Crude Oil 71 Liquid 0.025% $2.50 1.43% 0.95% Price can drift from value $876m \n 23 DDM ProShares Ultra Dow30 88 Trades like a giant 0.025% $2.50 1.03% 0.95% None $536m \n 24 NVDX T-REX 2X LONG NVIDIA DAILY TARGET ETF Not scored No tier 0.025% $2.50 Not measured 1.05% None $389m \n 25 BOIL ProShares Ultra Bloomberg Natural Gas 70 Liquid 0.025% $2.50 1.57% 0.95% Price can drift from value $335m \n 26 URTY ProShares UltraPro Russell2000 84 Liquid 0.025% $2.50 1.11% 0.95% None $275m \n 27 DOG ProShares Short Dow30 91 Trades like a giant 0.025% $2.50 1.03% 0.95% None $104m \n 28 AGQ ProShares Ultra Silver 53 Thin 0.030% $3.00 1.97% 0.95% Big but costly, Price can drift from value $1.0bn \n 29 ETHT ProShares Ultra Ether ETF 85 Trades like a giant 0.030% $3.00 1.09% 0.96% None $245m \n 30 SPCF ProShares Ultra SpaceX 84 Liquid 0.030% $3.00 1.12% 0.95% Small but liquid $87m \n 31 BITI ProShares Short Bitcoin ETF 87 Trades like a giant 0.030% $3.00 1.12% 1.02% Small but liquid $73m \n 32 UNHG Leverage Shares 2X Long UNH Daily ETF Not scored No tier 0.030% $3.00 Not measured 0.77% None $71m \n 33 SJB ProShares Short High Yield Not scored No tier 0.030% $3.00 Not measured 0.95% None $62m \n 34 DXD ProShares UltraShort Dow30 87 Trades like a giant 0.030% $3.00 1.05% 0.95% Small but liquid $44m \n 35 EUM ProShares Short MSCI Emerging Markets 86 Trades like a giant 0.030% $3.00 1.07% 0.95% Small but liquid $15m \n 36 SEF ProShares Short Financials 87 Trades like a giant 0.030% $3.00 1.04% 0.95% Small but liquid $14m \n 37 REK ProShares Short Real Estate 78 Liquid 0.030% $3.00 1.06% 0.95% Small but liquid, One dealer $12m \n 38 BITU ProShares Ultra Bitcoin ETF 84 Liquid 0.035% $3.50 1.08% 0.95% None $543m \n 39 RAM T-REX 2X LONG DRAM DAILY TARGET ETF Not scored No tier 0.035% $3.50 Not measured 1.25% None $440m \n 40 TSLT T-REX 2X LONG TESLA DAILY TARGET ETF Not scored No tier 0.035% $3.50 Not measured 1.05% None $175m \n 41 RWM ProShares Short Russell2000 88 Trades like a giant 0.035% $3.50 1.06% 0.95% None $144m \n 42 SBIT ProShares UltraShort Bitcoin ETF 84 Liquid 0.035% $3.50 1.09% 0.95% None $114m \n 43 DUG ProShares UltraShort Energy 82 Liquid 0.035% $3.50 1.09% 0.95% Small but liquid $33m \n 44 ROM ProShares Ultra Technology 88 Trades like a giant 0.040% $4.00 1.06% 0.93% None $1.2bn \n 45 QID ProShares UltraShort QQQ 88 Trades like a giant 0.040% $4.00 1.07% 0.95% None $235m \n 46 SKF ProShares UltraShort Financials 84 Liquid 0.040% $4.00 1.10% 0.95% Small but liquid $10m \n 47 UYG ProShares Ultra Financials 84 Liquid 0.045% $4.50 1.09% 0.94% None $783m \n 48 DIG ProShares Ultra Energy 76 Liquid 0.045% $4.50 1.11% 0.95% Small but liquid $93m \n 49 TSLZ T-REX 2X INVERSE TESLA DAILY TARGET ETF Not scored No tier 0.045% $4.50 Not measured 1.05% None $22m \n 50 SPCH Leverage Shares 2X Long SPCX Daily ETF Not scored No tier 0.050% $5.00 Not measured 0.75% None $386m \n 51 SPAX T-REX 2X Long SPCX Daily Target ETF Not scored No tier 0.050% $5.00 Not measured 1.50% None $60m \n 52 SSG ProShares UltraShort Semiconductors 78 Liquid 0.050% $5.00 1.14% 0.95% Small but liquid $41m \n 53 SKHZ Leverage Shares 1X Short SK Hynix Daily ETF Not scored No tier 0.050% $5.00 Not measured 0.75% None $5m \n 54 GMEU T-REX 2X LONG GME DAILY TARGET ETF Not scored No tier 0.055% $5.50 Not measured 1.50% None $26m \n 55 SRS ProShares UltraShort Real Estate 75 Liquid 0.055% $5.50 1.12% 0.95% Small but liquid $17m \n 56 UPW ProShares Ultra Utilities 78 Liquid 0.055% $5.50 1.17% 0.95% Small but liquid $13m \n 57 UGE ProShares Ultra Consumer Staples 74 Liquid 0.055% $5.50 1.17% 0.95% Small but liquid $10m \n 58 BMNU T-REX 2X LONG BMNR DAILY TARGET ETF Not scored No tier 0.060% $6.00 Not measured 1.50% None $351m \n 59 SSPC Leverage Shares 2X Short SPCX Daily ETF Not scored No tier 0.060% $6.00 Not measured 0.75% None $133m \n 60 SNDG Leverage Shares 2X Long SNDK Daily ETF Not scored No tier 0.060% $6.00 Not measured 0.75% None $71m \n 61 CRMG Leverage Shares 2X Long CRM Daily ETF Not scored No tier 0.060% $6.00 Not measured 0.78% None $48m \n 62 EUO ProShares UltraShort Euro 76 Liquid 0.060% $6.00 1.17% 0.95% Small but liquid $45m \n 63 NVDQ T-REX 2X INVERSE NVIDIA DAILY TARGET ETF Not scored No tier 0.060% $6.00 Not measured 1.05% None $20m \n 64 MSFX T-REX 2X LONG MICROSOFT DAILY TARGET ETF Not scored No tier 0.060% $6.00 Not measured 1.05% None $18m \n 65 UCC ProShares Ultra Consumer Discretionary 80 Liquid 0.060% $6.00 1.14% 0.95% Small but liquid $9m \n 66 QQXL ProShares Ultra QQQ Top 30 80 Liquid 0.060% $6.00 1.14% 0.96% Small but liquid $5m \n 67 SMDD ProShares UltraPro Short MidCap400 77 Liquid 0.060% $6.00 1.20% 0.95% Small but liquid $2m \n 68 SDP ProShares UltraShort Utilities 75 Liquid 0.060% $6.00 1.18% 0.95% Small but liquid $2m \n 69 RXL ProShares Ultra Health Care 80 Liquid 0.065% $6.50 1.14% 0.95% None $107m \n 70 PYPG Leverage Shares 2X Long PYPL Daily ETF Not scored No tier 0.065% $6.50 Not measured 0.77% None $15m \n 71 RAMZ T-REX 2X INVERSE DRAM DAILY TARGET ETF Not scored No tier 0.065% $6.50 Not measured 1.50% None $9m \n 72 LTL ProShares Ultra Communication Services 72 Liquid 0.065% $6.50 1.19% 0.95% Small but liquid $5m \n 73 MYY ProShares Short MidCap400 82 Liquid 0.065% $6.50 1.12% 0.95% Small but liquid $4m \n 74 SCC ProShares UltraShort Consumer Discretionary 75 Liquid 0.065% $6.50 1.16% 0.95% Small but liquid, One dealer $3m \n 75 SZK ProShares UltraShort Consumer Staples 76 Liquid 0.065% $6.50 1.20% 0.95% Small but liquid $633,342 \n 76 MSTU T-REX 2X LONG MSTR DAILY TARGET ETF Not scored No tier 0.070% $7.00 Not measured 1.05% None $795m \n 77 TBT ProShares UltraShort 20+ Year Treasury 74 Liquid 0.070% $7.00 1.14% 0.93% None $298m \n 78 MVV ProShares Ultra MidCap400 76 Liquid 0.070% $7.00 1.14% 0.95% None $145m \n 79 AVGG Leverage Shares 2X Long AVGO Daily ETF Not scored No tier 0.070% $7.00 Not measured 0.76% None $43m \n 80 AAPX T-REX 2X LONG APPLE DAILY TARGET ETF Not scored No tier 0.070% $7.00 Not measured 1.05% None $9m \n 81 UCOP ProShares Ultra Copper K-1 Free ETF 65 Liquid with care 0.070% $7.00 1.18% 0.95% None $4m \n 82 AMZG Leverage Shares 2X Long AMZN Daily ETF Not scored No tier 0.070% $7.00 Not measured 0.75% None $3m \n 83 SKHX Leverage Shares 2X Long SK Hynix Daily ETF Not scored No tier 0.080% $8.00 Not measured 0.75% None $65m \n 84 UXI ProShares Ultra Industrials 77 Liquid 0.080% $8.00 1.20% 0.95% Small but liquid $25m \n 85 EQQQ ProShares Ultra QQQ Equal Weight 76 Liquid 0.080% $8.00 1.16% 0.95% Small but liquid $5m \n 86 MZZ ProShares UltraShort MidCap400 72 Liquid 0.080% $8.00 1.19% 0.95% Small but liquid, One dealer $5m \n 87 GOOL Leverage Shares 2X Long GOOGL Daily ETF Not scored No tier 0.080% $8.00 Not measured 0.99% None $4m \n 88 KBAB KraneShares 2x Long BABA Daily ETF Not scored No tier 0.080% $8.00 Not measured 0.99% None $3m \n 89 EFO ProShares Ultra MSCI EAFE 61 Liquid with care 0.085% $8.50 1.20% 0.95% None $25m \n 90 UPV ProShares Ultra FTSE Europe 77 Liquid 0.085% $8.50 1.16% 0.95% Small but liquid $12m \n 91 EZJ ProShares Ultra MSCI Japan 65 Liquid with care 0.085% $8.50 1.46% 1.18% None $11m \n 92 SETH ProShares Short Ether ETF 72 Liquid 0.085% $8.50 1.17% 0.95% Small but liquid $8m \n 93 ROBN T-REX 2X LONG HOOD DAILY TARGET ETF Not scored No tier 0.090% $9.00 Not measured 1.05% None $98m \n 94 ETHD ProShares UltraShort Ether ETF 66 Liquid with care 0.090% $9.00 1.24% 0.95% None $55m \n 95 URE ProShares Ultra Real Estate 69 Liquid with care 0.090% $9.00 1.22% 0.95% None $51m \n 96 YXI ProShares Short FTSE China 50 61 Liquid with care 0.090% $9.00 1.20% 0.95% None $4m \n 97 BIS ProShares UltraShort Nasdaq Biotechnology 70 Liquid 0.090% $9.00 1.20% 0.95% Small but liquid $2m \n 98 AAPE Leverage Shares 2X Long AAPL Daily ETF Not scored No tier 0.090% $9.00 Not measured 0.75% None $971,300 \n 99 URSP ProShares Ultra S&P 500 Equal Weight 73 Liquid 0.095% $9.50 1.23% 0.95% Small but liquid $45m \n 100 RBLU T-REX 2X LONG RBLX DAILY TARGET ETF Not scored No tier 0.095% $9.50 Not measured 1.05% None $11m \n \n Method\n Every ETF ETFIQ places among leveraged and inverse ETFs whose issuer states a 30-day median bid-ask spread, by the cost to trade a $10,000 order one way: half that spread. A tie is broken by net assets. 252 of the 4,708 ETFs that may be listed qualify tonight, and the first 100 are shown. The IQ Liquidity Score measures trading conditions, not the fund, and no list here is a recommendation. The list sorts one published figure, with no scoring or weighting. Too new and closing funds are left out, as are funds no longer listed.\n Questions people ask\n What does an ETF\u2019s bid-ask spread cost? Half the spread each way, on average, when you trade at the quote. A limit order at the midpoint plus half the spread caps it. Which ETF tops this list as of Oct 22, 2026? TQQQ , at 0.005% one way, $0.50 on $10,000, from a 30-day median spread of 0.01% to Oct 22, 2026. Where to next\n ETF trading costs and liquidity How the IQ Liquidity Score is built Most liquid ETFs Most liquid small ETFs Low-volume ETFs with deep liquidity ETFs whose full cost to own is far above the fee Widest ETF premiums and discounts, last 30 days ETFs with the most days more than 1% from NAV ETFs with one active authorized participant ETFs with the most authorized participants The trading score file Where these figures came from\n Rule 6c-11, what every ETF must publish daily: its spread, premium and holdings SEC EDGAR, full-text search of fund filings SEC Form N-PORT, what a fund filed it holds Rule 19a-1, what a distribution notice must say ETFIQ links to the documents behind every figure; a link is not an endorsement.\n A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. ETFIQ, Cheapest leveraged and inverse ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among leveraged and inverse ETFs, data as of Oct 22, 2026. https://etfiq.com/rankings/trading-cheapest-leveraged-etfs-to-trade Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, Cheapest leveraged and inverse ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among leveraged and inverse ETFs, data as of Oct 22, 2026. https://etfiq.com/rankings/trading-cheapest-leveraged-etfs-to-trade APA ETFIQ. (Oct 22, 2026). Cheapest leveraged and inverse ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among leveraged and inverse ETFs. Retrieved from https://etfiq.com/rankings/trading-cheapest-leveraged-etfs-to-trade Markdown [Cheapest leveraged and inverse ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among leveraged and inverse ETFs (ETFIQ, Oct 22, 2026)](https://etfiq.com/rankings/trading-cheapest-leveraged-etfs-to-trade)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, Cheapest leveraged and inverse ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among leveraged and inverse ETFs, data as of Oct 22, 2026. https://etfiq.com/rankings/trading-cheapest-leveraged-etfs-to-trade"}