ETF Comparison

QLD vs TQQQ: Which Is the Better Pick in 2026?

A head-to-head comparison of ProShares Ultra QQQ and ProShares UltraPro QQQ covering yield, cost, risk, and income potential.

Data updated July 21, 2026

ProShares

ETFs165

Total AUM$120B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

ProShares is known for offering leveraged and inverse ETFs that provide amplified exposure to market movements, along with thematic and income-focused strategies. Their fund lineup spans digital assets (including Bitcoin and Ethereum exposure through BITO and EETH), dividend strategies like the Dividend Aristocrats fund (NOBL), covered call income strategies, and leveraged/inverse products that track major indices with 2x or 3x daily multipliers (such as SSO and TQQQ for tech-heavy portfolios). With 23 ETFs across specialized families including leveraged products, money market funds, and sector-specific offerings, ProShares serves investors seeking both traditional income and alternative exposure strategies.

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Side-by-side snapshot

	QLD	TQQQ
Full name	ProShares Ultra QQQ	ProShares UltraPro QQQ
Issuer	ProShares	ProShares
Last Close	$86.03 as of July 21, 2026	$67.65 as of July 21, 2026
Distribution yield	0.28%	1.01%
Distribution Safety Score™	76	80
Expense ratio	0.95%	0.88%
AUM	$13.0B	$32.8B
Distribution frequency	Quarterly	Quarterly
Underlying index	Nasdaq-100 Index	Nasdaq-100 Index
Objective	Seeks daily investment results, before fees, that correspond to two times the daily performance of the Nasdaq-100 Index.	Seek daily investment results, before fees, that correspond to three times the daily performance of the Nasdaq-100 Index.
Asset class	Equity	Equity
Inception date	06/19/2006	02/09/2010
Beta	2.56	3.96
Last dividend	$0.0610	$0.1712
Ex-dividend date	06/24/2026	06/24/2026

Bottom lineChoose QLD if you want broad equity exposure. Choose TQQQ if you want higher current income (1.01% vs 0.28% for QLD).

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

QLD has lagged TQQQ over the trailing twelve months, posting a 40.53% total return against 54.63%. The lead holds up over 10 years too: TQQQ has compounded at 41.12% a year, against 33.58% for QLD. QLD has been the steadier holding, though — annualized volatility of 40.3% against 60.1% for TQQQ. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	3Y	5Y	10Y	Since Feb 2010	Volatility	Sharpe	Sortino	Max drawdown
QLD	22.83%	40.53%	37.62%	19.39%	33.58%	32.87%	40.3%	0.69	0.96	-42.3%
TQQQ	29.74%	54.63%	48.12%	18.30%	41.12%	42.29%	60.1%	0.58	0.80	-58.0%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 20, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Feb 2010” measures every fund from February 11, 2010 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

QLD (ProShares Ultra QQQ) and TQQQ (ProShares UltraPro QQQ) are both quarterly-pay dividend ETFs, but they take different approaches.

TQQQ offers the higher yield at 1.01% vs 0.28% for QLD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

TQQQ is cheaper with an expense ratio of 0.88% compared to 0.95%.

TQQQ is the larger fund by assets ($32.8B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose QLD

ProShares Ultra QQQ

Want broad equity exposure.
Prefer lower volatility — a beta of 2.6 vs 4.0 for TQQQ.

Choose TQQQ

ProShares UltraPro QQQ

Want higher current income — TQQQ yields 1.01% vs 0.28% for QLD.
Want broad equity exposure.
Want to keep costs low — a 0.88% expense ratio vs 0.95% for QLD.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

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Deep dive

Yield & income

On a $10,000 investment, QLD would generate roughly $2.33/month, while TQQQ would produce $8.42/month, at current distribution rates. Both pay quarterly distributions.

QLD yield0.28%

TQQQ yield1.01%

Monthly diff on $10K$6.08

Cost & efficiency

Over 10 years on $10,000, QLD would cost approximately $950 in fees vs $880 for TQQQ (simplified, not compounded). The $70.00 difference may be offset by yield or performance.

QLD ER0.95%

TQQQ ER0.88%

Strategy & risk

Both QLD and TQQQ wrap Nasdaq-100 Index with similar strategies (leverage and leverage). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 2.56 for QLD and 3.96 for TQQQ, indicating QLD is less volatile relative to the market.

QLD beta2.56

TQQQ beta3.96

Fund details

QLD is managed by ProShares (launched 06/19/2006) with $13.0B in assets. TQQQ is managed by ProShares (launched 02/09/2010) with $32.8B in assets.

QLD AUM$13.0B

TQQQ AUM$32.8B

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Frequently asked questions

Is QLD or TQQQ better for dividend income?

It depends on your goals. TQQQ currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between QLD and TQQQ?

Both QLD (ProShares Ultra QQQ) and TQQQ (ProShares UltraPro QQQ) track Nasdaq-100 Index with similar approaches — the labels "leverage" and "leverage" describe closely related mechanics. The real differences show up in yield target (0.28% vs 1.01%), expense ratio (0.95% vs 0.88%), and issuer (ProShares vs ProShares).

Can I hold both QLD and TQQQ?

You can, but expect significant overlap. Both funds use similar strategies on Nasdaq-100 Index, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Which has lower fees, QLD or TQQQ?

QLD has an expense ratio of 0.95% while TQQQ charges 0.88%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in QLD vs TQQQ generate?

At current rates, $10,000 in QLD would generate roughly $2.33 per month ($28.00 annually). The same in TQQQ would produce about $8.42 per month ($101.00 annually).

Which has performed better historically, QLD or TQQQ?

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QLD vs TQQQ — at a glance

Generated July 2026 from current fund data.

Overview

QLD and TQQQ are both leveraged ETFs tracking the Nasdaq-100 Index, issued by ProShares. QLD aims for 2x daily performance while TQQQ targets 3x daily performance. Both are designed for tactical, shorter-term traders rather than buy-and-hold investors, since daily rebalancing compounds volatility over longer periods.

How they differ

The most obvious distinction is leverage: TQQQ delivers 3x daily Nasdaq-100 exposure with a beta of 3.96, versus QLD's 2x exposure and beta of 2.56. This creates a material difference in return amplification—and drawdown amplification—during volatile market periods.

TQQQ also carries a lower expense ratio at 0.88% versus QLD's 0.95%, though that difference shrinks alongside its higher AUM ($34.0B versus $13.2B). The yield difference is also notable: TQQQ distributes 0.89% annually while QLD distributes just 0.26%, reflecting TQQQ's larger asset base and longer price appreciation history since inception in 2010 versus QLD's 2006 launch.

The core risk differential stems from leverage intensity. TQQQ's 3x multiplier means decay from daily rebalancing accelerates faster during sideways or choppy markets, and recovery after a sharp drawdown requires a steeper subsequent rally to break even on a percentage basis.

Who each is best for

QLD: Fits traders seeking Nasdaq-100 amplification with a moderate leverage profile—roughly 2x volatility and return—and who have a shorter time horizon (days to weeks rather than months).

TQQQ: Designed for investors comfortable with aggressive daily leverage (3x exposure) and the compounding effects of daily rebalancing, typically deployed for tactical short-term positioning rather than core holdings.

Key risks to know

Daily rebalancing decay: Both funds reset to their target leverage daily. In choppy sideways markets, this forces buy-high, sell-low behavior that erodes NAV relative to a buy-and-hold leveraged position. TQQQ's 3x multiplier compounds this drag faster than QLD's 2x.

Volatility amplification and drawdown risk: QLD's beta of 2.56 means it swings roughly 2.5 times as hard as the Nasdaq-100 in both directions; TQQQ's 3.96 beta amplifies moves by nearly 4x. A 20% market decline translates to roughly 51% loss in TQQQ versus 51% in QLD, but TQQQ requires a 102% rally just to break even afterward.

Tracking error over longer periods: These funds are engineered for daily matching, not weekly or monthly holding periods. Over a full year of volatile trading, the path matters enormously—a fund that gains 50% through a jagged route may trail a simple 2x or 3x buy-and-hold strategy significantly.

Interest rate and dividend sensitivity: Nasdaq-100 companies tend to be growth-heavy and interest-rate-sensitive. Rising rates compress valuations more sharply for large-cap tech, and leverage amplifies that compression for both funds.

Bottom line

If you want moderate Nasdaq-100 amplification with a lower cost footprint, QLD delivers 2x exposure in a simpler package. If you're comfortable with aggressive 3x daily leverage and the cost of daily rebalancing decay in exchange for maximum return capture in trending markets, TQQQ's larger AUM and lower expense ratio make it the more liquid choice. Both are tactical instruments best suited to shorter holding periods; neither is designed to compound wealth over years without active management. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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