DV
Dividend Vision

ETF Comparison

QLD vs TQQQ: Two Daily-Reset Nasdaq Levered Funds

A head-to-head of ProShares Ultra QQQ and UltraPro QQQ covering daily reset, cost, and why neither is a substitute for the index.

Data updated August 19, 2026

Best for

  • QLDInvestors who want broad equity exposure.
  • TQQQInvestors who want higher current income (0.94% vs 0.13% for QLD).

Jump to the side-by-side numbers

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 41.69% total return against 55.74%. The lead holds up over 10 years too: TQQQ has compounded at 40.15% a year, against 33.03% for QLD. QLD has been the steadier holding, though — annualized volatility of 40.7% against 60.7% for TQQQ. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1Y3Y5Y10YSince Feb 2010Volatility Sharpe Sortino Max drawdown
QLD28.86%41.69%43.55%19.57%33.03%33.07%40.7%0.781.11-42.3%
TQQQ38.20%55.74%57.62%18.41%40.15%42.58%60.7%0.680.94-58.0%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricQLDTQQQ
Full nameProShares Ultra QQQProShares UltraPro QQQ
IssuerProSharesProShares
Last Close$90.65 as of August 19, 2026$72.53 as of August 19, 2026
Distribution yield0.13%0.94%
Distribution Safety Score™ 5656
Expense ratio0.95%0.82%
AUM$14.5B$38.5B
Distribution frequencyQuarterlyQuarterly
Underlying indexNasdaq-100 IndexNasdaq-100 Index
ObjectiveSeeks 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 classEquityEquity
Inception date06/19/200602/09/2010
Beta2.64.02
Last dividend$0.0610$0.1710
Ex-dividend date06/24/202606/24/2026

Bottom lineChoose QLD if you want broad equity exposure. Choose TQQQ if you want higher current income (0.94% vs 0.13% for QLD).

QLD vs TQQQ: 2x or 3x daily Nasdaq-100?

Same index, two daily-reset products. Neither is a substitute for the unlevered Nasdaq-100.

QLDTQQQ
Daily target2x Nasdaq-1003x Nasdaq-100
Expense ratio0.95%0.82%
Daily resetYesYes

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Daily leverage reset. QLD and TQQQ target a multiple of the index's DAILY move, resetting every session. Over weeks and months the compounding of daily resets (volatility decay) can drag returns far below the stated multiple, especially in choppy markets — and losses are magnified the same way gains are.

Learn the mechanics: Why daily-reset leverage decays

Model this comparison:
Compare in my portfolio Forecast income Save to watchlist

Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

ProShares
ETFs169
Total AUM$130B

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.

See our curated list of related YouTube videos on QLD and TQQQ.

See all ProShares ETFs

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

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 0.94% vs 0.13% 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 0.82% compared to 0.95%.

TQQQ is the larger fund by assets ($38.5B), 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 0.94% vs 0.13% for QLD.
  • Want broad equity exposure.
  • Want to keep costs low — a 0.82% 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.

Deep dive

Yield & income

On a $10,000 investment, QLD would generate roughly $1.08/month, while TQQQ would produce $7.83/month, at current distribution rates. Both pay quarterly distributions.

QLD yield0.13%
TQQQ yield0.94%
Monthly diff on $10K$6.75

Cost & efficiency

Over 10 years on $10,000, QLD would cost approximately $950 in fees vs $820 for TQQQ (simplified, not compounded). The $130.00 difference may be offset by yield or performance.

QLD ER0.95%
TQQQ ER0.82%

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 2.6 for QLD and 4.02 for TQQQ, making QLD the less volatile of the two by this measure.

QLD beta2.6
TQQQ beta4.02

Fund details

QLD is managed by ProShares (launched 06/19/2006) with $14.5B in assets. TQQQ is managed by ProShares (launched 02/09/2010) with $38.5B in assets.

QLD AUM$14.5B
TQQQ AUM$38.5B
Ready to act?
Open in Comparator Model in portfolio See pricing

Enjoyed this page?

Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.

Frequently asked questions

What is the difference between QLD and TQQQ?

Same Nasdaq-100 starting point, different daily leverage. QLD (ProShares Ultra QQQ) seeks twice the daily move. TQQQ (ProShares UltraPro QQQ) seeks three times, then resets. That daily reset is the product. Cost is 0.95% versus 0.82%; distributions are 0.13% and 0.94% as of August 2026. Neither is a substitute for the unlevered index.

What is the current distribution yield for QLD and TQQQ?

QLD currently distributes 0.13% and TQQQ 0.94%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

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.

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.

Is QLD or TQQQ safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: QLD scores 56, TQQQ scores 56. Neither has a clear safety edge on that measure. QLD has also shown lower price volatility (beta 2.60 vs 4.02 for TQQQ). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, QLD or TQQQ?

QLD has an expense ratio of 0.95% while TQQQ charges 0.82%. 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 $1.08 per month ($13.00 annually). The same in TQQQ would produce about $7.83 per month ($94.00 annually).

Which has performed better historically, QLD or TQQQ?

QLD has lagged TQQQ over the trailing twelve months, posting a 41.69% total return against 55.74%. The lead holds up over 10 years too: TQQQ has compounded at 40.15% a year, against 33.03% for QLD. QLD has been the steadier holding, though — annualized volatility of 40.7% against 60.7% for TQQQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

People also compare QLD with

QLD vs QQQ

People also compare TQQQ with

TQQQ vs QQQTQQQ vs SOXLTQQQ vs TECLTQQQ vs UPRO

Popular comparisons

JEPI vs JEPQSCHD vs VYMVOO vs VTIJEPI vs SCHD

QLD vs TQQQ — at a glance

Generated August 15, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

QLD and TQQQ are both leveraged ETFs tracking the Nasdaq-100 Index, issued by ProShares. QLD targets 2x daily performance; TQQQ targets 3x daily performance. The key distinction is leverage magnitude: TQQQ amplifies both gains and losses more aggressively, which affects volatility, decay risk, and suitability for different holding periods.

How they differ

TQQQ uses triple leverage versus QLD's double leverage, meaning a 1% daily move in the Nasdaq-100 produces roughly a 3% move in TQQQ and a 2% move in QLD. Over multi-day or longer holding periods, this difference compounds significantly. TQQQ has a beta of 4.02 compared to QLD's 2.6, confirming the amplified volatility. TQQQ also carries a higher distribution rate (0.89% vs. 0.12%), though both expense ratios are similar—TQQQ's 0.88% is marginally lower than QLD's 0.95%. TQQQ's $37.8B AUM dwarfs QLD's $14.1B, giving it deeper liquidity and tighter spreads.

Who each is best for

QLD: Fits investors seeking amplified Nasdaq-100 exposure with a moderate leverage profile, willing to tolerate 2.6x beta and daily rebalancing drag but seeking a less extreme volatility envelope than triple leverage.

TQQQ: Designed for traders or tactical allocators with short time horizons who want maximum leverage to Nasdaq-100 gains, comfortable with 4x beta swings and accepting significant drawdown amplification in down markets.

Key risks to know

  • Daily rebalancing decay accelerates with leverage: Both funds reset their hedge ratios daily, crystallizing losses and creating drag in sideways or mean-reverting markets. The effect is more severe in TQQQ due to 3x leverage; a 50% swing in the Nasdaq-100 compressed into frequent small moves will erode TQQQ's NAV relative to a buy-and-hold triple-leveraged position far more than QLD's.
  • Leverage amplifies drawdowns: TQQQ's 4.02 beta means a 20% Nasdaq-100 decline translates to roughly an 80% loss in TQQQ; QLD's 2.6 beta produces roughly a 52% loss. Recovery from such drawdowns is mathematically nonlinear—a 50% loss requires a 100% gain to break even.
  • These funds are designed for intraday or very short-term trading, not buy-and-hold: Holding either through extended sideways periods or volatile chop will erode returns relative to an un-leveraged Nasdaq-100 ETF. The longer the holding period, the more pronounced this effect, especially in TQQQ.
  • Concentration in large-cap tech: Both track the Nasdaq-100, which is heavily weighted to megacap technology names. Leverage amplifies the impact of sector-specific downturns or valuation compression in that group.

Bottom line

If you want leveraged Nasdaq-100 exposure and can tolerate moderate volatility with a slightly longer time horizon, QLD's 2x leverage and lower beta offer a less extreme volatility profile. If you're trading a tactical short-term position and can manage the drawdown risk that comes with 3x leverage and a 4.02 beta, TQQQ's deeper liquidity and marginally lower expense ratio provide efficiency. Both are daily-reset vehicles best held for hours or days, not months or years; holding either as a core position will likely underperform an un-leveraged alternative due to decay.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener