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 May 20, 2026

ProShares

ETFs20

Total AUM$92.1B

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

ProShares is known for offering specialized ETFs that blend traditional investment themes with alternative asset classes, particularly digital assets and dividend strategies. Their lineup of eight funds focuses on income generation through dividend aristocrats and covered call strategies, alongside exposure to cryptocurrencies like Bitcoin and Ethereum. The issuer serves investors seeking both traditional dividend income (NOBL, ISPY, ITWO) and exposure to emerging digital asset markets (BITO, BITU, EETH), positioning itself in the niche intersection of conventional dividend investing and cryptocurrency-linked products.

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

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Side-by-side snapshot

	QLD	TQQQ
Full name	ProShares Ultra QQQ	ProShares UltraPro QQQ
Issuer	ProShares	ProShares
Last Close	$90.20 as of May 20, 2026	$74.32 as of May 20, 2026
Distribution yield	0.10%	0.43%
Expense ratio	0.95%	0.82%
AUM	$12.0B	$31.3B
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	2.43	3.75
Last dividend	$0.01	$0.07
Ex-dividend date	03/25/2026	03/25/2026

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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.

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 0.43% vs 0.10% 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 ($31.3B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, QLD would generate roughly $0.83/month, while TQQQ would produce $3.58/month, at current distribution rates. Both pay quarterly distributions.

QLD yield0.10%

TQQQ yield0.43%

Monthly diff on $10K$2.75

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 2.43 for QLD and 3.75 for TQQQ, indicating QLD is less volatile relative to the market.

QLD beta2.43

TQQQ beta3.75

Fund details

QLD is managed by ProShares (launched 06/19/2006) with $12.0B in assets. TQQQ is managed by ProShares (launched 02/09/2010) with $31.3B in assets.

QLD AUM$12.0B

TQQQ AUM$31.3B

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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 (0.10% vs 0.43%), expense ratio (0.95% vs 0.82%), 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 0.82%. 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 $0.83 per month ($10.00 annually). The same in TQQQ would produce about $3.58 per month ($43.00 annually).

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QLD vs TQQQ — at a glance

Generated April 2026 from current fund data.

Overview

QLD and TQQQ are both leveraged ETFs tracking the Nasdaq-100 Index, issued by ProShares. The critical distinction: QLD targets 2x daily performance, while TQQQ targets 3x. Both are designed for short-term tactical trades or hedging, not buy-and-hold investing. Neither generates meaningful income relative to their volatility.

How they differ

The leverage multiplier is the fundamental split. QLD aims for 2x daily moves; TQQQ chases 3x. That extra leverage point shows up immediately in beta—QLD's is 2.26, TQQQ's is 3.46—meaning TQQQ will swing roughly 50% harder than QLD in both directions.

TQQQ is the larger fund by assets, holding $24.6 billion versus QLD's $8.4 billion, and it carries a slightly lower expense ratio (0.82% vs. 0.95%). TQQQ also pays a modestly higher distribution rate (0.57% vs. 0.12%), though both are trivial in absolute terms. Price volatility reflects the leverage: QLD's 52-week range is $35.98–$76.67; TQQQ's is $20.12–$60.69, showing the greater swings inherent in 3x leverage.

Who each is best for

QLD: Traders or tactical allocators with a high risk tolerance who want Nasdaq-100 leverage without the maximum multiplier; suitable for short-term hedges or tactical overweights in accounts that can tolerate daily rebalancing drag.

TQQQ: Aggressive traders seeking maximum daily leverage, highest conviction bets on Nasdaq momentum, and those comfortable with steeper drawdowns; better suited to volatile, shorter holding periods rather than multi-month positions.

Key risks to know

Daily rebalancing drag. Both funds reset their leverage daily. In sideways or choppy markets, this rebalancing compounds losses over time—a tax on volatility itself. The longer you hold, the worse this effect. TQQQ's 3x multiplier amplifies this drag substantially.

Decay in flat or declining markets. If the Nasdaq trades sideways, both funds will lose value even if the index returns to its starting point, because leverage resets daily. TQQQ decays faster due to higher leverage.

High sensitivity to interest rates. Both funds are equity leveraged vehicles tracking 100% technology and growth stocks. Rising rates tend to hit Nasdaq-100 constituents hardest. TQQQ's 3x sensitivity makes it especially vulnerable.

Not suitable for long-term holding. These are rebalancing vehicles designed for intraday or short-term tactical use. Holding either for months compounds tracking error and opportunity cost.

Bottom line

If you're timing a short-term Nasdaq bounce and want meaningful leverage without maximum risk, QLD's 2x gives you Nasdaq exposure with a slightly lower volatility footprint. If you're making a high-conviction tactical bet and can tolerate NAV swings approaching 3.5x the index, TQQQ's 3x multiplier and larger asset base may offer tighter daily tracking. Neither should be treated as a buy-and-hold core holding. Past performance in bull markets doesn't predict how either will perform during vol spikes or flat periods.

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