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 4, 2026

ProShares

ETFs165

Total AUM$123B

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.

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Side-by-side snapshot

	QLD	TQQQ
Full name	ProShares Ultra QQQ	ProShares UltraPro QQQ
Issuer	ProShares	ProShares
Last Close	$90.61 as of July 4, 2026	$73.35 as of July 4, 2026
Distribution yield	0.27%	0.93%
Distribution Safety Score	51	80
Expense ratio	0.95%	0.88%
AUM	$13.2B	$34.0B
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	2.53	3.91
Last dividend	$0.0610	$0.1712
Ex-dividend date	06/24/2026	06/24/2026

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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.

Total returns

QLD has lagged TQQQ over the trailing twelve months, posting a 56.81% total return against 82.11%. The lead holds up over 10 years too: TQQQ has compounded at 43.80% a year, against 35.24% for QLD. QLD has been the steadier holding, though — annualized volatility of 40.1% against 59.9% 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	29.28%	56.81%	41.41%	20.59%	35.24%	33.40%	40.1%	0.76	1.06	-42.3%
TQQQ	40.35%	82.11%	54.27%	20.16%	43.80%	43.12%	59.9%	0.65	0.90	-58.0%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 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 0.93% vs 0.27% 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 ($34.0B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, QLD would generate roughly $2.25/month, while TQQQ would produce $7.75/month, at current distribution rates. Both pay quarterly distributions.

QLD yield0.27%

TQQQ yield0.93%

Monthly diff on $10K$5.50

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 2.53 for QLD and 3.91 for TQQQ, indicating QLD is less volatile relative to the market.

QLD beta2.53

TQQQ beta3.91

Fund details

QLD is managed by ProShares (launched 06/19/2006) with $13.2B in assets. TQQQ is managed by ProShares (launched 02/09/2010) with $34.0B in assets.

QLD AUM$13.2B

TQQQ AUM$34.0B

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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 (0.27% vs 0.93%), 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 $2.25 per month ($27.00 annually). The same in TQQQ would produce about $7.75 per month ($93.00 annually).

Which has performed better historically, QLD or TQQQ?

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QLD vs TQQQ — at a glance

Generated June 2026 from current fund data.

Overview

QLD and TQQQ are both leveraged ETFs tracking the Nasdaq-100 Index, issued by ProShares. QLD targets 2x daily performance while TQQQ targets 3x daily performance. Both are designed for tactical positions and intraday trading rather than buy-and-hold portfolios, due to daily reset mechanics that compound volatility over longer periods.

How they differ

The foundational difference is leverage: TQQQ pursues three times daily Nasdaq-100 moves, versus QLD's two times. This makes TQQQ significantly more volatile—its beta of 3.91 is substantially higher than QLD's 2.53. TQQQ also commands a larger asset base at $34.0B compared to QLD's $13.2B, which generally supports tighter trading spreads. On yield, TQQQ distributes 0.91% annually versus QLD's 0.27%, reflecting TQQQ's higher notional exposure and cash drag from leverage financing. Expense ratios are nearly identical (0.88% for TQQQ, 0.95% for QLD), so fees are not a meaningful differentiator.

Who each is best for

QLD: Fits traders and tactical allocators seeking amplified Nasdaq-100 exposure without extreme leverage, particularly those holding positions for days to weeks and comfortable with 2x daily compounding effects.

TQQQ: Designed for short-term traders and volatility-opportunistic investors who want maximum leverage and accept steeper drawdown risk; the larger AUM supports active trading and frequent position rebalancing.

Key risks to know

Leverage decay over time. Both funds compound daily returns, meaning multi-day or multi-week holding periods will diverge from simple 2x or 3x buy-and-hold performance. TQQQ's 3x leverage amplifies this drift—holding through a sideways or volatile period can erode returns significantly relative to a static multiple of the underlying index.

Extreme drawdowns in downturns. With a beta of 3.91, TQQQ would fall roughly 39% in a 10% market decline, versus QLD's approximate 25% decline. Both funds' leverage means bear-market losses can be severe and harder to recover from.

Financing costs and fund expenses. Both funds pay interest to finance their leveraged positions. Combined with their expense ratios (0.88%–0.95%), annual drag is substantial—especially for TQQQ, which pays more in total basis points of cost relative to a standard Nasdaq-100 fund.

Liquidity concentration in QLD. Despite smaller AUM, QLD's earlier inception (2006 vs. 2010) and established user base give it a long history. TQQQ's $34.0B AUM is roughly 2.6x larger and likely offers tighter bid-ask spreads for typical retail order sizes.

Bottom line

If you're trading shorter time horizons and value accessibility, TQQQ's larger AUM and tighter spreads stand out. If you prefer a gentler leverage profile for tactical allocation, QLD offers 2x exposure with lower volatility drag. Both carry the same structural risk—daily reset decay accelerates with holding periods—so neither is a long-term buy-and-hold vehicle. Past performance doesn't predict future results, and leverage can amplify losses just as readily as gains.

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