ETF Comparison
TQQQ vs UPRO: Which Is the Better Pick in 2026?
A head-to-head comparison of ProShares UltraPro QQQ and ProShares UltraPro S&P500 covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| TQQQ | UPRO | |
|---|---|---|
| Full name | ProShares UltraPro QQQ | ProShares UltraPro S&P500 |
| Issuer | ProShares | ProShares |
| Price | $43.23 | $99.17 |
| Distribution yield | 0.69% | 0.84% |
| Expense ratio | 0.82% | 0.89% |
| AUM | $27.3B | $4.5B |
| Distribution frequency | Quarterly | Quarterly |
| Underlying index | Nasdaq-100 Index | S&P 500 |
| Objective | Seek daily investment results, before fees, that correspond to three times the daily performance of the Nasdaq-100 Index. | Seeks daily investment results that correspond to three times (3x) the daily performance of the S&P 500 Index. |
| Asset class | Equity | Equity |
| Inception date | 02/09/2010 | — |
| Beta | 3.59 | 3.09 |
| Last dividend | $0.07 | $0.22 |
| Ex-dividend date | 03/25/2026 | 03/25/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
TQQQ (ProShares UltraPro QQQ) and UPRO (ProShares UltraPro S&P500) are both popular quarterly-pay seek daily investment results, before fees, that correspond to three times the daily performance of the nasdaq-100 index. ETFs, but they take different approaches.
UPRO offers the higher yield at 0.84% vs 0.69% for TQQQ. 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 0.89%.
They track different benchmarks: TQQQ is linked to Nasdaq-100 Index while UPRO tracks S&P 500, which means their performance drivers differ.
TQQQ is the larger fund by assets ($27.3B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, TQQQ would generate roughly $5.75/month while UPRO would produce $7.00/month at current distribution rates. Both pay quarterly distributions.
Cost & efficiency
Over 10 years on $10,000, TQQQ would cost approximately $820 in fees vs $890 for UPRO (simplified, not compounded). The $70.00 difference may be offset by yield or performance.
Strategy & risk
TQQQ tracks Nasdaq-100 Index with a seek daily investment results, before fees, that correspond to three times the daily performance of the nasdaq-100 index. approach, while UPRO tracks S&P 500 using a seeks daily investment results that correspond to three times (3x) the daily performance of the s&p 500 index. strategy. Beta is 3.59 for TQQQ and 3.09 for UPRO, indicating UPRO is less volatile relative to the market.
Fund details
TQQQ is managed by ProShares (launched 02/09/2010) with $27.3B in assets. UPRO is managed by ProShares (launched —) with $4.5B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is TQQQ or UPRO better for dividend income?
It depends on your goals. UPRO 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 TQQQ and UPRO?
TQQQ (ProShares UltraPro QQQ) tracks Nasdaq-100 Index with a seek daily investment results, before fees, that correspond to three times the daily performance of the nasdaq-100 index. strategy, while UPRO (ProShares UltraPro S&P500) tracks S&P 500 with a seeks daily investment results that correspond to three times (3x) the daily performance of the s&p 500 index. approach. They are issued by ProShares and ProShares respectively.
Can I hold both TQQQ and UPRO?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, TQQQ or UPRO?
TQQQ has an expense ratio of 0.82% while UPRO charges 0.89%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in TQQQ vs UPRO generate?
At current yields, $10,000 in TQQQ would generate roughly $5.75 per month ($69.00 annually). The same in UPRO would produce about $7.00 per month ($84.00 annually).
More comparisons to explore
Popular comparisons
Go deeper
Use the full ETF Comparator to add more funds, view radar charts, and generate AI reports.