Compare/Updated Oct 26, 2026, refreshed every trading day
QLD vs QQQ
ProShares - Ultra QQQ against Invesco QQQ Trust, Series 1: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
QLD did better over the period: $1,000 invested on October 28, 2022 grew to $4,355, versus $2,565 in QQQ. QLD’s total return was +335.5%, compared with +156.5% for QQQ, reflecting its approximately 2x daily exposure to the same Nasdaq-100-focused strategy. That leverage also made QLD substantially riskier: its 12-month volatility was 39.8% versus 20.0% for QQQ, and its worst drawdown was -42.3% versus -22.8%. QLD’s 0.98% expense ratio was also much higher than QQQ’s 0.20%. The funds had a 1.000 daily-move correlation over the last 12 months, but QLD beat QQQ in 27 of the last 48 months while QQQ won 21. QLD delivered the stronger return, but QQQ offered materially lower volatility, drawdown risk, and cost.
- Price is above its 200-day average ($83); 50-day at $92.
- RSI 36, neutral. Supertrend says sell. ADX 25, so the trend is developing.
- Price is above its 200-day average ($676); 50-day at $725.
- RSI 37, neutral. Supertrend says sell. ADX 25, so the trend is developing.
Head to head
Which has returned more, QLD or QQQ?
QLD beat QQQ in 27 of the last 48 months; QQQ won the other 21. The typical monthly gap was 3.93 points.
Total return by period
Which is riskier?
QLD: Dec 16, 2024 to Apr 8, 2025; QQQ: Feb 19, 2025 to Apr 8, 2025
- 1.000
- correlation of daily moves, 4 years
- 1.99
- QLD move per 1% in QQQ
- 1.000
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 3.93 points.
When did they diverge?
| Month | QLD | QQQ | Gap |
|---|---|---|---|
| April 2026 | +32.9% | +15.7% | +17.18 pts |
| November 2023 | +21.8% | +10.8% | +10.95 pts |
| May 2026 | +21.5% | +10.6% | +10.91 pts |
| January 2023 | +21.3% | +10.7% | +10.62 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
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