QQQ vs QQXL
Invesco QQQ Trust, Series 1 vs ProShares Ultra QQQ Top 30
Which is better, QQQ or QQXL?
Large Cap Growth against Multi Alternative.
QQQ has a lower expense ratio. QQXL led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | QQQ | QQXL |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.95% |
| AUM | $498.6B | $6M |
| Dividend Yield | 0.42% | 0.80% |
| Holdings | 321 | 35 |
| YTD Return | +22.95% | +43.24%Best |
| 1Y Return | +23.60% | +41.07%Best |
| 3Y Return (annualized) | +27.53% | - |
| 5Y Return (annualized) | +16.67% | - |
| Volatility (annualized) | 20.4%Best | 46.9% |
| Max Drawdown | -12.0%Best | -27.3% |
| $10,000 over 1.1 years | $12,937 | $15,185Best |
| Fund Family | Invesco (US) | ProShares |
| Category | Equity | Alternative |
| Style | Large Cap Growth | Multi Alternative |
| Inception | Mar 10, 1999 | Aug 13, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 15, 2025 to Oct 9, 2026 (1.1 years).
QQQ vs QQXL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.1 years both funds cover.
QQQ vs QQXL Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and ProShares Ultra QQQ Top 30 (QQXL) is an ETF from ProShares. Over the past year QQQ returned +23.60% while QQXL returned +41.07%. Year to date, QQQ is up 22.95% versus a gain of 43.24% for QQXL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQXL has been the more volatile fund, with annualized monthly volatility of 46.9% compared with 20.4% for QQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -12.0% for QQQ and -27.3% for QQXL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QQQ charges 0.18% per year while QQXL charges 0.95%. On a $10,000 position that is $18 vs $95 annually, a gap of $77 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 0.80% for QQXL.
Holdings Overlap
At least 75.5% of QQQ's money is in holdings QQXL also owns.
Stated as a floor: for QQXL, our book for it covers 11.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of QQQ is already inside QQXL. Owning both mostly buys the same companies twice.
31 positions in common, counted across the 102 positions we hold weights for in QQQ and 31 in QQXL, against full books of 321 and 35.
Top Shared Holdings
| Stock | Weight in QQQ | Weight in QQXL | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.45% | 1.22% | 7.23% |
| AAPLApple, Inc | 7.80% | 1.17% | 6.63% |
| MSFTMicrosoft Corp | 5.88% | 0.90% | 4.98% |
| MUMicron Technology, Inc. | 4.85% | 0.69% | 4.16% |
| AMZNAmazon.Com Inc | 4.41% | 0.65% | 3.76% |
| AMDAdvanced Micro Devices Inc | 3.71% | 0.50% | 3.21% |
| GOOGLAlphabet Inc,class A | 3.15% | 0.49% | 2.66% |
| METAMeta Platforms Inc | 3.07% | 0.47% | 2.60% |
| GOOGAlphabet Inc. C | 2.93% | 0.45% | 2.48% |
| TSLATesla Inc | 2.92% | 0.43% | 2.49% |
75.5% of QQQ is already inside QQXL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QQQ or QQXL?
QQQ has an expense ratio of 0.18% while QQXL charges 0.95%. QQQ is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, QQQ or QQXL?
Over the past year QQQ returned +23.60% vs +41.07% for QQXL, so QQXL leads on 1-year performance. Over the longest common window we track (1 years), QQQ annualized +26.38% vs +46.19% for QQXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or QQXL?
QQXL has been the more volatile fund at 46.9% annualized versus 20.4% for QQQ. Worst drawdown: QQQ -12.0% vs QQXL -27.3%.
Should I hold both QQQ and QQXL?
QQQ and QQXL have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between QQQ and QQXL?
At least 75.5% of QQQ's money is in holdings QQXL also owns. Our book for QQXL is partial, so the real figure is this or higher. They hold 31 positions in common, counted across the 102 positions we hold weights for in QQQ and 31 in QQXL.
Which pays a higher dividend, QQQ or QQXL?
QQQ yields 0.42% while QQXL yields 0.80%, so QQXL currently pays the higher dividend yield.
Is QQXL better than QQQ?
QQQ has a lower expense ratio. QQXL led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.