QQQ vs ULE
Invesco QQQ Trust, Series 1 vs ProShares Ultra Euro
Which is better, QQQ or ULE?
QQQ has been ahead.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window.
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 | ULE |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.95% |
| AUM | $483.5B | $4M |
| Dividend Yield | 0.44% | 0.00% |
| Holdings | 107 | 2 |
| YTD Return | +17.95%Best | -4.60% |
| 1Y Return | +21.77%Best | -6.18% |
| 3Y Return (annualized) | +25.63%Best | +4.08% |
| 5Y Return (annualized) | +15.24%Best | -2.66% |
| Volatility (annualized) | 17.7%Best | 18.0% |
| Max Drawdown | -35.1%Best | -72.7% |
| $10,000 over 5 years | $20,324Best | $8,739 |
| Fund Family | Invesco (US) | ProShares |
| Category | Equity | Alternative |
| Style | Large Cap Growth | - |
| Inception | Mar 10, 1999 | Nov 24, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 25, 2008 to Sep 18, 2026 (17.8 years).
QQQ vs ULE 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
QQQ vs ULE Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and ProShares Ultra Euro (ULE) is an ETF from ProShares. Over the past year QQQ returned +21.77% while ULE returned -6.18%. Year to date, QQQ is up 17.95% versus a loss of 4.60% for ULE.
Over three years, QQQ compounded at +25.63% per year against +4.08% for ULE; over five years the annualized figures are +15.24% and -2.66% respectively. Across the full 18-year window we track, QQQ has the edge at +20.19% annualized vs -3.90%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ULE has been the more volatile fund, with annualized monthly volatility of 18.0% compared with 17.7% 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 -35.1% for QQQ and -72.7% for ULE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.33. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while ULE 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 0.44% against 0.00% for ULE.
You are not choosing between two funds in isolation.
Whichever of QQQ and ULE you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QQQ or ULE?
QQQ has an expense ratio of 0.18% while ULE charges 0.95%. QQQ is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, QQQ or ULE?
Over the past year QQQ returned +21.77% vs -6.18% for ULE, so QQQ leads on 1-year performance. Over the longest common window we track (18 years), QQQ annualized +20.19% vs -3.90% for ULE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or ULE?
ULE has been the more volatile fund at 18.0% annualized versus 17.7% for QQQ. Worst drawdown: QQQ -35.1% vs ULE -72.7%.
Should I hold both QQQ and ULE?
QQQ and ULE have a monthly-return correlation of 0.33, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, QQQ or ULE?
QQQ yields 0.44% while ULE yields 0.00%, so QQQ currently pays the higher dividend yield.
Is ULE better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.