ProShares - Ultra QQQ Mega

Frequently Asked Questions About QQUP

What does QQUP invest in?

The ProShares Ultra Top QQQ fund is designed to deliver daily investment outcomes that are double (2x) the single-day performance of the Nasdaq-100 Mega Index. This objective is pursued before accounting for any associated fees or expenses.

What is the expense ratio of QQUP?

ProShares - Ultra QQQ Mega (QQUP) charges an expense ratio of 1.22%. This is the annual fee deducted from fund assets to cover management and operations.

Is QQUP a good long-term hold?

QQUP is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple, typically with negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does QQUP's daily reset work?

QQUP rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level, so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is QQUP?

ProShares - Ultra QQQ Mega (QQUP) manages $21.9M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is QQUP actively managed or an index fund?

QQUP's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.