ProShares - Ultra QQQ Top 30

Frequently Asked Questions About QQXL

What does QQXL invest in?

The ProShares Ultra QQQ Top 30 fund aims to generate daily investment returns that, prior to deducting fees and expenses, replicate twice (2x) the daily movements of the Nasdaq-100 Top 30 Index.

What is the expense ratio of QQXL?

ProShares - Ultra QQQ Top 30 (QQXL) charges an expense ratio of 1.84%. This is the annual fee deducted from fund assets to cover management and operations.

Is QQXL a good long-term hold?

QQXL 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 QQXL's daily reset work?

QQXL 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 QQXL?

ProShares - Ultra QQQ Top 30 (QQXL) manages $5.5M 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 QQXL actively managed or an index fund?

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