TQQQ and QLD Are Not Your Typical ETFs. Read This Before You Touch Either One.

Core Insights - The ProShares - UltraPro QQQ (TQQQ) offers 3x daily leverage and higher volatility compared to ProShares - Ultra QQQ (QLD), which provides 2x leverage with a gentler drawdown and smaller asset base [1][2] Cost & Size - TQQQ has an expense ratio of 0.82% and assets under management (AUM) of $27.3 billion, while QLD has an expense ratio of 0.95% and AUM of $9.9 billion [3][4] - The 1-year return for TQQQ is 68.4%, compared to 50.8% for QLD, and TQQQ has a higher dividend yield of 0.69% versus QLD's 0.2% [3][4] Performance & Risk Comparison - TQQQ has a maximum drawdown of -81.76% over five years, while QLD has a maximum drawdown of -63.78% [5] - The growth of $1,000 over five years is $2,230 for TQQQ and $2,368 for QLD [5] Portfolio Composition - QLD aims to deliver twice the daily performance of the Nasdaq-100, holding 121 positions with half of its assets in technology [6] - TQQQ follows similar sector allocations but with 3x leverage and has over $27 billion in assets under management [7] Investment Implications - Both TQQQ and QLD are designed for sophisticated traders rather than long-term investors, as they utilize financial derivatives to deliver multiplied versions of the Nasdaq-100's daily returns [8]