ProShares Ultra Top QQQ (QQUP) Performance
QQUP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.4% since Dec 31, 2025
- 1 year
- +8.4% total return
- Since first price
- +55.2% since 2025
QQUP trailing returns vs SPY, QQQ, AGG
| Period | QQUP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.2% | −4.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +12.2% | +12.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.5% | +7.1% | +7.8% | +8.4% | −1.5% |
| YTD | +7.4% | +6.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.4% | +7.7% | +14.4% | +15.9% | −1.1% |
| Since inceptionJun 12, 2025 | +55.2% | +53.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: QQUP vs SPY
From Jun 12, 2025: QQUP grew to $15,519, SPY to $12,796.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QQUP returns by calendar year
2026 is year to date.
QQUP annual returns table
| Year | QQUP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.4% | −30.3% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
QQUP largest drawdowns
Now 12.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 29, 2025 | −37.7% | Mar 30, 2026 | May 7, 2026 | 5 months | 6 months |
| May 14, 2026 | −26.8% | Jun 25, 2026 | not yet | 42 days | 5 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
QQUP risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | +36.8% |
| Volatility (annualized) | 46.9% |
| Sharpe ratio | 0.80 |
| Sortino ratio | 1.63 |
| Best month | +36.9% |
| Worst month | −17.9% |
| Best 12 months | +28.7% |
| Worst 12 months | +14.2% |
| Positive months | 60% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
QQUP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 5 | −2.1% | +22.9% | +28.7% | 80% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
QQUP performance overview
ProShares Ultra Top QQQ (QQUP) returned +8.4% over the past year, with distributions reinvested. Since its first recorded price on Jun 12, 2025 it has returned +55.2%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −37.7%, from Oct 29, 2025 to Mar 30, 2026, and it took 38 days to get back to the old high. Volatility has been 46.9% a year.
Related: QQUP chart, QQUP dividends. See the QQUP overview for the latest quote and fund facts.
QQUP performance FAQ
What is the QQUP return over the past year?
QQUP returned +8.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 7.7%.
How much would $10,000 invested in QQUP be worth?
$10,000 invested in QQUP at its first recorded close on June 12, 2025 would be worth about $15,519 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of QQUP?
The largest peak-to-trough decline was −37.7% between October 29, 2025 and March 30, 2026. It recovered to the old high on May 7, 2026, 38 days after the bottom.
How volatile is QQUP?
Over the past history QQUP had an annualized volatility of 46.9% and a Sharpe ratio of 0.80 (excess return over 1–3 month T-bills per unit of risk).