ETF Evaluator:
ProShares Ultra QQQ Equal Weight (EQQQ)
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(as of )
Best Performing in Trading--Leveraged Equity Over the Last Year
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ETF Details
ProShares Ultra QQQ Equal Weight Overview
ProShares Ultra QQQ Equal Weight (EQQQ) is a passively managed Miscellaneous Trading--Leveraged Equity exchange-traded fund (ETF). ProShares launched the ETF in 2026.
The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) of the daily performance of the Nasdaq-100 Equal Weighted Index (the “Index”).
The Nasdaq-100 index is designed to measure the performance of 100 of the largest non-financial companies listed on the Nasdaq Global Select Market or the Nasdaq Global Market (which include both U.S. and non-U.S. companies). Under normal circumstances, the fund will obtain leveraged exposure to at least 80% of its total assets in components of the index. It is non-diversified.
About ProShares Ultra QQQ Equal Weight (EQQQ)
There are 2 members of the management team with an average tenure of 0.03 years: Michael Neches (2026) and Devin Sullivan (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: NASDAQ-100 Equal Weighted TR USD index with a weighting of 100%. ProShares Ultra QQQ Equal Weight has securities in its portfolio. The top 10 holdings constitute 0.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares Ultra QQQ Equal Weight is part of the Other global asset class and is within the Miscellaneous ETF group. ProShares Ultra QQQ Equal Weight has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares Ultra QQQ Equal Weight has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $251 million average for the Trading--Leveraged Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EQQQ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares Ultra QQQ Equal Weight expense ratio is high compared to funds in the Trading--Leveraged Equity category. ProShares Ultra QQQ Equal Weight has an expense ratio of 0.95%, which is the same as its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares Ultra QQQ Equal Weight has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 396% for the Trading--Leveraged Equity category.
Recently, in the month of July 2026, ProShares Ultra QQQ Equal Weight returned 0.0%, which earned it a grade of NA, as the Trading--Leveraged Equity category had an average return of -18.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares Ultra QQQ Equal Weight has a trailing yield of 0.00%, which is below the 5.84% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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EQQQ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EQQQ Return (NAV) | na | na | na | na | na | na |
| EQQQ Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Trading--Leveraged Equity Avg | -18.2% | -10.8% | 47.2% | 18.3% | 6.2% | 9.2% |
| EQQQ Grade (NAV) | na | na | na | na | na | na |
| +/- Category (NAV) | na | na | na | na | na | na |
| EQQQ Tax-Cost Ratio | na | na | na | na | na | na |
EQQQ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EQQQ Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| EQQQ Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Trading--Leveraged Equity Avg | 3.8% | 41.3% | 29.5% | 62.2% | -36.7% | 45.0% | 6.2% | 64.1% | -31.9% | 61.0% | 29.3% |
| EQQQ Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 4 Mil |
| Share Class Assets: | $ 4 Mil |
| Turnover: | na |
| Expense Ratio: | 0.95% |
| Index Fund: | Yes |
| Index Tracked: | NASDAQ-100 Equal Weighted TR USD |
| Index Weighting: | 100% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.0 years | |||
| Average Tenure: 0.0 years | |||
| Managers (Year): Neches Michael (2026), Sullivan Devin (2026) | |||
Portfolio Composition (as of )
| # of Holdings: | |
| % in Top 10 Holdings: | 0.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | July 21, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.95% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
