# TQQQ ETF: fees, returns, drawdowns and holdings

> What TQQQ holds, its 0.78% yearly fee, returns by year, its worst drop, and which Tactfolio strategies hold it. Updated daily.

ProShares UltraPro QQQ (TQQQ) is an exchange-traded fund (ETF) run by ProShares. This fund tries to give you 3 times the daily return of the Nasdaq-100, a group of about 100 large companies listed on the Nasdaq market. It charges 0.78% a year. From February 2010 to October 2026 it returned about 41.6% a year, and its worst drop was −81.7%.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 16, 2026. Prices through October 16, 2026.

## Key points

- Expense ratio: 0.78% a year (about $78 on $10,000).
- Started trading on February 9, 2010.
- Last close: $68.21 on October 16, 2026.
- Return over the last year: 34.7%.
- Worst drop since 2010: −81.7%.
- No Tactfolio classic strategies hold it.

## How has TQQQ done since 2010?

From February 2010 to October 2026, TQQQ returned about 41.6% a year. The S&P 500 returned about 14.4% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $3,324,315 at the end, with every dividend reinvested.

| Period | TQQQ | S&P 500 (SPY) |
| --- | --- | --- |
| 1 month | 0.6% | 1.5% |
| 3 months | −3.4% | 1.9% |
| 6 months | 21.4% | 9.3% |
| Year to date | 30.1% | 12.8% |
| 1 year | 34.7% | 16.8% |
| 3 years, per year | 53.9% | 22.0% |
| 5 years, per year | 16.2% | 12.8% |
| 10 years, per year | 39.5% | 15.4% |
| Since 2010, per year | 41.6% | 14.4% |

Periods longer than a year show the return per year (CAGR). Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## TQQQ returns by month and year

TQQQ rose in 122 of its 201 months (61%). Its best month was April 2026, at 52.4%. Its worst was March 2020, at −38.1%.

| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Full year |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2026 (part) | 2.4% | −8.3% | −15.7% | 52.4% | 33.1% | −4.0% | −20.2% | 11.3% | 8.7% | −12.6% |  |  | 30.1% |
| 2025 | 4.5% | −9.4% | −23.3% | −4.2% | 27.6% | 18.9% | 6.3% | 1.3% | 15.8% | 12.9% | −6.6% | −3.2% | 34.4% |
| 2024 | 3.8% | 14.7% | 2.4% | −14.3% | 18.6% | 18.5% | −7.5% | 0.5% | 6.0% | −4.2% | 15.0% | −0.6% | 58.3% |
| 2023 | 32.4% | −3.4% | 28.4% | 0.0% | 23.0% | 18.4% | 10.5% | −6.3% | −15.8% | −8.0% | 33.8% | 16.1% | 198.0% |
| 2022 | −25.7% | −15.2% | 10.9% | −37.2% | −9.5% | −27.4% | 39.0% | −16.6% | −30.5% | 8.4% | 12.5% | −26.2% | −79.1% |
| 2021 | −0.5% | −1.4% | 2.3% | 18.0% | −4.7% | 19.4% | 8.4% | 12.6% | −16.7% | 24.6% | 5.4% | 1.7% | 83.0% |
| 2020 | 8.2% | −17.8% | −38.1% | 46.5% | 18.6% | 18.0% | 22.3% | 35.2% | −18.9% | −10.3% | 34.5% | 15.0% | 110.0% |
| 2019 | 26.9% | 8.6% | 11.1% | 16.6% | −24.0% | 23.0% | 6.2% | −7.8% | 1.9% | 12.4% | 12.2% | 11.4% | 133.8% |
| 2018 | 27.7% | −6.2% | −13.4% | −0.4% | 17.0% | 2.2% | 7.6% | 17.7% | −1.6% | −26.6% | −2.9% | −26.8% | −19.8% |
| 2017 | 15.8% | 13.4% | 5.6% | 8.1% | 11.4% | −8.1% | 12.6% | 5.0% | −1.1% | 13.7% | 5.5% | 1.2% | 118.1% |
| 2016 | −21.1% | −6.0% | 21.0% | −9.6% | 12.8% | −7.8% | 22.5% | 3.0% | 5.8% | −4.6% | 1.1% | 2.6% | 11.4% |
| 2015 | −7.0% | 22.7% | −7.5% | 5.2% | 6.3% | −7.6% | 13.4% | −21.3% | −8.1% | 37.2% | 1.3% | −5.8% | 17.2% |
| 2014 | −6.4% | 15.4% | −8.4% | −2.0% | 13.5% | 9.5% | 3.0% | 15.5% | −2.8% | 6.6% | 14.3% | −7.5% | 57.1% |
| 2013 | 7.6% | 0.6% | 8.7% | 6.9% | 10.7% | −8.0% | 20.1% | −1.7% | 14.9% | 14.7% | 10.3% | 8.9% | 139.7% |
| 2012 | 26.9% | 20.1% | 15.5% | −4.3% | −20.4% | 9.8% | 2.3% | 16.1% | 2.1% | −15.6% | 3.2% | −1.9% | 52.3% |
| 2011 | 8.0% | 9.1% | −2.4% | 8.6% | −4.3% | −7.0% | 4.4% | −19.5% | −14.3% | 31.5% | −10.2% | −2.8% | −8.1% |
| 2010 (part) |  | 7.5% | 24.6% | 6.1% | −22.9% | −18.9% | 21.8% | −15.1% | 43.1% | 19.6% | −1.4% | 14.8% | 78.1% |

Each month runs from the last close of the month before. The first month counts from the first close.

## How risky is TQQQ compared with the S&P 500?

Measured from October 2021 to October 2026, on the days both traded.

- **Beta 3.79.** When the S&P 500 moved 1% in a day, TQQQ tended to move about 3.79%.
- **Correlation 0.95.** TQQQ mostly moved with the S&P 500.
- **Up and down months.** In months the S&P 500 rose, TQQQ rose 313% as much on average. In months it fell, TQQQ fell 360% as much.

| Measure | TQQQ | S&P 500 (SPY) |
| --- | --- | --- |
| Return per year | 15.5% | 12.8% |
| Volatility | 68.3% | 17.1% |
| Worst drop | −81.7% | −24.5% |
| Sharpe ratio | 0.55 | 0.79 |
| Sortino ratio | 0.79 | 1.15 |
| Calmar ratio | 0.19 | 0.52 |

Volatility is how much the price swings in a year. The Sharpe ratio is return per unit of volatility, the Sortino ratio counts only the falls, and the Calmar ratio is the return per year over the worst drop. Higher ratios mean more return for the risk taken.

## Is TQQQ above its 200-day average?

TQQQ closed 5.6% above its 200-day average on October 16, 2026. A rule that holds TQQQ only above that average would hold it today.

- Its 50-day average is 15.4% above its 200-day average.
- It closed 21.5% below its highest close of the last 52 weeks.

A moving average is the average close over the last so many days. Trend rules such as [the 10-month moving average strategy](https://tactfolio.com/strategies/faber-10-month-moving-average.md) hold a fund only while it is above one. You can [build that rule for TQQQ](https://tactfolio.com/builder) and backtest it in a minute.

## What was TQQQ's worst drop?

A drawdown is how far a fund falls from its last high point. TQQQ's worst fall was −81.7%, from November 19, 2021 to December 28, 2022. It got back to that high on December 4, 2024. On October 16, 2026 it was 21.5% below its highest close.

| Drop | Started | Bottom | Back to the high | Fall took | Recovery took |
| --- | --- | --- | --- | --- | --- |
| −81.7% | Nov 19, 2021 | Dec 28, 2022 | Dec 4, 2024 | 13 months | 23 months |
| −69.9% | Feb 19, 2020 | Mar 20, 2020 | Jul 10, 2020 | 30 days | 4 months |
| −58.1% | Aug 29, 2018 | Dec 24, 2018 | Nov 4, 2019 | 4 months | 10 months |
| −58.0% | Dec 16, 2024 | Apr 8, 2025 | Aug 12, 2025 | 4 months | 4 months |
| −44.5% | Jul 20, 2015 | Feb 9, 2016 | Sep 22, 2016 | 7 months | 7 months |

Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## What does TQQQ hold?

This fund tries to give you 3 times the daily return of the Nasdaq-100, a group of about 100 large companies listed on the Nasdaq market. It uses borrowed money and contracts called swaps and futures, and it resets every day, so over weeks or months your result can be very different from 3 times what the index did. Losses grow 3 times as fast as gains on a bad day.

It tracks the Nasdaq-100 Index.

| Fact | TQQQ |
| --- | --- |
| Full name | ProShares UltraPro QQQ |
| Issuer | ProShares |
| Expense ratio | 0.78% a year |
| Started trading | February 9, 2010 |
| Tracks | Nasdaq-100 Index |
| Type | Leveraged, ETF |
| Facts checked | October 16, 2026 on the [ProShares fund page](https://www.proshares.com/our-etfs/leveraged-and-inverse/tqqq) |

## What is the TQQQ expense ratio?

TQQQ charges 0.78% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.78% fee comes to about $78 a year. Of the 162 ETFs on Tactfolio, 2% charge more.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

## Which Tactfolio strategies hold TQQQ?

No classic strategy holds TQQQ yet. You can add it to your own rules in the [builder](https://tactfolio.com/builder) and see how they would have done.

## How does TQQQ compare with similar ETFs?

Side-by-side pages measure both funds over the same dates:

- [QQQ vs TQQQ](https://tactfolio.com/etf-comparisons/QQQ-vs-TQQQ.md): the Nasdaq-100 against a fund that aims for 3 times its daily move.

## Test TQQQ in your own rules

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the [builder](https://tactfolio.com/builder), add TQQQ, and see how a rule such as "hold it only above its 200-day average" would have done. Strategies run on daily prices and hold US stocks and ETFs only.

## The details

Prices come from Tactfolio's stored daily prices for TQQQ and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.

Fund facts come from ProShares. We checked them on October 16, 2026. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) and [how to read drawdown and CAGR](https://tactfolio.com/docs/concepts/reading-a-backtest.md) for more on these measures.

## Research and test it

- [Leveraged ETFs](https://tactfolio.com/learn/leveraged-etfs): How a leveraged ETF works, why the daily reset makes long-term returns drift, a two-day 2x and 3x example, and what regulators warn.
- [Leverage](https://tactfolio.com/learn/leverage-explained): What leverage is, how to work out a leverage ratio, and how 2:1 and 10:1 change gains and losses.
- [Leverage calculator](https://tactfolio.com/trading-tools/leverage-calculator): See your effective leverage, what a 1% price move does to your account, and the move that would wipe it out.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.

## Common questions

### What is the expense ratio of TQQQ?

TQQQ charges 0.78% a year, according to ProShares as of October 16, 2026. That is about $78 a year for every $10,000 you hold.

### When did TQQQ start trading?

TQQQ started trading on February 9, 2010. It is run by ProShares.

### What does TQQQ track?

TQQQ tracks the Nasdaq-100 Index. This fund tries to give you 3 times the daily return of the Nasdaq-100, a group of about 100 large companies listed on the Nasdaq market.

### How much has TQQQ returned per year?

From February 2010 to October 2026, TQQQ returned about 41.6% a year with dividends reinvested. Its worst drop was −81.7%. Past returns do not tell you what it will do next.

### Is TQQQ above its 200-day moving average?

On October 16, 2026, TQQQ closed 5.6% above its 200-day moving average. This page updates after each US market close.

### Which strategies use TQQQ?

None of Tactfolio's classic strategies hold TQQQ yet. You can test it in your own rules in the builder.

## Sources

- [ProShares: ProShares UltraPro QQQ fund page](https://www.proshares.com/our-etfs/leveraged-and-inverse/tqqq)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in. These funds reset daily. Held for longer, their returns can differ a lot from the multiple in their name.