ProShares Ultra QQQ Mega (QQUP)

ProShares Ultra QQQ Mega (ticker QQUP) is a leveraged exchange-traded fund from ProShares. It seeks daily investment results, before fees and expenses, of two times (200%) the daily performance of an index composed of the largest companies in the Nasdaq-100.

The fund obtains its leveraged exposure through swap agreements, the underlying stocks and other derivatives, and rebalances daily. It concentrates on the mega-cap technology and communication services companies that dominate the Nasdaq-100.

Because the 2x objective resets each day, returns over periods longer than one day can differ significantly from twice the index's return over that period.