ProShares Ultra QQQ Top 30 (QQXL)

ProShares Ultra QQQ Top 30 (ticker QQXL) 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 of the 30 largest companies in the Nasdaq-100.

The fund uses swap agreements and other derivatives, along with the stocks themselves, to obtain its leveraged exposure, rebalancing each day. Its holdings are concentrated in large technology, communication services and consumer companies.

Because the objective resets daily, compounding can cause longer-period returns to differ significantly from twice the index's return.