(TQQQ) ProShares UltraPro QQQ - Ratings and Ratios

The ProShares UltraPro QQQ (NASDAQ: TQQT) is a leveraged-equity ETF that seeks daily returns equal to three times the performance of the Nasdaq-100 Index, which tracks the 100 largest non-financial Nasdaq-listed companies. The fund achieves this by holding a mix of futures, swaps, and other derivatives, targeting at least 80 % of assets in instruments that replicate the index’s economic exposure. Because it is designed for daily compounding, the ETF is classified as “non-diversified” and is intended for short-term trading rather than long-term buy-and-hold strategies.

Key quantitative metrics (as of the most recent filing) include an expense ratio of 0.95 % and an average daily trading volume exceeding 30 million shares, reflecting high liquidity. Over the past 12 months, TQQQ has delivered an annualized return of roughly +120 % (pre-fees), but its 30-day historical volatility sits near 80 %, far above that of the underlying Nasdaq-100 (≈ 30 %). The fund’s beta to the Nasdaq-100 is approximately 3.0, confirming its triple-levered exposure.

Performance drivers are heavily weighted toward the technology sector, which comprises about 55 % of the index’s market cap. Consequently, macro-level factors such as Federal Reserve policy on interest rates, corporate earnings cycles in semiconductors and cloud computing, and broader AI-related investment trends exert outsized influence on TQQQ’s daily returns. A rapid shift in monetary policy or a sector-wide earnings miss could amplify losses due to the fund’s leverage, so risk monitoring should focus on both volatility spikes and macro-policy signals.

For a deeper, data-driven assessment of how TQQQ’s leverage behaves across different market regimes, you might explore the analytics platform ValueRay for granular back-testing and scenario analysis.