ProShares Launches First ETF Targeting 2x the Daily Returns of the Nasdaq-100 Equal Weighted Index

Jul 23, 2026

World's largest provider of leveraged and inverse ETFs expands Nasdaq-indexed lineup with a strategy designed to reduce mega-cap concentration

BETHESDA, Md. - ProShares, the world's leader in geared (leveraged and inverse) investing, today announced the launch of ProShares Ultra QQQ Equal Weight (NASDAQ: EQQQ), the first and only ETF targeting 2x the daily returns of the Nasdaq-100 Equal Weighted Index.

The Nasdaq-100 Equal Weighted Index consists of the same securities as the market-cap-weighted Nasdaq-100, but resets each company to an equal weight at each quarterly rebalance. By equal-weighting the Nasdaq-100, the index reduces mega-cap concentration and increases the relative weight of its smaller companies.

“The Nasdaq-100 has long represented many of the market’s most innovative and growth-oriented companies, but in recent years its performance has become increasingly concentrated in a limited number of mega-cap stocks,” said ProShares CEO Michael L. Sapir. “We are pleased to offer EQQQ, the only leveraged ETF benchmarked to the Nasdaq-100 Equal Weighted Index, for investors who desire magnified exposure to the growth potential of Nasdaq-100 companies with less influence from the index’s largest names.”

EQQQ is the latest addition to ProShares' $85 billion suite of leveraged and inverse ETFs and expands its Nasdaq-indexed lineup, which includes UltraPro QQQ (TQQQ), the world’s largest leveraged ETF1, Ultra QQQ (QLD), Short QQQ (PSQ), UltraShort QQQ (QID), and UltraPro Short QQQ (SQQQ).

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006, offering one of the industry’s largest ETF lineups. ProShares, together with its mutual fund affiliate, ProFunds, manages more than $112 billion in assets.2 The company is a leader in strategies such as dividend growth, high income, interest rate hedged bond, crypto and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

To learn more about the company and career opportunities, visit us on LinkedIn or at ProShares.com.

Sources:

1 Source: Morningstar, 6/30/26

2 As of 6/30/26

EQQQ Key Facts
    • Fund name: ProShares Ultra QQQ Equal Weight
    • Ticker: EQQQ
    • Category: Leveraged ETFs; Nasdaq-100 Equal Weight ETF
    • Investment objective: Targets 2x the daily returns of the Nasdaq-100 Equal Weighted Index
    • Investment theme: Nasdaq-100 exposure; equal-weight indexing; reduced mega-cap concentration; 2x daily returns; leveraged growth exposure
    • Visit the EQQQ Fund page

 

Contacts

Media

Steve Schaefer

(212) 207-9456

Steve@hewescomm.com

 

Investor

ProShares

(866) 776-5125

info@proshares.com
EQQQ Key Facts
    • Fund name: ProShares Ultra QQQ Equal Weight
    • Ticker: EQQQ
    • Category: Leveraged ETFs; Nasdaq-100 Equal Weight ETF
    • Investment objective: Targets 2x the daily returns of the Nasdaq-100 Equal Weighted Index
    • Investment theme: Nasdaq-100 exposure; equal-weight indexing; reduced mega-cap concentration; 2x daily returns; leveraged growth exposure
    • Visit the EQQQ Fund page

 

Contacts

Media

Steve Schaefer

(212) 207-9456

Steve@hewescomm.com

 

Investor

ProShares

(866) 776-5125

info@proshares.com

This ProShares ETF seeks daily investment results that correspond, before fees and expenses, to 2x the daily performance of its underlying benchmark (the “Daily Target”). While the Fund has a daily investment objective, you may hold Fund shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance. 

Investing involves risk, including the possible loss of principal. Leveraged ProShares ETFs are non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Because the weights of the index are only reviewed on a quarterly basis, the ETF should not be expected to have a truly equal weight composition at all times. The ETF’s underlying index is designed to be a size-neutral version of the cap-weighted Nasdaq-100 Index and therefore should be expected to produce significantly different returns. Please see the summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective. 

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns. 

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. 

“QQQ®,” “Nasdaq-100 Index®,” “Nasdaq-100®” and “Nasdaq-100 Equal Weight” are registered trademarks of The Nasdaq OMX Group Inc. and have been licensed for use by ProShares. This ETF is not sponsored, endorsed, sold or promoted by The Nasdaq OMX Group Inc. and The Nasdaq OMX Group Inc. makes no representation regarding the advisability of investing in this ETF. THIS ENTITY AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

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