ProShares Launches First ETF to Target 2x Daily Returns of Nasdaq-100 Top 30 Index

Aug 15, 2025

World’s largest provider of leveraged and inverse ETFs expands $40 billion suite tied to the tech-heavy Nasdaq-100. 

BETHESDA, Md. – ProShares, the world’s leader in leveraged and inverse ETFs, today announced the launch of ProShares Ultra QQQ Top 30 (QQXL)—the first and only ETF designed to target 2x the daily returns of the Nasdaq-100 Top 30 Index. QQXL expands ProShares’ $40 billion suite of leveraged and inverse ETFs linked to the Nasdaq-100, which includes ProShares UltraPro QQQ (TQQQ), the world’s largest leveraged ETF.1 

The Nasdaq-100 Top 30 Index offers focused exposure to 30 of the largest and most influential companies in the tech-heavy Nasdaq-100. The index features leaders like Nvidia, Apple, Meta Platforms, and Palantir—firms driving innovation on a global scale.2 

“In recent years, market leadership has converged around a group of innovators—many in technology—who are redefining what’s possible, a trend that investors are eager to capture,” said ProShares CEO Michael L. Sapir. “With QQXL, investors can now target 2x the daily returns of these market leaders with the ease and convenience of a single ETF trade.” 

ProShares pioneered the leveraged and inverse ETF category nearly two decades ago and remains the largest provider in the world,3 offering funds linked to major stock indexes, single stocks, fixed income, commodities, currencies, cryptocurrencies, and volatility. 

About ProShares 

ProShares has been at the forefront of the ETF revolution since 2006. ProShares manages over $90 billion in assets and offers one of the largest lineups of ETFs.4 The company is a leader in strategies such as dividend growth, high income, interest rate hedged bond, crypto-linked 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. 

Sources:
1 Bloomberg, as of 7/31/25.
2 Bloomberg, as of 7/31/25, Nasdaq-100 Top 30 Index weights are Nvidia (13.40%), Apple (9.57%), Meta Platforms (4.91%), and Palantir (2.86%). Current holdings for QQXL may be found here.
3 Morningstar, as of 7/31/25.
4 Includes assets of both ProShares ETFs and its mutual fund affiliate, ProFunds, as of 8/12/25.
Media Contact
Steve Schaefer

(202) 207-9456

Steve@hewescomm.com

Investor Contact
ProShares

(866) 776-5125

info@proshares.com
Media Contact
Steve Schaefer

(202) 207-9456

Steve@hewescomm.com

Investor Contact
ProShares

(866) 776-5125

info@proshares.com

Geared ProShares ETFs seek daily investment results that correspond, before fees and expenses, to a multiple of (e.g., 2x or -2x) the daily performance of its underlying benchmark (the “Daily Target”). While the Funds have 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. The ETF may concentrate its investments in certain sectors. Narrowly focused investments typically exhibit higher volatility. Technology companies may experience intense competition, obsolescence of existing technology, changing economic conditions, and government regulation. Investors could potentially lose the full value of their investment within a single day. Please see the summary and full prospectuses at ProShares.com 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 at ProShares.com. Read them carefully before investing. 

“QQQ®,” “Nasdaq-100 Index®,” “Nasdaq-100®” and “Nasdaq-100 Top 30 Index” 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. THE Nasdaq OMX GROUP INC. MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE ETFs. 

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

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