Indexes

Leveraged & Inverse Nasdaq-100 ETFs

Bullish or Bearish on the Nasdaq-100? Here's How to Invest

Looking for a Nasdaq-100 ETF? Only ProShares offers a range of leveraged and inverse ETFs exclusively indexed to the Nasdaq-100 and related indexes, enabling investors to express bullish or bearish views with a single ETF trade. Explore ETFs tied to the daily performance of Nasdaq-100 Index, Nasdaq-100 Mega Index, Nasdaq-100 Top 30 Index, and Nasdaq-100 Equal Weighted Index, including ProShares UltraPro QQQ (TQQQ), the world's largest leveraged ETF. 

What are the different ways to invest in the Nasdaq-100?

The Nasdaq-100 index family includes several indexes, each designed to provide a distinct way to access the companies driving innovation. Whether you're looking for broad Nasdaq-100 exposure, a more concentrated portfolio of the largest companies, or a more balanced equal-weight approach, ProShares offers ETFs tied to each index. 

Nasdaq-100 Index
The Nasdaq-100 is Nasdaq’s flagship index comprising 100 of the largest non-financial companies listed on the Nasdaq exchange.
Companies 100
Avg. Market Cap $379.37 Billion
% of Nasdaq-100 Market Cap 100%
YTD Return 20.30%
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Nasdaq-100 Top 30 Index
The Nasdaq-100 Top 30 Index includes 30 of the largest companies in the Nasdaq-100.
Companies 30
Avg. Market Cap $1.04 Trillion
% of Nasdaq-100 Market Cap 76%
YTD Return 21.32%
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Nasdaq-100 Mega Index
The Nasdaq-100 Mega Index provides concentrated exposure to approximately the top 45% cumulative weight of the Nasdaq-100.
Companies 7
Avg. Market Cap $2.73 Trillion
% of Nasdaq-100 Market Cap 35%
YTD Return 1.75%
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Nasdaq-100 Equal Weighted Index
The Nasdaq-100 Equal Weighted Index includes the same companies as the Nasdaq-100, but weights each company equally.
Companies 100
Avg. Market Cap $379.37 Billion
% of Nasdaq-100 Market Cap 100%
YTD Return 20.30%
Explore Related ETFs
As of 06/30/2026

Frequently Asked Questions

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Each index provides a different way to gain exposure to the world’s leading technology and growth companies listed on Nasdaq. The Nasdaq-100 Index includes 100 of the largest non-financial Nasdaq-listed companies, while the Nasdaq-100 Mega Index focuses on the largest companies representing approximately the top 45% cumulative weight of the Nasdaq-100. The Nasdaq-100 Top 30 Index includes the 30 largest companies in the Nasdaq-100, and the Nasdaq-100 Equal Weighted Index gives each company the same weight at each quarterly rebalance, reducing concentration in the largest stocks.

The right Nasdaq index depends on your investment objectives. Investors seeking broader exposure may prefer the Nasdaq-100 Index, while those looking for greater concentration in the largest companies may prefer the Nasdaq-100 Mega Index or Nasdaq-100 Top 30 Index. Investors seeking to reduce concentration in the largest companies may prefer the Nasdaq-100 Equal Weighted Index.

ProShares offers ETFs tied to each of these indexes, including TQQQ, QLD, QQUP, QQXL, and EQQQ. 

Performance has varied over time based on the period measured, market conditions, and each index's methodology.

  • Nasdaq-100 Mega Index (NDXMEGA) may outperform when the largest companies in the Nasdaq-100 lead the market.   
  • Nasdaq-100 Top 30 Index (NDX30) may outperform when market leadership is concentrated among the 30 largest companies.   
  • Nasdaq-100 Equal Weighted Index (NDXE) may outperform when performance broadens across a wider range of Nasdaq-100 companies.   

Investors may view current and historical performance on the relevant index or ProShares fund pages. 

The Nasdaq-100 Index, Nasdaq-100 Mega Index, Nasdaq-100 Top 30 Index, and Nasdaq-100 Equal Weighted Index all provide exposure to companies driving artificial intelligence (AI) innovation. Investors seeking greater concentration in the largest AI-related companies may prefer the Nasdaq-100 Mega Index or Nasdaq-100 Top 30 Index. 

For investors seeking leveraged or inverse exposure to Nasdaq indexes with exposure to AI companies, ProShares offers ETFs including QQUP, QQDN, and QQXL. 

Among the four Nasdaq indexes previously mentioned, the Nasdaq-100 Mega Index currently has the greatest exposure to NVIDIA because it concentrates on the largest companies in the Nasdaq-100 based on cumulative index weight. The Nasdaq-100 Top 30 Index and Nasdaq-100 Index also have significant NVIDIA exposure based on the index methodology. Index holdings and their weights in those indexes are subject to change.

For investors seeking leveraged or inverse exposure to Nasdaq indexes with generally significant NVIDIA weightings, ProShares offers ETFs including QQUP, QQDN, and QQXL.

The Magnificent Seven and FANG are commonly used to refer to fixed groups of large, tech-oriented companies. In contrast, the Nasdaq-100 Mega Index follows a dynamic approach that targets approximately the top 45% of the Nasdaq-100 by cumulative index weight and adapts over time as Nasdaq-100 leadership changes. Learn more.

The "best" leveraged Nasdaq ETF depends on an investor's objectives and which index exposure they're seeking. ProShares offers leveraged and inverse ETFs tied to a range of Nasdaq indexes, including the Nasdaq-100, Nasdaq-100 Mega, Nasdaq-100 Top 30, and Nasdaq-100 Equal Weighted indexes.

Explore ProShares' Nasdaq ETF lineup to find the index exposure that best aligns with your investment goals. 

The "best" leveraged technology ETF depends on an investor's objectives. Investors seeking broad exposure to many of the world's leading technology companies may consider leveraged ETFs tied to the Nasdaq-100, while others may prefer funds that track technology-specific indexes. The right ETF depends on an investor's objectives, desired exposure, and risk tolerance. 

Explore ProShares' Nasdaq ETF lineup to find the index exposure that best aligns with your investment goals. 

ProShares offers a range of leveraged and inverse ETFs exclusively indexed to the Nasdaq-100, giving investors multiple ways to express bullish or bearish views. In addition to ETFs tied to the Nasdaq-100 Index, ProShares also offers ETFs tied to the Nasdaq-100 Mega Index, Nasdaq-100 Top 30 Index, and Nasdaq-100 Equal Weighted Index. This allows investors to choose broad, concentrated, or equal-weight Nasdaq exposure based on their investment objectives.

These 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 a Fund’s 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. Geared 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. Short ProShares ETFs should lose money when their benchmarks or indexes rise. The funds may concentrate 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. Equal weight ETFs should not be expected to have a truly equal weight composition at all times. Investors could potentially lose the full value of their investment within a single day. Please see their summary and full prospectuses for a more complete description of risks. There is no guarantee any ProShares ETF will achieve its investment objective.

"Nasdaq,®" "Nasdaq-100,®" "Nasdaq-100 Index®", "QQQ®", “Nasdaq-100 Top 30 Index”, “Nasdaq-100 Mega Index” and “Nasdaq-100 Equal Weighted” are trademarks of The Nasdaq OMX Group, Inc. and have been licensed for use by ProShares. ProShares have not been passed on by Nasdaq OMX or its affiliates as to their legality or suitability. ProShares based on Nasdaq indexes are not sponsored, endorsed, sold or promoted by Nasdaq OMX or its affiliates, and they make no representation regarding the advisability of investing in ProShares. THIS ENTITY AND ITS AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

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.

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