ProShares UltraPro QQQ (TQQQ): Complete Beginner's Guide
Last updated: March 2026 • ProShares • Leveraged
Expense Ratio
0.86%
AUM
$25.0B
Dividend Yield
0.50%
Inception
2010
Beginner Score
8/10
What is ProShares UltraPro QQQ?
TQQQ is a 3x leveraged ETF that aims to deliver three times the daily return of the Nasdaq 100 index. WARNING: This fund resets daily, meaning its long-term returns can differ dramatically from 3x the index due to compounding decay. It is designed for short-term trading only and can lose most of its value during prolonged downturns, making it unsuitable for buy-and-hold investors.
TQQQ is managed by ProShares and has been available since 2010. With $25.0B in assets under management, it's a well-established fund with strong institutional backing. The fund charges an expense ratio of 0.86%, which means for every $10,000 you invest, you pay approximately $86 per year in management fees.
TQQQ at a Glance — Key Metrics
| Expense Ratio | 0.86% |
| Total Holdings | 101 |
| P/E Ratio | 35.0 |
| Beta | 3.00 |
| Dividend Yield | 0.50% |
| AUM | $25.0B |
| Inception Year | 2010 |
| Issuer | ProShares |
Top 10 Holdings in TQQQ
TQQQ holds 101 different securities. Here are the largest positions that make up the core of this fund:
| # | Company | Ticker | Weight |
|---|---|---|---|
| 1 | Apple Inc. | AAPL | 26.00% |
| 2 | Microsoft Corp. | MSFT | 24.00% |
| 3 | NVIDIA Corp. | NVDA | 20.00% |
| 4 | Amazon.com Inc. | AMZN | 15.00% |
| 5 | Meta Platforms Inc. | META | 10.00% |
| 6 | Alphabet Inc. Class A | GOOGL | 9.00% |
| 7 | Alphabet Inc. Class C | GOOG | 8.50% |
| 8 | Broadcom Inc. | AVGO | 7.00% |
| 9 | Tesla Inc. | TSLA | 6.00% |
| 10 | Costco Wholesale | COST | 4.00% |
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TQQQ Performance History
Here's how TQQQ has performed over different time periods. Remember that past performance doesn't guarantee future results, but it gives you a sense of the fund's track record:
YTD
14.00%
1 Year
75.00%
3 Year
25.00%
5 Year
40.00%
10 Year
45.00%
Beginner Suitability Score: 8/10
Our proprietary Beginner Suitability Score evaluates ETFs based on five factors that matter most to new investors: fees, volatility, diversification, dividend history, and track record length.
TQQQ scores 8/10 because it has very low fees, can be more volatile than the broader market, offers broad diversification across 101 holdings, and has been available since 2010, giving it a proven track record.
How to Buy TQQQ — Step by Step
- Open a brokerage account — We recommend Fidelity, Charles Schwab, or Vanguard for ETF investing. All offer $0 commissions on ETF trades.
- Fund your account — Transfer money from your bank. You can start with as little as $1 if your broker offers fractional shares.
- Search for "TQQQ" — Use the search bar in your brokerage platform to find ProShares UltraPro QQQ.
- Place your order — Choose "Market Order" for simplicity or "Limit Order" if you want to set a specific price. Enter how many shares (or dollar amount) you want to buy.
- Set up automatic investing — Most brokers let you schedule recurring purchases (e.g., $100/month on the 1st). This is dollar cost averaging in action.
Dollar Cost Averaging Into TQQQ
Here's what consistent monthly investing could look like over time, assuming an average annual return of 8% (approximate historical stock market average):
| Monthly | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| $100/mo | $18,417 | $59,295 | $150,030 |
| $250/mo | $46,041 | $148,237 | $375,074 |
| $500/mo | $92,083 | $296,474 | $750,148 |
*Projections assume 8% average annual return with monthly compounding. Actual returns will vary. Past performance doesn't guarantee future results.
Fee impact: With TQQQ's expense ratio of 0.86%, a $10,000 investment would lose approximately $6,887 to fees over 20 years compared to a zero-fee investment. This is significant — consider whether the fund's strategy justifies these costs.
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Pros and Cons of TQQQ
Pros
- ✓Can deliver massive short-term gains when the Nasdaq 100 is trending upward
- ✓Highly liquid with $25B in assets making it easy to enter and exit positions quickly
- ✓Useful for experienced traders who understand leverage and want amplified Nasdaq exposure
- ✓Effective tool for short-term tactical bets on technology sector momentum
Cons
- ✗Daily compounding decay erodes returns over time, especially in choppy or sideways markets
- ✗Can lose 70-90% of its value during prolonged bear markets like the 2022 tech selloff
- ✗Very high 0.86% expense ratio that compounds the cost of holding this fund
TQQQ vs Similar ETFs
See how TQQQ stacks up against similar funds:
Frequently Asked Questions
Is TQQQ a good ETF for beginners?▾
TQQQ has a Beginner Suitability Score of 8/10 on our scale. This makes it a strong choice for new investors due to its low fees and broad diversification.
What is the expense ratio of TQQQ?▾
TQQQ has an expense ratio of 0.86%. This means for every $10,000 you invest, you pay approximately $86 per year in fees. This is considered very low and cost-efficient.
How much money do I need to invest in TQQQ?▾
You can invest in TQQQ with as little as $1 through brokers that offer fractional shares (like Fidelity, Schwab, or Robinhood). There is no minimum investment required beyond the share price itself, which changes daily. Dollar cost averaging — investing a fixed amount regularly — is a popular strategy.
Does TQQQ pay dividends?▾
Yes, TQQQ pays dividends with a current yield of approximately 0.50%. Dividends are typically paid quarterly and can be reinvested automatically through most brokers.
What are the top holdings in TQQQ?▾
The top holdings in TQQQ include Apple Inc. (26.00%), Microsoft Corp. (24.00%), NVIDIA Corp. (20.00%), and more. The fund holds 101 total positions, providing broad diversification across many companies.