What Is TQQQ? ProShares UltraPro QQQ

TQQQ is ProShares UltraPro QQQ, an ETF that tracks Nasdaq-100 (3x daily) at a 0.82% expense ratio. Seeks three times the DAILY return of the Nasdaq-100 using swaps, so it amplifies both gains and losses. Because the leverage resets daily, returns compound in ways that diverge sharply from 3x the index over any period longer than a day. It is a trading instrument, not a long-term holding, and carries a high 0.82% fee.

TQQQ is issued by ProShares and tracks Nasdaq-100 (3x daily), so a single ticker gives you the whole basket of underlying holdings weighted by the index's methodology rather than by any active stock-picking.

TQQQ does not hold a basket of individual stocks. It gets its exposure synthetically, through derivatives such as swaps and futures rather than by owning the underlying shares, so there is no conventional top-10 equity holdings list. See the description above for what TQQQ actually tracks and how that exposure is built.

TQQQ gives you Nasdaq-100 (3x daily) exposure in one ticker at a 0.82% expense ratio. Most investors use it as a core holding and layer more concentrated thematic baskets on top.

Whether TQQQ is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is TQQQ a buy?

TQQQ yields ~0.37% as of mid-2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see TQQQ dividend: yield and schedule.