The world’s largest leveraged ETF – ProShares UltraPro QQQ (TQQQ) – is celebrating its 15th anniversary. As of February 2025, it has accumulated over $25 billion in assets.
TQQQ aims to triple the daily returns of the Nasdaq-100 Index, before fees and expenses. It uses a mix of derivatives and debt to achieve its 3x leverage. TQQQ currently has an expense ratio of 0.84%.
Since its inception in 2010, TQQQ has been a top-performing fund, benefiting from the boom in technology innovation. With a monthly trading volume of almost 60 million, last year it ranked among the top five most-traded ETFs in the U.S.
Proshares’ TQQQ carries higher risks because of its leverage. As such, it caters to sophisticated traders looking to capitalize on short-term market shifts.
That said, it is an immensely popular fund. TQQQ is nearly three times the size of the second-largest leveraged ETF, the $9.7 billion Direxion Daily Semiconductor Bull 3x Shares (SOXL). TQQQ’s size is also notable, because leveraged ETFs tend to be viewed as tactical products that are less likely to see sticky assets and are only intended to be held for short periods of time – days, rather than months or years.
“Many risk-aware ETF traders have long turned to TQQQ for growth exposure,” said Todd Rosenbluth, head of research at VettaFi. “It’s a tremendous milestone for ProShares to have this fund thrive in its 15th year.”
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