ProShares, provider of leveraged and inverse ETFs, announced the launch of ProShares Ultra QQQ Top 30 (QQXL), the first and only ETF designed to offer twice (2x) the daily performance of the Nasdaq-100 Top 30 Index.
In this way, the company expands its $40 billion range of leveraged and inverse ETFs linked to the Nasdaq-100, which includes ProShares UltraPro QQQ (TQQQ), the largest leveraged ETF in the world.
The Nasdaq-100 Top 30 Index offers concentrated exposure to 30 of the largest and most influential companies in the technology-focused Nasdaq-100 Index, with leading companies such as Nvidia, Apple, and Meta Platforms.
“In recent years, market leadership has concentrated in a group of innovators—many in the technology sector—who are redefining what is possible, a trend that investors want to capture,” said Michael L. Sapir, CEO of ProShares. “With QQXL, investors can now seek twice the daily returns of these market leaders with the ease and convenience of a single ETF trade,” the executive added.
ProShares manages more than $90 billion in assets, pioneered the leveraged and inverse ETF category nearly two decades ago, and remains the largest provider globally. It offers funds linked to major stock indices, individual equities, fixed income, commodities, currencies, cryptocurrencies, and volatility.
