QLD
ETFProShares Ultra QQQ
One email when a drop — in price or in valuation — is historically rare for QLD. Otherwise we stay quiet.
Rare — pay attention.
ProShares Ultra QQQ is 26.5% off its high, 23 days in — deeper than the vast majority of its 219 recorded drawdowns. This is the kind of decline the severity score exists to flag.
Strong
Current Drawdown
-26.5%
Days in Drawdown
23
Avg Max Drawdown
5.2%
Avg Length
31
Drawdown Severity Score™
5.2
QLD - Price & High Water Mark
QLD - Drawdown Timeline
How to read this chart: Negative values indicate drawdowns from all-time highs. Values closer to 0% mean the stock is near its high water mark.
ProShares Ultra QQQ (QLD) Analysis: Current Drawdown Insights
ProShares Ultra QQQ is currently in a drawdown that is unusual by its own historical standards. As of 2026-11-06, the fund is trading at $74.11, which represents a 26.5% decline from its all-time high of $100.77. This drawdown has persisted for 23 days.
QLD by the numbers
- The last time QLD fell this far was the decline that began in Dec 2024. It bottomed at 42% and took 7 months to get back to its high.
- Only 7 declines since 2006 went deeper than today's 26%.
- Over the past 10 years, QLD spent 20% of trading days further below its high than it is now.
- Since 2006, QLD has fallen 20% or more 14 times, and 30% or more 6 times.
The Drawdown Severity Score™ for ProShares Ultra QQQ currently stands at 5.23. A score between 5.0 and 8.0 indicates a rare, significant drawdown: the asset seldom sees declines at this level in its tracked history.
New to drawdowns? Read what a drawdown is.
📜 Historical Drawdown Events
Current drawdown shown in blue. Below are 25 of QLD's larger declines from its 219 tracked pullbacks, newest first.
| Start Date | End Date | Duration | Max Depth | Start Price | Lowest Price | Recovery Price |
|---|---|---|---|---|---|---|
| 2026-10-14 | Ongoing | 23 days | -26.5% | $100.77 | $74.11 | n/a |
| 2025-10-30 | 2026-04-17 | 170 days | -25.1% | $76.29 | $57.12 | $76.68 |
| 2025-10-09 | 2025-10-24 | 16 days | -7.3% | $70.98 | $65.83 | $71.90 |
| 2025-08-14 | 2025-09-11 | 29 days | -5.9% | $64.45 | $60.63 | $64.92 |
| 2024-12-17 | 2025-07-17 | 212 days | -42.3% | $59.92 | $34.58 | $60.75 |
| 2024-11-11 | 2024-12-03 | 23 days | -6.9% | $55.11 | $51.30 | $55.45 |
| 2024-07-11 | 2024-11-07 | 120 days | -26.2% | $54.70 | $40.37 | $55.04 |
| 2021-11-22 | 2024-05-24 | 914 days | -63.7% | $45.62 | $16.57 | $45.65 |
| 2021-09-08 | 2021-10-28 | 51 days | -14.9% | $41.03 | $34.91 | $41.35 |
| 2021-04-19 | 2021-06-14 | 57 days | -14.4% | $33.20 | $28.41 | $33.46 |
| 2021-02-16 | 2021-04-13 | 56 days | -21.0% | $32.49 | $25.66 | $32.94 |
| 2021-01-27 | 2021-02-04 | 9 days | -8.4% | $31.09 | $28.49 | $31.33 |
| 2020-09-03 | 2020-12-07 | 96 days | -24.5% | $27.07 | $20.43 | $27.24 |
| 2020-02-20 | 2020-07-01 | 132 days | -51.7% | $18.57 | $8.97 | $18.70 |
| 2018-08-30 | 2019-07-10 | 315 days | -42.5% | $12.53 | $7.21 | $12.57 |
| 2018-03-13 | 2018-06-06 | 86 days | -20.3% | $11.10 | $8.85 | $11.19 |
| 2018-01-29 | 2018-03-09 | 40 days | -19.7% | $10.84 | $8.70 | $11.00 |
| 2015-11-05 | 2016-08-05 | 274 days | -30.7% | $5.10 | $3.53 | $5.15 |
| 2015-07-21 | 2015-11-03 | 106 days | -26.5% | $5.08 | $3.74 | $5.10 |
| 2014-09-19 | 2014-10-31 | 43 days | -16.1% | $3.96 | $3.32 | $4.04 |
| 2012-09-20 | 2013-04-30 | 223 days | -22.4% | $1.95 | $1.51 | $1.97 |
| 2012-04-04 | 2012-09-06 | 156 days | -22.3% | $1.85 | $1.44 | $1.90 |
| 2007-11-01 | 2012-03-19 | 1601 days | -83.1% | $1.77 | $0.30 | $1.79 |
| 2007-07-20 | 2007-09-25 | 68 days | -19.3% | $1.53 | $1.23 | $1.54 |
| 2007-01-17 | 2007-04-25 | 98 days | -14.9% | $1.29 | $1.10 | $1.32 |
| 2006-07-05 | 2006-09-05 | 63 days | -16.5% | $0.99 | $0.83 | $1.00 |
How to read: Each row shows a complete drawdown from peak to recovery. Red rows = most severe drawdowns (worst 20% or 5x+ average), yellow rows = moderate (2x-5x worse than average).
Know the Moment Severity Changes
Since 2016, 75% of 1,138 Strong Buy and Ultra Buy alerts are in profit, up 191% on average vs 135% for the S&P 500 over the same windows (typical alert +76% vs +105%).
See every alert, losers included • Simulated, past results do not predict future results
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Or explore current drawdowns:
QLD Price History and Drawdown Data
Latest price
$74.11
High-water mark
$100.77
Current drawdown
-26.5%
Days in drawdown
23
What History Says About QLD
ProShares Ultra QQQ has dropped 25%+ from its high 9 times in its tracked history. These events lasted an average of 427 days with an average max drop of -43.5%.
The current drawdown of -26.5% has lasted 23 days, which is within the typical range for comparable events.
| Period | Max Drop | Duration |
|---|---|---|
| Nov 2007 to Mar 2012 | -83.1% | 1601 days |
| Nov 2021 to May 2024 | -63.7% | 914 days |
| Feb 2020 to Jul 2020 | -51.7% | 132 days |
| Aug 2018 to Jul 2019 | -42.5% | 315 days |
| Dec 2024 to Jul 2025 | -42.3% | 212 days |
| Nov 2015 to Aug 2016 | -30.7% | 274 days |
Past Strong Buy alerts for QLD
Simulated from our published thresholds, one alert per drawdown episode. Prices through Nov 8, 2026. Past results do not predict future results.
| Alert date | Level | Price at alert | Return to date | S&P 500, same window | vs S&P 500 |
|---|---|---|---|---|---|
| Apr 4, 2025 | Strong Buy | $35.81 | +107% | +46% | Beat |
| Mar 14, 2022 | Strong Buy | $27.52 | +169% | +86% | Beat |
| Mar 12, 2020 | Strong Buy | $10.02 | +639% | +222% | Beat |
| Dec 21, 2018 | Strong Buy | $7.57 | +879% | +239% | Beat |
Get a free email when QLD drops further than usual
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Related Articles
QLD Climbs Back After Its Drawdown: The Data Recap
Sep 21, 2026 · 5 min read
ProShares Ultra QQQ Recovery Update: Drawdown Stress Is Easing
Aug 4, 2026 · 5 min read
QLD Recovers: How This Drawdown Compares to Its Past
Jul 10, 2026 · 5 min read
QLD's 11% Pullback: Historical Context
Jul 7, 2026 · 5 min read
ETFs in a similar drawdown
These are the tracked ETFs whose current drawdown from their prior high is closest to QLD's. Percentages are each one's current drawdown. This is a comparison list, not a recommendation.
- FVUB.LFranklin FTSE Brazil UCITS ETF-26.5% current drawdown
- BTCUDirexion Daily Bitcoin Bull 2X ETF-25.8% current drawdown
- BRAZGlobal X Brazil Active ETF-27.4% current drawdown
- GLDSPDR Gold Shares-24.9% current drawdown
- BARGraniteShares Gold Trust-24.8% current drawdown
- GDXVanEck Gold Miners ETF-24.4% current drawdown
ETFs that usually fall about as much as QLD
Ranked by the average size of each one's declines from a high over its tracked history. QLD's average is 5.1%. This is a comparison list, not a recommendation.
Learn More About Drawdowns
What is a Drawdown?
Definition, formula, and real examples
Biggest Drawdowns Ranked
How this asset's decline compares with the deepest in the tracked record
S&P 500 Drawdown History
Every major index decline with depth, duration, and recovery
Understanding Severity Scores
How our scoring compares to maximum drawdown
Our Methodology
Technical details behind the data
The Drawdown Severity Score
Our proprietary scoring algorithm explained
Latest Analysis
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About this data
- Source
- Adjusted daily closing prices from Yahoo Finance, so splits and dividends don't show up as drops.
- Coverage
- Jul 5, 2006 to Nov 6, 2026, about 20 years. 219 declines from a high recorded for QLD.
- Updated
- After each U.S. trading day closes. This page shows the close of Nov 6, 2026.
- How it's calculated
- A drawdown runs from a closing high to the next new high. See the methodology and how the Severity Score works.
Published by DrawdownAlerts. Historical facts only, not investment advice.