At a glance
MQQQ charges 1.03% a year. It has $282.5M in assets; it paid 1.61% of its price in distributions over the past 12 months, annual. Over the past year it returned +18.7% with distributions reinvested (S&P 500: +11.5%).
The short version
Tradr 2X Long Triple Q Monthly ETF (MQQQ) aims to return twice (200%) the calendar-month performance of the Invesco QQQ Trust, before fees. It gets there mainly through QQQ shares and swaps. Most leveraged ETFs reset their leverage daily, but this one resets monthly. Even so, results over longer periods still drift from 2x. It charges 1.03% a year and fell 42.2% at its worst, so it fits short-term traders better than long-term holders.
Price history
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MQQQ +18.7% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| MQQQ official prospectus, to Dec 31, 2025 | — | +31.50% | — | — | — | +34.01% |
| MQQQ price data to Oct 27, 2026 | +25.6% | +18.7% | — | — | — | +37.5% |
- Over the year to Oct 27, 2026, MQQQ returned +18.7%.
- Its worst full calendar year was 2025 (+31.6%); its best was 2025 (+31.6%).
- The deepest fall in its price history was 42.2% (Dec 16, 2024 to Apr 8, 2025), recovered by Jul 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +25.6% | — |
| 2025 | +31.6% | +31.50% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $3.6600 |
What's inside
As of Jun 30, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (0% of net assets), with its exposure coming from 3 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| INVESCO QQQ TRUST - USD | 57.37% |
By country
United States 57.37%By asset type
Stocks 57.37%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $114.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +30.84%, +20.29%, -0.86%.
How it works
MQQQ is an actively managed ETF from AXS Investments. It seeks 200% of the Invesco QQQ Trust's return over each full calendar month, before fees. A month runs from the close on the last business day of one month to the close on the last business day of the next. The fund keeps at least 80% exposure to instruments that double QQQ's moves. These include swaps with major global financial institutions (contracts that pay the fund QQQ's return on an agreed dollar amount), QQQ shares, listed options and Nasdaq-100 futures. As of June 30, 2026, about 57% of assets were in QQQ shares. Three contracts for difference (a type of swap) on QQQ were worth about 15% of net assets.
The advisor rebalances monthly to restore 200% exposure. Over periods longer than a month, returns compound and will very likely differ from 2x QQQ, possibly even in direction. Shares purchased mid-month may carry more or less than 2x exposure, depending on how QQQ has moved since the month began.
As a safeguard, if QQQ falls 35% within a month, the fund resets its leverage early and treats the rest of the month as a new period. Leverage still raises the risk of a total loss. Swaps add counterparty risk, and portfolio turnover was 158%.
What it really costs
- MQQQ charges 1.03% a year.
- Of that, 0.95% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $105 in the first year and $1,259 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| MQQQ | $105 | $328 | $569 | $1,259 |
Structure and tax notes
- Resets its exposure every day. Over periods longer than a day, compounding means returns can differ sharply from 2× the index — usually worse in choppy markets. Built for short-term trading, not buy-and-hold.
In a retirement portfolio
It doubles the monthly moves of a tech-heavy fund, carries a risk of total loss, and its prospectus targets results only over single calendar months.
MQQQ launched on September 3, 2024, so it has no record in the 2008, 2020 or 2022 downturns. Its deepest drop was 42.2%, from December 16, 2024 to April 8, 2025. It took about 2.8 months to recover, by July 3, 2025. Its only full calendar year, 2025, returned 31.5%. One-year volatility was 39.5% as of October 27, 2026. Anyone forced to draw money near a low like April 2025 would have locked in a deep loss.
Income is minor. The trailing yield was 1.61% as of October 27, 2026, and the fund pays once a year. The 1.03% expense ratio comes to about $105 in the first year on $10,000 under the SEC's standard example. Past results don't predict the future, and any plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Experienced traders who want twice the calendar-month return of the Invesco QQQ Trust in a single exchange-traded fund.
- Traders who prefer a monthly leverage reset to the daily reset most leveraged ETFs use, and who review positions month to month.
- People comfortable with swings like the 42.2% drop from December 2024 to April 2025 and one-year volatility of 39.5%.
Look elsewhere if
- Long-term holders and retirement savers: over periods longer than a month, returns compound and can differ sharply from 2x QQQ.
- Income seekers: the trailing yield was 1.61% as of October 27, 2026, paid only once a year.
- Cost-conscious investors: the 1.03% expense ratio and reliance on swap contracts add costs and risks that owning QQQ alone does not carry.
Close alternatives
Matched by leveraged/inverse funds on the same index (the index could not be identified from the name).
No close alternatives found.
Questions investors ask
Is MQQQ good for long-term investing?
It isn't designed for it. The prospectus says MQQQ seeks twice the Invesco QQQ Trust's return only over a full calendar month. Over longer periods, monthly results compound and will very likely differ from 2x QQQ, possibly even in direction. The fund fell 42.2% between December 16, 2024 and April 8, 2025, and leverage raises the risk of losing an entire investment. It may suit active traders more than long-term holders.
What's the difference between MQQQ and QQQ?
QQQ is an unleveraged fund that owns its stocks directly. MQQQ uses QQQ shares, swaps, options and futures to aim for twice QQQ's calendar-month return. As of June 30, 2026, about 57% of MQQQ's assets were in QQQ shares, alongside contracts for difference on QQQ. MQQQ charges 1.03% a year. It also carries leverage, compounding and counterparty risks that owning QQQ alone does not.
Does MQQQ pay dividends?
Yes, but only once a year, and not much. Over the 12 months through October 27, 2026, MQQQ paid $3.66 per share, a trailing yield of 1.61%. Much of a leveraged fund's exposure comes from derivatives rather than dividend-paying stocks, so payouts can vary from year to year. People looking for steady monthly or quarterly income will find little of it here.
Can MQQQ lose all its value?
Yes. The prospectus warns that leverage increases the risk of a total loss. Because the fund targets 200% of QQQ's monthly move, a QQQ decline approaching 50% within a calendar month could wipe out the fund. As a safeguard, the fund resets its leverage early if QQQ falls 35% within a month. The prospectus says there is no guarantee this will work. A swap counterparty failing to pay is another risk.
What is MQQQ's expense ratio?
MQQQ's expense ratio is 1.03%, including a 0.95% management fee, according to the prospectus filed July 23, 2026. In the SEC's standard example, $10,000 earning 5% a year would pay about $105 in costs over one year, $328 over three, $569 over five and $1,259 over ten. Trading inside the fund adds costs not counted in that figure. Portfolio turnover was 158%.