ProShares UltraPro QQQ is a leveraged or inverse exchange-traded fund designed for short-term tactical exposure to three times the daily performance of the Nasdaq-100 Index. These products typically rebalance daily and are mainly intended for active traders rather than long-term buy-and-hold investors. Returns over periods longer than one day can differ materially from the simple multiple of the underlying index because of compounding, volatility, financing costs, and fund expenses.