TQQQ Fees and Costs — ProShares UltraPro QQQ
Data updated: 2026-08-14
The net expense ratio is 0.84%: a 0.75% management fee plus 0.22% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $3.0M in broker commissions, 0.0105% of average net assets, and portfolio turnover was 32%.
TQQQ Fees and Expenses
Annual operating expenses and sales charges of TQQQ. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.22% |
| Gross expense ratio | 0.97% |
| Fee waiver | −0.13% |
| Net expense ratio | 0.84% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
TQQQ Costs Over Time
On $10,000 invested in TQQQ, assuming 5% a year before costs, total costs come to $534 over 5 years, cutting the return by 0.89% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.84%) | $88 | $276 | $479 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $89 | $293 | $534 |
| Value after costs | $10,411 | $11,283 | $12,229 |
| Impact on return, per year | 0.89% | 0.89% | 0.89% |
TQQQ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0105%
- Total broker commissions: $3.0M
- Bought from dealers (principal trades, not a cost): $171.0B
- Portfolio turnover (prospectus): 32%
- Securities on loan, average value: $7.9M
- Net income from securities lending: $33K (0.000% of average net assets)
TQQQ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Susquehanna Financial Group, LLLP | $1.5M | 48.33% |
| BNP Paribas Securities Corp. | $939K | 31.14% |
| Virtu Americas LLC | $400K | 13.24% |
| RBC Capital Markets, LLC | $220K | 7.29% |
TQQQ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $76.2B | 45.05% |
| Goldman Sachs & Co. LLC | $34.0B | 20.10% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $27.2B | 16.12% |
| Bank of Montreal | $10.6B | 6.26% |
| Barclays Capital, Inc. | $7.7B | 4.55% |
| ABN AMRO Clearing Chicago LLC | $4.8B | 2.84% |
| Jane Street Capital, LLC | $3.2B | 1.92% |
| Citigroup Global Markets Inc. | $2.7B | 1.60% |
| BofA Securities, Inc. | $1.3B | 0.79% |
| Morgan Stanley & Co. LLC | $1.3B | 0.76% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.