QLD’s worst drop since 2006 was 83%
ProShares Ultra QQQ (2x) (QLD) fell 83% from Oct 2007 to Mar 2009. It took 4.4 years from that peak to close at a new high, in Mar 2012. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 6th deepest among the 12 leveraged ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2006 to now
How QLD held up in each crash
| Crash | Years | QLD | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | −83.1% | −55.2% |
| COVID crash | 2020 | −51.7% | −33.7% |
| 2022 rate shock | 2022 | −63.1% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
See how QLD behaves inside your whole mix, with the worst 12 months, loss odds and crash replays. Free, no signup, and the math runs in your browser.
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What was QLD’s maximum drawdown?
QLD’s deepest fall since 2006 was 83.1%, from its high on October 31, 2007 to its low on March 9, 2009. The figure uses daily prices with dividends reinvested.
How long did QLD take to recover?
4.4 years. QLD first closed above its Oct 2007 high again on March 19, 2012.
Was QLD riskier than the S&P 500?
Over the same years, QLD’s worst drop was 83.1% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −77.5% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, June 22, 2006 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.