US-listed · NASDAQ · FIF-eligible (above NZ$50K)
ProSharesTQQQProShares UltraPro QQQ
Designed to deliver 3× the daily return of the Nasdaq-100 Index. Daily rebalancing produces volatility decay over multi-day holds.
Updated Reviewed quarterly
TQQQ is a leveraged ETF designed by ProShares for daily-cycle trading by sophisticated investors — not for buy-and-hold portfolios. Daily-reset compounding produces volatility decay that erodes returns over multi-day holds, even when the Nasdaq-100 itself moves favourably. ASIC and the US SEC have issued investor alerts on this product class. Read our full leveraged-ETF risk explainer at /learn/leveraged-etfs-risk-nz/ before considering this fund.
About this fund
What is TQQQ?
TQQQ is the US-listed ticker for ProShares UltraPro QQQ, issued by ProShares. Designed to deliver 3× the daily return of the Nasdaq-100 Index. Daily rebalancing produces volatility decay over multi-day holds. TER is 0.82% per year.
TQQQ does not distribute.Returns are reflected in unit price (accumulating / no distribution).
Platform availability
Where to buy TQQQ from New Zealand
Based on each platform's advertised market coverage and fee schedule. Verify with the platform before transacting — instrument coverage can change.
| Platform | Per-trade fee | FX | Min | Notes |
|---|---|---|---|---|
 SharesiesSharesies | 1.9% per trade | 0.5% | NZ$0 | Beginners, fractional shares, mixing NZ + US ETFs |
 HatchHatch | US$3 per trade (≤300 shares) | 0.5% | NZ$0 (US$1 to invest) | NZ investors who want US-only ETFs (SPY, VOO, QQQ, SCHD, JEPI) |
 StakeStake | US$0 trades | 0.70% | NZ$0 | Frequent US-share traders who hate per-trade fees |
 Interactive BrokersInteractive Brokers | From US$0.35 / trade (Tiered) or US$1 flat (Fixed) | ~0.002% (US$2 min) | US$0 | Larger portfolios, frequent traders, multi-market investors |
 Tiger BrokersTiger Brokers | US$2 flat per US trade (to 200 shares) | 0.50% | NZ$0 | NZ investors who want NZ + US + Asian markets in one account |
 Invest DirectInvest Direct | From NZ$29.90 per trade | Undisclosed margin on conversion | NZ$0 | US trading must be switched on by request, and covers a curated list of US securities — check this ticker is on it. |
 ASB SecuritiesASB Securities | NZ$30 per NZX trade | Bank rates (~1%) | NZ$0 (ASB customer) | Existing ASB customers wanting one login for banking + brokerage |
Showing 7 platforms that list this ETF. Full platform comparison: all 11 NZ brokers → · Full coverage matrix: availability matrix →
NZ tax treatment
How is TQQQ taxed for NZ investors?
TQQQ is US-domiciled. NZ investors apply Foreign Investment Fund rules once total overseas-share cost basis crosses the de-minimis threshold. Below it, only dividends are taxable.
The FIF de-minimis threshold is NZ$50,000(source) of overseas-share cost basis. Below it, FIF rules do not apply and only dividends are taxable.
Most NZ retail investors use Fair Dividend Rate (FDR): deemed income = 5% × opening market value × your marginal rate. Comparative Value (CV) can be lower in flat or down years.
FDR vs CV method → · PIE vs FIF comparison →
🧮 Model your own after-tax outcome
Mechanical NZ-tax calculator comparing PIE @ PIR vs FIF @ FDR vs FIF @ CV on your principal, assumed return, time horizon, PIR, and marginal rate. → Open the after-tax calculator
General information only — not personalised tax advice. Confirm your treatment with a registered NZ tax adviser before transacting.
Add up to 4 more tickers to compare TER · yield · distribution · NZ tax structure.
Similar ETFs
ETFs with similar focus to TQQQ
Same asset class, issuer cousins, and exchange peers — ranked by closest match. Click any row to compare side-by-side in the multi-compare tool.
| Ticker | Name | TER | Yield | Distribution | NZ tax | Compare |
|---|---|---|---|---|---|---|
| FNZ | NZ Top 50 (FNZ) Smartshares · NZX | 0.50% | 3.2% | Semi-annual | PIE | TQQQ vs FNZ |
| NZ20 | Kernel NZ 20 Kernel · Unlisted | 0.25% | — | Quarterly | PIE | TQQQ vs NZ20 |
| TNZ | NZ Top 10 (TNZ) Smartshares · NZX | 0.60% | 1.9% | Semi-annual | PIE | TQQQ vs TNZ |
| VTI | VTI Vanguard · NYSE Arca | 0.03% | 1.0% | Quarterly | FIF | TQQQ vs VTI |
| QQQ | QQQ Invesco · NASDAQ | 0.18% | — | Quarterly | FIF | TQQQ vs QQQ |
Distribution history
Last 12 distributions — TQQQ
TQQQ does not pay distributions. Returns are reflected in the unit price (accumulating). There is no distribution-payment history to display.
FAQ
Common questions about TQQQ
What is the TQQQ ETF?⌄
TQQQ is the ProShares UltraPro QQQ — a leveraged ETF designed to deliver 3× the daily return of the Nasdaq-100 Index. The 3× exposure resets every trading day at market close. TER is 0.82%, materially higher than unleveraged QQQ (0.20%) or QQQM (0.15%) because of derivative-rebalancing costs. ProShares explicitly states TQQQ is "designed to seek daily investment results, before fees and expenses, that correspond to three times (3x) the daily performance of the Nasdaq-100 Index" and is "not intended to be held for periods longer than a day".
Why does TQQQ "decay" over time?⌄
Daily compounding. Because the leverage resets each day, multi-day returns compound differently than a simple 3× expectation. In volatile or sideways markets, this produces drag — even a flat Nasdaq-100 over multiple days can produce losses in TQQQ. The mechanism is structural, not a fund-management failure. Worked examples and the full mechanics are at our leveraged ETF risk explainer.
Can NZ residents buy TQQQ?⌄
Yes. TQQQ is available via Hatch, Stake, Sharesies (US market), and Interactive Brokers. Above NZ$50,000 cost basis FIF rules apply (FDR method most common). The combination of leverage decay + FDR floor (5% × MV regardless of fund performance) typically produces poor after-tax outcomes for NZ buy-and-hold investors. See our risk explainer for the full FIF interaction.
Who is TQQQ actually for?⌄
Sophisticated traders running daily-cycle directional bets on the Nasdaq-100. ProShares explicitly markets TQQQ for short-term tactical positions, not buy-and-hold. ASIC and the US SEC have both issued investor alerts on this product class. ETFs.co.nz publishes TQQQ reference data factually but does not recommend it as a buy-and-hold instrument for any investor profile.
Where to buy TQQQ from New Zealand
The platforms below all support TQQQ. Each link opens the platform's site directly — we don't take any payment for placement or for clicks.
Hatch
Sharesies
Interactive Brokers
Stake
Tiger BrokersFees + platform details verified against each provider's published rate card. Always check the current schedule before transacting.Full platform comparison →
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Sources for this TQQQ data
The figures on this page come from the documents below. We do not pull live prices; the data is reviewed against issuer fact sheets and exchange listings (last reviewed 2026-07-05). Which figures have been checked against the issuer by machine, rather than by eye, is stated below — an unchecked figure is labelled as such rather than left ambiguous.
- ○Total expense ratioNot independently verified — check the issuer documents below before relying on it. We review unsourced figures by 2027-03-04; if no issuer publishes one by then, this figure is removed rather than left standing.
Issuer product page
proshares.com/our-etfs/leveraged-and-inverse/tqqq
Fact sheet (PDF)
proshares.com/globalassets/proshares/fact-sheet/prosharesfactsheettqqq.pdf
External links open in a new tab. We do not earn commission on issuer product pages. See our methodology + disclosure.
Related ETFs and resources
Leveraged ETFs — risk explainer (READ FIRST)
Why TQQQ / SOXL / UPRO are not buy-and-hold instruments — daily-reset volatility decay, regulator stance, NZ tax interaction.
QQQM — Invesco Nasdaq-100 (unleveraged)
Buy-and-hold-friendly Nasdaq-100 exposure at 0.15% TER.
QQQ — Invesco Nasdaq-100 (high-liquidity)
Higher-liquidity Nasdaq-100 ETF; same holdings as QQQM.
JEPQ — Nasdaq income with covered calls
Income-oriented Nasdaq-100 alternative; covered-call overlay caps upside but no leverage decay.
FIF tax explained
How FIF interacts with leveraged ETFs (FDR floor + decay = poor after-tax).
