What this ETF is trying to do

The ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) is designed to track companies with strong price momentum. Instead of just holding every company in the Nasdaq-100, it focuses on a smaller group of stocks that have shown strong upward trends.

What the numbers show

As of October 5, 2026, the share price is $73.47. The fund has seen significant growth over several timeframes:

• Year-to-Date: The price return is 46.96%, and the total return is 46.98%.

• One Year: The price return is 55.46%, and the total return is 55.50%.

• Three Year: The price return is 119.08%, and the total return is 119.58%.

Price return measures only the change in the share price. Total return is a broader measure that includes the distributions paid out to investors.

For example, the estimated price from roughly one year ago was $47.26. If an investor had put $10,000 into the shares a year ago, the price-only growth (55.46%) would have increased that principal to approximately $15,546.

Income and distribution explanation

This ETF pays distributions irregularly. In the last 12 months, it made 3 payouts. The distribution yield is 0.03%.

It is important for beginners to know that a distribution yield is not the same as a total return. While distributions provide cash income, they do not guarantee that the original investment (the principal) will stay the same or grow.

NAV erosion explanation

"NAV erosion" happens when the actual value of the fund's underlying assets drops over time, often causing the share price to fall.

For QQQA, the erosion-risk score is 100, and the erosion severity is labeled as "good." The data shows "No price erosion detected," and the severe erosion-risk flag is false.

Top Holdings

The fund holds 23 different assets. Because the list is partial, we only see the Top Holdings. As of October 7, 2026, the largest holdings include:

• CrowdStrike Holdings Inc (6.64%)

• Palo Alto Networks Inc (5.71%)

• Intel Corp (5.61%)

• Advanced Micro Devices Inc (5.56%)

• Fortinet Inc (5.50%)

Holdings can change over time as the fund follows its momentum strategy.

Pros

• Strong price and total returns over the last one and three years.

• No detected NAV erosion.

• High income rating grade of "A."

Cons

• Distributions are irregular and less frequent.

• The distribution yield is very low.

Beginner takeaway

QQQA is a momentum-focused fund that has seen high price growth recently. While it provides a small amount of cash income, its primary strength in the supplied data is its price return rather than its yield. Always remember that past performance does not guarantee future results.