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QQDN

GradeCNASDAQ Global Select

ProShares - UltraShort QQQ Mega

Leveraged · Leveraged & Inverse · ProShares · Inception 2025-06-10

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$20.01+0.57 (+2.95%)

As of Sep 23, 2026, 2:07 PM EDT

History starts Jun 12, 2025.
Intraday session: up, 6 prints from 19.44 to 20.01. Range 19.57 to 20.10. Use the arrow keys to read each point.$19.60$19.8010 AM12 PM2 PM4 PM
Expense ratio
1.12%
Fund size
$1M
1Y return
−23.5%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$20.31
52W range
low $19.56high $35.03

The ETF.net QQDN Grade

C

40/ 100

Rank 33 of 54 in Leveraged Inverse (2x & Other)⁠

Confidence Medium

Six-pillar profile for QQDN. Scores out of 100: Cost 58, Risk 46, Mission not scored, Tradability 31, Holdings not scored, Durability 22. Strongest: Cost (58). Weakest: Durability (22). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned47This cap took−7Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 58
    Category rank23/54 · top 43%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 46
    Category rank29/53 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 31
    Category rank40/54 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 22
    Category rank51/54 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on QQDN

ETF.net Research

CMost Nasdaq bear funds short all 100 names. QQDN aims for -2x the daily move of the Nasdaq-100's mega-cap core only, tracking an index whose membership refreshes as the giants reshuffle instead of freezing a fixed basket.

Stated mandate

QQDN seeks daily results equal to two times the inverse of the Nasdaq-100 Mega Index's daily performance, before fees and expenses.

Why people hold it

  1. 01Targets the Nasdaq-100's mega-cap core instead of all 100 names, concentrating the short where the parent index's own weight already sits.proshares.com
  2. 02The index follows the mega-cap pecking order as it shifts, so the exposure isn't pinned to a hand-picked, fixed list of yesterday's leaders.proshares.com
  3. 03Runs 1.12% a year, below the median for leveraged and inverse funds, and getting short this way needs no margin account or stock borrow.

Worth knowing

  1. 01The -2x target resets each day. Hold longer and compounding drives the math, so results can diverge from twice the index's inverse move over that stretch.proshares.com
  2. 02Concentration cuts both ways: a handful of mega-caps drive the index, and one company's news reaches you doubled and flipped.proshares.com
  3. 03Launched in 2025 and lightly traded next to long-standing Nasdaq shorts like PSQ, which can mean wider bid-ask spreads.

QQDN Holdings

As of Sep 20, 2026, 6:50 AM
Asset class
Stocks
Holdings
—
Top-10 weight
100%
Largest holding
Net Other Assets (Liabilities)100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Net Other Assets (Liabilities)100.00%1,015,912$1M162

Showing 1–1 of 1 holdings

QQDN Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

QQDN$7,650
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. QQDN $7,650. SPY $11,723. Use the arrow keys to read each point.$7,131$10,552$13,972Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for QQDN. Periods over one year show the average yearly return.
PeriodQQDN
Year to date−21.9%
1 month−7.7%
3 months−16.8%
1 year−23.5%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for QQDN
YearReturn barQQDN
2026 YTD−21.9%
2025−34.1%

History from Jun 12, 2025

QQDN in the news

ETF.net Research hasn’t filed on QQDN yet — coverage lands here as it’s written.

QQDN Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.21 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 4 payments from 2025 to 2026 YTD. Sep 24, 2025 $0.25; Dec 24, 2025 $0.63; Mar 25, 2026 $0.16; Jun 24, 2026 $0.21. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 24, 2026Jun 30, 2026$0.21
Mar 25, 2026Mar 31, 2026$0.16
Dec 24, 2025Dec 31, 2025$0.63
Sep 24, 2025Sep 30, 2025$0.25

QQDN Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
42.7%
Annualised · 14 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.92
vs 3-month T-bills · 14 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−50.2%
15 months · trough May 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−2.84
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

QQDN Cost

Expense ratio1.12%
  • The middle half of Leveraged Inverse (2x & Other) funds
  • Median 1.44%

21 of the 53 Leveraged Inverse (2x & Other) funds charge less.

QQDN costs $112.00 a year on $10,000. The median Leveraged Inverse (2x & Other) fund costs $144.00.