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Launched

ProShares - UltraShort QQQ Mega

QQDNNasdaqCThis 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.

$18.97−0.08 (−0.41%)

At close: Oct 13, 2026, 4:00 PM

C40/ 100

Rank 31 of 54 in Leveraged Inverse (2x & Other)

C40/100Rank 31 of 54inLeveraged Inverse (2x & Other)
Intraday session: down, 6 prints from 19.05 to 18.97. Range 18.82 to 19.01. Use the arrow keys to read each point.18.8518.9019.0010 AM12 PM2 PM4 PM
Expense ratio
1.12%
Fund size
$1M
1Y total return
−30.0%
Yield · Last 12 months
6.16%
Holdings
1
Avg volume · 30D
0M sh
NAV per share
$19.07
52W range
low $18.74high $35.03
Launched

The ETF.net QQDN Grade

Based on 4 of 6 pillars

C

Score 40 out of 100

Category
Leveraged Inverse (2x & Other)⁠
Rank
31 of 54
Six-pillar profile for QQDN. Scores out of 100: Cost 58, Risk 38, Mission not scored, Tradability 30, Holdings not scored, Durability 21. Strongest: Cost (58). Weakest: Durability (21). Based on 4 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
44
This cap took
−4
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B58 out of 100
    Rank 23 of 54

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D38 out of 100
    Rank 36 of 53

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D30 out of 100
    Rank 43 of 54

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F21 out of 100
    Rank 52 of 54

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 Oct 13, 2026
Asset class
Stocks
Holdings
1
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%953,657$954K163

Showing 1–1 of 1 holdings

QQDN Performance

Launched Jun 10, 2025

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

Not enough history yet.Not enough history yet.Not enough history yet.
QQDN$7,004
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. QQDN $7,004. SPY $12,044. Use the arrow keys to read each point.$6,425$9,757$13,089Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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−23.6%
1 month−6.6%
3 months−13.2%
1 year−30.0%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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−23.6%
2025−34.1%

History from Jun 12, 2025

QQDN in the news

Filtered to QQDN · Leveraged Inverse (2x & Other)

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 Oct 12, 2026.
6.16%Last 12 months
Payout per share
$1.18Last 12 months
Last payment
$0.18 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2025–2026

One bar per payment. 5 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; Sep 23, 2026 $0.18. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.18
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.
41.2%
Annualised · 15 months to Sep 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.
−0.94
vs 3-month T-bills · 15 months to Sep 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.
−51.8%
16 months · trough Oct 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.
−2.78
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.

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