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BIS vs QQQD

ProShares UltraShort Nasdaq Biotechnology

BISDNasdaq

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

BIS0.95%QQQD0.50%

Avg volume · 30D

QQQD 7.8×the volume

BIS8.68KQQQD68.1K

BIS vs QQQD Performance

Oct 31, 2025 – Oct 30, 2026

−49.7%BIS−0.7%QQQD

Oct 31, 2025 to Oct 30, 2026. BIS −49.7%. QQQD −0.7%. Use the arrow keys to read each point.−40%−20%20%Oct 2025Apr 2026Oct 2026
Expense ratio
BIS 0.95%
QQQD 0.50%, better
Fund size
BIS $2M
QQQD $28M
1Y total return
BIS −49.7%
QQQD −0.7%, better
Yield (12M)
BIS 5.90%, better
QQQD 3.35%
Holdings
BIS 1
QQQD 3
Avg volume (30D)
BIS 8.68K sh
QQQD 68.1K sh, better
NAV per share
BIS $10.47
QQQD $12.18
52W range

ETF.net Grade

BIS: Cost 50, Risk 22, Mission not scored, Tradability 36, Holdings not scored, Durability 39. QQQD: Cost 50, Risk 67, Mission not scored, Tradability 43, Holdings not scored, Durability 38.
Pillar letters and Scores for BIS, QQQD, with each pillar’s weight
PillarBISQQQD
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightF22B67Higher
Tradability15% weightD36C43Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD39HigherD38

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BIS and QQQD are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

QQQD ranks 21st and BIS 49th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 21CEFZProShares Short MSCI EAFEScore 51
  2. Rank 21CQQQDDirexion Daily Magnificent 7 Bear 1X ETFScore 51
  3. Rank 23CZSLProShares UltraShort SilverScore 50
  4. Rank 32CYXIProShares Short FTSE China 50Score 40
  5. Rank 49DBISProShares UltraShort Nasdaq BiotechnologyScore 39
  6. Rank 50DSDDProShares UltraShort SmallCap600Score 38

Our read on each fund

ETF.net Research

BISDProShares UltraShort Nasdaq Biotechnology

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

In short

BIS The only -2x bet against biotech: BIS aims to deliver twice the inverse of the Nasdaq Biotechnology Index's daily move, then resets the clock every night. A gentler dial than the -3x biotech bear funds, and designed for single-day exposure.

QQQD Fading the Magnificent 7 without a leverage multiplier: QQQD aims for -100% of the Indxx Magnificent 7 Index's daily move, one-for-one, at 0.50% net of a waiver through September 1, 2027.

Stated mandate

BIS The fund seeks daily results, before fees and expenses, equal to approximately negative two times the daily performance of the Nasdaq Biotechnology Index. It is not designed to achieve that target over periods longer than one day.

QQQD The fund seeks daily investment results equal to 100% of the inverse performance of the Indxx Magnificent 7 Index, before fees and expenses.

Why people hold it

  • BIS ProShares calls it the only -2x ETF built to move against daily declines in biotech. Where rivals jump straight to -3x, this is the half-step.proshares.com
  • 0.95% net of a waiver through September 30, 2027, near the category median and the same net fee as ProShares stablemates PSQ, DOG and RWM (also waived to that date).
  • Tracks the Nasdaq Biotechnology Index, the cap-weighted Nasdaq-listed biotech and pharma benchmark, rather than the equal-weight small-cap index behind Direxion's -3x biotech pair.proshares.comdirexion.com
  • Live since April 2010, so it has traded through multiple biotech boom-and-bust cycles under the same daily-reset mechanics.
  • QQQD One-for-one inverse, not 2x or 3x. A 1% index gain is designed to show up as roughly a 1% fund loss that day, and the reverse on down days, with no leverage stacked on top.direxion.com
  • 0.50% net of a waiver through September 1, 2027, below the category median and below the 0.95% at PSQ and DOG (net of waivers through September 30, 2027).
  • Surgical target: the short exposure is to the Magnificent 7 basket itself, not a broad Nasdaq index where those seven names get diluted by dozens of others.direxion.com
  • Despite launching in 2024, it stands in the upper half of a crowded bear and inverse peer group.

Worth knowing

  • BIS The prospectus is blunt: it targets -2x for one day and is not designed to hit that over longer periods. Compounding means multi-day results depend on the path.proshares.com
  • Gross expenses run 3.91%; the 0.95% you pay rests on a waiver scheduled through September 30, 2027.
  • One of the smaller, more thinly traded funds in the leveraged-bear group, so spreads can be wider than on headline names like PSQ.
  • QQQD Exposure resets every day. Hold longer than a day and compounding means the result can drift from the simple inverse of the index's move over that stretch.direxion.com
  • Seven mega-caps drive everything. One earnings surprise or one AI headline can move the whole basket, with no other holdings to soften it.direxion.com
  • That 0.50% is a net figure. Gross expenses run 1.08%, so the cost picture shifts if the waiver is not extended past September 1, 2027.

Full BIS profile⁠

Full QQQD profile⁠

BIS vs QQQD Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BIS vs QQQD Cost

Overpaying BIS vs QQQD

$7,890

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BIS 0.95%

    $17,869

  • QQQD 0.50%

    $9,979

$10,000
30 years

Cost over time

  • BIS 0.95%
  • QQQD 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BIS $17,869QQQD $9,979

Year by year

YearBISQQQDOverpaying
10$1,678$900$778
20$6,322$3,460$2,862
30$17,869$9,979$7,890

Expense ratio

  • 0.95%BIS
  • 0.50%QQQD, cheaper
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

QQQD cheapest of 53 funds

BIS 6th cheapest of 53 funds

BIS vs QQQD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BIS 5.90%, better
QQQD 3.35%
Payout (12M)
BIS $0.62
QQQD $0.41
Last payment
BIS $0.14
QQQD $0.10
Ex-dividend
BIS Sep 23, 2026
QQQD Sep 22, 2026
Paid on
BIS Sep 29, 2026
QQQD Sep 29, 2026
Frequency
BIS Quarterly
QQQD Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

BISQuarterly · 14 paymentsAll BIS payments⁠
One bar per payment. 14 payments from 2023 to 2026 YTD. Jun 21, 2023 $0.04; Sep 20, 2023 $0.24; Dec 20, 2023 $0.35; Mar 20, 2024 $0.32; Jun 26, 2024 $0.32; Sep 25, 2024 $0.30; Dec 23, 2024 $0.41; Mar 26, 2025 $0.27; Jun 25, 2025 $0.22; Sep 24, 2025 $0.31; Dec 24, 2025 $0.21; Mar 25, 2026 $0.14; Jun 24, 2026 $0.14; Sep 23, 2026 $0.14. Use the arrow keys to read each point.$0$0.2520232026YTD
QQQDQuarterly · 10 paymentsAll QQQD payments⁠
One bar per payment. 10 payments from 2023 to 2026 YTD. Jun 25, 2024 $0.32; Sep 24, 2024 $0.41; Dec 23, 2024 $0.15; Mar 25, 2025 $0.13; Jun 24, 2025 $0.20; Sep 23, 2025 $0.08; Dec 23, 2025 $0.15; Mar 24, 2026 $0.08; Jun 23, 2026 $0.09; Sep 22, 2026 $0.10. Use the arrow keys to read each point.$0$0.2520232026YTD

BIS vs QQQD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BIS 31.5%QQQD 21.1%since Apr 2024
Return per unit of riskSharpe ratio, 3 years
BIS −1.52QQQD −1.14since Apr 2024
Worst fallMax drawdown, 5 years
BIS −83.2%QQQD −51.4%since Mar 2024
Market sensitivityBeta, 5 years
BIS −1.17QQQD −1.35

BIS and QQQD in the news

All news⁠

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