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EFZ vs QQQD

ProShares Short MSCI EAFE

EFZCNYSE Arca

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

EFZ0.95%QQQD0.50%

Avg volume · 30D

QQQD 8.4×the volume

EFZ8.11KQQQD68.1K

EFZ vs QQQD Performance

Oct 31, 2025 – Oct 30, 2026

−8.7%EFZ−0.7%QQQD

Oct 31, 2025 to Oct 30, 2026. EFZ −8.7%. QQQD −0.7%. Use the arrow keys to read each point.10%20%Oct 2025Apr 2026Oct 2026
Expense ratio
EFZ 0.95%
QQQD 0.50%, better
Fund size
EFZ $10M
QQQD $28M
1Y total return
EFZ −8.7%
QQQD −0.7%, better
Yield (12M)
EFZ 3.67%, better
QQQD 3.35%
Holdings
EFZ 2
QQQD 3
Avg volume (30D)
EFZ 8.11K sh
QQQD 68.1K sh, better
NAV per share
EFZ $23.21
QQQD $12.18
52W range

ETF.net Grade

EFZ: Cost 50, Risk 63, Mission not scored, Tradability 44, Holdings 46, Durability 54. QQQD: Cost 50, Risk 67, Mission not scored, Tradability 43, Holdings not scored, Durability 38.
Pillar letters and Scores for EFZ, QQQD, with each pillar’s weight
PillarEFZQQQD
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB63B67Higher
Tradability15% weightC44HigherC43
Holdings10% weightC46Not scored
Durability5% weightC54HigherD38

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. EFZ 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 ›

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

  1. Rank 17CTWMProShares UltraShort Russell2000Score 52
  2. Rank 21CEFZProShares Short MSCI EAFEScore 51
  3. Rank 21CQQQDDirexion Daily Magnificent 7 Bear 1X ETFScore 51
  4. Rank 23CZSLProShares UltraShort SilverScore 50

Our read on each fund

ETF.net Research

EFZCProShares Short MSCI EAFE

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

In short

EFZ Most inverse ETFs aim at the S&P or the Nasdaq. EFZ aims overseas: a straight -1x of the MSCI EAFE Index's daily move, no leverage stacked on top, running since 2007.

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

EFZ EFZ seeks daily investment results corresponding to the inverse (-1x) of the daily performance of the MSCI EAFE Index, before fees and expenses.

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

  • EFZ A one-day inverse on developed markets outside the US and Canada: Europe, Japan, Australasia. The trade rides their session, not America's.proshares.com
  • Straight -1x, no gearing stacked on top, so the daily-reset drift that hits -2x and -3x funds is much milder here.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.70% gross), near the category norm and matching the net fee on DOG, PSQ and RWM, each waived to the same date.
  • Trading since 2007, through the crisis and every scare since, and it stands in the upper half of its inverse peer group.
  • 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

  • EFZ The objective resets every day. Over longer holds the result depends on the index's path, not just its net move.
  • EAFE markets close hours before the US bell, and ProShares notes the index isn't priced at the US close, so a day's move can look out of sync.proshares.com
  • One of the lighter-traded corners of the inverse lineup, so spreads and limit orders matter more than with the big US index shorts.
  • 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 EFZ profile⁠

Full QQQD profile⁠

EFZ 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.

EFZ vs QQQD Cost

Overpaying EFZ vs QQQD

$7,890

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

  • EFZ 0.95%

    $17,869

  • QQQD 0.50%

    $9,979

$10,000
30 years

Cost over time

  • EFZ 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$20K051015202530EFZ $17,869QQQD $9,979

Year by year

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

Expense ratio

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

QQQD cheapest of 53 funds

EFZ 6th cheapest of 53 funds

EFZ vs QQQD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EFZ 3.67%, better
QQQD 3.35%
Payout (12M)
EFZ $0.85
QQQD $0.41
Last payment
EFZ $0.23
QQQD $0.10
Ex-dividend
EFZ Sep 23, 2026
QQQD Sep 22, 2026
Paid on
EFZ Sep 29, 2026
QQQD Sep 29, 2026
Frequency
EFZ Quarterly
QQQD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EFZQuarterly · 23 paymentsAll EFZ payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.05; Dec 26, 2018 $0.15; Mar 20, 2019 $0.17; Jun 25, 2019 $0.19; Sep 25, 2019 $0.18; Dec 24, 2019 $0.22; Mar 25, 2020 $0.02; Dec 22, 2022 $0.23; Mar 22, 2023 $0.24; Jun 21, 2023 $0.37; Sep 20, 2023 $0.43; Dec 20, 2023 $0.56; Mar 20, 2024 $0.27; Jun 26, 2024 $0.47; Sep 25, 2024 $0.63; Dec 23, 2024 $0.40; Mar 26, 2025 $0.26; Jun 25, 2025 $0.30; Sep 24, 2025 $0.30; Dec 24, 2025 $0.30; Mar 25, 2026 $0.06; Jun 24, 2026 $0.26; Sep 23, 2026 $0.23. Use the arrow keys to read each point.$0$0.502017202020232026YTD
QQQDQuarterly · 10 paymentsAll QQQD payments⁠
One bar per payment. 10 payments from 2017 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$0.502017202020232026YTD

EFZ vs QQQD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
EFZ 11.8%QQQD 21.1%since Apr 2024
Return per unit of riskSharpe ratio, 3 years
EFZ −1.42QQQD −1.14since Apr 2024
Worst fallMax drawdown, 5 years
EFZ −45.6%QQQD −51.4%since Mar 2024
Market sensitivityBeta, 5 years
EFZ −0.62QQQD −1.35

EFZ and QQQD in the news

All news⁠

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