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ETHD vs QQQD

ProShares UltraShort Ether ETF

ETHDCNYSE Arca

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

ETHD0.95%QQQD0.50%

Avg volume · 30D

ETHD 8.4×the volume

ETHD570KQQQD68.1K

ETHD vs QQQD Performance

Oct 31, 2025 – Oct 30, 2026

+1.5%ETHD−0.7%QQQD

Oct 31, 2025 to Oct 30, 2026. ETHD +1.5%. QQQD −0.7%. Use the arrow keys to read each point.50%100%150%Oct 2025Apr 2026Oct 2026
Expense ratio
ETHD 0.95%
QQQD 0.50%, better
Fund size
ETHD $64M
QQQD $28M
1Y total return
ETHD +1.5%, better
QQQD −0.7%
Yield (12M)
ETHD 18.27%, better
QQQD 3.35%
Holdings
ETHD 1
QQQD 3
Avg volume (30D)
ETHD 570K sh, better
QQQD 68.1K sh
NAV per share
ETHD $34.36
QQQD $12.18
52W range

ETF.net Grade

ETHD: Cost 50, Risk 31, Mission 0, Tradability 59, Holdings not scored, Durability 52. QQQD: Cost 50, Risk 67, Mission not scored, Tradability 43, Holdings not scored, Durability 38.
Pillar letters and Scores for ETHD, QQQD, with each pillar’s weight
PillarETHDQQQD
Cost30% weightC50C50
Mission25% weightF0Not scored
Risk15% weightD31B67Higher
Tradability15% weightB59HigherC43
Holdings10% weightNot scoredNot scored
Durability5% weightC52HigherD38

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. ETHD 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 ETHD 25th 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 24CGLLProShares UltraShort GoldScore 48
  5. Rank 25CETHDProShares UltraShort Ether ETFScore 47
  6. Rank 26CBTCZT-Rex 2X Inverse Bitcoin Daily Target ETFScore 46

Our read on each fund

ETF.net Research

ETHDCProShares UltraShort Ether ETF

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

In short

ETHD The only ETF aiming at -2x the daily move in ether, per ProShares. It gets there with swaps and futures rather than an actual short position, resets every day, and charges 0.95%.

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

ETHD The fund seeks daily results equal to negative two times the daily performance of the Bloomberg Ethereum 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

  • ETHD ProShares bills it as the only -2x ether ETF on the market, and it has been live since 2024, through real crypto swings in both directions.proshares.com
  • It handles the plumbing: futures and swaps inside the fund, rebalanced daily to the -2x target. No margin account, no borrow, and the fund never shorts ether itself.proshares.comsec.gov
  • Fee is 0.95%, no waiver propping it up, near what leveraged and inverse funds typically charge. Same-index sibling SETH (-1x) also sits at 0.95% net, but net of a waiver through September 30, 2027.
  • 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

  • ETHD Daily reset. Hold longer than a day and compounding takes over: results can differ a lot from -2x the index move, especially in choppy markets.proshares.com
  • ProShares says these funds should be monitored daily. Two times the inverse of a crypto price is a fast-moving position, not a set-and-forget one.proshares.com
  • Exposure runs through derivatives and counterparties, including swaps that can reference spot ether ETFs, rather than a direct short in ether.proshares.com
  • 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 ETHD profile⁠

Full QQQD profile⁠

ETHD 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.

ETHD vs QQQD Cost

Overpaying ETHD vs QQQD

$7,890

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

  • ETHD 0.95%

    $17,869

  • QQQD 0.50%

    $9,979

$10,000
30 years

Cost over time

  • ETHD 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$20K051015202530ETHD $17,869QQQD $9,979

Year by year

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

Expense ratio

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

QQQD cheapest of 53 funds

ETHD 6th cheapest of 53 funds

ETHD vs QQQD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ETHD 18.27%, better
QQQD 3.35%
Payout (12M)
ETHD $6.28
QQQD $0.41
Last payment
ETHD $0.19
QQQD $0.10
Ex-dividend
ETHD Oct 1, 2026
QQQD Sep 22, 2026
Paid on
ETHD Oct 7, 2026
QQQD Sep 29, 2026
Frequency
ETHD Monthly
QQQD Quarterly

Distribution history

Per share, 2024 to 2026, same scale for both

ETHDMonthly · 20 paymentsAll ETHD payments⁠
One bar per payment. 20 payments from 2024 to 2026 YTD. Jul 1, 2024 $1.56; Aug 1, 2024 $6.80; Sep 3, 2024 $20.05; Nov 1, 2024 $8.72; Dec 2, 2024 $3.70; Apr 1, 2025 $27.32; Jun 2, 2025 $2.88; Sep 2, 2025 $0.01; Oct 1, 2025 $0.04; Nov 3, 2025 $0.04; Dec 24, 2025 $0.0071; Feb 2, 2026 $0.15; Mar 2, 2026 $1.51; Apr 1, 2026 $0.0082; May 1, 2026 $0.02; Jun 1, 2026 $0.03; Jul 1, 2026 $1.71; Aug 3, 2026 $1.74; Sep 1, 2026 $0.86; Oct 1, 2026 $0.19. Use the arrow keys to read each point.$0$252026YTD
QQQDQuarterly · 10 paymentsAll QQQD payments⁠
One bar per payment. 10 payments from 2024 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$252026YTD

ETHD vs QQQD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ETHD 130.0%since Jul 2024QQQD 21.1%since Apr 2024
Return per unit of riskSharpe ratio, 3 years
ETHD −0.10since Jul 2024QQQD −1.14since Apr 2024
Worst fallMax drawdown, 5 years
ETHD −96.5%since Jun 2024QQQD −51.4%since Mar 2024
Market sensitivityBeta, 5 years
ETHD −3.93QQQD −1.35

ETHD and QQQD in the news

All news⁠

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