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PSQ vs QQDN

ProShares Short QQQ

PSQBNYSE Arca

ProShares UltraShort QQQ Mega

QQDNCNasdaq

Overlap

0.0%by weight

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

PSQ0.95%QQDN0.95%

Avg volume · 30D

PSQ 7006.9×the volume

PSQ13MQQDN1.85K

PSQ vs QQDN Performance

Oct 31, 2025 – Nov 2, 2026

−5.7%PSQ−4.1%QQDN

Oct 31, 2025 to Nov 2, 2026. PSQ −5.7%. QQDN −4.1%. Use the arrow keys to read each point.−20%10%20%30%40%Oct 2025May 2026Nov 2026
Expense ratio
PSQ 0.95%
QQDN 0.95%
Fund size
PSQ $611M
QQDN $1M
1Y total return
PSQ −5.7%
QQDN −4.1%, better
Yield (12M)
PSQ 3.85%
QQDN 5.29%, better
Holdings
PSQ 4
QQDN 1
Avg volume (30D)
PSQ 13M sh, better
QQDN 1.85K sh
NAV per share
PSQ $26.64
QQDN $21.83
52W range

ETF.net Grade

PSQ: Cost 50, Risk 60, Mission 98, Tradability 98, Holdings 55, Durability 72. QQDN: Cost 50, Risk 49, Mission not scored, Tradability 27, Holdings not scored, Durability 22.
Pillar letters and Scores for PSQ, QQDN, with each pillar’s weight
PillarPSQQQDN
Cost30% weightC50C50
Mission25% weightA98Not scored
Risk15% weightB60HigherC49
Tradability15% weightA98HigherD27
Holdings10% weightB55Not scored
Durability5% weightA72HigherF22

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. PSQ and QQDN 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 ›

PSQ ranks 1st and QQDN 32nd of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BPSQProShares Short QQQScore 65
  3. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  4. Rank 32CMZZProShares UltraShort MidCap400Score 40
  5. Rank 32CQQDNProShares UltraShort QQQ MegaScore 40
  6. Rank 32CREWProShares UltraShort TechnologyScore 40

Our read on each fund

ETF.net Research

PSQBProShares Short QQQ

QQDNCProShares UltraShort QQQ Mega

In short

PSQ The plain short on the Nasdaq-100: PSQ aims for -1x the index's daily move, with no leverage multiplier bolted on. It has been running since 2006, making it one of the original one-for-one bear tools.

QQDN The only ETF aiming at -2x the daily move of the Nasdaq-100 Mega Index, the top slice of the Nasdaq-100 by weight. A short on today's mega-cap leaders, not a fixed Mag 7 list. 0.95% net of a waiver through September 30, 2027.

Stated mandate

PSQ The fund is designed to provide -1x exposure to the Nasdaq-100 Index's daily price movement, seeking to benefit when that index declines.

QQDN 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

  • PSQ ProShares bills it as the only -1x ETF built to profit when the Nasdaq-100's daily price falls. Sibling QID doubles the dose at -2x; PSQ stays one-for-one.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (0.96% gross), near the category median and the same net fee as -2x QID, also waived through September 30, 2027.
  • Among the most actively traded funds in the bear category, and one of the closest to its stated daily target in a peer group of 50-plus funds.
  • QQDN Targets -2x the daily move of an index built from the top 45% cumulative weight of the Nasdaq-100, so the bearish bet rides on the handful of names driving the index.nasdaq.com
  • Membership is dynamic: the index rebuilds around whichever Nasdaq-100 giants carry the weight, rather than locking in a fixed Mag 7 or FAANG roster.nasdaq.comproshares.com
  • 0.95% net of a waiver through September 30, 2027, near the category median and level with ProShares' long-running shorts PSQ and DOG (also 0.95% net, waivers to the same date).
  • Swaps do the work, so short exposure arrives in a regular brokerage account: no margin agreement, no borrowing shares, no buy-in risk.proshares.com

Worth knowing

  • PSQ The -1x goal resets daily. Over weeks or months, compounding means results can differ from -1x the index's move across that stretch, especially in choppy markets.sec.gov
  • Cheap for this corner of the market, pricey next to a broad index fund. The fee accrues every day you hold it, hedge or trade.
  • It cuts one way: when the Nasdaq-100 rises on the day, PSQ is designed to fall roughly in step.
  • QQDN The -2x target applies to a single day. Hold longer and results depend on the path the index takes; choppy markets can pull returns well away from -2x the period move.proshares.com
  • The 0.95% is net of a waiver through September 30, 2027. Gross expenses run 3.06%, so the headline fee depends on ProShares keeping that waiver in place.
  • A small fund that trades thinly, which can mean wider bid-ask spreads than ProShares' long-established short ETFs and more cost in getting in and out.

Full PSQ profile⁠

Full QQDN profile⁠

PSQ vs QQDN Holdings

How PSQ and QQDN differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of PSQ and 0.0% of QQDN.

Level by level

  • Holdings0 in both0.0%
  • Asset classEquity100%

Sector

No Sector split for QQDN.

Country, concentration and asset class

Country by domicile

No country split for QQDN.

Concentration

Weight in the 10 largest Holdings

  • PSQ115.2%
  • QQDN100.0%

Securities held

  • PSQ4
  • QQDN0

Asset class

PSQ
Equity
QQDN
Equity

Holdings

  • Only in PSQ4
  • In both0
  • Only in QQDN0

Only in PSQ

4 securities, 100% of PSQ by weight

  • Proshares Genius Mny Mkt Etf74.06%
  • TREASURY BILL, 0%, due 2026-12-1017.97%
  • TREASURY BILL, 0%, due 2026-12-2917.93%

Only in QQDN

0 securities, 0.0% of QQDN by weight

Weight gaps

PSQ and QQDN share no securities.

All 17 PSQ holdings⁠All QQDN 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.

PSQ vs QQDN Cost

Same expense ratio

$17,869

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

  • PSQ 0.95%

    $17,869

  • QQDN 0.95%

    $17,869

$10,000
30 years

Cost over time

  • PSQ 0.95%
  • QQDN 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530PSQ $17,869QQDN $17,869

Year by year

YearPSQQQDN
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%PSQ
  • 0.95%QQDN
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

PSQ 6th cheapest of 53 funds

QQDN 6th cheapest of 53 funds

PSQ vs QQDN Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
PSQ 3.85%
QQDN 5.29%, better
Payout (12M)
PSQ $1.04
QQDN $1.18
Last payment
PSQ $0.26
QQDN $0.18
Ex-dividend
PSQ Sep 23, 2026
QQDN Sep 23, 2026
Paid on
PSQ Sep 29, 2026
QQDN Sep 29, 2026
Frequency
PSQ Quarterly
QQDN Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

PSQQuarterly · 26 paymentsAll PSQ payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.03; Mar 21, 2018 $0.20; Jun 20, 2018 $0.39; Sep 26, 2018 $0.51; Dec 26, 2018 $0.53; Mar 20, 2019 $0.51; Jun 25, 2019 $0.66; Sep 25, 2019 $0.57; Dec 24, 2019 $0.41; Mar 25, 2020 $0.22; Dec 22, 2022 $0.25; Mar 22, 2023 $0.46; Jun 21, 2023 $0.72; Sep 20, 2023 $0.72; Dec 20, 2023 $0.95; Mar 20, 2024 $0.54; Jun 26, 2024 $0.76; Sep 25, 2024 $0.68; Dec 23, 2024 $0.70; Mar 26, 2025 $0.34; Jun 25, 2025 $0.40; Sep 24, 2025 $0.36; Dec 24, 2025 $0.40; Mar 25, 2026 $0.15; Jun 24, 2026 $0.23; Sep 23, 2026 $0.26. Use the arrow keys to read each point.$0$12017202020232026YTD
QQDNQuarterly · 5 paymentsAll QQDN payments⁠
One bar per payment. 5 payments from 2017 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.$0$12017202020232026YTD

PSQ vs QQDN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PSQ 16.8%QQDN 41.1%since Jul 2025
Return per unit of riskSharpe ratio, 3 years
PSQ −1.33QQDN −0.72since Jul 2025
Worst fallMax drawdown, 5 years
PSQ −61.5%QQDN −51.8%since Jun 2025
Market sensitivityBeta, 5 years
PSQ −1.18QQDN −2.78

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