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PSQ vs RXD

ProShares Short QQQ

PSQBNYSE Arca

ProShares UltraShort Health Care

RXDCNYSE Arca

Overlap

Expense ratio

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

PSQ0.95%RXD0.95%

Avg volume · 30D

PSQ 1396.7×the volume

PSQ13MRXD9.3K

10Y return · a year

PSQ +5.1pt

PSQ−18.0%RXD−23.1%

PSQ vs RXD Performance

Oct 29, 2021 – Oct 30, 2026

−42.7%PSQ−45.4%RXD

Oct 29, 2021 to Oct 30, 2026. PSQ −42.7%. RXD −45.4%. Use the arrow keys to read each point.−20%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
PSQ 0.95%
RXD 0.95%
Fund size
PSQ $611M
RXD $3M
1Y total return
PSQ −7.0%, better
RXD −39.8%
Yield (12M)
PSQ 3.90%, better
RXD 3.64%
Holdings
PSQ 4
RXD 1
Avg volume (30D)
PSQ 13M sh, better
RXD 9.3K sh
NAV per share
PSQ $26.64
RXD $12.36
52W range

ETF.net Grade

PSQ: Cost 50, Risk 59, Mission 98, Tradability 98, Holdings 55, Durability 72. RXD: Cost 50, Risk 47, Mission not scored, Tradability 25, Holdings not scored, Durability 45.
Pillar letters and Scores for PSQ, RXD, with each pillar’s weight
PillarPSQRXD
Cost30% weightC50C50
Mission25% weightA98Not scored
Risk15% weightB59HigherC47
Tradability15% weightA98HigherD25
Holdings10% weightB55Not scored
Durability5% weightA72HigherC45

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 RXD 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 3rd and RXD 32nd of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 3BPSQProShares Short QQQScore 64
  4. Rank 4BRWMProShares Short Russell2000Score 63
  5. Rank 32CREWProShares UltraShort TechnologyScore 40
  6. Rank 32CRXDProShares UltraShort Health CareScore 40
  7. Rank 32CSBBProShares Short SmallCap600Score 40

Our read on each fund

ETF.net Research

PSQBProShares Short QQQ

RXDCProShares UltraShort Health Care

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.

RXD A sector-specific short: aims to deliver -2x the daily move of the S&P Health Care Select Sector Index inside a plain ETF wrapper. Trading since 2007, it resets every day, which makes it a short-horizon tool rather than a hold.

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.

RXD The fund seeks daily pre-fee and pre-expense returns equal to negative two times the daily performance of the S&P Health Care Select Sector SM Index.

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.
  • RXD Inverse health care exposure without a margin account or a swap desk: -2x daily on the S&P Health Care Select Sector Index in a 1940 Act fund.proshares.com
  • Fee is 0.95% net of a waiver through September 30, 2027, against a 4.53% gross ratio, and near the median for leveraged and inverse funds.
  • Same 0.95% net sticker as ProShares' broad-index shorts DOG and PSQ, each also net of a waiver through September 30, 2027, so the sector focus costs no extra.
  • Launched January 2007, so this is one of the original leveraged and inverse sector funds, seasoned through many health care policy cycles.

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.
  • RXD The -2x target applies to a single day. Returns compound, so results over longer stretches can differ from twice the inverse of the index move.sec.gov
  • It has stayed small and trades thinly next to broad-index inverse siblings like PSQ and RWM, so bid-ask spreads can run wider.
  • One sector, doubled and flipped: FDA rulings, drug-pricing headlines and a few mega-cap pharma names swing it hard in both directions.

Full PSQ profile⁠

Full RXD profile⁠

PSQ vs RXD 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 RXD 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

  • RXD 0.95%

    $17,869

$10,000
30 years

Cost over time

  • PSQ 0.95%
  • RXD 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 $17,869RXD $17,869

Year by year

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

Expense ratio

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

PSQ 6th cheapest of 53 funds

RXD 6th cheapest of 53 funds

PSQ vs RXD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PSQ 3.90%, better
RXD 3.64%
Payout (12M)
PSQ $1.04
RXD $0.45
Last payment
PSQ $0.26
RXD $0.12
Ex-dividend
PSQ Sep 23, 2026
RXD Sep 23, 2026
Paid on
PSQ Sep 29, 2026
RXD Sep 29, 2026
Frequency
PSQ Quarterly
RXD 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
RXDQuarterly · 24 paymentsAll RXD payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.01; Dec 26, 2018 $0.22; Mar 20, 2019 $0.26; Jun 25, 2019 $0.37; Sep 25, 2019 $0.35; Dec 24, 2019 $0.21; Mar 25, 2020 $0.07; Dec 23, 2021 $0.09; Dec 22, 2022 $0.16; Mar 22, 2023 $0.10; Jun 21, 2023 $0.22; Sep 20, 2023 $0.19; Dec 20, 2023 $0.24; Mar 20, 2024 $0.25; Jun 26, 2024 $0.38; Sep 25, 2024 $0.20; Dec 23, 2024 $0.20; Mar 26, 2025 $0.13; Jun 25, 2025 $0.12; Sep 24, 2025 $0.21; Dec 24, 2025 $0.14; Mar 25, 2026 $0.04; Jun 24, 2026 $0.14; Sep 23, 2026 $0.12. Use the arrow keys to read each point.$0$12017202020232026YTD

PSQ vs RXD Risk

Fall from peak · 5 years

  • PSQ
  • RXD
Oct 29, 2021 to Oct 30, 2026. Worst fall: PSQ −61.5% · Oct 2026. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
PSQ 16.8%, betterRXD 28.9%
Return per unit of riskSharpe ratio, 3 years
PSQ −1.33RXD −0.85, better
Worst fallMax drawdown, 5 years
PSQ −61.5%RXD −56.1%, better
Market sensitivityBeta, 5 years
PSQ −1.18RXD −0.93

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