PSQ vs TTXD

PSQBProShares Short QQQ

TTXDDDirexion Daily Technology Top 5 Bear 2X ETF

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.

TTXD Most inverse tech funds short a whole index. TTXD points at five: the largest US information technology stocks, equal weighted, at 200% of their inverse move each day. A scalpel where the shelf mostly stocks blunt instruments.

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.

TTXD The fund seeks daily investment results equal to 200% of the inverse performance of the S&P 500 Information Technology (Sector) Top 5 Equal Capped 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.

• TTXD Unusually precise target. Rather than shorting the Nasdaq or an entire sector basket, it tracks the five biggest US tech names at -2x their daily move, one of the narrowest inverse tools on the leveraged shelf.direxion.com
• Equal weighting keeps the short from becoming a one-stock wager: each of the five Titans carries the same slice, and the roster follows whichever names sit atop the sector.direxion.com
• The adviser's waiver does real work here, cutting a stated 8.36% gross expense ratio to 1.02% net through September 1, 2027.

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.

• TTXD The mandate is a single day. Daily reset plus compounding means multi-day results can drift well away from -2x the index's move over that stretch, especially in choppy tape.sec.gov
• Costlier than the category norm: 1.02% net of a waiver through September 1, 2027, against 0.95% at broad inverse peers like PSQ and DOG (each net of waivers through September 30, 2027).
• Young and small. Launched in 2025, it remains a thinly traded fund, so spreads and order size matter more than with the veteran inverse names. Distributions, when paid, come quarterly.

Full PSQ profile⁠

Full TTXD profile⁠