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QQDN vs QQQD

ProShares UltraShort QQQ Mega

QQDNCNasdaq

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

QQDN0.95%QQQD0.50%

Avg volume · 30D

QQQD 36.8×the volume

QQDN1.85KQQQD68.1K

QQDN vs QQQD Performance

Oct 31, 2025 – Oct 30, 2026

−6.0%QQDN−0.7%QQQD

Oct 31, 2025 to Oct 30, 2026. QQDN −6.0%. QQQD −0.7%. Use the arrow keys to read each point.−20%20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
QQDN 0.95%
QQQD 0.50%, better
Fund size
QQDN $1M
QQQD $28M
1Y total return
QQDN −6.0%
QQQD −0.7%, better
Yield (12M)
QQDN 5.39%, better
QQQD 3.35%
Holdings
QQDN 1
QQQD 3
Avg volume (30D)
QQDN 1.85K sh
QQQD 68.1K sh, better
NAV per share
QQDN $21.83
QQQD $12.18
52W range

ETF.net Grade

QQDN: Cost 50, Risk 49, Mission not scored, Tradability 27, Holdings not scored, Durability 22. QQQD: Cost 50, Risk 67, Mission not scored, Tradability 43, Holdings not scored, Durability 38.
Pillar letters and Scores for QQDN, QQQD, with each pillar’s weight
PillarQQDNQQQD
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightC49B67Higher
Tradability15% weightD27C43Higher
Holdings10% weightNot scoredNot scored
Durability5% weightF22D38Higher

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. QQDN 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 QQDN 32nd 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 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

QQDNCProShares UltraShort QQQ Mega

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

In short

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.

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

QQDN QQDN seeks daily results equal to two times the inverse of the Nasdaq-100 Mega Index's daily performance, 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

  • 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
  • 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

  • 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.
  • 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 QQDN profile⁠

Full QQQD profile⁠

QQDN 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.

QQDN vs QQQD Cost

Overpaying QQDN vs QQQD

$7,890

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

  • QQDN 0.95%

    $17,869

  • QQQD 0.50%

    $9,979

$10,000
30 years

Cost over time

  • QQDN 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$20K051015202530QQDN $17,869QQQD $9,979

Year by year

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

Expense ratio

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

QQQD cheapest of 53 funds

QQDN 6th cheapest of 53 funds

QQDN vs QQQD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QQDN 5.39%, better
QQQD 3.35%
Payout (12M)
QQDN $1.18
QQQD $0.41
Last payment
QQDN $0.18
QQQD $0.10
Ex-dividend
QQDN Sep 23, 2026
QQQD Sep 22, 2026
Paid on
QQDN Sep 29, 2026
QQQD Sep 29, 2026
Frequency
QQDN Quarterly
QQQD Quarterly

Distribution history

Per share, 2024 to 2026, same scale for both

QQDNQuarterly · 5 paymentsAll QQDN payments⁠
One bar per payment. 5 payments from 2024 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$0.502026YTD
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$0.502026YTD

QQDN vs QQQD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
QQDN 41.1%since Jul 2025QQQD 21.1%since Apr 2024
Return per unit of riskSharpe ratio, 3 years
QQDN −0.72since Jul 2025QQQD −1.14since Apr 2024
Worst fallMax drawdown, 5 years
QQDN −51.8%since Jun 2025QQQD −51.4%since Mar 2024
Market sensitivityBeta, 5 years
QQDN −2.78QQQD −1.35

QQDN and QQQD in the news

All news⁠

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