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QQDN vs SVXY

ProShares UltraShort QQQ Mega

QQDNCNasdaq

ProShares Short VIX Short-Term Futures ETF

SVXYBCboe

Overlap

Expense ratio

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

QQDN0.95%SVXY0.95%

Avg volume · 30D

SVXY 803.7×the volume

QQDN1.85KSVXY1.49M

QQDN vs SVXY Performance

Oct 31, 2025 – Nov 2, 2026

−4.1%QQDN+21.8%SVXY

Oct 31, 2025 to Nov 2, 2026. QQDN −4.1%. SVXY +21.8%. Use the arrow keys to read each point.−20%10%30%40%Oct 2025May 2026Nov 2026
Expense ratio
QQDN 0.95%
SVXY 0.95%
Fund size
QQDN $1M
SVXY $201M
1Y total return
QQDN −4.1%
SVXY +21.8%, better
Yield (12M)
QQDN 5.29%
SVXY No data
Holdings
QQDN 1
SVXY 1
Avg volume (30D)
QQDN 1.85K sh
SVXY 1.49M sh, better
NAV per share
QQDN $21.83
SVXY $60.51
52W range

ETF.net Grade

QQDN: Cost 50, Risk 49, Mission not scored, Tradability 27, Holdings not scored, Durability 22. SVXY: Cost 50, Risk 75, Mission not scored, Tradability 84, Holdings not scored, Durability 76.
Pillar letters and Scores for QQDN, SVXY, with each pillar’s weight
PillarQQDNSVXY
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightC49A75Higher
Tradability15% weightD27A84Higher
Holdings10% weightNot scoredNot scored
Durability5% weightF22A76Higher

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 SVXY 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 ›

SVXY 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 4BRWMProShares Short Russell2000Score 63
  5. Rank 32CMZZProShares UltraShort MidCap400Score 40
  6. Rank 32CQQDNProShares UltraShort QQQ MegaScore 40
  7. Rank 32CREWProShares UltraShort TechnologyScore 40

Our read on each fund

ETF.net Research

QQDNCProShares UltraShort QQQ Mega

SVXYBProShares Short VIX Short-Term Futures 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.

SVXY Short volatility, half dose. SVXY targets one-half the inverse of a VIX short-term futures index each day, a deliberately de-tuned take on the short-vol trade, and it has run that mandate since 2011.

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.

SVXY SVXY seeks daily results equal to one-half the inverse of the S&P 500 VIX Short-Term Futures Index. Its objective is measured daily, so returns over longer periods can differ from the stated daily target.

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
  • SVXY The half-strength design is the whole idea: a -0.5x daily target rather than full inverse, so a jump in VIX futures lands with half the force of a one-for-one short.proshares.com
  • 0.95% a year sits below the typical leveraged and inverse fund, and among that crowd this is one of the stronger implementations in its peer group.
  • Launched in 2011 and actively traded, so it has a long operating history and a working market for getting in and out.

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.
  • SVXY The objective resets daily. Hold longer and compounding takes over, so results over weeks or months can look nothing like half the inverse of the index.proshares.com
  • It is a commodity pool holding VIX futures, not a basket of stocks. Reporting and tax treatment follow different rules than a standard equity ETF.proshares.com
  • Pure price vehicle with no distribution stream, and volatility spikes arrive fast, which is exactly what a short-vol position is on the wrong side of.

Full QQDN profile⁠

Full SVXY profile⁠

QQDN vs SVXY 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 SVXY Cost

Same expense ratio

$17,869

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

  • QQDN 0.95%

    $17,869

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QQDN 0.95%
  • SVXY 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530QQDN $17,869SVXY $17,869

Year by year

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

Expense ratio

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

QQDN 6th cheapest of 53 funds

SVXY 6th cheapest of 53 funds

QQDN vs SVXY Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
QQDN 5.29%
SVXY No data
Payout (12M)
QQDN $1.18
SVXY None
Last payment
QQDN $0.18
SVXY No data
Ex-dividend
QQDN Sep 23, 2026
SVXY No data
Paid on
QQDN Sep 29, 2026
SVXY No data
Frequency
QQDN Quarterly
SVXY No data

Distribution history

Per share, 2025 to 2026, same scale for both

QQDNQuarterly · 5 paymentsAll QQDN payments⁠
One bar per payment. 5 payments from 2025 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
SVXYAll SVXY payments⁠

No distribution history available.

QQDN vs SVXY 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 2025SVXY 26.5%
Return per unit of riskSharpe ratio, 3 years
QQDN −0.72since Jul 2025SVXY 0.42
Worst fallMax drawdown, 5 years
QQDN −51.8%since Jun 2025SVXY −46.4%
Market sensitivityBeta, 5 years
QQDN −2.78SVXY 1.32

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