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QQQD vs RWM

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

ProShares Short Russell2000

RWMBNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

QQQD0.50%RWM0.95%

Avg volume · 30D

RWM 440.7×the volume

QQQD68.1KRWM30M

QQQD vs RWM Performance

Oct 31, 2025 – Oct 30, 2026

−0.7%QQQD−10.2%RWM

Oct 31, 2025 to Oct 30, 2026. QQQD −0.7%. RWM −10.2%. Use the arrow keys to read each point.−20%10%20%Oct 2025May 2026Oct 2026
Expense ratio
QQQD 0.50%, better
RWM 0.95%
Fund size
QQQD $28M
RWM $163M
1Y total return
QQQD −0.7%, better
RWM −10.2%
Yield (12M)
QQQD 3.35%, better
RWM 3.32%
Holdings
QQQD 3
RWM 3
Avg volume (30D)
QQQD 68.1K sh
RWM 30M sh, better
NAV per share
QQQD $12.18
RWM $14.37
52W range

ETF.net Grade

QQQD: Cost 50, Risk 67, Mission not scored, Tradability 43, Holdings not scored, Durability 38. RWM: Cost 50, Risk 61, Mission not scored, Tradability 90, Holdings 63, Durability 69.
Pillar letters and Scores for QQQD, RWM, with each pillar’s weight
PillarQQQDRWM
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB67HigherB61
Tradability15% weightC43A90Higher
Holdings10% weightNot scoredB63
Durability5% weightD38B69Higher

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. QQQD and RWM 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 ›

RWM ranks 4th and QQQD 21st 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 5BSJBProShares Short High YieldScore 62
  6. Rank 21CEFZProShares Short MSCI EAFEScore 51
  7. Rank 21CQQQDDirexion Daily Magnificent 7 Bear 1X ETFScore 51
  8. Rank 23CZSLProShares UltraShort SilverScore 50

Our read on each fund

ETF.net Research

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

RWMBProShares Short Russell2000

In short

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.

RWM Short small caps at one speed: RWM targets the inverse of the Russell 2000's daily move, with no 2x or 3x multiplier on top. Trading since 2007, at 0.95% net of a waiver through September 30, 2027.

Stated mandate

QQQD The fund seeks daily investment results equal to 100% of the inverse performance of the Indxx Magnificent 7 Index, before fees and expenses.

RWM The fund seeks daily investment results, before fees and expenses, that correspond to the inverse of the Russell 2000 Index's daily performance.

Why people hold it

  • 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.
  • RWM Straight -1x, not a multiplier: it tracks the inverse of the Russell 2000's daily move, where stablemate TWM targets -2x on the same index.proshares.com
  • ProShares calls it the only -1x ETF tied to the Russell 2000, the index of the 2,000 smallest US names in the Russell 3000.proshares.comproshares.com 2
  • Trading since January 2007 and one of the busier funds in the inverse-equity aisle, so entering and exiting is rarely the hard part.
  • Fee is 0.95% net of a waiver through September 30, 2027 (1.05% gross), near what this category charges, and it rates among the strongest builds in its peer group.

Worth knowing

  • 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.
  • RWM The -1x target resets daily. Hold longer and compounding rules: ProShares says multi-day returns can differ significantly from the target, in amount and even direction.proshares.comproshares.com 2
  • Symmetric by design: on days the Russell 2000 climbs, the fund is built to lose roughly as much as the index gains.proshares.com
  • Fund documents tell investors to monitor holdings as frequently as daily, which puts this at the hands-on end of the shelf.proshares.com

Full QQQD profile⁠

Full RWM profile⁠

QQQD vs RWM 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.

QQQD vs RWM Cost

Overpaying RWM vs QQQD

$7,890

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

  • QQQD 0.50%

    $9,979

  • RWM 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QQQD 0.50%
  • RWM 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530RWM $17,869QQQD $9,979

Year by year

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

Expense ratio

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

QQQD cheapest of 53 funds

RWM 6th cheapest of 53 funds

QQQD vs RWM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QQQD 3.35%, better
RWM 3.32%
Payout (12M)
QQQD $0.41
RWM $0.48
Last payment
QQQD $0.10
RWM $0.09
Ex-dividend
QQQD Sep 22, 2026
RWM Sep 23, 2026
Paid on
QQQD Sep 29, 2026
RWM Sep 29, 2026
Frequency
QQQD Quarterly
RWM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QQQDQuarterly · 10 paymentsAll QQQD payments⁠
One bar per payment. 10 payments from 2017 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$0.252017202020232026YTD
RWMQuarterly · 26 paymentsAll RWM payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.03; Mar 21, 2018 $0.04; Jun 20, 2018 $0.10; Sep 26, 2018 $0.14; Dec 26, 2018 $0.13; Mar 20, 2019 $0.11; Jun 25, 2019 $0.18; Sep 25, 2019 $0.15; Dec 24, 2019 $0.14; Mar 25, 2020 $0.05; Dec 22, 2022 $0.10; Mar 22, 2023 $0.15; Jun 21, 2023 $0.24; Sep 20, 2023 $0.27; Dec 20, 2023 $0.35; Mar 20, 2024 $0.26; Jun 26, 2024 $0.29; Sep 25, 2024 $0.28; Dec 23, 2024 $0.30; Mar 26, 2025 $0.14; Jun 25, 2025 $0.20; Sep 24, 2025 $0.13; Dec 24, 2025 $0.18; Mar 25, 2026 $0.06; Jun 24, 2026 $0.14; Sep 23, 2026 $0.09. Use the arrow keys to read each point.$0$0.252017202020232026YTD

QQQD vs RWM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
QQQD 21.1%since Apr 2024RWM 18.4%
Return per unit of riskSharpe ratio, 3 years
QQQD −1.14since Apr 2024RWM −0.99
Worst fallMax drawdown, 5 years
QQQD −51.4%since Mar 2024RWM −43.7%
Market sensitivityBeta, 5 years
QQQD −1.35RWM −1.23

QQQD and RWM in the news

All news⁠

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