QQQD vs SARK

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

SARKCTradr 1X Short Innovation Daily ETF

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.

SARK The original anti-ARKK trade. Launched in 2021 as the first US ETF built to short another ETF, SARK uses swaps to aim for the inverse of the ARK Innovation ETF's move over a single day, then resets overnight. A trading tool, not a hold.

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.

SARK The Fund seeks daily inverse exposure to the ARK Innovation ETF for one trading day, using swaps and daily repositioning. It is intended for sophisticated, actively managed trading or hedging strategies.

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.

• SARK First of its kind: at launch it was the first US ETF offering short exposure to another ETF, and it still delivers that exposure through swaps rather than a margin account and borrowed shares.sec.govwikipedia.org
• One job, done tightly: daily inverse exposure to the ARK Innovation ETF, and it has stayed close to that one-day target. That lands it in the upper half of a crowded inverse field.
• Costs 0.99% a year, with no waiver propping the number up, which sits near the category median for inverse funds. Index shorts like PSQ and DOG aim at benchmarks; this one aims at a stock picker.

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.

• SARK The clock resets every session. Hold past a day and the path of ARK Innovation's moves, not just its direction, shapes your result.tradretfs.com
• Exposure comes from swap contracts with financial institutions, so counterparty risk rides alongside market risk.sec.govtradretfs.com
• The target moves. You are positioned against an actively managed portfolio whose holdings ARK can reshuffle, so what you are short today may not be what you are short next quarter.wikipedia.org

Full QQQD profile⁠

Full SARK profile⁠