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QQQD vs SDP

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

ProShares UltraShort Utilities

SDPCNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

QQQD0.50%SDP0.95%

Avg volume · 30D

QQQD 6.8×the volume

QQQD68.1KSDP10.1K

QQQD vs SDP Performance

Oct 31, 2025 – Oct 30, 2026

−0.7%QQQD+2.4%SDP

Oct 31, 2025 to Oct 30, 2026. QQQD −0.7%. SDP +2.4%. Use the arrow keys to read each point.−10%10%20%Oct 2025May 2026Oct 2026
Expense ratio
QQQD 0.50%, better
SDP 0.95%
Fund size
QQQD $28M
SDP $2M
1Y total return
QQQD −0.7%
SDP +2.4%, better
Yield (12M)
QQQD 3.35%
SDP 3.86%, better
Holdings
QQQD 3
SDP 1
Avg volume (30D)
QQQD 68.1K sh, better
SDP 10.1K sh
NAV per share
QQQD $12.18
SDP $23.14
52W range

ETF.net Grade

QQQD: Cost 50, Risk 67, Mission not scored, Tradability 43, Holdings not scored, Durability 38. SDP: Cost 50, Risk 61, Mission not scored, Tradability 41, Holdings not scored, Durability 39.
Pillar letters and Scores for QQQD, SDP, with each pillar’s weight
PillarQQQDSDP
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB67HigherB61
Tradability15% weightC43HigherC41
Holdings10% weightNot scoredNot scored
Durability5% weightD38D39Higher

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 SDP 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 SDP 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 32CSCCProShares UltraShort Consumer DiscretionaryScore 40
  5. Rank 32CSDPProShares UltraShort UtilitiesScore 40
  6. Rank 32CSIJProShares UltraShort IndustrialsScore 40

Our read on each fund

ETF.net Research

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

SDPCProShares UltraShort Utilities

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.

SDP Utilities are the market's sleepiest sector, which is exactly why SDP exists: the only -2x inverse utilities ETF, trading since 2007. A one-day tool, priced 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.

SDP The Fund seeks daily investment results, before fees and expenses, corresponding to approximately two times the inverse of the daily performance of the S&P Utilities Select Sector Index.

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.
  • SDP The only -2x inverse utilities ETF, per ProShares. Sector-level short exposure in a brokerage account, no margin agreement and no borrowing shares.proshares.com
  • 0.95% net of a waiver through September 30, 2027, against a 3.02% gross fee. Same net cost as ProShares' most-used inverse funds, DOG and PSQ, both waived to that date too.
  • Listed January 30, 2007, making it one of the original leveraged-inverse sector funds, with the same daily-reset mechanism through nearly two decades of utility tape.proshares.com

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.
  • SDP The leverage resets daily. Hold past one session and compounding takes over, so returns over a week or a month can differ sharply from -2x the index move.proshares.com
  • One of the smaller, thinner-traded names in the inverse lineup, so spreads and order size are where the friction shows up.
  • Exposure comes from swaps and futures rather than shorted stock, which brings counterparty and financing costs into the picture.proshares.com

Full QQQD profile⁠

Full SDP profile⁠

QQQD vs SDP 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 SDP Cost

Overpaying SDP vs QQQD

$7,890

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

  • QQQD 0.50%

    $9,979

  • SDP 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QQQD 0.50%
  • SDP 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$20K051015202530SDP $17,869QQQD $9,979

Year by year

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

QQQD cheapest of 53 funds

SDP 6th cheapest of 53 funds

QQQD vs SDP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QQQD 3.35%
SDP 3.86%, better
Payout (12M)
QQQD $0.41
SDP $0.89
Last payment
QQQD $0.10
SDP $0.17
Ex-dividend
QQQD Sep 22, 2026
SDP Sep 23, 2026
Paid on
QQQD Sep 29, 2026
SDP Sep 29, 2026
Frequency
QQQD Quarterly
SDP 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$0.502017202020232026YTD
SDPQuarterly · 23 paymentsAll SDP payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Dec 26, 2018 $0.09; Mar 20, 2019 $0.19; Jun 25, 2019 $0.40; Sep 25, 2019 $0.36; Dec 24, 2019 $0.08; Mar 25, 2020 $0.09; Dec 22, 2022 $0.24; Mar 22, 2023 $0.22; Jun 21, 2023 $0.53; Sep 20, 2023 $0.19; Dec 20, 2023 $0.58; Feb 14, 2024 $0.06; Mar 20, 2024 $0.24; Jun 26, 2024 $0.42; Sep 25, 2024 $0.25; Dec 23, 2024 $0.65; Mar 26, 2025 $0.15; Jun 25, 2025 $0.16; Sep 24, 2025 $0.19; Dec 24, 2025 $0.49; Mar 25, 2026 $0.06; Jun 24, 2026 $0.17; Sep 23, 2026 $0.17. Use the arrow keys to read each point.$0$0.502017202020232026YTD

QQQD vs SDP 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 2024SDP 31.1%
Return per unit of riskSharpe ratio, 3 years
QQQD −1.14since Apr 2024SDP −0.84
Worst fallMax drawdown, 5 years
QQQD −51.4%since Mar 2024SDP −66.1%
Market sensitivityBeta, 5 years
QQQD −1.35SDP −0.79

QQQD and SDP in the news

All news⁠

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