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QQQD vs SEF

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

ProShares Short Financials

SEFBNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

QQQD0.50%SEF0.95%

Avg volume · 30D

QQQD 4.6×the volume

QQQD65.9KSEF14.5K

QQQD vs SEF Performance

Nov 7, 2025 – Nov 9, 2026

−5.0%QQQD−6.5%SEF

Nov 7, 2025 to Nov 9, 2026. QQQD −5.0%. SEF −6.5%. Use the arrow keys to read each point.0%5%10%15%Nov 2025May 2026Nov 2026
Expense ratio
QQQD 0.50%, better
SEF 0.95%
Fund size
QQQD $27M
SEF $13M
1Y total return
QQQD −5.0%, better
SEF −6.5%
Yield (12M)
QQQD 3.38%, better
SEF 3.11%
Holdings
QQQD 4
SEF 2
Avg volume (30D)
QQQD 65.9K sh, better
SEF 14.5K sh
NAV per share
QQQD $12.56
SEF $29.58
52W range

ETF.net Grade

QQQD: Cost 50, Risk 66, Mission not scored, Tradability 43, Holdings not scored, Durability 39. SEF: Cost 50, Risk 65, Mission not scored, Tradability 68, Holdings 44, Durability 56.
Pillar letters and Scores for QQQD, SEF, with each pillar’s weight
PillarQQQDSEF
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB66HigherB65
Tradability15% weightC43B68Higher
Holdings10% weightNot scoredC44
Durability5% weightD39B56Higher

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 SEF 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 ›

SEF ranks 9th and QQQD 20th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 9BEUMProShares Short MSCI Emerging MarketsScore 58
  2. Rank 9BSEFProShares Short FinancialsScore 58
  3. Rank 11BQIDProShares UltraShort QQQScore 57
  4. Rank 20CEFZProShares Short MSCI EAFEScore 51
  5. Rank 20CQQQDDirexion Daily Magnificent 7 Bear 1X ETFScore 51
  6. Rank 20CSKFProShares UltraShort FinancialsScore 51

Our read on each fund

ETF.net Research

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

SEFBProShares Short Financials

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.

SEF Launched in June 2008, in the thick of the financial crisis, SEF is the plain-vanilla short on US financials: one index, one times inverse, reset every day. No leverage stacked on top.

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.

SEF The fund seeks inverse daily results, before fees and expenses, relative to the S&P Financial 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.
  • SEF Same index as ProShares' SKF, but no leverage on top: SEF's mandate is the inverse of the S&P Financial Select Sector Index's daily move, before fees and expenses.
  • 0.95% net of a waiver through September 30, 2027 (1.58% gross), near the category median and level with ProShares' DOG, PSQ, SJB and RWM, all waived to that same date.
  • Listed since June 2008 and still running, and it rates as one of the stronger builds in a crowded field of inverse funds.

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.
  • SEF The one times inverse target resets daily. Over longer holds, compounding can push results away from the index's simple inverse, especially in choppy markets.
  • Small and thinly traded next to the headline inverse names, so the bid-ask spread is a real part of the cost of getting in and out.
  • That 0.95% rides on a fee waiver; the gross expense ratio is 1.58% if it is not renewed past September 30, 2027.

Full QQQD profile⁠

Full SEF profile⁠

QQQD vs SEF 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 SEF Cost

Overpaying SEF vs QQQD

$7,890

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

  • QQQD 0.50%

    $9,979

  • SEF 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QQQD 0.50%
  • SEF 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$20K051015202530SEF $17,869QQQD $9,979

Year by year

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

QQQD cheapest of 53 funds

SEF 6th cheapest of 53 funds

QQQD vs SEF Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
QQQD 3.38%, better
SEF 3.11%
Payout (12M)
QQQD $0.41
SEF $0.91
Last payment
QQQD $0.10
SEF $0.22
Ex-dividend
QQQD Sep 22, 2026
SEF Sep 23, 2026
Paid on
QQQD Sep 29, 2026
SEF Sep 29, 2026
Frequency
QQQD Quarterly
SEF 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
SEFQuarterly · 23 paymentsAll SEF payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.13; Dec 26, 2018 $0.28; Mar 20, 2019 $0.22; Jun 25, 2019 $0.30; Sep 25, 2019 $0.24; Dec 24, 2019 $0.20; Mar 25, 2020 $0.08; Dec 22, 2022 $0.20; Mar 22, 2023 $0.25; Jun 21, 2023 $0.44; Sep 20, 2023 $0.55; Dec 20, 2023 $0.77; Mar 20, 2024 $0.45; Jun 26, 2024 $0.66; Sep 25, 2024 $0.39; Dec 23, 2024 $0.54; Mar 26, 2025 $0.32; Jun 25, 2025 $0.35; Sep 24, 2025 $0.33; Dec 24, 2025 $0.33; Mar 25, 2026 $0.11; Jun 24, 2026 $0.25; Sep 23, 2026 $0.22. Use the arrow keys to read each point.$0$0.502017202020232026YTD

QQQD vs SEF 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 2024SEF 14.5%
Return per unit of riskSharpe ratio, 3 years
QQQD −1.14since Apr 2024SEF −1.27
Worst fallMax drawdown, 5 years
QQQD −51.4%since Mar 2024SEF −43.1%
Market sensitivityBeta, 5 years
QQQD −1.38SEF −0.74

QQQD and SEF in the news

All news⁠

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