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QQQD vs SETH

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

ProShares Short Ether ETF

SETHCNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

QQQD0.50%SETH0.95%

Avg volume · 30D

QQQD 2.5×the volume

QQQD68.1KSETH26.8K

QQQD vs SETH Performance

Oct 31, 2025 – Oct 30, 2026

−0.7%QQQD+26.4%SETH

Oct 31, 2025 to Oct 30, 2026. QQQD −0.7%. SETH +26.4%. Use the arrow keys to read each point.40%60%80%Oct 2025Apr 2026Oct 2026
Expense ratio
QQQD 0.50%, better
SETH 0.95%
Fund size
QQQD $28M
SETH $8M
1Y total return
QQQD −0.7%
SETH +26.4%, better
Yield (12M)
QQQD 3.35%
SETH 27.56%, better
Holdings
QQQD 3
SETH 2
Avg volume (30D)
QQQD 68.1K sh, better
SETH 26.8K sh
NAV per share
QQQD $12.18
SETH $36.06
52W range

ETF.net Grade

QQQD: Cost 50, Risk 67, Mission not scored, Tradability 43, Holdings not scored, Durability 38. SETH: Cost 50, Risk 42, Mission not scored, Tradability 73, Holdings not scored, Durability 51.
Pillar letters and Scores for QQQD, SETH, with each pillar’s weight
PillarQQQDSETH
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB67HigherC42
Tradability15% weightC43A73Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD38C51Higher

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 SETH 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 ›

SETH ranks 15th and QQQD 21st of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 15CSARKTradr 1X Short Innovation Daily ETFScore 53
  2. Rank 15CSETHProShares Short Ether ETFScore 53
  3. Rank 17CSBITProShares UltraShort Bitcoin ETFScore 52
  4. Rank 21CEFZProShares Short MSCI EAFEScore 51
  5. Rank 21CQQQDDirexion Daily Magnificent 7 Bear 1X ETFScore 51
  6. Rank 23CZSLProShares UltraShort SilverScore 50

Our read on each fund

ETF.net Research

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

SETHCProShares Short Ether 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.

SETH The world's first short ether ETF, listed in November 2023. It targets -1x ether's daily move through cash-settled CME futures rather than an actual short position. 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.

SETH The fund seeks daily results, before fees and expenses, that correspond to the inverse (-1x) of the Bloomberg Ethereum 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.
  • SETH ProShares got here first: SETH launched in November 2023 as the world's first short ether-linked ETF, and it still holds the -1x slot in the lineup.proshares.com
  • No margin account, no coin borrow: one-day inverse ether exposure in an ordinary brokerage account, built on cash-settled ether futures traded on CME.proshares.comproshares.com 2
  • Cost sits near the typical leveraged-and-inverse fund: 0.95% net of a waiver through September 30, 2027, against a 1.03% gross ratio.
  • Single-speed by design. Stablemate ETHD targets twice the inverse daily move at the same 0.95% (no waiver attached), so SETH is the gentler dial.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.
  • SETH Daily reset: over longer holds, compounding and ether's volatility can pull results away from -1x of the period's move.proshares.com
  • Futures-based, not spot: the shape of the ether futures curve and the cost of rolling contracts feed into what you actually get.proshares.com
  • A small fund that trades lightly, so spreads can run wider than on ProShares' heavily traded index shorts like PSQ or DOG.

Full QQQD profile⁠

Full SETH profile⁠

QQQD vs SETH 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 SETH Cost

Overpaying SETH vs QQQD

$7,890

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

  • QQQD 0.50%

    $9,979

  • SETH 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QQQD 0.50%
  • SETH 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$20K051015202530SETH $17,869QQQD $9,979

Year by year

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

QQQD cheapest of 53 funds

SETH 6th cheapest of 53 funds

QQQD vs SETH Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QQQD 3.35%
SETH 27.56%, better
Payout (12M)
QQQD $0.41
SETH $9.93
Last payment
QQQD $0.10
SETH $0.04
Ex-dividend
QQQD Sep 22, 2026
SETH Oct 1, 2026
Paid on
QQQD Sep 29, 2026
SETH Oct 7, 2026
Frequency
QQQD Quarterly
SETH Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

QQQDQuarterly · 10 paymentsAll QQQD payments⁠
One bar per payment. 10 payments from 2023 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$2.5020232026YTD
SETHMonthly · 35 paymentsAll SETH payments⁠
One bar per payment. 35 payments from 2023 to 2026 YTD. Dec 1, 2023 $0.22; Dec 20, 2023 $0.24; Feb 1, 2024 $0.18; Mar 1, 2024 $0.22; Apr 1, 2024 $0.12; May 1, 2024 $0.13; Jun 3, 2024 $0.09; Jul 1, 2024 $0.29; Aug 1, 2024 $0.26; Sep 3, 2024 $0.25; Oct 1, 2024 $0.30; Nov 1, 2024 $0.14; Dec 2, 2024 $0.05; Dec 23, 2024 $0.08; Feb 3, 2025 $0.16; Mar 3, 2025 $0.13; Apr 1, 2025 $1.26; May 1, 2025 $1.07; Jun 2, 2025 $0.07; Jul 1, 2025 $0.06; Aug 1, 2025 $0.07; Sep 2, 2025 $0.03; Oct 1, 2025 $0.02; Nov 3, 2025 $0.02; Dec 1, 2025 $0.01; Dec 24, 2025 $0.05; Feb 2, 2026 $0.60; Mar 2, 2026 $2.19; Apr 1, 2026 $1.15; May 1, 2026 $0.53; Jun 1, 2026 $1.05; Jul 1, 2026 $2.33; Aug 3, 2026 $1.92; Sep 1, 2026 $0.03; Oct 1, 2026 $0.04. Use the arrow keys to read each point.$0$2.5020232026YTD

QQQD vs SETH 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 2024SETH 66.6%since Dec 2023
Return per unit of riskSharpe ratio, 3 years
QQQD −1.14since Apr 2024SETH −0.29since Dec 2023
Worst fallMax drawdown, 5 years
QQQD −51.4%since Mar 2024SETH −80.7%since Nov 2023
Market sensitivityBeta, 5 years
QQQD −1.35SETH −2.62

QQQD and SETH in the news

All news⁠

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