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QQQD vs SRS

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

ProShares UltraShort Real Estate

SRSBNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

QQQD0.50%SRS0.95%

Avg volume · 30D

QQQD 4.6×the volume

QQQD65.9KSRS14.3K

QQQD vs SRS Performance

Nov 7, 2025 – Nov 9, 2026

−5.0%QQQD−17.2%SRS

Nov 7, 2025 to Nov 9, 2026. QQQD −5.0%. SRS −17.2%. Use the arrow keys to read each point.−10%0%10%20%Nov 2025May 2026Nov 2026
Expense ratio
QQQD 0.50%, better
SRS 0.95%
Fund size
QQQD $27M
SRS $16M
1Y total return
QQQD −5.0%, better
SRS −17.2%
Yield (12M)
QQQD 3.38%
SRS 3.39%, better
Holdings
QQQD 4
SRS 2
Avg volume (30D)
QQQD 65.9K sh, better
SRS 14.3K sh
NAV per share
QQQD $12.56
SRS $39.90
52W range

ETF.net Grade

QQQD: Cost 50, Risk 66, Mission not scored, Tradability 43, Holdings not scored, Durability 39. SRS: Cost 50, Risk 55, Mission not scored, Tradability 60, Holdings 36, Durability 56.
Pillar letters and Scores for QQQD, SRS, with each pillar’s weight
PillarQQQDSRS
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB66HigherB55
Tradability15% weightC43B60Higher
Holdings10% weightNot scoredD36
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 SRS 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 ›

SRS ranks 14th and QQQD 20th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 14CSETHProShares Short Ether ETFScore 53
  2. Rank 14BSRSProShares UltraShort Real EstateScore 53
  3. Rank 18CSVIX-1x Short VIX Futures ETFScore 52
  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

SRSBProShares UltraShort Real Estate

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.

SRS The one-ticker way to lean against US real estate with leverage: SRS targets twice the inverse of the S&P 500's real estate sector, recalculated every single day. It has been running since 2007, just as the housing market cracked.

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.

SRS The fund seeks daily results, before fees and expenses, equal to two times the inverse performance of the S&P Real Estate Select Sector SM 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.
  • SRS ProShares describes it as the only -2x ETF built to rise when the real estate sector falls on a given day. A REIT-heavy short with leverage, in one brokerage ticker, no margin account or borrow hunt.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.29% gross), near the category median and the same net fee as ProShares' index shorts like PSQ and RWM, each 0.95% net of waivers through September 30, 2027.
  • Trading since January 2007, so nearly two decades of operating history across full real estate cycles. Few inverse sector funds have been around that long.
  • Among the leveraged and inverse funds we review, it sits in the upper tier of a large peer group on how cleanly the exposure is built and traded.

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.
  • SRS The -2x target is a one-day target. The prospectus states that over longer periods daily rebalancing and compounding will very likely make returns differ from -2x the index, including in flat markets.sec.gov
  • Exposure comes mainly from swaps with large financial institutions rather than shorted shares, so counterparty terms and financing costs sit inside the return.sec.gov
  • A small fund that trades lightly next to the big index-based inverse ETFs, so spreads and execution deserve attention.

Full QQQD profile⁠

Full SRS profile⁠

QQQD vs SRS 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 SRS Cost

Overpaying SRS vs QQQD

$7,890

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

  • QQQD 0.50%

    $9,979

  • SRS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QQQD 0.50%
  • SRS 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$20K051015202530SRS $17,869QQQD $9,979

Year by year

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

QQQD cheapest of 53 funds

SRS 6th cheapest of 53 funds

QQQD vs SRS Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
QQQD 3.38%
SRS 3.39%, better
Payout (12M)
QQQD $0.41
SRS $1.31
Last payment
QQQD $0.10
SRS $0.33
Ex-dividend
QQQD Sep 22, 2026
SRS Sep 23, 2026
Paid on
QQQD Sep 29, 2026
SRS Sep 29, 2026
Frequency
QQQD Quarterly
SRS 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$12017202020232026YTD
SRSQuarterly · 24 paymentsAll SRS payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Jun 20, 2018 $0.0099; Sep 26, 2018 $0.50; Dec 26, 2018 $0.65; Mar 20, 2019 $0.57; Jun 25, 2019 $0.86; Sep 25, 2019 $0.74; Dec 24, 2019 $0.51; Mar 25, 2020 $0.19; Dec 22, 2022 $0.22; Mar 22, 2023 $0.42; Jun 21, 2023 $0.59; Sep 20, 2023 $0.66; Dec 20, 2023 $0.89; Mar 20, 2024 $0.51; Jun 26, 2024 $0.97; Sep 25, 2024 $0.79; Dec 23, 2024 $0.88; Mar 26, 2025 $0.49; Jun 25, 2025 $0.43; Sep 24, 2025 $0.42; Dec 24, 2025 $0.43; Mar 25, 2026 $0.26; Jun 24, 2026 $0.29; Sep 23, 2026 $0.33. Use the arrow keys to read each point.$0$12017202020232026YTD

QQQD vs SRS 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 2024SRS 33.0%
Return per unit of riskSharpe ratio, 3 years
QQQD −1.14since Apr 2024SRS −0.59
Worst fallMax drawdown, 5 years
QQQD −51.4%since Mar 2024SRS −54.8%
Market sensitivityBeta, 5 years
QQQD −1.38SRS −1.87

QQQD and SRS in the news

All news⁠

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