QQQD vs SSG

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

SSGCProShares UltraShort Semiconductors

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.

SSG Chip stocks cut both ways. SSG is ProShares' -2x daily short on the Dow Jones U.S. Semiconductors Index, built one trading day at a time and live since 2007. Fee: 0.95% net of a waiver through September 30, 2027 (1.33% gross).

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.

SSG The fund targets daily, pre-fee and pre-expense returns that are twice the opposite of the Dow Jones U.S. Semiconductors SM Index's daily performance.

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.

• SSG Targets twice the inverse of the Dow Jones U.S. Semiconductors Index each day, before fees: a defined, mechanical way to express a bearish chip view in a regular brokerage account.proshares.com
• Listed in January 2007, so it has traded through multiple full semiconductor cycles, long before the AI-chip era. ProShares bills it as its only -2x fund on the chip industry.proshares.com
• 0.95% net of a waiver through September 30, 2027 (1.33% gross) sits near the category median and level with ProShares' DOG and PSQ at 0.95% net, each waived to the same date.

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.

• SSG The leverage resets daily. Hold longer and results follow the compounded path, not -2x the period move; in choppy or rising chip tape that gap widens.proshares.com
• Double leverage on a single, famously volatile industry means outsized moves in both directions. ProShares' own materials frame these funds as positions to monitor daily.proshares.com
• It is a small fund that pays quarterly, and the 1.33% gross fee is what applies if the waiver is not extended past September 30, 2027.

Full QQQD profile⁠

Full SSG profile⁠