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QQQD vs TWM

Direxion Daily Magnificent 7 Bear 1X ETF

QQQDCNYSE Arca

ProShares UltraShort Russell2000

TWMCNYSE Arca

Overlap

Expense ratio

QQQD −0.45pt a year

QQQD0.50%TWM0.95%

Avg volume · 30D

TWM 10.8×the volume

QQQD68.1KTWM736K

QQQD vs TWM Performance

Oct 31, 2025 – Oct 30, 2026

−0.7%QQQD−23.8%TWM

Oct 31, 2025 to Oct 30, 2026. QQQD −0.7%. TWM −23.8%. Use the arrow keys to read each point.−10%10%20%Oct 2025May 2026Oct 2026
Expense ratio
QQQD 0.50%, better
TWM 0.95%
Fund size
QQQD $28M
TWM $56M
1Y total return
QQQD −0.7%, better
TWM −23.8%
Yield (12M)
QQQD 3.35%
TWM 3.87%, better
Holdings
QQQD 3
TWM 1
Avg volume (30D)
QQQD 68.1K sh
TWM 736K sh, better
NAV per share
QQQD $12.18
TWM $23.96
52W range

ETF.net Grade

QQQD: Cost 50, Risk 67, Mission not scored, Tradability 43, Holdings not scored, Durability 38. TWM: Cost 50, Risk 38, Mission 88, Tradability 67, Holdings 63, Durability 65.
Pillar letters and Scores for QQQD, TWM, with each pillar’s weight
PillarQQQDTWM
Cost30% weightC50C50
Mission25% weightNot scoredA88
Risk15% weightB67HigherD38
Tradability15% weightC43B67Higher
Holdings10% weightNot scoredB63
Durability5% weightD38B65Higher

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 TWM 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 ›

TWM ranks 17th and QQQD 21st of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 17CSVIX-1x Short VIX Futures ETFScore 52
  2. Rank 17CTWMProShares UltraShort Russell2000Score 52
  3. Rank 21CEFZProShares Short MSCI EAFEScore 51
  4. Rank 21CQQQDDirexion Daily Magnificent 7 Bear 1X ETFScore 51
  5. Rank 23CZSLProShares UltraShort SilverScore 50

Our read on each fund

ETF.net Research

QQQDCDirexion Daily Magnificent 7 Bear 1X ETF

TWMCProShares UltraShort Russell2000

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.

TWM The double-strength small-cap bear trade, running since 2007: TWM aims for two times the inverse of the Russell 2000's daily move, and resets every day. Built for short holds, by design.

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.

TWM The Fund seeks daily results, before fees and expenses, corresponding to two times the inverse (-2x) of the Russell 2000 Index's daily performance. It is not designed to achieve that inverse target over periods longer than one day.

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.
  • TWM Aims for two times the inverse of the Russell 2000's daily move: a 1% down day in small caps targets roughly 2% the other way, before fees.proshares.com
  • Listed January 2007 and actively traded since, through the financial crisis and every small-cap scare after it.
  • 0.95% net of a waiver through September 30, 2027 (1.17% gross), near the category median for leveraged and inverse funds.
  • Stays close to its stated daily target and sits in the upper half of its leveraged-bear peer group.

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.
  • TWM Resets daily. Hold past one day and compounding takes over, so multi-day results can differ widely from -2x the index, especially in choppy markets.proshares.com
  • Leverage runs both ways: an up day for small caps targets roughly double the move against you, before fees.
  • Sibling RWM shorts the same Russell 2000 at -1x for the same 0.95% net (waiver through September 30, 2027), so the choice here is the leverage, not the fee.

Full QQQD profile⁠

Full TWM profile⁠

QQQD vs TWM 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 TWM Cost

Overpaying TWM vs QQQD

$7,890

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

  • QQQD 0.50%

    $9,979

  • TWM 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QQQD 0.50%
  • TWM 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$20K051015202530TWM $17,869QQQD $9,979

Year by year

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

QQQD cheapest of 53 funds

TWM 6th cheapest of 53 funds

QQQD vs TWM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QQQD 3.35%
TWM 3.87%, better
Payout (12M)
QQQD $0.41
TWM $0.93
Last payment
QQQD $0.10
TWM $0.18
Ex-dividend
QQQD Sep 22, 2026
TWM Sep 23, 2026
Paid on
QQQD Sep 29, 2026
TWM Sep 29, 2026
Frequency
QQQD Quarterly
TWM 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
TWMQuarterly · 26 paymentsAll TWM payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.16; Mar 21, 2018 $0.48; Jun 20, 2018 $0.62; Sep 26, 2018 $0.72; Dec 26, 2018 $1.19; Mar 20, 2019 $0.73; Jun 25, 2019 $1.28; Sep 25, 2019 $0.99; Dec 24, 2019 $0.73; Mar 25, 2020 $0.41; Dec 22, 2022 $0.14; Mar 22, 2023 $0.36; Jun 21, 2023 $0.59; Sep 20, 2023 $0.63; Dec 20, 2023 $1.17; Mar 20, 2024 $0.43; Jun 26, 2024 $0.69; Sep 25, 2024 $0.85; Dec 23, 2024 $0.79; Mar 26, 2025 $0.42; Jun 25, 2025 $0.51; Sep 24, 2025 $0.43; Dec 24, 2025 $0.37; Mar 25, 2026 $0.14; Jun 24, 2026 $0.24; Sep 23, 2026 $0.18. Use the arrow keys to read each point.$0$12017202020232026YTD

QQQD vs TWM 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 2024TWM 36.3%
Return per unit of riskSharpe ratio, 3 years
QQQD −1.14since Apr 2024TWM −1.01
Worst fallMax drawdown, 5 years
QQQD −51.4%since Mar 2024TWM −77.4%
Market sensitivityBeta, 5 years
QQQD −1.35TWM −2.43

QQQD and TWM in the news

All news⁠

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