IONZ vs. QQQD
IONZ (Defiance Daily Target 2X Short IONQ ETF) and QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) are both Inverse Equities funds. At a 0.33 correlation, their price movements are largely independent. IONZ charges 1.29%/yr vs 0.57%/yr for QQQD.
Performance
IONZ vs. QQQD - Performance Comparison
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Returns By Period
In the year-to-date period, IONZ achieves a -87.96% return, which is significantly lower than QQQD's -0.26% return.
IONZ
- 1D
- 26.98%
- 1M
- -40.91%
- YTD
- -87.96%
- 6M
- -86.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQD
- 1D
- 3.96%
- 1M
- 3.12%
- YTD
- -0.26%
- 6M
- 0.95%
- 1Y
- -21.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IONZ vs. QQQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | -87.96% | -81.41% |
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | -0.26% | -17.53% |
Correlation
The correlation between IONZ and QQQD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025 | 0.33 |
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Return for Risk
IONZ vs. QQQD — Risk / Return Rank
IONZ
QQQD
IONZ vs. QQQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short IONQ ETF (IONZ) and Direxion Daily Magnificent 7 Bear 1X Shares (QQQD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| IONZ | QQQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -1.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.52 | -0.82 | +0.29 |
Drawdowns
IONZ vs. QQQD - Drawdown Comparison
The maximum IONZ drawdown since its inception was -98.66%, which is greater than QQQD's maximum drawdown of -49.47%. Use the drawdown chart below to compare losses from any high point for IONZ and QQQD.
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Drawdown Indicators
| IONZ | QQQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.66% | -49.47% | -49.19% |
Max Drawdown (1Y)Largest decline over 1 year | — | -25.09% | — |
Current DrawdownCurrent decline from peak | -98.02% | -46.07% | -51.95% |
Average DrawdownAverage peak-to-trough decline | -73.24% | -30.40% | -42.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 17.84% | — |
Volatility
IONZ vs. QQQD - Volatility Comparison
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Volatility by Period
| IONZ | QQQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.93% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 14.98% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 187.62% | 20.64% | +166.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 187.62% | 26.87% | +160.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 187.62% | 26.87% | +160.75% |
IONZ vs. QQQD - Expense Ratio Comparison
IONZ has a 1.29% expense ratio, which is higher than QQQD's 0.57% expense ratio.
Dividends
IONZ vs. QQQD - Dividend Comparison
IONZ has not paid dividends to shareholders, while QQQD's dividend yield for the trailing twelve months is around 3.96%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IONZ Defiance Daily Target 2X Short IONQ ETF | 0.00% | 0.00% | 0.00% |
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 3.96% | 4.33% | 5.17% |
Frequently Asked Questions
IONZ and QQQD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QQQD is cheaper at 0.57% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QQQD is cheaper with a 0.57% expense ratio, compared with 1.29% for IONZ.
QQQD has the higher dividend yield at 3.96%, compared with 0.00% for IONZ.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.29% for IONZ and 0.57% for QQQD.
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