MSFD vs. YQQQ

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily MSFT Bear 1X Shares (MSFD) and YieldMax Short N100 Option Income Strategy ETF (YQQQ).

MSFD and YQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSFD is a passively managed fund by Direxion that tracks the performance of the Microsoft Corporation (-100%). It was launched on Sep 6, 2022. YQQQ is an actively managed fund by YieldMax. It was launched on Aug 14, 2024.

Performance

MSFD vs. YQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSFT Bear 1X Shares (MSFD) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). The values are adjusted to include any dividend payments, if applicable.

MSFD vs. YQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFD Direxion Daily MSFT Bear 1X Shares	28.73%	-13.36%	1.08%
YQQQ YieldMax Short N100 Option Income Strategy ETF	11.80%	-9.97%	-4.06%

Returns By Period

In the year-to-date period, MSFD achieves a 28.73% return, which is significantly higher than YQQQ's 11.80% return.

MSFD

• 1D: -3.15%
• 1M: 6.11%
• YTD: 28.73%
• 6M: 38.42%
• 1Y: -0.32%
• 3Y*: -7.18%
• 5Y*: —
• 10Y*: —

YQQQ

• 1D: -2.73%
• 1M: 6.61%
• YTD: 11.80%
• 6M: 13.19%
• 1Y: -6.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MSFD vs. YQQQ - Expense Ratio Comparison

MSFD has a 1.06% expense ratio, which is higher than YQQQ's 0.99% expense ratio.

MSFD

Direxion Daily MSFT Bear 1X Shares

YQQQ

YieldMax Short N100 Option Income Strategy ETF

Return for Risk

MSFD vs. YQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MSFD

MSFD Risk / Return Rank: 12
MSFD Sharpe Ratio Rank: 11
MSFD Sortino Ratio Rank: 12
MSFD Omega Ratio Rank: 12
MSFD Calmar Ratio Rank: 12
MSFD Martin Ratio Rank: 12

YQQQ

YQQQ Risk / Return Rank: 6
YQQQ Sharpe Ratio Rank: 5
YQQQ Sortino Ratio Rank: 5
YQQQ Omega Ratio Rank: 4
YQQQ Calmar Ratio Rank: 8
YQQQ Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MSFD vs. YQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bear 1X Shares (MSFD) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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.

	MSFD	YQQQ	Difference
Sharpe ratio Return per unit of total volatility	-0.01	-0.38	+0.37
Sortino ratio Return per unit of downside risk	0.17	-0.39	+0.56
Omega ratio Gain probability vs. loss probability	1.02	0.94	+0.08
Calmar ratio Return relative to maximum drawdown	0.02	-0.25	+0.26
Martin ratio Return relative to average drawdown	0.03	-0.33	+0.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFD vs. YQQQ - Sharpe Ratio Comparison

The current MSFD Sharpe Ratio is -0.01, which is higher than the YQQQ Sharpe Ratio of -0.38. The chart below compares the historical Sharpe Ratios of MSFD and YQQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSFD	YQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	-0.38	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	-0.39	-0.13	-0.26

Correlation

The correlation between MSFD and YQQQ is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MSFD vs. YQQQ - Dividend Comparison

MSFD's dividend yield for the trailing twelve months is around 2.43%, less than YQQQ's 27.35% yield.

	TTM	2025	2024	2023	2022
MSFD Direxion Daily MSFT Bear 1X Shares	2.43%	3.33%	4.46%	4.43%	0.74%
YQQQ YieldMax Short N100 Option Income Strategy ETF	27.35%	31.71%	7.88%	0.00%	0.00%

Drawdowns

MSFD vs. YQQQ - Drawdown Comparison

The maximum MSFD drawdown since its inception was -59.90%, which is greater than YQQQ's maximum drawdown of -24.85%. Use the drawdown chart below to compare losses from any high point for MSFD and YQQQ.

Drawdown Indicators

	MSFD	YQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-59.90%	-24.85%	-35.05%
Max Drawdown (1Y) Largest decline over 1 year	-34.84%	-24.85%	-9.99%
Current Drawdown Current decline from peak	-41.94%	-11.80%	-30.14%
Average Drawdown Average peak-to-trough decline	-41.28%	-13.36%	-27.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.22%	18.66%	+6.56%

Volatility

MSFD vs. YQQQ - Volatility Comparison

Direxion Daily MSFT Bear 1X Shares (MSFD) has a higher volatility of 6.60% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 5.23%. This indicates that MSFD's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFD	YQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.60%	5.23%	+1.37%
Volatility (6M) Calculated over the trailing 6-month period	18.84%	9.36%	+9.48%
Volatility (1Y) Calculated over the trailing 1-year period	26.78%	17.29%	+9.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.77%	16.38%	+9.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.77%	16.38%	+9.39%