NVDD vs. QQQE
NVDD (Direxion Daily NVDA Bear 1X Shares) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - NVDD is a Inverse Equities fund actively managed by Direxion, while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. NVDD is actively managed, while QQQE is passively managed. Over the past year, NVDD returned -20.12% vs 23.25% for QQQE. Their -0.52 correlation means they have often moved in opposite directions in the past. NVDD charges 1.01%/yr vs 0.35%/yr for QQQE.
Performance
NVDD vs. QQQE - Performance Comparison
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Returns By Period
In the year-to-date period, NVDD achieves a -13.43% return, which is significantly lower than QQQE's 16.27% return.
NVDD
- 1D
- -2.79%
- 1M
- -6.62%
- 6M
- -13.93%
- YTD
- -13.43%
- 1Y
- -20.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -48.64%
QQQE
- 1D
- 1.29%
- 1M
- -1.31%
- 6M
- 13.79%
- YTD
- 16.27%
- 1Y
- 23.25%
- 3Y*
- 15.78%
- 5Y*
- 8.28%
- 10Y*
- 14.69%
- ALL TIME*
- 14.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.44M | $5.40M | $4.86M | |
| $23.47M | $22.17M | $24.25M |
NVDD vs. QQQE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | -13.43% | -38.72% | -69.77% | -8.97% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 16.27% | 14.58% | 6.98% | 9.80% |
Correlation
The correlation between NVDD and QQQE is -0.44, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | -0.52 |
The correlation between NVDD and QQQE has been stable across timeframes, ranging from -0.52 to -0.44 - a consistent structural relationship.
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Return for Risk
NVDD vs. QQQE — Risk / Return Rank
NVDD
QQQE
NVDD vs. QQQE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NVDD | QQQE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.66 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.25 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 2.48 | -3.12 |
| Martin ratioReturn relative to average drawdown | -1.34 | 7.91 | -9.25 |
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Drawdowns
NVDD vs. QQQE - Drawdown Comparison
The maximum NVDD drawdown since its inception was -88.34%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for NVDD and QQQE.
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Drawdown Indicators
| NVDD | QQQE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.34% | -32.14% | -56.20% |
Max Drawdown (1Y)Largest decline over 1 year | -31.63% | -9.41% | -22.22% |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.38% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.14% | — |
Current DrawdownCurrent decline from peak | -86.96% | -3.22% | -83.74% |
Average DrawdownAverage peak-to-trough decline | -68.05% | -5.14% | -62.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.10% | 2.94% | +12.16% |
Volatility
NVDD vs. QQQE - Volatility Comparison
Direxion Daily NVDA Bear 1X Shares (NVDD) has a higher volatility of 12.08% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 3.89%. This indicates that NVDD's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVDD | QQQE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.08% | 3.89% | +8.19% |
Volatility (6M)Calculated over the trailing 6-month period | 28.46% | 12.92% | +15.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.47% | 15.92% | +20.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.06% | 20.59% | +26.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.06% | 20.76% | +26.30% |
NVDD vs. QQQE - Expense Ratio Comparison
NVDD has a 1.01% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Dividends
NVDD vs. QQQE - Dividend Comparison
NVDD's dividend yield for the trailing twelve months is around 3.77%, more than QQQE's 0.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | 3.77% | 4.19% | 4.83% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.57% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
Frequently Asked Questions
NVDD and QQQE have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDD has higher volatility (12.08%) compared to QQQE (3.89%). In terms of maximum drawdown, NVDD dropped -88.34% vs QQQE's -32.14%.
On 1-year performance, QQQE leads with 23.25% vs -20.12% for NVDD. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 3.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QQQE has performed better with a 23.25% return vs -20.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 1.01% for NVDD.
NVDD has the higher dividend yield at 3.77%, compared with 0.57% for QQQE.
NVDD is categorized as Inverse Equities, while QQQE is Nasdaq-100. Their fees differ too: 1.01% for NVDD and 0.35% for QQQE.
QQQE currently has the higher Sharpe Ratio (1.47 vs -0.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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