QCMD vs. ZIVB

Last updated Jun 26, 2026

QCMD (Direxion Daily QCOM Bear 1X Shares) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. At a correlation of -0.12, they often move in opposite directions. QCMD charges 1.00%/yr vs 1.35%/yr for ZIVB.

Performance

QCMD vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily QCOM Bear 1X Shares (QCMD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QCMD

• 1D: -4.04%
• 1M: 14.28%
• YTD: -29.99%
• 6M: -28.41%
• 1Y: -38.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCMD vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
QCMD Direxion Daily QCOM Bear 1X Shares	7.54%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	33.28%

Correlation

The correlation between QCMD and ZIVB is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	-0.12

Return for Risk

QCMD vs. ZIVB — Risk / Return Rank

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

QCMD

QCMD Risk / Return Rank: 3
QCMD Sharpe Ratio Rank: 3
QCMD Sortino Ratio Rank: 4
QCMD Omega Ratio Rank: 3
QCMD Calmar Ratio Rank: 4
QCMD Martin Ratio Rank: 0

ZIVB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

QCMD vs. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily QCOM Bear 1X Shares (QCMD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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.

	QCMD	ZIVB	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	—	—
Sortino ratio: Return per unit of downside risk	-0.94	—	—
Omega ratio: Gain probability vs. loss probability	0.87	—	—
Calmar ratio: Return relative to maximum drawdown	-0.68	—	—
Martin ratio: Return relative to average drawdown	-1.77	—	—

Drawdowns

QCMD vs. ZIVB - Drawdown Comparison

The maximum QCMD drawdown since its inception was -56.03%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for QCMD and ZIVB.

Drawdown Indicators

	QCMD	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-56.03%	0.00%	-56.03%
Max Drawdown (1Y) Largest decline over 1 year	-56.03%	—	—
Current Drawdown Current decline from peak	-48.55%	0.00%	-48.55%
Average Drawdown Average peak-to-trough decline	-15.26%	0.00%	-15.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.63%	—	—

Volatility

Volatility by Period

	QCMD	ZIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	45.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	50.35%	106.85%	-56.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.35%	106.85%	-56.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.35%	106.85%	-56.50%

QCMD vs. ZIVB - Expense Ratio Comparison

QCMD has a 1.00% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

QCMD vs. ZIVB - Dividend Comparison

QCMD's dividend yield for the trailing twelve months is around 4.27%, more than ZIVB's 2.37% yield.

Position	TTM	2025
QCMD Direxion Daily QCOM Bear 1X Shares	4.27%	1.77%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	2.37%	0.00%

Frequently Asked Questions

Can I hold both QCMD and ZIVB in my portfolio?

QCMD and ZIVB have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QCMD or ZIVB?

On fees, QCMD is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QCMD or ZIVB?

QCMD is cheaper with a 1.00% expense ratio, compared with 1.35% for ZIVB.

Which ETF pays a higher dividend yield, QCMD or ZIVB?

QCMD has the higher dividend yield at 4.27%, compared with 2.37% for ZIVB.

What is the main difference between QCMD and ZIVB?

They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 1.00% for QCMD and 1.35% for ZIVB.