QID vs. TZA
Compare and contrast key facts about ProShares UltraShort QQQ (QID) and Direxion Daily Small Cap Bear 3X Shares (TZA).
QID and TZA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QID is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-200%). It was launched on Jul 11, 2006. TZA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (-300%). It was launched on Nov 5, 2008. Both QID and TZA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QID or TZA.
Key characteristics
| QID | TZA | |
|---|---|---|
| YTD Return | -34.97% | -45.07% |
| 1Y Return | -46.47% | -69.49% |
| 3Y Return (Ann) | -23.63% | -20.40% |
| 5Y Return (Ann) | -41.46% | -48.78% |
| 10Y Return (Ann) | -36.07% | -40.65% |
| Sharpe Ratio | -1.31 | -1.05 |
| Sortino Ratio | -2.14 | -1.84 |
| Omega Ratio | 0.77 | 0.79 |
| Calmar Ratio | -0.46 | -0.68 |
| Martin Ratio | -1.48 | -1.39 |
| Ulcer Index | 30.90% | 48.79% |
| Daily Std Dev | 35.01% | 64.62% |
| Max Drawdown | -99.97% | -100.00% |
| Current Drawdown | -99.97% | -100.00% |
Correlation
The correlation between QID and TZA is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
QID vs. TZA - Performance Comparison
In the year-to-date period, QID achieves a -34.97% return, which is significantly higher than TZA's -45.07% return. Over the past 10 years, QID has outperformed TZA with an annualized return of -36.07%, while TZA has yielded a comparatively lower -40.65% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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QID vs. TZA - Expense Ratio Comparison
QID has a 0.95% expense ratio, which is lower than TZA's 1.11% expense ratio.
Risk-Adjusted Performance
QID vs. TZA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) and Direxion Daily Small Cap Bear 3X Shares (TZA). 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.
Dividends
QID vs. TZA - Dividend Comparison
QID's dividend yield for the trailing twelve months is around 9.55%, more than TZA's 6.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | 9.55% | 5.64% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.07% |
TZA Direxion Daily Small Cap Bear 3X Shares | 6.87% | 5.49% | 0.00% | 0.00% | 1.21% | 1.57% | 0.63% | 0.00% |
Drawdowns
QID vs. TZA - Drawdown Comparison
The maximum QID drawdown since its inception was -99.97%, roughly equal to the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QID and TZA. For additional features, visit the drawdowns tool.
Volatility
QID vs. TZA - Volatility Comparison
The current volatility for ProShares UltraShort QQQ (QID) is 10.33%, while Direxion Daily Small Cap Bear 3X Shares (TZA) has a volatility of 23.47%. This indicates that QID experiences smaller price fluctuations and is considered to be less risky than TZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.