QQDN vs. SMST
QQDN (ProShares UltraShort QQQ Mega) and SMST (Defiance Daily Target 2X Short MSTR ETF) are both Inverse Equities funds. QQDN is passively managed, while SMST is actively managed. At a 0.45 correlation, their price movements are largely independent. QQDN charges 0.95%/yr vs 1.29%/yr for SMST.
Performance
QQDN vs. SMST - Performance Comparison
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Returns By Period
In the year-to-date period, QQDN achieves a -17.46% return, which is significantly higher than SMST's -51.70% return.
QQDN
- 1D
- -0.14%
- 1M
- -6.55%
- YTD
- -17.46%
- 6M
- -13.39%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMST
- 1D
- -4.37%
- 1M
- 82.90%
- YTD
- -51.70%
- 6M
- -32.23%
- 1Y
- 61.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQDN vs. SMST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQDN ProShares UltraShort QQQ Mega | -17.46% | -34.14% |
SMST Defiance Daily Target 2X Short MSTR ETF | -51.70% | 235.62% |
Correlation
The correlation between QQDN and SMST is 0.45, 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 13, 2025 | 0.45 |
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Return for Risk
QQDN vs. SMST — Risk / Return Rank
QQDN
SMST
QQDN vs. SMST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ Mega (QQDN) and Defiance Daily Target 2X Short MSTR ETF (SMST). 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
| QQDN | SMST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.21 | -0.53 | -0.69 |
Drawdowns
QQDN vs. SMST - Drawdown Comparison
The maximum QQDN drawdown since its inception was -50.19%, smaller than the maximum SMST drawdown of -99.25%. Use the drawdown chart below to compare losses from any high point for QQDN and SMST.
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Drawdown Indicators
| QQDN | SMST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.19% | -99.25% | +49.06% |
Max Drawdown (1Y)Largest decline over 1 year | — | -85.39% | — |
Current DrawdownCurrent decline from peak | -47.00% | -98.10% | +51.10% |
Average DrawdownAverage peak-to-trough decline | -30.23% | -90.68% | +60.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 40.97% | — |
Volatility
QQDN vs. SMST - Volatility Comparison
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Volatility by Period
| QQDN | SMST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 37.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 126.04% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 38.51% | 140.75% | -102.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.51% | 166.63% | -128.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.51% | 166.63% | -128.12% |
QQDN vs. SMST - Expense Ratio Comparison
QQDN has a 0.95% expense ratio, which is lower than SMST's 1.29% expense ratio.
Dividends
QQDN vs. SMST - Dividend Comparison
QQDN's dividend yield for the trailing twelve months is around 4.93%, while SMST has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
QQDN ProShares UltraShort QQQ Mega | 4.93% | 3.42% |
SMST Defiance Daily Target 2X Short MSTR ETF | 0.00% | 0.00% |
Frequently Asked Questions
QQDN and SMST have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QQDN is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QQDN is cheaper with a 0.95% expense ratio, compared with 1.29% for SMST.
QQDN has the higher dividend yield at 4.93%, compared with 0.00% for SMST.
They also come from different issuers: ProShares and Defiance. Their fees differ too: 0.95% for QQDN and 1.29% for SMST.
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