QQQD vs. IWL
QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) and IWL (iShares Russell Top 200 ETF) are both exchange-traded funds - QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%), while IWL is a Large Cap Growth Equities fund tracking the Russell Top 200 Index. Both are passively managed. Over the past year, QQQD returned -14.61% vs 23.48% for IWL. At a correlation of -0.85, they often move in opposite directions. QQQD charges 0.57%/yr vs 0.15%/yr for IWL.
Performance
QQQD vs. IWL - Performance Comparison
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Returns By Period
In the year-to-date period, QQQD achieves a 4.24% return, which is significantly lower than IWL's 6.83% return.
QQQD
- 1D
- 0.67%
- 1M
- 9.00%
- YTD
- 4.24%
- 6M
- 6.32%
- 1Y
- -14.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWL
- 1D
- -1.37%
- 1M
- -1.88%
- YTD
- 6.83%
- 6M
- 5.97%
- 1Y
- 23.48%
- 3Y*
- 21.53%
- 5Y*
- 13.60%
- 10Y*
- 16.38%
QQQD vs. IWL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 4.24% | -20.32% | -27.75% |
IWL iShares Russell Top 200 ETF | 6.83% | 19.09% | 18.09% |
Correlation
The correlation between QQQD and IWL is -0.86, 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 (1Y) Calculated over the trailing 1-year period | -0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | -0.85 |
The correlation between QQQD and IWL has been stable across timeframes, ranging from -0.86 to -0.85 - a consistent structural relationship.
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Return for Risk
QQQD vs. IWL — Risk / Return Rank
QQQD
IWL
QQQD vs. IWL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) and iShares Russell Top 200 ETF (IWL). 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.
| QQQD | IWL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.54 | ||
| Sortino ratioReturn per unit of downside risk | -3.43 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.33 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 2.40 | -3.04 |
| Martin ratioReturn relative to average drawdown | -1.01 | 10.25 | -11.26 |
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Drawdowns
QQQD vs. IWL - Drawdown Comparison
The maximum QQQD drawdown since its inception was -49.47%, which is greater than IWL's maximum drawdown of -32.71%. Use the drawdown chart below to compare losses from any high point for QQQD and IWL.
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Drawdown Indicators
| QQQD | IWL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.47% | -32.71% | -16.76% |
Max Drawdown (1Y)Largest decline over 1 year | -22.92% | -9.83% | -13.09% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.15% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.71% | — |
Current DrawdownCurrent decline from peak | -43.64% | -3.71% | -39.93% |
Average DrawdownAverage peak-to-trough decline | -30.63% | -3.88% | -26.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.98% | 2.30% | +12.68% |
Volatility
QQQD vs. IWL - Volatility Comparison
Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a higher volatility of 7.17% compared to iShares Russell Top 200 ETF (IWL) at 5.02%. This indicates that QQQD's price experiences larger fluctuations and is considered to be riskier than IWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQD | IWL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.17% | 5.02% | +2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 15.65% | 10.11% | +5.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.89% | 12.89% | +8.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.85% | 17.28% | +9.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.85% | 18.11% | +8.74% |
QQQD vs. IWL - Expense Ratio Comparison
QQQD has a 0.57% expense ratio, which is higher than IWL's 0.15% expense ratio.
Dividends
QQQD vs. IWL - Dividend Comparison
QQQD's dividend yield for the trailing twelve months is around 3.79%, more than IWL's 0.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWL iShares Russell Top 200 ETF | 0.87% | 0.90% | 1.04% | 1.30% | 1.54% | 1.12% | 1.30% | 1.96% | 1.93% | 1.69% | 1.96% | 2.14% |
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 3.79% | 4.33% | 5.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QQQD and IWL have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQD has higher volatility (7.17%) compared to IWL (5.02%). In terms of maximum drawdown, QQQD dropped -49.47% vs IWL's -32.71%.
On 1-year performance, IWL leads with 23.48% vs -14.61% for QQQD. On fees, IWL is cheaper at 0.15% per year. On volatility, IWL has been the lower-risk option at 5.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWL has performed better with a 23.48% return vs -14.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWL is cheaper with a 0.15% expense ratio, compared with 0.57% for QQQD.
QQQD has the higher dividend yield at 3.79%, compared with 0.87% for IWL.
QQQD is categorized as Inverse Equities, while IWL is Large Cap Growth Equities. QQQD tracks Indxx Magnificent 7 Index (-100%), while IWL tracks Russell Top 200 Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.57% for QQQD and 0.15% for IWL.
IWL currently has the higher Sharpe Ratio (1.83 vs -0.71), 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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