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 -14.09% vs 20.97% for IWL. Their -0.85 correlation means they have often moved in opposite directions in the past. 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 0.46% return, which is significantly lower than IWL's 8.65% return.
QQQD
- 1D
- -3.23%
- 1M
- -1.45%
- 6M
- 0.57%
- YTD
- 0.46%
- 1Y
- -14.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -20.41%
IWL
- 1D
- 0.87%
- 1M
- 0.06%
- 6M
- 7.61%
- YTD
- 8.65%
- 1Y
- 20.97%
- 3Y*
- 20.19%
- 5Y*
- 13.23%
- 10Y*
- 15.89%
- ALL TIME*
- 14.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.92M | $7.26M | $9.02M | |
| $1.12M | $1.26M | $1.70M |
QQQD vs. IWL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 0.46% | -20.32% | -27.75% |
IWL iShares Russell Top 200 ETF | 8.65% | 19.09% | 18.09% |
Correlation
The correlation between QQQD and IWL is -0.87, 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. | -0.87 |
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 -0.87 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 | -1.91 | ||
| Sortino ratioReturn per unit of downside risk | -2.57 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.25 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 1.92 | -2.43 |
| Martin ratioReturn relative to average drawdown | -0.85 | 7.71 | -8.56 |
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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 | -21.94% | -9.83% | -12.11% |
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 | -45.68% | -2.07% | -43.61% |
Average DrawdownAverage peak-to-trough decline | -31.27% | -3.87% | -27.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 2.44% | +10.75% |
Volatility
QQQD vs. IWL - Volatility Comparison
Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a higher volatility of 8.15% compared to iShares Russell Top 200 ETF (IWL) at 4.00%. 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 | 8.15% | 4.00% | +4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 17.57% | 10.53% | +7.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.50% | 13.35% | +9.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.94% | 17.32% | +9.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.94% | 18.12% | +8.82% |
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 3.06%, more than IWL's 0.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWL iShares Russell Top 200 ETF | 0.85% | 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 | 3.06% | 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 -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQD has higher volatility (8.15%) compared to IWL (4.00%). In terms of maximum drawdown, QQQD dropped -49.47% vs IWL's -32.71%.
On 1-year performance, IWL leads with 20.97% vs -14.09% for QQQD. On fees, IWL is cheaper at 0.15% per year. On volatility, IWL has been the lower-risk option at 4.00%. 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 20.97% return vs -14.09%. 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 3.06%, compared with 0.85% 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 (1.41 vs -0.50), 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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