QQQD vs. IWY
QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) and IWY (iShares Russell Top 200 Growth ETF) are both exchange-traded funds - QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%), while IWY is a Large Cap Growth Equities fund tracking the Russell Top 200 Growth Index. Both are passively managed. Over the past year, QQQD returned -12.65% vs 16.91% for IWY. At a correlation of -0.91, they often move in opposite directions. QQQD charges 0.57%/yr vs 0.20%/yr for IWY.
Performance
QQQD vs. IWY - Performance Comparison
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Returns By Period
In the year-to-date period, QQQD achieves a 5.92% return, which is significantly higher than IWY's 1.19% return.
QQQD
- 1D
- 0.97%
- 1M
- 10.75%
- YTD
- 5.92%
- 6M
- 8.00%
- 1Y
- -12.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWY
- 1D
- -0.28%
- 1M
- -4.55%
- YTD
- 1.19%
- 6M
- -0.22%
- 1Y
- 16.91%
- 3Y*
- 22.20%
- 5Y*
- 14.11%
- 10Y*
- 19.31%
QQQD vs. IWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 5.92% | -20.32% | -27.75% |
IWY iShares Russell Top 200 Growth ETF | 1.19% | 18.19% | 23.64% |
Correlation
The correlation between QQQD and IWY is -0.90, 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 | -0.90 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | -0.91 |
The correlation between QQQD and IWY has been stable across timeframes, ranging from -0.91 to -0.90 - a consistent structural relationship.
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Return for Risk
QQQD vs. IWY — Risk / Return Rank
QQQD
IWY
QQQD vs. IWY - 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 Growth ETF (IWY). 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 | IWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.19 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.02 | -1.58 |
| Martin ratioReturn relative to average drawdown | -0.89 | 3.23 | -4.12 |
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Drawdowns
QQQD vs. IWY - Drawdown Comparison
The maximum QQQD drawdown since its inception was -49.47%, which is greater than IWY's maximum drawdown of -32.68%. Use the drawdown chart below to compare losses from any high point for QQQD and IWY.
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Drawdown Indicators
| QQQD | IWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.47% | -32.68% | -16.79% |
Max Drawdown (1Y)Largest decline over 1 year | -22.72% | -16.63% | -6.09% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.22% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.68% | — |
Current DrawdownCurrent decline from peak | -42.73% | -7.33% | -35.40% |
Average DrawdownAverage peak-to-trough decline | -30.65% | -4.75% | -25.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.48% | 5.24% | +9.24% |
Volatility
QQQD vs. IWY - Volatility Comparison
Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a higher volatility of 7.24% compared to iShares Russell Top 200 Growth ETF (IWY) at 6.07%. This indicates that QQQD's price experiences larger fluctuations and is considered to be riskier than IWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQD | IWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.24% | 6.07% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 15.69% | 12.54% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.86% | 16.28% | +4.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.85% | 21.60% | +5.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.85% | 21.02% | +5.83% |
QQQD vs. IWY - Expense Ratio Comparison
QQQD has a 0.57% expense ratio, which is higher than IWY's 0.20% expense ratio.
Dividends
QQQD vs. IWY - Dividend Comparison
QQQD's dividend yield for the trailing twelve months is around 2.90%, more than IWY's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWY iShares Russell Top 200 Growth ETF | 0.36% | 0.36% | 0.42% | 0.68% | 0.88% | 0.50% | 0.71% | 1.06% | 1.32% | 1.26% | 1.51% | 1.58% |
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 2.90% | 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 IWY have a correlation of -0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQD has higher volatility (7.24%) compared to IWY (6.07%). In terms of maximum drawdown, QQQD dropped -49.47% vs IWY's -32.68%.
On 1-year performance, IWY leads with 16.91% vs -12.65% for QQQD. On fees, IWY is cheaper at 0.20% per year. On volatility, IWY has been the lower-risk option at 6.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWY has performed better with a 16.91% return vs -12.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWY is cheaper with a 0.20% expense ratio, compared with 0.57% for QQQD.
QQQD has the higher dividend yield at 2.90%, compared with 0.36% for IWY.
QQQD is categorized as Inverse Equities, while IWY is Large Cap Growth Equities. QQQD tracks Indxx Magnificent 7 Index (-100%), while IWY tracks Russell Top 200 Growth Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.57% for QQQD and 0.20% for IWY.
IWY currently has the higher Sharpe Ratio (1.05 vs -0.61), 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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