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 -17.22% vs 13.09% for IWY. Their -0.90 correlation means they have often moved in opposite directions in the past. 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 -3.21% return, which is significantly lower than IWY's 2.05% return.
QQQD
- 1D
- -3.65%
- 1M
- -5.05%
- 6M
- -3.32%
- YTD
- -3.21%
- 1Y
- -17.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -21.57%
IWY
- 1D
- 2.08%
- 1M
- -0.44%
- 6M
- 3.44%
- YTD
- 2.05%
- 1Y
- 13.09%
- 3Y*
- 21.58%
- 5Y*
- 13.04%
- 10Y*
- 18.48%
- ALL TIME*
- 16.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $126.50M | $102.92M | $112.82M | |
| $1.19M | $1.24M | $1.71M |
QQQD vs. IWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | -3.21% | -20.32% | -27.75% |
IWY iShares Russell Top 200 Growth ETF | 2.05% | 18.19% | 23.64% |
Correlation
The correlation between QQQD and IWY is -0.89, 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. | -0.89 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | -0.90 |
The correlation between QQQD and IWY has been stable across timeframes, ranging from -0.90 to -0.89 - 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 | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.15 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.14 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 0.79 | -1.58 |
| Martin ratioReturn relative to average drawdown | -1.37 | 2.29 | -3.67 |
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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 | -21.94% | -16.63% | -5.31% |
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 | -47.67% | -6.54% | -41.13% |
Average DrawdownAverage peak-to-trough decline | -31.29% | -4.76% | -26.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.25% | 5.72% | +7.53% |
Volatility
QQQD vs. IWY - Volatility Comparison
Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a higher volatility of 8.82% compared to iShares Russell Top 200 Growth ETF (IWY) at 7.11%. 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 | 8.82% | 7.11% | +1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 17.95% | 14.37% | +3.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.54% | 17.78% | +4.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.02% | 21.83% | +5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.02% | 21.15% | +5.87% |
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 3.18%, more than IWY's 0.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWY iShares Russell Top 200 Growth ETF | 0.35% | 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 | 3.18% | 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 -0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQD has higher volatility (8.82%) compared to IWY (7.11%). In terms of maximum drawdown, QQQD dropped -49.47% vs IWY's -32.68%.
On 1-year performance, IWY leads with 13.09% vs -17.22% for QQQD. On fees, IWY is cheaper at 0.20% per year. On volatility, IWY has been the lower-risk option at 7.11%. 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 13.09% return vs -17.22%. 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 3.18%, compared with 0.35% 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 (0.74 vs -0.77), 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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