QQQD vs. MAGX

Last updated Jun 3, 2026

QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) and MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) are both exchange-traded funds - QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%), while MAGX is a Leveraged Equities fund actively managed by Roundhill. QQQD is passively managed, while MAGX is actively managed. Over the past year, QQQD returned -23.09% vs 56.81% for MAGX. At a correlation of -0.98, they often move in opposite directions. QQQD charges 0.57%/yr vs 0.95%/yr for MAGX.

Performance

QQQD vs. MAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) and Roundhill Daily 2X Long Magnificent Seven ETF (MAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQD achieves a -4.21% return, which is significantly lower than MAGX's 4.18% return.

QQQD

• 1D: 0.82%
• 1M: -3.13%
• YTD: -4.21%
• 6M: -3.61%
• 1Y: -23.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAGX

• 1D: -1.88%
• 1M: 5.70%
• YTD: 4.18%
• 6M: 3.62%
• 1Y: 56.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQD vs. MAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQD Direxion Daily Magnificent 7 Bear 1X Shares	-4.21%	-20.32%	-27.69%
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	4.18%	26.16%	75.36%

Correlation

The correlation between QQQD and MAGX is -0.98, 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	-0.98
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	-0.98

The correlation between QQQD and MAGX has been stable across timeframes, ranging from -0.98 to -0.98 - a consistent structural relationship.

Return for Risk

QQQD vs. MAGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQD

QQQD Risk / Return Rank: 1
QQQD Sharpe Ratio Rank: 1
QQQD Sortino Ratio Rank: 1
QQQD Omega Ratio Rank: 1
QQQD Calmar Ratio Rank: 1
QQQD Martin Ratio Rank: 2

MAGX

MAGX Risk / Return Rank: 35
MAGX Sharpe Ratio Rank: 40
MAGX Sortino Ratio Rank: 37
MAGX Omega Ratio Rank: 37
MAGX Calmar Ratio Rank: 31
MAGX Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QQQD vs. MAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) and Roundhill Daily 2X Long Magnificent Seven ETF (MAGX). 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.

	QQQD	MAGX	Difference
Sharpe ratio Return per unit of total volatility	-1.15	1.44	-2.58
Sortino ratio Return per unit of downside risk	-1.66	1.95	-3.61
Omega ratio Gain probability vs. loss probability	0.82	1.24	-0.42
Calmar ratio Return relative to maximum drawdown	-0.89	1.56	-2.44
Martin ratio Return relative to average drawdown	-1.34	4.80	-6.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQD vs. MAGX - Sharpe Ratio Comparison

The current QQQD Sharpe Ratio is -1.15, which is lower than the MAGX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of QQQD and MAGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQQD	MAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.15	1.44	-2.58
Sharpe Ratio (All Time) Calculated using the full available price history	-0.88	0.88	-1.76

Drawdowns

QQQD vs. MAGX - Drawdown Comparison

The maximum QQQD drawdown since its inception was -49.47%, smaller than the maximum MAGX drawdown of -54.19%. Use the drawdown chart below to compare losses from any high point for QQQD and MAGX.

Drawdown Indicators

	QQQD	MAGX	Difference
Max Drawdown Largest peak-to-trough decline	-49.47%	-54.19%	+4.72%
Max Drawdown (1Y) Largest decline over 1 year	-26.65%	-37.24%	+10.59%
Current Drawdown Current decline from peak	-48.21%	-5.04%	-43.17%
Average Drawdown Average peak-to-trough decline	-30.31%	-13.79%	-16.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.65%	12.08%	+5.57%

Volatility

QQQD vs. MAGX - Volatility Comparison

The current volatility for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) is 4.51%, while Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a volatility of 8.74%. This indicates that QQQD experiences smaller price fluctuations and is considered to be less risky than MAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQD	MAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	8.74%	-4.23%
Volatility (6M) Calculated over the trailing 6-month period	14.36%	28.69%	-14.33%
Volatility (1Y) Calculated over the trailing 1-year period	20.16%	39.79%	-19.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.78%	53.53%	-26.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.78%	53.53%	-26.75%

QQQD vs. MAGX - Expense Ratio Comparison

QQQD has a 0.57% expense ratio, which is lower than MAGX's 0.95% expense ratio.

Dividends

QQQD vs. MAGX - Dividend Comparison

QQQD's dividend yield for the trailing twelve months is around 4.12%, more than MAGX's 1.97% yield.

Position	TTM	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	1.97%	2.05%	0.86%
QQQD Direxion Daily Magnificent 7 Bear 1X Shares	4.12%	4.33%	5.17%

Frequently Asked Questions

Can I hold both QQQD and MAGX in my portfolio?

QQQD and MAGX have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQD or MAGX?

MAGX has higher volatility (8.74%) compared to QQQD (4.51%). In terms of maximum drawdown, QQQD dropped -49.47% vs MAGX's -54.19%.

Which ETF is better, QQQD or MAGX?

On 1-year performance, MAGX leads with 56.81% vs -23.09% for QQQD. On fees, QQQD is cheaper at 0.57% per year. On volatility, QQQD has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQD or MAGX?

Over the 1-year period, MAGX has performed better with a 56.81% return vs -23.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQD or MAGX?

QQQD is cheaper with a 0.57% expense ratio, compared with 0.95% for MAGX.

Which ETF pays a higher dividend yield, QQQD or MAGX?

QQQD has the higher dividend yield at 4.12%, compared with 1.97% for MAGX.

What is the main difference between QQQD and MAGX?

QQQD is categorized as Inverse Equities, while MAGX is Leveraged Equities. They also come from different issuers: Direxion and Roundhill. Their fees differ too: 0.57% for QQQD and 0.95% for MAGX.

Which has better risk-adjusted returns?

MAGX currently has the higher Sharpe Ratio (1.44 vs -1.15), 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.