QQQD vs. MUD

Last updated Jun 4, 2026

QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) and MUD (Direxion Daily MU Bear 1X Shares) are both Inverse Equities funds from Direxion. QQQD is passively managed, while MUD is actively managed. Over the past year, QQQD returned -21.80% vs -93.79% for MUD. At a 0.46 correlation, their price movements are largely independent. QQQD charges 0.57%/yr vs 0.97%/yr for MUD.

Performance

QQQD vs. MUD - Performance Comparison

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

Returns By Period

In the year-to-date period, QQQD achieves a -2.89% return, which is significantly higher than MUD's -79.28% return.

QQQD

• 1D: 1.38%
• 1M: -1.88%
• YTD: -2.89%
• 6M: -2.43%
• 1Y: -21.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUD

• 1D: -2.75%
• 1M: -54.21%
• YTD: -79.28%
• 6M: -83.14%
• 1Y: -93.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQD vs. MUD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQD Direxion Daily Magnificent 7 Bear 1X Shares	-2.89%	-20.32%	-13.05%
MUD Direxion Daily MU Bear 1X Shares	-79.28%	-78.75%	19.12%

Correlation

The correlation between QQQD and MUD is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024	0.46

Return for Risk

QQQD vs. MUD — Risk / Return Rank

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

QQQD

QQQD Risk / Return Rank: 2
QQQD Sharpe Ratio Rank: 1
QQQD Sortino Ratio Rank: 1
QQQD Omega Ratio Rank: 2
QQQD Calmar Ratio Rank: 2
QQQD Martin Ratio Rank: 3

MUD

MUD Risk / Return Rank: 0
MUD Sharpe Ratio Rank: 0
MUD Sortino Ratio Rank: 0
MUD Omega Ratio Rank: 0
MUD Calmar Ratio Rank: 0
MUD Martin Ratio Rank: 1

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. MUD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) and Direxion Daily MU Bear 1X Shares (MUD). 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	MUD	Difference
Sharpe ratio Return per unit of total volatility	-1.08	-1.42	+0.34
Sortino ratio Return per unit of downside risk	-1.55	-4.41	+2.87
Omega ratio Gain probability vs. loss probability	0.83	0.52	+0.31
Calmar ratio Return relative to maximum drawdown	-0.82	-1.00	+0.18
Martin ratio Return relative to average drawdown	-1.23	-1.50	+0.27
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. MUD - Sharpe Ratio Comparison

The current QQQD Sharpe Ratio is -1.08, which is comparable to the MUD Sharpe Ratio of -1.42. The chart below compares the historical Sharpe Ratios of QQQD and MUD, 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	MUD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.08	-1.42	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	-0.86	-1.25	+0.39

Drawdowns

QQQD vs. MUD - Drawdown Comparison

The maximum QQQD drawdown since its inception was -49.47%, smaller than the maximum MUD drawdown of -96.19%. Use the drawdown chart below to compare losses from any high point for QQQD and MUD.

Drawdown Indicators

	QQQD	MUD	Difference
Max Drawdown Largest peak-to-trough decline	-49.47%	-96.19%	+46.72%
Max Drawdown (1Y) Largest decline over 1 year	-26.65%	-93.53%	+66.88%
Current Drawdown Current decline from peak	-47.50%	-96.19%	+48.69%
Average Drawdown Average peak-to-trough decline	-30.34%	-50.21%	+19.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.72%	62.67%	-44.95%

Volatility

QQQD vs. MUD - Volatility Comparison

The current volatility for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) is 4.76%, while Direxion Daily MU Bear 1X Shares (MUD) has a volatility of 32.00%. This indicates that QQQD experiences smaller price fluctuations and is considered to be less risky than MUD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQD	MUD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	32.00%	-27.24%
Volatility (6M) Calculated over the trailing 6-month period	14.43%	56.32%	-41.89%
Volatility (1Y) Calculated over the trailing 1-year period	20.21%	66.05%	-45.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.77%	67.13%	-40.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.77%	67.13%	-40.36%

QQQD vs. MUD - Expense Ratio Comparison

QQQD has a 0.57% expense ratio, which is lower than MUD's 0.97% expense ratio.

Dividends

QQQD vs. MUD - Dividend Comparison

QQQD's dividend yield for the trailing twelve months is around 4.07%, less than MUD's 28.45% yield.

Position	TTM	2025	2024
MUD Direxion Daily MU Bear 1X Shares	28.45%	9.21%	0.47%
QQQD Direxion Daily Magnificent 7 Bear 1X Shares	4.07%	4.33%	5.17%

Frequently Asked Questions

Can I hold both QQQD and MUD in my portfolio?

QQQD and MUD have a correlation of 0.41, 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 MUD?

MUD has higher volatility (32.00%) compared to QQQD (4.76%). In terms of maximum drawdown, QQQD dropped -49.47% vs MUD's -96.19%.

Which ETF is better, QQQD or MUD?

On 1-year performance, QQQD leads with -21.80% vs -93.79% for MUD. On fees, QQQD is cheaper at 0.57% per year. On volatility, QQQD has been the lower-risk option at 4.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQD or MUD?

Over the 1-year period, QQQD has performed better with a -21.80% return vs -93.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQD or MUD?

QQQD is cheaper with a 0.57% expense ratio, compared with 0.97% for MUD.

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

MUD has the higher dividend yield at 28.45%, compared with 4.07% for QQQD.

What is the main difference between QQQD and MUD?

Their fees differ too: 0.57% for QQQD and 0.97% for MUD.

Which has better risk-adjusted returns?

QQQD currently has the higher Sharpe Ratio (-1.08 vs -1.42), 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.