QQQD vs. ONEQ
Compare and contrast key facts about Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).
QQQD and ONEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQD is a passively managed fund by Direxion that tracks the performance of the Indxx Magnificent 7 Index (-100%). It was launched on Mar 6, 2024. ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003. Both QQQD and ONEQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QQQD or ONEQ.
Correlation
The correlation between QQQD and ONEQ is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
QQQD vs. ONEQ - Performance Comparison
Key characteristics
QQQD:
-0.66
ONEQ:
0.44
QQQD:
-0.80
ONEQ:
0.79
QQQD:
0.90
ONEQ:
1.11
QQQD:
-0.59
ONEQ:
0.47
QQQD:
-1.00
ONEQ:
1.65
QQQD:
21.60%
ONEQ:
6.91%
QQQD:
32.62%
ONEQ:
25.78%
QQQD:
-36.25%
ONEQ:
-55.09%
QQQD:
-23.44%
ONEQ:
-13.78%
Returns By Period
In the year-to-date period, QQQD achieves a 12.83% return, which is significantly higher than ONEQ's -9.95% return.
QQQD
12.83%
-0.47%
0.87%
-21.66%
N/A
N/A
ONEQ
-9.95%
-2.91%
-5.97%
11.97%
16.22%
14.32%
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QQQD vs. ONEQ - Expense Ratio Comparison
QQQD has a 0.57% expense ratio, which is higher than ONEQ's 0.21% expense ratio.
Risk-Adjusted Performance
QQQD vs. ONEQ — Risk-Adjusted Performance Rank
QQQD
ONEQ
QQQD vs. ONEQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ). 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.
Dividends
QQQD vs. ONEQ - Dividend Comparison
QQQD's dividend yield for the trailing twelve months is around 5.31%, more than ONEQ's 0.70% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 5.31% | 5.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.70% | 0.65% | 0.71% | 0.97% | 0.54% | 0.71% | 1.64% | 1.08% | 0.84% | 1.12% | 1.04% | 1.19% |
Drawdowns
QQQD vs. ONEQ - Drawdown Comparison
The maximum QQQD drawdown since its inception was -36.25%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for QQQD and ONEQ. For additional features, visit the drawdowns tool.
Volatility
QQQD vs. ONEQ - Volatility Comparison
Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a higher volatility of 21.28% compared to Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) at 17.23%. This indicates that QQQD's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.