QQQD vs. QYLD
QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%), while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. Both are passively managed. Over the past year, QQQD returned -14.09% vs 20.66% for QYLD. Their -0.76 correlation means they have often moved in opposite directions in the past. QQQD charges 0.57%/yr vs 0.60%/yr for QYLD.
Performance
QQQD vs. QYLD - Performance Comparison
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Returns By Period
In the year-to-date period, QQQD achieves a 0.46% return, which is significantly lower than QYLD's 7.67% return.
QQQD
- 1D
- -3.23%
- 1M
- -1.45%
- 6M
- 0.57%
- YTD
- 0.46%
- 1Y
- -14.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -20.41%
QYLD
- 1D
- 0.65%
- 1M
- -0.98%
- 6M
- 5.88%
- YTD
- 7.67%
- 1Y
- 20.66%
- 3Y*
- 12.32%
- 5Y*
- 7.83%
- 10Y*
- 9.59%
- ALL TIME*
- 8.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.12M | $1.26M | $1.70M | |
| $83.30M | $78.68M | $98.28M |
QQQD vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 0.46% | -20.32% | -27.75% |
QYLD Global X NASDAQ 100 Covered Call ETF | 7.67% | 9.28% | 13.38% |
Correlation
The correlation between QQQD and QYLD is -0.73, 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. | -0.73 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | -0.76 |
The correlation between QQQD and QYLD has been stable across timeframes, ranging from -0.76 to -0.73 - a consistent structural relationship.
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Return for Risk
QQQD vs. QYLD — Risk / Return Rank
QQQD
QYLD
QQQD vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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 | QYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.24 | ||
| Sortino ratioReturn per unit of downside risk | -3.08 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.35 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 3.38 | -3.89 |
| Martin ratioReturn relative to average drawdown | -0.85 | 15.70 | -16.56 |
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Drawdowns
QQQD vs. QYLD - Drawdown Comparison
The maximum QQQD drawdown since its inception was -49.47%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for QQQD and QYLD.
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Drawdown Indicators
| QQQD | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.47% | -24.75% | -24.72% |
Max Drawdown (1Y)Largest decline over 1 year | -21.94% | -5.78% | -16.16% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.75% | — |
Current DrawdownCurrent decline from peak | -45.68% | -2.96% | -42.72% |
Average DrawdownAverage peak-to-trough decline | -31.27% | -3.81% | -27.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 1.24% | +11.95% |
Volatility
QQQD vs. QYLD - Volatility Comparison
Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a higher volatility of 8.15% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 5.19%. This indicates that QQQD's price experiences larger fluctuations and is considered to be riskier than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQD | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 5.19% | +2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 17.57% | 10.04% | +7.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.50% | 11.26% | +11.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.94% | 15.04% | +11.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.94% | 15.63% | +11.31% |
QQQD vs. QYLD - Expense Ratio Comparison
QQQD has a 0.57% expense ratio, which is lower than QYLD's 0.60% expense ratio.
Dividends
QQQD vs. QYLD - Dividend Comparison
QQQD's dividend yield for the trailing twelve months is around 3.06%, less than QYLD's 11.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 3.06% | 4.33% | 5.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.89% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
Frequently Asked Questions
QQQD and QYLD have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQD has higher volatility (8.15%) compared to QYLD (5.19%). In terms of maximum drawdown, QQQD dropped -49.47% vs QYLD's -24.75%.
On 1-year performance, QYLD leads with 20.66% vs -14.09% for QQQD. On fees, QQQD is cheaper at 0.57% per year. On volatility, QYLD has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QYLD has performed better with a 20.66% return vs -14.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQD is cheaper with a 0.57% expense ratio, compared with 0.60% for QYLD.
QYLD has the higher dividend yield at 11.89%, compared with 3.06% for QQQD.
QQQD is categorized as Inverse Equities, while QYLD is Nasdaq-100. QQQD tracks Indxx Magnificent 7 Index (-100%), while QYLD tracks CBOE NASDAQ-100 Buy Write V2. They also come from different issuers: Direxion and Global X. Their fees differ too: 0.57% for QQQD and 0.60% for QYLD.
QYLD currently has the higher Sharpe Ratio (1.73 vs -0.50), 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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