QQQD vs. SPUU
QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both exchange-traded funds - QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%), while SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily). Both are passively managed. Over the past year, QQQD returned -14.09% vs 38.14% for SPUU. Their -0.81 correlation means they have often moved in opposite directions in the past. QQQD charges 0.57%/yr vs 0.60%/yr for SPUU.
Performance
QQQD vs. SPUU - 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 SPUU's 16.72% return.
QQQD
- 1D
- -3.23%
- 1M
- -1.45%
- 6M
- 0.57%
- YTD
- 0.46%
- 1Y
- -14.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -20.41%
SPUU
- 1D
- 1.52%
- 1M
- 0.24%
- 6M
- 14.02%
- YTD
- 16.72%
- 1Y
- 38.14%
- 3Y*
- 31.33%
- 5Y*
- 17.73%
- 10Y*
- 23.82%
- ALL TIME*
- 21.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.12M | $1.26M | $1.70M | |
| $4.20M | $4.55M | $4.33M |
QQQD vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 0.46% | -20.32% | -27.75% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 16.72% | 26.55% | 27.09% |
Correlation
The correlation between QQQD and SPUU is -0.83, 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. | -0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | -0.81 |
The correlation between QQQD and SPUU has been stable across timeframes, ranging from -0.83 to -0.81 - a consistent structural relationship.
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Return for Risk
QQQD vs. SPUU — Risk / Return Rank
QQQD
SPUU
QQQD vs. SPUU - 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 S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.23 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 1.85 | -2.36 |
| Martin ratioReturn relative to average drawdown | -0.85 | 7.47 | -8.32 |
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Drawdowns
QQQD vs. SPUU - Drawdown Comparison
The maximum QQQD drawdown since its inception was -49.47%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for QQQD and SPUU.
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Drawdown Indicators
| QQQD | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.47% | -59.35% | +9.88% |
Max Drawdown (1Y)Largest decline over 1 year | -21.94% | -18.19% | -3.75% |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -45.68% | -3.83% | -41.85% |
Average DrawdownAverage peak-to-trough decline | -31.27% | -9.44% | -21.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 4.51% | +8.68% |
Volatility
QQQD vs. SPUU - Volatility Comparison
Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a higher volatility of 8.15% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.10%. This indicates that QQQD's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQD | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 7.10% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 17.57% | 20.38% | -2.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.50% | 25.88% | -3.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.94% | 33.70% | -6.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.94% | 35.79% | -8.85% |
QQQD vs. SPUU - Expense Ratio Comparison
QQQD has a 0.57% expense ratio, which is lower than SPUU's 0.60% expense ratio.
Dividends
QQQD vs. SPUU - Dividend Comparison
QQQD's dividend yield for the trailing twelve months is around 3.06%, more than SPUU's 1.34% 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% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.34% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
QQQD and SPUU have a correlation of -0.83, 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 SPUU (7.10%). In terms of maximum drawdown, QQQD dropped -49.47% vs SPUU's -59.35%.
On 1-year performance, SPUU leads with 38.14% vs -14.09% for QQQD. On fees, QQQD is cheaper at 0.57% per year. On volatility, SPUU has been the lower-risk option at 7.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPUU has performed better with a 38.14% 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 SPUU.
QQQD has the higher dividend yield at 3.06%, compared with 1.34% for SPUU.
QQQD is categorized as Inverse Equities, while SPUU is Leveraged Equities. QQQD tracks Indxx Magnificent 7 Index (-100%), while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 0.57% for QQQD and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.30 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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