QQQD vs. SQQQ
QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - QQQD is a Inverse Equities fund tracking the Indxx Magnificent 7 Index (-100%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past year, QQQD returned -21.80% vs -65.16% for SQQQ. Their correlation of 0.88 suggests significant overlap in exposure. QQQD charges 0.57%/yr vs 0.95%/yr for SQQQ.
Performance
QQQD vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, QQQD achieves a -2.89% return, which is significantly higher than SQQQ's -45.27% return.
QQQD
- 1D
- 1.38%
- 1M
- -1.88%
- YTD
- -2.89%
- 6M
- -2.43%
- 1Y
- -21.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ
- 1D
- 0.76%
- 1M
- -26.37%
- YTD
- -45.27%
- 6M
- -42.79%
- 1Y
- -65.16%
- 3Y*
- -56.19%
- 5Y*
- -49.17%
- 10Y*
- -56.01%
QQQD vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | -2.89% | -20.32% | -27.69% |
SQQQ ProShares UltraPro Short QQQ | -45.27% | -53.05% | -35.74% |
Correlation
The correlation between QQQD and SQQQ is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024 | 0.88 |
The correlation between QQQD and SQQQ has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.
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Return for Risk
QQQD vs. SQQQ — Risk / Return Rank
QQQD
SQQQ
QQQD vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.72 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.99 | +0.17 |
| Martin ratioReturn relative to average drawdown | -1.23 | -1.82 | +0.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QQQD | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | -1.37 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.74 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.86 | -0.88 | +0.02 |
Drawdowns
QQQD vs. SQQQ - Drawdown Comparison
The maximum QQQD drawdown since its inception was -49.47%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QQQD and SQQQ.
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Drawdown Indicators
| QQQD | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.47% | -100.00% | +50.53% |
Max Drawdown (1Y)Largest decline over 1 year | -26.65% | -65.95% | +39.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -92.38% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.98% | — |
Current DrawdownCurrent decline from peak | -47.50% | -100.00% | +52.50% |
Average DrawdownAverage peak-to-trough decline | -30.34% | -92.40% | +62.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.72% | 35.73% | -18.01% |
Volatility
QQQD vs. SQQQ - Volatility Comparison
The current volatility for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) is 4.76%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.75%. This indicates that QQQD experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQD | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 13.75% | -8.99% |
Volatility (6M)Calculated over the trailing 6-month period | 14.43% | 36.45% | -22.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.21% | 47.79% | -27.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.77% | 66.64% | -39.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.77% | 66.11% | -39.34% |
QQQD vs. SQQQ - Expense Ratio Comparison
QQQD has a 0.57% expense ratio, which is lower than SQQQ's 0.95% expense ratio.
Dividends
QQQD vs. SQQQ - Dividend Comparison
QQQD's dividend yield for the trailing twelve months is around 4.07%, less than SQQQ's 12.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 4.07% | 4.33% | 5.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 12.48% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
QQQD and SQQQ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (13.75%) compared to QQQD (4.76%). In terms of maximum drawdown, QQQD dropped -49.47% vs SQQQ's -100.00%.
On 1-year performance, QQQD leads with -21.80% vs -65.16% for SQQQ. 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.
Over the 1-year period, QQQD has performed better with a -21.80% return vs -65.16%. 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 0.95% for SQQQ.
SQQQ has the higher dividend yield at 12.48%, compared with 4.07% for QQQD.
QQQD is categorized as Inverse Equities, while SQQQ is Leveraged Equities. QQQD tracks Indxx Magnificent 7 Index (-100%), while SQQQ tracks NASDAQ-100 Index (-300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.57% for QQQD and 0.95% for SQQQ.
QQQD currently has the higher Sharpe Ratio (-1.08 vs -1.37), 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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