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 -16.16% vs -57.13% for SQQQ. Their correlation of 0.86 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 -1.49% return, which is significantly higher than SQQQ's -42.24% return.
QQQD
- 1D
- -0.63%
- 1M
- -3.78%
- 6M
- -1.61%
- YTD
- -1.49%
- 1Y
- -16.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SQQQ
- 1D
- -3.30%
- 1M
- -1.98%
- 6M
- -38.99%
- YTD
- -42.24%
- 1Y
- -57.13%
- 3Y*
- -52.32%
- 5Y*
- -46.24%
- 10Y*
- -55.43%
QQQD vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | -1.49% | -20.32% | -27.75% |
SQQQ ProShares UltraPro Short QQQ | -42.24% | -53.05% | -38.49% |
Correlation
The correlation between QQQD and SQQQ is 0.81, 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 | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | 0.86 |
The correlation between QQQD and SQQQ has been stable across timeframes, ranging from 0.81 to 0.86 - 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.
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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.81 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.94 | +0.20 |
| Martin ratioReturn relative to average drawdown | -1.27 | -1.73 | +0.46 |
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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 | -21.94% | -61.03% | +39.09% |
Max Drawdown (3Y)Largest decline over 3 years | — | -92.51% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.27% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.97% | — |
Current DrawdownCurrent decline from peak | -46.74% | -100.00% | +53.26% |
Average DrawdownAverage peak-to-trough decline | -30.96% | -92.75% | +61.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.97% | 32.98% | -20.01% |
Volatility
QQQD vs. SQQQ - Volatility Comparison
The current volatility for Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) is 7.75%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 24.18%. 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 | 7.75% | 24.18% | -16.43% |
Volatility (6M)Calculated over the trailing 6-month period | 16.58% | 45.91% | -29.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.34% | 55.61% | -34.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.81% | 67.89% | -41.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.81% | 66.57% | -39.76% |
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 3.12%, less than SQQQ's 10.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 3.12% | 4.33% | 5.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 10.34% | 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 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (24.18%) compared to QQQD (7.75%). In terms of maximum drawdown, QQQD dropped -49.47% vs SQQQ's -100.00%.
On 1-year performance, QQQD leads with -16.16% vs -57.13% for SQQQ. On fees, QQQD is cheaper at 0.57% per year. On volatility, QQQD has been the lower-risk option at 7.75%. 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 -16.16% return vs -57.13%. 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 10.34%, compared with 3.12% 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 (-0.76 vs -1.03), 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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