RWM vs. QQQD
RWM (ProShares Short Russell2000) and QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) are both Inverse Equities funds - RWM tracks the Russell 2000 (-100%) while QQQD tracks the Indxx Magnificent 7 Index (-100%). Both are passively managed. Over the past year, RWM returned -26.16% vs -17.22% for QQQD. Their 0.53 correlation means they have sometimes moved together and sometimes differently. RWM charges 0.95%/yr vs 0.57%/yr for QQQD.
Performance
RWM vs. QQQD - Performance Comparison
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Returns By Period
In the year-to-date period, RWM achieves a -16.04% return, which is significantly lower than QQQD's -3.21% return.
RWM
- 1D
- -1.60%
- 1M
- 0.82%
- 6M
- -10.93%
- YTD
- -16.04%
- 1Y
- -26.16%
- 3Y*
- -11.17%
- 5Y*
- -6.29%
- 10Y*
- -11.48%
- ALL TIME*
- -12.05%
QQQD
- 1D
- -3.65%
- 1M
- -5.05%
- 6M
- -3.32%
- YTD
- -3.21%
- 1Y
- -17.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -21.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.19M | $1.24M | $1.71M | |
| $356.63M | $306.99M | $253.47M |
RWM vs. QQQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RWM ProShares Short Russell2000 | -16.04% | -9.40% | -4.56% |
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | -3.21% | -20.32% | -27.75% |
Correlation
The correlation between RWM and QQQD is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | 0.53 |
The correlation between RWM and QQQD has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.
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Return for Risk
RWM vs. QQQD — Risk / Return Rank
RWM
QQQD
RWM vs. QQQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Russell2000 (RWM) and Direxion Daily Magnificent 7 Bear 1X Shares (QQQD). 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.
| RWM | QQQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.89 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | -0.79 | -0.22 |
| Martin ratioReturn relative to average drawdown | -1.68 | -1.37 | -0.31 |
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Drawdowns
RWM vs. QQQD - Drawdown Comparison
The maximum RWM drawdown since its inception was -95.61%, which is greater than QQQD's maximum drawdown of -49.47%. Use the drawdown chart below to compare losses from any high point for RWM and QQQD.
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Drawdown Indicators
| RWM | QQQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.61% | -49.47% | -46.14% |
Max Drawdown (1Y)Largest decline over 1 year | -25.97% | -21.94% | -4.03% |
Max Drawdown (3Y)Largest decline over 3 years | -43.12% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -43.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -72.51% | — | — |
Current DrawdownCurrent decline from peak | -95.52% | -47.67% | -47.85% |
Average DrawdownAverage peak-to-trough decline | -74.21% | -31.29% | -42.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.24% | 13.25% | +3.99% |
Volatility
RWM vs. QQQD - Volatility Comparison
The current volatility for ProShares Short Russell2000 (RWM) is 4.04%, while Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a volatility of 8.82%. This indicates that RWM experiences smaller price fluctuations and is considered to be less risky than QQQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWM | QQQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 8.82% | -4.78% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 17.95% | -3.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 22.54% | -3.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.52% | 27.02% | -4.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.10% | 27.02% | -3.92% |
RWM vs. QQQD - Expense Ratio Comparison
RWM has a 0.95% expense ratio, which is higher than QQQD's 0.57% expense ratio.
Dividends
RWM vs. QQQD - Dividend Comparison
RWM's dividend yield for the trailing twelve months is around 3.80%, more than QQQD's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QQQD Direxion Daily Magnificent 7 Bear 1X Shares | 3.18% | 4.33% | 5.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RWM ProShares Short Russell2000 | 3.80% | 3.97% | 6.03% | 4.78% | 0.39% | 0.00% | 0.20% | 1.55% | 0.87% | 0.07% |
Frequently Asked Questions
RWM and QQQD have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQD has higher volatility (8.82%) compared to RWM (4.04%). In terms of maximum drawdown, RWM dropped -95.61% vs QQQD's -49.47%.
On 1-year performance, QQQD leads with -17.22% vs -26.16% for RWM. On fees, QQQD is cheaper at 0.57% per year. On volatility, RWM has been the lower-risk option at 4.04%. 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 -17.22% return vs -26.16%. 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 RWM.
RWM has the higher dividend yield at 3.80%, compared with 3.18% for QQQD.
RWM tracks Russell 2000 (-100%), while QQQD tracks Indxx Magnificent 7 Index (-100%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for RWM and 0.57% for QQQD.
QQQD currently has the higher Sharpe Ratio (-0.77 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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