SBB vs. QQQD

Last updated Jul 16, 2026

SBB (ProShares Short SmallCap600) and QQQD (Direxion Daily Magnificent 7 Bear 1X Shares) are both Inverse Equities funds - SBB tracks the S&P SmallCap 600 Index (-100%) while QQQD tracks the Indxx Magnificent 7 Index (-100%). Both are passively managed. Over the past year, SBB returned -22.35% vs -17.81% for QQQD. At a 0.45 correlation, their price movements are largely independent. SBB charges 0.95%/yr vs 0.57%/yr for QQQD.

Performance

SBB vs. QQQD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short SmallCap600 (SBB) and Direxion Daily Magnificent 7 Bear 1X Shares (QQQD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBB achieves a -16.75% return, which is significantly lower than QQQD's -3.83% return.

SBB

• 1D: -0.47%
• 1M: -1.62%
• 6M: -11.93%
• YTD: -16.75%
• 1Y: -22.35%
• 3Y*: -10.00%
• 5Y*: -6.66%
• 10Y*: -11.75%

QQQD

• 1D: -2.38%
• 1M: -3.43%
• 6M: -5.40%
• YTD: -3.83%
• 1Y: -17.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SBB vs. QQQD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBB ProShares Short SmallCap600	-16.75%	-3.56%	-5.33%
QQQD Direxion Daily Magnificent 7 Bear 1X Shares	-3.83%	-20.32%	-27.75%

Correlation

The correlation between SBB and QQQD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.45

Return for Risk

SBB vs. QQQD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SBB

SBB Risk / Return Rank: 1
SBB Sharpe Ratio Rank: 0
SBB Sortino Ratio Rank: 1
SBB Omega Ratio Rank: 1
SBB Calmar Ratio Rank: 2
SBB Martin Ratio Rank: 1

QQQD

QQQD Risk / Return Rank: 3
QQQD Sharpe Ratio Rank: 3
QQQD Sortino Ratio Rank: 3
QQQD Omega Ratio Rank: 3
QQQD Calmar Ratio Rank: 3
QQQD Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SBB vs. QQQD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) 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.

	SBB	QQQD	Difference
Sharpe ratio: Return per unit of total volatility	-1.27	-0.83	-0.44
Sortino ratio: Return per unit of downside risk	-1.73	-1.13	-0.60
Omega ratio: Gain probability vs. loss probability	0.80	0.88	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.88	-0.81	-0.07
Martin ratio: Return relative to average drawdown	-1.61	-1.39	-0.21

SBB vs. QQQD - Sharpe Ratio Comparison

The current SBB Sharpe Ratio is -1.27, which is lower than the QQQD Sharpe Ratio of -0.83. The chart below compares the historical Sharpe Ratios of SBB and QQQD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SBB vs. QQQD - Drawdown Comparison

The maximum SBB drawdown since its inception was -95.99%, which is greater than QQQD's maximum drawdown of -49.47%. Use the drawdown chart below to compare losses from any high point for SBB and QQQD.

Drawdown Indicators

	SBB	QQQD	Difference
Max Drawdown Largest peak-to-trough decline	-95.99%	-49.47%	-46.52%
Max Drawdown (1Y) Largest decline over 1 year	-25.50%	-21.94%	-3.56%
Max Drawdown (3Y) Largest decline over 3 years	-38.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.24%	—	—
Current Drawdown Current decline from peak	-95.92%	-48.00%	-47.92%
Average Drawdown Average peak-to-trough decline	-74.64%	-30.99%	-43.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.92%	12.82%	+1.10%

Volatility

SBB vs. QQQD - Volatility Comparison

The current volatility for ProShares Short SmallCap600 (SBB) is 4.00%, while Direxion Daily Magnificent 7 Bear 1X Shares (QQQD) has a volatility of 8.05%. This indicates that SBB 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.

Volatility by Period

	SBB	QQQD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	8.05%	-4.05%
Volatility (6M) Calculated over the trailing 6-month period	12.35%	16.75%	-4.40%
Volatility (1Y) Calculated over the trailing 1-year period	17.80%	21.46%	-3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	26.83%	-5.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	26.83%	-3.61%

SBB vs. QQQD - Expense Ratio Comparison

SBB has a 0.95% expense ratio, which is higher than QQQD's 0.57% expense ratio.

Dividends

SBB vs. QQQD - Dividend Comparison

SBB's dividend yield for the trailing twelve months is around 3.73%, more than QQQD's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QQQD Direxion Daily Magnificent 7 Bear 1X Shares	3.20%	4.33%	5.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SBB ProShares Short SmallCap600	3.73%	3.44%	4.86%	4.64%	0.31%	0.00%	0.04%	1.20%	0.17%

Frequently Asked Questions

Can I hold both SBB and QQQD in my portfolio?

SBB and QQQD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBB or QQQD?

QQQD has higher volatility (8.05%) compared to SBB (4.00%). In terms of maximum drawdown, SBB dropped -95.99% vs QQQD's -49.47%.

Which ETF is better, SBB or QQQD?

On 1-year performance, QQQD leads with -17.81% vs -22.35% for SBB. On fees, QQQD is cheaper at 0.57% per year. On volatility, SBB has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBB or QQQD?

Over the 1-year period, QQQD has performed better with a -17.81% return vs -22.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBB or QQQD?

QQQD is cheaper with a 0.57% expense ratio, compared with 0.95% for SBB.

Which ETF pays a higher dividend yield, SBB or QQQD?

SBB has the higher dividend yield at 3.73%, compared with 3.20% for QQQD.

What is the main difference between SBB and QQQD?

SBB tracks S&P SmallCap 600 Index (-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 SBB and 0.57% for QQQD.

Which has better risk-adjusted returns?

QQQD currently has the higher Sharpe Ratio (-0.83 vs -1.27), 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.