# QCMD (Direxion Daily QCOM Bear 1X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: QCMD returned +11.6% where its own daily promise gave +9.4%, 2.2 points over.

## Key facts

- QCMD, what QCOM did: −13.6%, as of Sep 11, 2026.
- QCMD, what −1 times a day gives: +9.4%, as of Sep 11, 2026.
- QCMD, what the fund returned: +11.6%, as of Sep 11, 2026.
- QCMD, the fund itself added: +2.2 pts, as of Sep 11, 2026.
- QCMD, net assets: $3m (source, as filed for Apr 30, 2026).
- QCMD, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## QCMD over each window to Sep 11, 2026

| Window | Fund | QCOM | -1x the move | Difference | QCOM moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −10.9% | +12.2% | −12.2% | +1.3 pts | 26% |
| 3 months | +11.6% | −13.6% | +13.6% | −1.9 pts | 48% |
| 6 months | −41.1% | +41.5% | −41.5% | +0.3 pts | 65% |
| 1 year | −29.8% | +15.0% | −15.0% | −14.8 pts | 52% |
| Since launch | −32.6% | +19.8% | −19.8% | −12.8 pts | 49% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of QCOM, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -0.86 times, against -1 stated | ETFIQ |
| Underlying | QCOM | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $3m | source, as filed for Apr 30, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Jun 25, 2025 | ETFIQ |
| Underlying volatility over the window | 48% annualized | ETFIQ |

## Questions

### Did QCMD return -1 times QCOM?

Over the window to Sep 11, 2026, QCOM moved −13.6% and QCMD returned +11.6%. 1 times that move is +13.6%, so the fund came out 1.9 points short of it.

### Why does QCMD not return -1 times over a year?

Because it resets daily. QCMD aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, QCMD, data as of Sep 11, 2026. https://etfiq.com/funds/QCMD
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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