# QCMD (Direxion Daily QCOM Bear 1X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: QCMD returned −5.7% where its own daily promise gave −7.0%, 1.4 points over.

## Key facts

- QCMD, what QCOM did: +1.7%, as of Sep 30, 2026.
- QCMD, what −1 times a day gives: −7.0%, as of Sep 30, 2026.
- QCMD, what the fund returned: −5.7%, as of Sep 30, 2026.
- QCMD, the fund itself added: +1.4 pts, as of Sep 30, 2026.
- QCMD, net assets: $3m (issuer page, as of Sep 30, 2026).
- QCMD, expense ratio: 1.00% (485BPOS XBRL, Feb 26, 2026).

## QCMD over each window to Sep 30, 2026

| Window | Fund | QCOM | -1x the move | Difference | QCOM moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −9.9% | +8.5% | −8.5% | −1.4 pts | 55% |
| 3 months | −5.7% | +1.7% | −1.7% | −3.9 pts | 47% |
| 6 months | −44.2% | +45.9% | −45.9% | +1.8 pts | 68% |
| 1 year | −30.1% | +12.9% | −12.9% | −17.1 pts | 54% |
| Since launch | −34.7% | +21.2% | −21.2% | −13.6 pts | 50% |

## 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 | QCOM moved +1.7% over this window, too little to read a multiple from | ETFIQ |
| Underlying | QCOM | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $3m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.00% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jun 25, 2025 | ETFIQ |
| Underlying volatility over the window | 47% annualized | ETFIQ |

## Questions

### Did QCMD return -1 times QCOM?

Over the window to Sep 30, 2026, QCOM moved +1.7% and QCMD returned −5.7%. −1 times that move is −1.7%, so the fund came out 3.9 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 30, 2026. https://etfiq.com/funds/qcmd
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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