{"url":"https://etfiq.com/questions/what-is-an-inverse-etf","section":"questions","title":"What is an inverse ETF? | ETFIQ","description":"A fund built to return the opposite of what something else does, each day, usually multiplied. ETFIQ tracks 125 of them with a full three months to Sep 30\u2026","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What is an inverse ETF?","acceptedAnswer":{"@type":"Answer","text":"A fund built to return the opposite of what something else does, each day, usually multiplied. ETFIQ tracks 125 of them with a full three months to Sep 30, 2026, and 55 finished short of what their own stated multiple implied over exactly those days. It is a bet the underlying falls, and it is not the same as being short it."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Questions","item":"https://etfiq.com/questions/"},{"@type":"ListItem","position":3,"name":"What is an inverse ETF?","item":"https://etfiq.com/questions/what-is-an-inverse-etf"}]},{"@type":"WebPage","name":"What is an inverse ETF?","description":"A fund built to return the opposite of what something else does, each day, usually multiplied. ETFIQ tracks 125 of them with a full three months to Sep 30\u2026","url":"https://etfiq.com/questions/what-is-an-inverse-etf","dateModified":"2026-09-30","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4486,"truncated":false,"content":"ETFIQ / Questions / What is an inverse ETF? \n \n Answered from ETFIQ data as of Sep 30, 2026 .\n What is an inverse ETF?\n A fund built to return the opposite of what something else does, each day, usually multiplied. ETFIQ tracks 125 of them with a full three months to Sep 30, 2026, and 55 finished short of what their own stated multiple implied over exactly those days. It is a bet the underlying falls, and it is not the same as being short it.\n The multiple applies to a single day. At each close the fund resets from wherever it now stands, so what a holder gets over a quarter depends on the path the underlying took and not only on where it ended.\n The reset works against an inverse position in a way that is easy to miss. A real short position gets smaller as it wins and larger as it loses; a daily-reset inverse fund does the opposite, rebuilding the position every night so that it is largest after it has already been right.\n Read the difference below as what a holder has more or less of. A number below zero means the fund returned less than its own label implied over the same days, whichever way the underlying went: on a fund that fell, it fell further than the label; on one that rose, it rose less.\n On ETFIQ today\n Ticker Fund Says Underlying asset Underlying did Fund returned Multiple implied Difference \n SDOW ProShares UltraPro Short Dow30 -3x DIA \u22122.3% +9.1% +7.0% +2.1 pts \n EDZ Direxion Daily MSCI Emerging Markets Bea -3x EEM +0.5% \u22126.7% \u22121.4% \u22125.3 pts \n WEBS Direxion Daily Dow Jones Internet Bear 3 -3x FDN +7.0% \u221220.8% \u221221.0% +0.2 pts \n FNGD MicroSectors FANG Index -3X Inverse Lev -3x FNGS +12.2% \u221230.9% \u221236.7% +5.7 pts \n YANG Direxion Daily FTSE China Bear 3X ETF -3x FXI +6.4% \u221217.5% \u221219.2% +1.7 pts \n GDXD MicroSectors Gold Miners -3X Inverse Lev -3x GDX +17.0% \u221256.8% \u221250.9% \u22125.9 pts \n DULL MicroSectors Gold -3X Inverse Leveraged -3x GLD +2.8% \u221214.8% \u22128.3% \u22126.5 pts \n TYO Direxion Daily 7-10 Year Treasury Bear 3 -3x IEF \u22124.3% +18.5% +13.1% +5.4 pts \n SRTY ProShares UltraPro Short Russell2000 -3x IWM \u22126.9% +25.2% +20.8% +4.5 pts \n TZA Direxion Daily Small Cap Bear 3X ETF -3x IWM \u22126.9% +25.0% +20.8% +4.2 pts \n DRV Direxion Daily Real Estate Bear 3X ETF -3x IYR \u22126.8% +23.9% +20.3% +3.6 pts \n SMDD ProShares UltraPro Short MidCap400 -3x MDY \u22125.6% +20.7% +16.7% +4.0 pts \n SQQQ ProShares UltraPro Short QQQ -3x QQQ +2.1% \u22127.9% \u22126.4% \u22121.5 pts \n SOXS Direxion Daily Semiconductor Bear 3X ETF -3x SOXX \u22125.1% \u221213.2% +15.4% \u221228.5 pts \n HIBS Direxion Daily S&P 500(R) High Beta Bear -3x SPHB \u22120.9% \u22125.7% +2.8% \u22128.5 pts \n SPXS Direxion Daily S&P 500(R) Bear 3X ETF -3x SPY +2.5% \u22125.5% \u22127.6% +2.1 pts \n SPXU ProShares UltraPro Short S&P500 -3x SPY +2.5% \u22125.4% \u22127.6% +2.1 pts \n TMV Direxion Daily 20+ Year Treasury Bear 3X -3x TLT \u22128.3% +32.5% +25.0% +7.5 pts \n TTT ProShares UltraPro Short 20+ Year Treasu -3x TLT \u22128.3% +31.9% +25.0% +6.9 pts \n LABD Direxion Daily S&P Biotech Bear 3X ETF -3x XBI +0.7% \u221210.6% \u22122.2% \u22128.5 pts \n FAZ Direxion Daily Financial Bear 3X ETF -3x XLF \u22122.2% +8.1% +6.5% +1.6 pts \n TECS Direxion Daily Technology Bear 3X ETF -3x XLK +5.6% \u221221.0% \u221216.7% \u22124.3 pts \n DAMD Defiance Daily Target 2X Short AMD ETF -2x AMD +13.1% \u221244.3% \u221226.2% \u221218.1 pts \n AMZO Tradr 2X Short AMZN Daily ETF -2x AMZN +3.1% \u221216.4% \u22126.2% \u221210.2 pts \n APLZ Tradr 2X Short APLD Daily ETF -2x APLD \u221231.4% +12.7% +62.8% \u221250.1 pts \n \n Where to next\n Where these figures came from\n The multiple each fund states in its own registered name, from the SEC investment company series and class file SEC EDGAR, full-text search of fund filings SEC Form N-PORT, what a fund filed it holds Rule 19a-1, what a distribution notice must say ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.\n ETFIQ is an independent publisher of exchange-traded fund data and makes no recommendations. Every figure is calculated from published data. Standards and sources \n Cite this page. ETFIQ, What is an inverse ETF?, data as of Sep 30, 2026. https://etfiq.com/questions/what-is-an-inverse-etf Free to use with attribution ; the underlying files are at Open data .\n Other forms Plain ETFIQ, What is an inverse ETF?, data as of Sep 30, 2026. https://etfiq.com/questions/what-is-an-inverse-etf APA ETFIQ. (Sep 30, 2026). What is an inverse ETF?. Retrieved from https://etfiq.com/questions/what-is-an-inverse-etf Markdown [What is an inverse ETF? (ETFIQ, Sep 30, 2026)](https://etfiq.com/questions/what-is-an-inverse-etf)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/questions/what-is-an-inverse-etf"}