Direxion Daily QCOM Bear 1X ETF (QCMD)

The Direxion Daily QCOM Bear 1X ETF is an inverse single-stock fund from Direxion, a New York-based sponsor of leveraged and inverse ETFs. Its underlying stock is Qualcomm, the wireless technology and semiconductor company.

The fund seeks daily investment results, before fees and expenses, equal to negative one times, or the inverse of, the daily percentage change in Qualcomm's share price. It obtains this short exposure through swap agreements, so it is designed to gain when Qualcomm shares fall on a given day.

Because the exposure is reset daily, the fund targets one-day returns only, and over longer periods its performance can differ from the inverse of Qualcomm's return. It trades on the Nasdaq under the ticker QCMD.