Direxion Daily Magnificent 7 Bear 1X ETF (QQQD)

The Direxion Daily Magnificent 7 Bear 1X ETF (ticker QQQD) is an inverse exchange-traded fund from Direxion. It seeks daily investment results, before fees and expenses, of 100% of the inverse (-1x) of the daily performance of the Bloomberg Magnificent 7 Total Return Index.

The index holds equal-weighted positions in seven large U.S. technology-oriented companies: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla. The fund obtains its short exposure through swap agreements and rebalances daily.

Because the objective resets daily, the fund's returns over periods longer than one day can differ from the inverse of the index's return over the same period.