- What does QCMD invest in?
- QCMD is a short-term tactical tool that aims to deliver -1x the price return, less fees and expenses, for a single day of QUALCOMM, Inc. stock. Purchasers holding shares for longer than a day will need to monitor and rebalance their position frequently to attempt to achieve the -1x multiple. Aside from the inverse exposure, compared to traditional ETFs, the shares take on added volatility due to the lack of diversification. Purchasers should conduct their own individual stock research prior to initiating a position and trade with conviction. Due to the complexities of the product, shares tend to perform as anticipated only when the underlying shares are trending and holders are on the positive corresponding side of that trade. However, the shares provide the advantage of capping the maximum loss to the full amount invested. Effective February 27, 2026, the fund replaced the term Shares in its name with ETF.
- What is the expense ratio of QCMD?
- Direxion Daily QCOM Bear 1X Shares (QCMD) charges an expense ratio of 2.76%. This is the annual fee deducted from fund assets to cover management and operations.
- Is QCMD a good long-term hold?
- QCMD is a inverse fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.
- How does QCMD's daily reset work?
- QCMD rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.
- How big is QCMD?
- Direxion Daily QCOM Bear 1X Shares (QCMD) manages $2.4M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.
- Is QCMD actively managed or an index fund?
- QCMD's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
