Largest Inverse ETFs for Hedging and Shorting Strategies
ProShares UltraPro Short QQQ (SQQQ) is the largest inverse ETF in the world by assets, offering -3x daily exposure to the Nasdaq-100 Index. It is followed by Direxion Daily Semiconductor Bear 3X Shares (SOXS) and ProShares Short S&P500 (SH) — two funds that cover very different corners of the market but share the same goal: profiting when prices fall.
Inverse ETFs — also called short ETFs or bear ETFs — are designed to deliver the opposite daily return of a benchmark index. They achieve this through swap contracts and futures rather than short selling individual stocks, which means they can be held in standard brokerage accounts without margin requirements.
How the daily reset works: Every trading day, derivative positions are recalibrated so the fund targets the inverse of that day’s index movement. A -1x fund aims for the exact opposite return, while -2x and -3x funds magnify the inverse. For example, if the S&P 500 falls 2% in a single session, a -3x fund targeting that index should rise roughly 6% that day. Over longer periods, compounding effects cause returns to deviate from a simple multiple of the index.
Largest inverse ETFs by assets:
- SQQQ — ProShares UltraPro Short QQQ: -3x daily inverse of the Nasdaq-100
- SOXS — Direxion Daily Semiconductor Bear 3X Shares: -3x daily inverse of the NYSE Semiconductor Index
- SH — ProShares Short S&P500: -1x daily inverse of the S&P 500, one of the simplest unleveraged inverse ETFs available
- PSQ — ProShares Short QQQ: -1x daily inverse of the Nasdaq-100
- SPXU — ProShares UltraPro Short S&P500: -3x daily inverse of the S&P 500
- SDS — ProShares UltraShort S&P500: -2x daily inverse of the S&P 500
Two providers dominate the space. ProShares, which has offered inverse and leveraged ETFs since 2006, covers broad markets, sectors, fixed income, currencies, and crypto. Direxion operates 127 funds, including sector-specific bear ETFs targeting areas like semiconductors and small caps.
Beyond equity indexes, inverse ETFs also cover fixed income (such as TBT, which provides -2x exposure to long-dated U.S. Treasuries), currencies (like ProShares UltraShort Euro, EUO), and even single stocks. This range of coverage allows for precise, position-level hedging without triggering taxable sales of existing holdings.
Regulated brokerThe table below ranks inverse ETFs by assets under management, with live pricing and fund details including leverage tier, benchmark tracked, and provider.
| Stock | Price | Change % | 52 Week Range |
|---|---|---|---|
 ProShares UltraPro Short QQQ SQQQ | $36.75 | 7.01% | |
ProShares Short S&P500 SH | $33.28 | 0.95% | |
Simplify Volatility Premium ETF SVOL | $16.19 | 0.43% | |
Direxion Daily Semiconductor Bear 3x Shares SOXS | $3.59 | 19.51% | |
ProShares UltraPro Short S&P500 SPXU | $37.42 | 2.83% | |
ProShares UltraShort S&P500 SDS | $57.35 | 1.92% | |
 ProShares Short QQQ PSQ | $25.18 | 2.33% | |
 Direxion Daily Small Cap Bear 3X Shares TZA | $4.02 | 5.85% | |
Direxion Daily S&P 500 Bear 3X Shares SPXS | $26.67 | 2.88% | |
ProShares UltraShort 20+ Year Treasury TBT | $34.81 | 0.77% | |
ProShares UltraPro Short Dow30 SDOW | $25.38 | 0.28% | |
ProShares Short VIX Short-Term Futures ETF SVXY | $56.44 | 1.64% | |
 ProShares UltraShort QQQ QID | $13.63 | 4.69% | |
Direxion Daily 20+ Year Treasury Bear 3x Shares TMV | $36.91 | 1.28% | |
 Direxion Daily FTSE China Bear 3X Shares YANG | $34.99 | 3.09% | |
Direxion Daily S&P 500 Bear 1x Shares SPDN | $8.73 | 0.91% | |
-1x Short VIX Futures ETF SVIX | $23.20 | 3.07% | |
ProShares UltraShort Bloomberg Crude Oil SCO | $31.84 | 0.09% | |
 ProShares Short Russell2000 RWM | $13.64 | 1.87% | |
 ProShares Short Dow30 DOG | $22.09 | 0.00% | |
Direxion Daily Gold Miners Index Bear 2x Shares DUST | $54.04 | 4.55% | |
Direxion Daily Technology Bear 3X Shares TECS | $6.25 | 8.76% | |
 Direxion Daily Financial Bear 3X Shares FAZ | $40.01 | 2.80% | |
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN FNGD | $33.14 | 8.65% | |
 ProShares UltraShort Bloomberg Natural Gas KOLD | $22.20 | 2.84% | |
ProShares UltraPro Short Russell2000 SRTY | $22.72 | 5.80% | |
 Direxion Daily Junior Gold Miners Index Bear 2X Shares JDST | $35.85 | 4.79% | |
Tradr 2X Short TSLA Daily ETF TSLQ | $18.91 | 1.97% | |
 Direxion Daily S&P Biotech Bear 3x Shares LABD | $11.29 | 2.59% | |
ProShares Short High Yield SJB | $15.31 | 0.20% | |
Direxion Daily Real Estate Bear 3X Shares DRV | $20.08 | 0.70% | |
 ProShares Short Bitcoin ETF BITI | $27.17 | 2.10% | |
ProShares UltraShort Dow30 DXD | $17.79 | 0.22% | |
 MicroSectors U.S. Big Oil -3 In NRGD | $32.00 | 5.25% | |
 AdvisorShares Ranger Equity Bear ETF HDGE | $16.94 | 0.26% | |
ProShares UltraShort Russell2000 TWM | $21.60 | 3.87% | |
Direxion Daily TSLA Bear 1X Shares TSLS | $54.51 | 0.93% | |
 ProShares UltraShort Silver ZSL | $25.43 | 3.33% | |
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares DRIP | $5.50 | 3.00% | |
Tradr 1.5X Short NVDA Daily ETF NVDS | $21.21 | 4.14% | |
ProShares UltraShort Real Estate SRS | $41.55 | 0.33% | |
ProShares UltraPro Short 20+ Year Treasury TTT | $66.05 | 1.23% | |
Direxion Daily S&P 500 High Beta Bear 3X Shares HIBS | $18.07 | 7.97% | |
 MicroSectors Gold Miners -3X Inverse Leveraged ETNs GDXD | $39.77 | 6.19% | |
 Direxion Daily AAPL Bear 1X Shares ETF AAPD | $11.88 | 0.71% | |
 ProShares UltraShort FTSE Europe EPV | $18.55 | 0.45% | |
ProShares Short MSCI EAFE EFZ | $23.04 | 0.97% | |
Direxion Daily Energy Bear 2X Shares ERY | $13.05 | 3.57% | |
ProShares Short 7-10 Year Treasury TBX | $28.48 | 0.22% | |
ProShares UltraShort Energy DUG | $21.28 | 3.40% | |
ProShares Short Real Estate REK | $15.94 | 0.26% | |
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN BERZ | $21.92 | 8.05% | |
 Direxion Daily Dow Jones Internet Bear 3X Shares WEBS | $19.40 | 3.15% | |
Direxion Daily MSCI Emerging Markets Bear 3X Shares EDZ | $13.56 | 9.48% | |
ProShares UltraShort 7-10 Year Treasury PST | $22.96 | 0.56% | |
ProShares UltraShort Financials SKF | $26.46 | 2.00% | |
ProShares Short MSCI Emerging Markets EUM | $15.17 | 3.23% | |
Direxion Daily 7-10 Year Treasury Bear 3x Shares TYO | $14.10 | 0.70% | |
ProShares UltraShort Gold GLL | $24.54 | 0.74% | |
 MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETN OILD | $51.44 | 5.69% | |
ProShares UltraShort FTSE China 50 FXP | $23.19 | 2.35% | |
AdvisorShares Dorsey Wright Short ETF DWSH | $6.54 | 0.00% | |
ProShares Short Financials SEF | $31.71 | 1.01% | |
MicroSectors U.S. Big Banks -3 BNKD | $33.22 | 3.03% | |
 Direxion Daily MSFT Bear 1X Shares ETF MSFD | $14.22 | 0.07% | |
ProShares UltraShort MSCI Brazil Capped BZQ | $24.52 | 1.57% | |
Direxion Daily NVDA Bear 1X Shares NVDD | $32.70 | 2.39% | |
Proshares Ultrashort Semiconductors SSG | $11.24 | 10.37% | |
ProShares Short FTSE China 50 YXI | $23.47 | 1.76% | |
ProShares Short SmallCap600 SBB | $22.99 | 1.85% | |
Dynamic Shares Trust Dynamic Sh WEIX | $26.11 | 0.00% | |
ProShares Short S&P Mid Cap400 MYY | $15.32 | 1.09% | |
ProShares UltraShort MSCI Japan EWV | $16.90 | 3.72% | |
ProShares UltraShort MSCI Emerging Markets EEV | $10.24 | 6.44% | |
ProShares UltraShort Technology REW | $11.49 | 6.20% | |
ProShares Decline of the Retail Store ETF EMTY | $24.20 | 0.91% | |
ProShares Short Ether ETF SETH | $54.39 | 1.68% | |
Direxion Daily AMZN Bear 1X Shares ETF AMZD | $9.31 | 2.82% | |
Deutsche Bank Ag London Gold Double Short Exchange Traded (Nts) DZZ | $1.80 | 3.75% | |
MAX Airlines -3X Inverse Leveraged ETNs JETD | $2.54 | 2.01% | |
ProShares UltraPro Short MidCap400 SMDD | $7.88 | 3.77% | |
ProShares UltraShort Nasdaq Biotechnology BIS | $16.33 | 0.51% | |
DB Gold Short Exchange Traded Notes DGZ | $5.81 | 10.22% | |
Direxion Daily GOOGL Bear 1X Shares ETF GGLS | $5.61 | 1.06% | |
 MAX Auto Industry -3x Inverse Leveraged ETN CARD | $2.62 | 7.56% | |
MicroSectors Energy 3X Inverse Leveraged ETNs WTID | $5.74 | 5.51% | |
ProShares UltraShort SmallCap600 SDD | $8.71 | 3.17% | |
MicroSectors Travel -3x Inverse Leveraged ETN FLYD | $44.54 | 6.14% | |
MicroSectors Gold -3X Inverse Leveraged ETNs DULL | $67.03 | 1.54% | |
ProShares UltraShort MidCap400 MZZ | $5.94 | 2.45% | |
ProShares UltraShort Industrials SIJ | $16.40 | 1.65% | |
ProShares UltraShort Consumer Discretionary SCC | $14.68 | 2.87% | |
ProShares UltraShort Health Care RXD | $19.55 | 1.64% | |
ProShares UltraShort Materials SMN | $19.73 | 0.60% | |
ProShares UltraShort MSCI EAFE EFU | $7.29 | 1.23% | |
ProShares UltraShort Consumer Staples SZK | $22.33 | 1.20% | |
ProShares UltraShort Utilities SDP | $22.49 | 1.19% |