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The QID is an inverse ETF to the QQQQ ETF. This ETF seeks to correspond twice the inverse of the daily performance of the PowerShares QQQQ.
For example, if the QQQQ were to move up $1, the QID would lose $2 and vice versa.
OverviewThe investment seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the NASDAQ-100 index. The fund normally invests 80% of assets in financial instruments with economic characteristics that should be inverse to those of the index. It may employ leveraged investment techniques in seeking its investment objective. The fund is nondiversified.[1]
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