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DZZ vs. PST
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DZZ vs. PST

Last updated Jun 4, 2026

DZZ (DB Gold Double Short Exchange Traded Notes) and PST (ProShares UltraShort 7-10 Year Treasury) are both exchange-traded funds - DZZ is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%), while PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, DZZ returned -10.52%/yr vs 2.47%/yr for PST. At a 0.22 correlation, their price movements are largely independent. DZZ charges 0.75%/yr vs 0.95%/yr for PST.

Performance

DZZ vs. PST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DB Gold Double Short Exchange Traded Notes (DZZ) and ProShares UltraShort 7-10 Year Treasury (PST). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DZZ achieves a -48.31% return, which is significantly lower than PST's 4.57% return. Over the past 10 years, DZZ has underperformed PST with an annualized return of -10.52%, while PST has yielded a comparatively higher 2.47% annualized return.

DZZ

1D
1.45%
1M
-16.65%
YTD
-48.31%
6M
-41.62%
1Y
11.20%
3Y*
-6.90%
5Y*
-4.82%
10Y*
-10.52%

PST

1D
0.51%
1M
0.80%
YTD
4.57%
6M
6.73%
1Y
1.08%
3Y*
5.59%
5Y*
9.21%
10Y*
2.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DZZ vs. PST - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DZZ
DB Gold Double Short Exchange Traded Notes		-48.31%132.78%-35.06%-8.14%2.79%0.56%-37.13%-26.64%8.21%-21.81%
PST
ProShares UltraShort 7-10 Year Treasury		4.57%-4.42%12.27%3.17%38.55%4.01%-18.67%-11.03%1.72%-4.52%

Correlation

The correlation between DZZ and PST is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.10

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.20

Correlation (10Y)
Calculated over the trailing 10-year period

0.29

Correlation (All Time)
Calculated using the full available price history since May 2, 2008

0.22

The correlation between DZZ and PST shifts across timeframes, from 0.10 (1 year) to 0.29 (10 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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DB Gold Double Short Exchange Traded Notes

ProShares UltraShort 7-10 Year Treasury

Often compared with DZZ:
DZZ vs. UGLDZZ vs. GLDDZZ vs. GLLDZZ vs. VOODZZ vs. MULLDZZ vs. TERGDZZ vs. COPJ
Often compared with PST:
PST vs. ^TYXPST vs. TYOPST vs. TBIIXPST vs. SGOVPST vs. UBTPST vs. FXAIXPST vs. TMV

Return for Risk

DZZ vs. PST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DZZ
DZZ Risk / Return Rank: 1919
Overall Rank
DZZ Sharpe Ratio Rank: 99
Sharpe Ratio Rank
DZZ Sortino Ratio Rank: 3131
Sortino Ratio Rank
DZZ Omega Ratio Rank: 3333
Omega Ratio Rank
DZZ Calmar Ratio Rank: 1010
Calmar Ratio Rank
DZZ Martin Ratio Rank: 1010
Martin Ratio Rank
PST
PST Risk / Return Rank: 1010
Overall Rank
PST Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
PST Sortino Ratio Rank: 99
Sortino Ratio Rank
PST Omega Ratio Rank: 99
Omega Ratio Rank
PST Calmar Ratio Rank: 1010
Calmar Ratio Rank
PST Martin Ratio Rank: 1010
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DZZ vs. PST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DB Gold Double Short Exchange Traded Notes (DZZ) and ProShares UltraShort 7-10 Year Treasury (PST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

DZZPSTDifference
Sharpe ratioReturn per unit of total volatility
0.07
0.11

-0.05

Sortino ratioReturn per unit of downside risk
1.69
0.23

+1.46

Omega ratioGain probability vs. loss probability

1.22

1.03

+0.20

Calmar ratioReturn relative to maximum drawdown

0.14

0.15

-0.01

Martin ratioReturn relative to average drawdown

0.21

0.26

-0.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DZZ vs. PST - Sharpe Ratio Comparison

The current DZZ Sharpe Ratio is 0.07, which is lower than the PST Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of DZZ and PST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DZZPSTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.07

0.11

-0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.06

0.59

-0.65

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.16

0.19

-0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.23

-0.37

+0.14

Drawdowns

DZZ vs. PST - Drawdown Comparison

The maximum DZZ drawdown since its inception was -96.64%, which is greater than PST's maximum drawdown of -79.25%. Use the drawdown chart below to compare losses from any high point for DZZ and PST.

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Drawdown Indicators

DZZPSTDifference

Max Drawdown

Largest peak-to-trough decline

-96.64%

-79.25%

-17.39%

Max Drawdown (1Y)

Largest decline over 1 year

-80.84%

-7.25%

-73.59%

Max Drawdown (3Y)

Largest decline over 3 years

-80.84%

-16.19%

-64.65%

Max Drawdown (5Y)

Largest decline over 5 years

-80.84%

-16.19%

-64.65%

Max Drawdown (10Y)

Largest decline over 10 years

-80.84%

-36.07%

-44.77%

Current Drawdown

Current decline from peak

-95.16%

-64.13%

-31.03%

Average Drawdown

Average peak-to-trough decline

-82.30%

-61.48%

-20.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

53.19%

4.16%

+49.03%

Volatility

DZZ vs. PST - Volatility Comparison

DB Gold Double Short Exchange Traded Notes (DZZ) has a higher volatility of 30.21% compared to ProShares UltraShort 7-10 Year Treasury (PST) at 3.19%. This indicates that DZZ's price experiences larger fluctuations and is considered to be riskier than PST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DZZPSTDifference

Volatility (1M)

Calculated over the trailing 1-month period

30.21%

3.19%

+27.02%

Volatility (6M)

Calculated over the trailing 6-month period

59.65%

6.75%

+52.90%

Volatility (1Y)

Calculated over the trailing 1-year period

169.45%

9.62%

+159.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

83.63%

15.60%

+68.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

64.05%

13.32%

+50.73%

DZZ vs. PST - Expense Ratio Comparison

DZZ has a 0.75% expense ratio, which is lower than PST's 0.95% expense ratio.

Dividends

DZZ vs. PST - Dividend Comparison

DZZ has not paid dividends to shareholders, while PST's dividend yield for the trailing twelve months is around 3.08%.

PositionTTM20252024202320222021202020192018
DZZ
DB Gold Double Short Exchange Traded Notes		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PST
ProShares UltraShort 7-10 Year Treasury		3.08%3.47%3.61%3.69%0.02%0.00%0.11%1.85%0.66%

Frequently Asked Questions

DZZ and PST have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DZZ has higher volatility (30.21%) compared to PST (3.19%). In terms of maximum drawdown, DZZ dropped -96.64% vs PST's -79.25%.

On 10-year performance, PST leads with 2.47% vs -10.52% for DZZ. On fees, DZZ is cheaper at 0.75% per year. On volatility, PST has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, PST has performed better with a 2.47% return vs -10.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DZZ is cheaper with a 0.75% expense ratio, compared with 0.95% for PST.

PST has the higher dividend yield at 3.08%, compared with 0.00% for DZZ.

DZZ is categorized as Leveraged Commodities, while PST is Inverse Bonds. DZZ tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%), while PST tracks ICE U.S. Treasury 7-10 Year Bond Index. They also come from different issuers: Deutsche Bank and ProShares. Their fees differ too: 0.75% for DZZ and 0.95% for PST.

PST currently has the higher Sharpe Ratio (0.11 vs 0.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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