ERY vs. PST
ERY (Direxion Daily Energy Bear 2X Shares) and PST (ProShares UltraShort 7-10 Year Treasury) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), 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, ERY returned -33.62%/yr vs 2.77%/yr for PST. At a correlation of -0.30, they often move in opposite directions. ERY charges 1.07%/yr vs 0.95%/yr for PST.
Performance
ERY vs. PST - Performance Comparison
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Returns By Period
In the year-to-date period, ERY achieves a -35.79% return, which is significantly lower than PST's 3.31% return. Over the past 10 years, ERY has underperformed PST with an annualized return of -33.62%, while PST has yielded a comparatively higher 2.77% annualized return.
ERY
- 1D
- -2.10%
- 1M
- 12.20%
- YTD
- -35.79%
- 6M
- -36.68%
- 1Y
- -43.63%
- 3Y*
- -24.59%
- 5Y*
- -35.93%
- 10Y*
- -33.62%
PST
- 1D
- -0.18%
- 1M
- -1.19%
- YTD
- 3.31%
- 6M
- 4.20%
- 1Y
- 2.43%
- 3Y*
- 4.88%
- 5Y*
- 9.04%
- 10Y*
- 2.77%
ERY vs. PST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -35.79% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
PST ProShares UltraShort 7-10 Year Treasury | 3.31% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
Correlation
The correlation between ERY and PST is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2008 | -0.30 |
The correlation between ERY and PST shifts across timeframes, from -0.30 (all time) to -0.12 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ERY vs. PST — Risk / Return Rank
ERY
PST
ERY vs. PST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ERY | PST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.05 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 0.35 | -1.12 |
| Martin ratioReturn relative to average drawdown | -1.37 | 0.64 | -2.00 |
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Drawdowns
ERY vs. PST - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than PST's maximum drawdown of -79.25%. Use the drawdown chart below to compare losses from any high point for ERY and PST.
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Drawdown Indicators
| ERY | PST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -79.25% | -20.74% |
Max Drawdown (1Y)Largest decline over 1 year | -56.88% | -6.90% | -49.98% |
Max Drawdown (3Y)Largest decline over 3 years | -66.61% | -16.19% | -50.42% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | -16.19% | -77.85% |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | -36.07% | -63.59% |
Current DrawdownCurrent decline from peak | -99.99% | -64.56% | -35.43% |
Average DrawdownAverage peak-to-trough decline | -96.91% | -61.48% | -35.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.93% | 3.84% | +28.09% |
Volatility
ERY vs. PST - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 13.80% compared to ProShares UltraShort 7-10 Year Treasury (PST) at 2.88%. This indicates that ERY'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
| ERY | PST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.80% | 2.88% | +10.92% |
Volatility (6M)Calculated over the trailing 6-month period | 33.50% | 7.11% | +26.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.48% | 9.51% | +31.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.86% | 15.60% | +36.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.53% | 13.30% | +57.23% |
ERY vs. PST - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than PST's 0.95% expense ratio.
Dividends
ERY vs. PST - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 2.87%, less than PST's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 2.87% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
PST ProShares UltraShort 7-10 Year Treasury | 2.90% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
Frequently Asked Questions
ERY and PST have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (13.80%) compared to PST (2.88%). In terms of maximum drawdown, ERY dropped -99.99% vs PST's -79.25%.
On 10-year performance, PST leads with 2.77% vs -33.62% for ERY. On fees, PST is cheaper at 0.95% per year. On volatility, PST has been the lower-risk option at 2.88%. 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 2.77% return vs -33.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST is cheaper with a 0.95% expense ratio, compared with 1.07% for ERY.
PST has the higher dividend yield at 2.90%, compared with 2.87% for ERY.
ERY is categorized as Leveraged Equities, while PST is Inverse Bonds. ERY tracks Energy Select Sector Index (-300%), while PST tracks ICE U.S. Treasury 7-10 Year Bond Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.07% for ERY and 0.95% for PST.
PST currently has the higher Sharpe Ratio (0.26 vs -1.06), 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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