PFFL vs. PST
PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) and PST (ProShares UltraShort 7-10 Year Treasury) are both exchange-traded funds - PFFL is a Leveraged Bonds fund tracking the Solactive Preferred Stock ETF Index, 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 5 years, PFFL returned -6.94%/yr vs 11.21%/yr for PST. Their -0.24 correlation means they have often moved in opposite directions in the past. PFFL charges 0.85%/yr vs 0.95%/yr for PST.
Performance
PFFL vs. PST - Performance Comparison
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Returns By Period
In the year-to-date period, PFFL achieves a -2.41% return, which is significantly lower than PST's 7.47% return.
PFFL
- 1D
- 1.44%
- 1M
- 0.14%
- 6M
- -5.93%
- YTD
- -2.41%
- 1Y
- -0.58%
- 3Y*
- 3.20%
- 5Y*
- -6.94%
- 10Y*
- —
- ALL TIME*
- -3.94%
PST
- 1D
- -0.25%
- 1M
- 2.97%
- 6M
- 6.03%
- YTD
- 7.47%
- 1Y
- 7.65%
- 3Y*
- 4.54%
- 5Y*
- 11.21%
- 10Y*
- 3.04%
- ALL TIME*
- -4.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.02K | $14.94K | $17.61K | |
| $123.16K | $147.97K | $189.80K |
PFFL vs. PST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | -2.41% | 2.18% | 4.77% | 8.65% | -39.15% | 7.52% | -15.47% | 30.21% | -10.77% |
PST ProShares UltraShort 7-10 Year Treasury | 7.47% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | -6.80% |
Correlation
The correlation between PFFL and PST is -0.31, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.31 |
Correlation (3Y) Balances recent behavior with more history. | -0.36 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.34 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2018 | -0.24 |
The correlation between PFFL and PST shifts across timeframes, from -0.36 (3 years) to -0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PFFL vs. PST — Risk / Return Rank
PFFL
PST
PFFL vs. PST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) 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.
| PFFL | PST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.14 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 1.62 | -1.67 |
| Martin ratioReturn relative to average drawdown | -0.10 | 3.32 | -3.42 |
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Drawdowns
PFFL vs. PST - Drawdown Comparison
The maximum PFFL drawdown since its inception was -80.68%, roughly equal to the maximum PST drawdown of -79.25%. Use the drawdown chart below to compare losses from any high point for PFFL and PST.
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Drawdown Indicators
| PFFL | PST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.68% | -79.25% | -1.43% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -4.73% | -7.19% |
Max Drawdown (3Y)Largest decline over 3 years | -23.75% | -16.19% | -7.56% |
Max Drawdown (5Y)Largest decline over 5 years | -48.51% | -16.19% | -32.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.07% | — |
Current DrawdownCurrent decline from peak | -39.88% | -63.13% | +23.25% |
Average DrawdownAverage peak-to-trough decline | -28.76% | -61.49% | +32.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.08% | 2.31% | +3.77% |
Volatility
PFFL vs. PST - Volatility Comparison
ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) has a higher volatility of 4.68% compared to ProShares UltraShort 7-10 Year Treasury (PST) at 2.54%. This indicates that PFFL'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
| PFFL | PST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 2.54% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.38% | 7.33% | +4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.72% | 9.14% | +6.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.74% | 15.57% | +8.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.80% | 13.29% | +41.51% |
PFFL vs. PST - Expense Ratio Comparison
PFFL has a 0.85% expense ratio, which is lower than PST's 0.95% expense ratio.
Dividends
PFFL vs. PST - Dividend Comparison
PFFL's dividend yield for the trailing twelve months is around 12.61%, more than PST's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | 12.61% | 13.27% | 13.76% | 13.71% | 13.90% | 8.82% | 9.75% | 11.21% | 2.02% |
PST ProShares UltraShort 7-10 Year Treasury | 2.79% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
Frequently Asked Questions
PFFL and PST have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFFL has higher volatility (4.68%) compared to PST (2.54%). In terms of maximum drawdown, PFFL dropped -80.68% vs PST's -79.25%.
On 5-year performance, PST leads with 11.21% vs -6.94% for PFFL. On fees, PFFL is cheaper at 0.85% per year. On volatility, PST has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PST has performed better with a 11.21% return vs -6.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFL is cheaper with a 0.85% expense ratio, compared with 0.95% for PST.
PFFL has the higher dividend yield at 12.61%, compared with 2.79% for PST.
PFFL is categorized as Leveraged Bonds, while PST is Inverse Bonds. PFFL tracks Solactive Preferred Stock ETF Index, while PST tracks ICE U.S. Treasury 7-10 Year Bond Index. They also come from different issuers: UBS and ProShares. Their fees differ too: 0.85% for PFFL and 0.95% for PST.
PST currently has the higher Sharpe Ratio (0.84 vs -0.04), 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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