PNNT vs. USD
PNNT (PennantPark Investment Corporation) is a stock, while USD (ProShares Ultra Semiconductors) is Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Over the past 10 years, PNNT returned 7.30%/yr vs 61.24%/yr for USD. At a 0.37 correlation, their price movements are largely independent.
Performance
PNNT vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, PNNT achieves a -26.56% return, which is significantly lower than USD's 103.32% return. Over the past 10 years, PNNT has underperformed USD with an annualized return of 7.30%, while USD has yielded a comparatively higher 61.24% annualized return.
PNNT
- 1D
- 3.60%
- 1M
- -15.48%
- YTD
- -26.56%
- 6M
- -23.09%
- 1Y
- -28.65%
- 3Y*
- 4.30%
- 5Y*
- 2.32%
- 10Y*
- 7.30%
USD
- 1D
- -4.99%
- 1M
- 31.62%
- YTD
- 103.32%
- 6M
- 97.79%
- 1Y
- 250.81%
- 3Y*
- 125.78%
- 5Y*
- 67.80%
- 10Y*
- 61.24%
PNNT vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | -26.56% | -2.96% | 16.56% | 37.25% | -8.90% | 61.71% | -17.99% | 14.30% | 2.05% | -0.65% |
USD ProShares Ultra Semiconductors | 103.32% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between PNNT and USD is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2007 | 0.37 |
The correlation between PNNT and USD shifts across timeframes, from 0.20 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PNNT vs. USD — Risk / Return Rank
PNNT
USD
PNNT vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PennantPark Investment Corporation (PNNT) and ProShares Ultra Semiconductors (USD). 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.
| PNNT | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.19 | ||
| Sortino ratioReturn per unit of downside risk | -5.01 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.48 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 7.94 | -8.62 |
| Martin ratioReturn relative to average drawdown | -1.46 | 22.96 | -24.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PNNT | USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.07 | 4.12 | -5.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.89 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.89 | -0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.49 | -0.35 |
Drawdowns
PNNT vs. USD - Drawdown Comparison
The maximum PNNT drawdown since its inception was -82.16%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for PNNT and USD.
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Drawdown Indicators
| PNNT | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -88.63% | +6.47% |
Max Drawdown (1Y)Largest decline over 1 year | -42.61% | -31.80% | -10.81% |
Max Drawdown (3Y)Largest decline over 3 years | -42.61% | -64.46% | +21.85% |
Max Drawdown (5Y)Largest decline over 5 years | -42.61% | -77.85% | +35.24% |
Max Drawdown (10Y)Largest decline over 10 years | -69.14% | -77.85% | +8.71% |
Current DrawdownCurrent decline from peak | -37.49% | -6.07% | -31.42% |
Average DrawdownAverage peak-to-trough decline | -15.27% | -32.35% | +17.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.59% | 10.98% | +8.61% |
Volatility
PNNT vs. USD - Volatility Comparison
The current volatility for PennantPark Investment Corporation (PNNT) is 14.23%, while ProShares Ultra Semiconductors (USD) has a volatility of 21.29%. This indicates that PNNT experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNNT | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.23% | 21.29% | -7.06% |
Volatility (6M)Calculated over the trailing 6-month period | 23.63% | 46.74% | -23.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.82% | 61.28% | -34.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.72% | 76.56% | -52.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.73% | 69.24% | -36.51% |
Dividends
PNNT vs. USD - Dividend Comparison
PNNT's dividend yield for the trailing twelve months is around 23.82%, more than USD's 0.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | 23.82% | 16.11% | 12.85% | 11.65% | 10.43% | 6.93% | 11.71% | 11.03% | 11.30% | 10.42% | 14.62% | 18.12% |
USD ProShares Ultra Semiconductors | 0.23% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
PNNT and USD have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (21.29%) compared to PNNT (14.23%). In terms of maximum drawdown, PNNT dropped -82.16% vs USD's -88.63%.
USD currently has the higher Sharpe Ratio (4.12 vs -1.07), 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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