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 5.28%/yr vs 62.72%/yr for USD. At a 0.36 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 -38.40% return, which is significantly lower than USD's 92.18% return. Over the past 10 years, PNNT has underperformed USD with an annualized return of 5.28%, while USD has yielded a comparatively higher 62.72% annualized return.
PNNT
- 1D
- -2.07%
- 1M
- -11.97%
- YTD
- -38.40%
- 6M
- -37.45%
- 1Y
- -41.13%
- 3Y*
- -3.49%
- 5Y*
- -1.50%
- 10Y*
- 5.28%
USD
- 1D
- 4.73%
- 1M
- -0.57%
- YTD
- 92.18%
- 6M
- 86.88%
- 1Y
- 185.02%
- 3Y*
- 118.50%
- 5Y*
- 64.73%
- 10Y*
- 62.72%
PNNT vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | -38.40% | -2.96% | 16.56% | 37.25% | -8.90% | 61.71% | -17.99% | 14.30% | 2.05% | -0.65% |
USD ProShares Ultra Semiconductors | 92.18% | 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 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Apr 19, 2007 | 0.36 |
The correlation between PNNT and USD shifts across timeframes, from 0.17 (1 year) to 0.36 (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.
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.
| PNNT | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.23 | ||
| Sortino ratioReturn per unit of downside risk | -4.90 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.38 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 5.86 | -6.72 |
| Martin ratioReturn relative to average drawdown | -1.87 | 16.16 | -18.02 |
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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 | -47.57% | -31.80% | -15.77% |
Max Drawdown (3Y)Largest decline over 3 years | -47.57% | -64.46% | +16.89% |
Max Drawdown (5Y)Largest decline over 5 years | -47.57% | -77.85% | +30.28% |
Max Drawdown (10Y)Largest decline over 10 years | -69.14% | -77.85% | +8.71% |
Current DrawdownCurrent decline from peak | -47.57% | -11.21% | -36.36% |
Average DrawdownAverage peak-to-trough decline | -15.34% | -32.29% | +16.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.07% | 11.50% | +10.57% |
Volatility
PNNT vs. USD - Volatility Comparison
The current volatility for PennantPark Investment Corporation (PNNT) is 10.24%, while ProShares Ultra Semiconductors (USD) has a volatility of 33.79%. 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 | 10.24% | 33.79% | -23.55% |
Volatility (6M)Calculated over the trailing 6-month period | 24.47% | 53.90% | -29.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.96% | 67.84% | -39.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.73% | 77.74% | -54.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.85% | 69.82% | -36.97% |
Dividends
PNNT vs. USD - Dividend Comparison
PNNT's dividend yield for the trailing twelve months is around 29.00%, more than USD's 0.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | 29.00% | 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 | 0.30% | 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 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (33.79%) compared to PNNT (10.24%). In terms of maximum drawdown, PNNT dropped -82.16% vs USD's -88.63%.
USD currently has the higher Sharpe Ratio (2.75 vs -1.48), 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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