PSLV vs. SQQQ
PSLV (Sprott Physical Silver Trust) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - PSLV is a Silver fund tracking the No Index (Physical Silver), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, PSLV returned 8.78%/yr vs -55.08%/yr for SQQQ. At a correlation of -0.16, they often move in opposite directions. PSLV charges 0.51%/yr vs 0.95%/yr for SQQQ.
Performance
PSLV vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, PSLV achieves a -24.40% return, which is significantly higher than SQQQ's -38.86% return. Over the past 10 years, PSLV has outperformed SQQQ with an annualized return of 8.78%, while SQQQ has yielded a comparatively lower -55.08% annualized return.
PSLV
- 1D
- -3.51%
- 1M
- -20.00%
- 6M
- -40.95%
- YTD
- -24.40%
- 1Y
- 40.13%
- 3Y*
- 28.18%
- 5Y*
- 14.61%
- 10Y*
- 8.78%
SQQQ
- 1D
- 5.01%
- 1M
- 8.33%
- 6M
- -36.79%
- YTD
- -38.86%
- 1Y
- -54.36%
- 3Y*
- -50.96%
- 5Y*
- -45.88%
- 10Y*
- -55.08%
PSLV vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSLV Sprott Physical Silver Trust | -24.40% | 145.08% | 19.43% | -1.94% | 2.74% | -14.13% | 42.81% | 16.99% | -11.83% | 4.28% |
SQQQ ProShares UltraPro Short QQQ | -38.86% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between PSLV and SQQQ is -0.34, 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 | -0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2010 | -0.16 |
The correlation between PSLV and SQQQ shifts across timeframes, from -0.34 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PSLV vs. SQQQ — Risk / Return Rank
PSLV
SQQQ
PSLV vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Silver Trust (PSLV) and ProShares UltraPro Short QQQ (SQQQ). 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.
| PSLV | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.83 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | -0.89 | +1.69 |
| Martin ratioReturn relative to average drawdown | 1.69 | -1.63 | +3.32 |
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Drawdowns
PSLV vs. SQQQ - Drawdown Comparison
The maximum PSLV drawdown since its inception was -79.38%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for PSLV and SQQQ.
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Drawdown Indicators
| PSLV | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.38% | -100.00% | +20.62% |
Max Drawdown (1Y)Largest decline over 1 year | -50.83% | -61.03% | +10.20% |
Max Drawdown (3Y)Largest decline over 3 years | -50.83% | -92.51% | +41.68% |
Max Drawdown (5Y)Largest decline over 5 years | -50.83% | -97.27% | +46.44% |
Max Drawdown (10Y)Largest decline over 10 years | -50.83% | -99.97% | +49.14% |
Current DrawdownCurrent decline from peak | -50.83% | -100.00% | +49.17% |
Average DrawdownAverage peak-to-trough decline | -58.04% | -92.76% | +34.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.86% | 33.36% | -9.50% |
Volatility
PSLV vs. SQQQ - Volatility Comparison
The current volatility for Sprott Physical Silver Trust (PSLV) is 13.10%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 22.32%. This indicates that PSLV experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSLV | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.10% | 22.32% | -9.22% |
Volatility (6M)Calculated over the trailing 6-month period | 56.50% | 46.22% | +10.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.94% | 55.87% | +5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.45% | 67.91% | -31.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.51% | 66.57% | -35.06% |
PSLV vs. SQQQ - Expense Ratio Comparison
PSLV has a 0.51% expense ratio, which is lower than SQQQ's 0.95% expense ratio.
Dividends
PSLV vs. SQQQ - Dividend Comparison
PSLV has not paid dividends to shareholders, while SQQQ's dividend yield for the trailing twelve months is around 9.77%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSLV Sprott Physical Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 9.77% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
PSLV and SQQQ have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (22.32%) compared to PSLV (13.10%). In terms of maximum drawdown, PSLV dropped -79.38% vs SQQQ's -100.00%.
On 10-year performance, PSLV leads with 8.78% vs -55.08% for SQQQ. On fees, PSLV is cheaper at 0.51% per year. On volatility, PSLV has been the lower-risk option at 13.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSLV has performed better with a 8.78% return vs -55.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSLV is cheaper with a 0.51% expense ratio, compared with 0.95% for SQQQ.
SQQQ has the higher dividend yield at 9.77%, compared with 0.00% for PSLV.
PSLV is categorized as Silver, while SQQQ is Leveraged Equities. PSLV tracks No Index (Physical Silver), while SQQQ tracks NASDAQ-100 Index (-300%). They also come from different issuers: Sprott and ProShares. Their fees differ too: 0.51% for PSLV and 0.95% for SQQQ.
PSLV currently has the higher Sharpe Ratio (0.66 vs -0.98), 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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