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PSLV vs. SQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PSLV vs. SQQQ

Last updated Jun 5, 2026

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 14.02%/yr vs -55.90%/yr for SQQQ. At a correlation of -0.15, they often move in opposite directions. PSLV charges 0.51%/yr vs 0.95%/yr for SQQQ.

Performance

PSLV vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Silver Trust (PSLV) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PSLV achieves a -0.89% return, which is significantly higher than SQQQ's -44.43% return. Over the past 10 years, PSLV has outperformed SQQQ with an annualized return of 14.02%, while SQQQ has yielded a comparatively lower -55.90% annualized return.

PSLV

1D
0.90%
1M
-0.64%
YTD
-0.89%
6M
23.11%
1Y
102.24%
3Y*
42.33%
5Y*
18.65%
10Y*
14.02%

SQQQ

1D
1.53%
1M
-22.29%
YTD
-44.43%
6M
-42.11%
1Y
-64.38%
3Y*
-55.94%
5Y*
-49.01%
10Y*
-55.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PSLV vs. SQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PSLV
Sprott Physical Silver Trust		-0.89%145.08%19.43%-1.94%2.74%-14.13%42.81%16.99%-11.83%4.28%
SQQQ
ProShares UltraPro Short QQQ		-44.43%-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 -0.26, 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

-0.26

Correlation (3Y)
Calculated over the trailing 3-year period

-0.23

Correlation (5Y)
Calculated over the trailing 5-year period

-0.20

Correlation (10Y)
Calculated over the trailing 10-year period

-0.18

Correlation (All Time)
Calculated using the full available price history since Nov 1, 2010

-0.15

The correlation between PSLV and SQQQ shifts across timeframes, from -0.26 (1 year) to -0.15 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Sprott Physical Silver Trust

ProShares UltraPro Short QQQ

Often compared with PSLV:
PSLV vs. SLVPSLV vs. SILPSLV vs. SVR.TOPSLV vs. SLVPPSLV vs. AGPSLV vs. GLDPSLV vs. GOLD
Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. UVXYSQQQ vs. SPXUSQQQ vs. QID

Return for Risk

PSLV vs. SQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PSLV
PSLV Risk / Return Rank: 4747
Overall Rank
PSLV Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
PSLV Sortino Ratio Rank: 3939
Sortino Ratio Rank
PSLV Omega Ratio Rank: 5454
Omega Ratio Rank
PSLV Calmar Ratio Rank: 5252
Calmar Ratio Rank
PSLV Martin Ratio Rank: 3737
Martin Ratio Rank
SQQQ
SQQQ Risk / Return Rank: 00
Overall Rank
SQQQ Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 00
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 00
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 00
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 00
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

PSLVSQQQDifference
Sharpe ratioReturn per unit of total volatility
1.76
-1.35

+3.11

Sortino ratioReturn per unit of downside risk
1.99
-2.57

+4.55

Omega ratioGain probability vs. loss probability

1.33

0.73

+0.60

Calmar ratioReturn relative to maximum drawdown

2.53

-0.98

+3.51

Martin ratioReturn relative to average drawdown

5.58

-1.79

+7.37

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSLV vs. SQQQ - Sharpe Ratio Comparison

The current PSLV Sharpe Ratio is 1.76, which is higher than the SQQQ Sharpe Ratio of -1.35. The chart below compares the historical Sharpe Ratios of PSLV and SQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PSLVSQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.76

-1.35

+3.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

-0.74

+1.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

-0.85

+1.30

Sharpe Ratio (All Time)

Calculated using the full available price history

0.17

-0.88

+1.05

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

PSLVSQQQDifference

Max Drawdown

Largest peak-to-trough decline

-79.38%

-100.00%

+20.62%

Max Drawdown (1Y)

Largest decline over 1 year

-40.65%

-65.95%

+25.30%

Max Drawdown (3Y)

Largest decline over 3 years

-40.65%

-92.38%

+51.73%

Max Drawdown (5Y)

Largest decline over 5 years

-40.65%

-97.23%

+56.58%

Max Drawdown (10Y)

Largest decline over 10 years

-42.79%

-99.98%

+57.19%

Current Drawdown

Current decline from peak

-35.53%

-100.00%

+64.47%

Average Drawdown

Average peak-to-trough decline

-58.15%

-92.40%

+34.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

18.38%

35.96%

-17.58%

Volatility

PSLV vs. SQQQ - Volatility Comparison

Sprott Physical Silver Trust (PSLV) has a higher volatility of 16.60% compared to ProShares UltraPro Short QQQ (SQQQ) at 13.81%. This indicates that PSLV's price experiences larger fluctuations and is considered to be riskier 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

PSLVSQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.60%

13.81%

+2.79%

Volatility (6M)

Calculated over the trailing 6-month period

57.34%

36.46%

+20.88%

Volatility (1Y)

Calculated over the trailing 1-year period

58.49%

47.79%

+10.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.64%

66.61%

-30.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.14%

66.10%

-34.96%

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 12.29%.

PositionTTM202520242023202220212020201920182017
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		12.29%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 -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PSLV has higher volatility (16.60%) compared to SQQQ (13.81%). In terms of maximum drawdown, PSLV dropped -79.38% vs SQQQ's -100.00%.

On 10-year performance, PSLV leads with 14.02% vs -55.90% for SQQQ. On fees, PSLV is cheaper at 0.51% per year. On volatility, SQQQ has been the lower-risk option at 13.81%. 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 14.02% return vs -55.90%. 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 12.29%, 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 (1.76 vs -1.35), 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.

Portfolio Optimizer

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