PSP vs. TQQQ
Compare and contrast key facts about Invesco Global Listed Private Equity ETF (PSP) and ProShares UltraPro QQQ (TQQQ).
PSP and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSP is a passively managed fund by Invesco that tracks the performance of the Red Rocks Global Listed Private Equity Index. It was launched on Oct 24, 2006. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both PSP and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PSP or TQQQ.
Performance
PSP vs. TQQQ - Performance Comparison
Returns By Period
In the year-to-date period, PSP achieves a 19.07% return, which is significantly lower than TQQQ's 51.05% return. Over the past 10 years, PSP has underperformed TQQQ with an annualized return of 8.82%, while TQQQ has yielded a comparatively higher 34.34% annualized return.
PSP
19.07%
-0.76%
11.03%
37.15%
9.44%
8.82%
TQQQ
51.05%
1.51%
18.78%
78.21%
33.37%
34.34%
Key characteristics
| PSP | TQQQ | |
|---|---|---|
| Sharpe Ratio | 2.20 | 1.51 |
| Sortino Ratio | 2.87 | 1.97 |
| Omega Ratio | 1.37 | 1.26 |
| Calmar Ratio | 1.40 | 1.53 |
| Martin Ratio | 14.54 | 6.29 |
| Ulcer Index | 2.70% | 12.45% |
| Daily Std Dev | 17.87% | 52.01% |
| Max Drawdown | -85.40% | -81.66% |
| Current Drawdown | -2.75% | -11.61% |
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PSP vs. TQQQ - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Correlation
The correlation between PSP and TQQQ is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
PSP vs. TQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and ProShares UltraPro QQQ (TQQQ). 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.
Dividends
PSP vs. TQQQ - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 7.71%, more than TQQQ's 1.26% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 7.71% | 3.96% | 2.87% | 10.33% | 4.66% | 5.86% | 6.80% | 10.18% | 4.11% | 6.23% | 4.94% | 13.48% |
TQQQ ProShares UltraPro QQQ | 1.26% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% | 0.03% | 0.00% |
Drawdowns
PSP vs. TQQQ - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for PSP and TQQQ. For additional features, visit the drawdowns tool.
Volatility
PSP vs. TQQQ - Volatility Comparison
The current volatility for Invesco Global Listed Private Equity ETF (PSP) is 5.84%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 16.92%. This indicates that PSP experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.