PSQ vs. MELI
PSQ (ProShares Short QQQ) is Inverse Equities fund tracking the NASDAQ-100 Index (-100%), while MELI (MercadoLibre, Inc.) is a stock. Over the past 10 years, PSQ returned -18.20%/yr vs 28.68%/yr for MELI. Their -0.55 correlation means they have often moved in opposite directions in the past.
Performance
PSQ vs. MELI - Performance Comparison
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Returns By Period
In the year-to-date period, PSQ achieves a -9.94% return, which is significantly lower than MELI's -6.77% return. Over the past 10 years, PSQ has underperformed MELI with an annualized return of -18.20%, while MELI has yielded a comparatively higher 28.68% annualized return.
PSQ
- 1D
- -0.59%
- 1M
- 5.59%
- 6M
- -9.19%
- YTD
- -9.94%
- 1Y
- -15.69%
- 3Y*
- -15.05%
- 5Y*
- -11.74%
- 10Y*
- -18.20%
- ALL TIME*
- -16.38%
MELI
- 1D
- -0.41%
- 1M
- 7.79%
- 6M
- -12.56%
- YTD
- -6.77%
- 1Y
- -20.89%
- 3Y*
- 15.77%
- 5Y*
- 3.66%
- 10Y*
- 28.68%
- ALL TIME*
- 26.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $585.82M | $641.09M | $903.00M | |
| $270.27M | $217.80M | $219.49M |
PSQ vs. MELI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | -9.94% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | -2.34% | -24.77% |
MELI MercadoLibre, Inc. | -6.77% | 18.46% | 8.20% | 85.71% | -37.24% | -19.51% | 192.90% | 95.30% | -6.93% | 101.99% |
Correlation
The correlation between PSQ and MELI is -0.33, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.33 |
Correlation (3Y) Balances recent behavior with more history. | -0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2007 | -0.55 |
Over the past year, the inverse relationship between PSQ and MELI has weakened: their correlation has moved from -0.55 to -0.33, meaning they move in opposite directions less often than they have historically.
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Return for Risk
PSQ vs. MELI — Risk / Return Rank
PSQ
MELI
PSQ vs. MELI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and MercadoLibre, Inc. (MELI). 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.
| PSQ | MELI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.93 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | -0.55 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.23 | -0.90 | -0.33 |
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Drawdowns
PSQ vs. MELI - Drawdown Comparison
The maximum PSQ drawdown since its inception was -98.26%, which is greater than MELI's maximum drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for PSQ and MELI.
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Drawdown Indicators
| PSQ | MELI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.26% | -89.49% | -8.77% |
Max Drawdown (1Y)Largest decline over 1 year | -24.83% | -38.40% | +13.57% |
Max Drawdown (3Y)Largest decline over 3 years | -49.65% | -40.82% | -8.83% |
Max Drawdown (5Y)Largest decline over 5 years | -60.91% | -68.64% | +7.73% |
Max Drawdown (10Y)Largest decline over 10 years | -87.66% | -69.12% | -18.54% |
Current DrawdownCurrent decline from peak | -98.12% | -28.15% | -69.97% |
Average DrawdownAverage peak-to-trough decline | -74.15% | -23.65% | -50.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.73% | 23.25% | -10.52% |
Volatility
PSQ vs. MELI - Volatility Comparison
ProShares Short QQQ (PSQ) has a higher volatility of 6.96% compared to MercadoLibre, Inc. (MELI) at 5.73%. This indicates that PSQ's price experiences larger fluctuations and is considered to be riskier than MELI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSQ | MELI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.96% | 5.73% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 16.03% | 28.58% | -12.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.38% | 39.80% | -20.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.93% | 49.68% | -26.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.46% | 48.88% | -26.42% |
Dividends
PSQ vs. MELI - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 4.26%, while MELI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MELI MercadoLibre, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.38% | 0.36% |
PSQ ProShares Short QQQ | 4.26% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% | 0.00% | 0.00% |
Frequently Asked Questions
PSQ and MELI have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSQ has higher volatility (6.96%) compared to MELI (5.73%). In terms of maximum drawdown, PSQ dropped -98.26% vs MELI's -89.49%.
MELI currently has the higher Sharpe Ratio (-0.53 vs -0.81), 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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