PSQ vs. PID

Last updated Jun 26, 2026

PSQ (ProShares Short QQQ) and PID (Invesco International Dividend Achievers™ ETF) are both exchange-traded funds - PSQ is a Inverse Equities fund tracking the NASDAQ-100 Index (-100%), while PID is a Global Equities fund tracking the Nasdaq International Dividend Achievers (NR). Both are passively managed. Over the past 10 years, PSQ returned -19.50%/yr vs 9.31%/yr for PID. At a correlation of -0.63, they often move in opposite directions. PSQ charges 0.95%/yr vs 0.56%/yr for PID.

Performance

PSQ vs. PID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short QQQ (PSQ) and Invesco International Dividend Achievers™ ETF (PID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSQ achieves a -13.60% return, which is significantly lower than PID's 3.17% return. Over the past 10 years, PSQ has underperformed PID with an annualized return of -19.50%, while PID has yielded a comparatively higher 9.31% annualized return.

PSQ

• 1D: -0.81%
• 1M: 1.60%
• YTD: -13.60%
• 6M: -12.17%
• 1Y: -21.99%
• 3Y*: -17.92%
• 5Y*: -13.25%
• 10Y*: -19.50%

PID

• 1D: 0.27%
• 1M: -3.09%
• YTD: 3.17%
• 6M: 2.70%
• 1Y: 14.46%
• 3Y*: 11.88%
• 5Y*: 8.27%
• 10Y*: 9.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PSQ vs. PID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSQ ProShares Short QQQ	-13.60%	-15.51%	-15.68%	-32.01%	36.40%	-24.84%	-41.23%	-27.49%	-2.34%	-24.77%
PID Invesco International Dividend Achievers™ ETF	3.17%	24.45%	3.08%	14.28%	-6.48%	24.49%	-6.56%	25.87%	-11.46%	19.05%

Correlation

The correlation between PSQ and PID is -0.39, 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	-0.39
Correlation (3Y) Calculated over the trailing 3-year period	-0.44
Correlation (5Y) Calculated over the trailing 5-year period	-0.52
Correlation (10Y) Calculated over the trailing 10-year period	-0.55
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	-0.63

Over the past year, the inverse relationship between PSQ and PID has weakened: their correlation has moved from -0.63 to -0.39, meaning they move in opposite directions less often than they have historically.

PSQ vs. PID - Sectors Allocation Comparison

Sectors	PSQ	PID
Financial Services	95.1%	17.5%
Basic Materials	-	3.3%
Communication Services	-	13.7%
Consumer Cyclical	-	6.2%
Consumer Defensive	-	6.2%
Energy	-	12.5%
Healthcare	-	8.6%
Industrials	-	7.5%
Real Estate	-	0.4%
Technology	-	9.1%
Utilities	-	15.1%

Return for Risk

PSQ vs. PID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PSQ

PSQ Risk / Return Rank: 1
PSQ Sharpe Ratio Rank: 0
PSQ Sortino Ratio Rank: 1
PSQ Omega Ratio Rank: 1
PSQ Calmar Ratio Rank: 1
PSQ Martin Ratio Rank: 0

PID

PID Risk / Return Rank: 47
PID Sharpe Ratio Rank: 49
PID Sortino Ratio Rank: 51
PID Omega Ratio Rank: 47
PID Calmar Ratio Rank: 44
PID Martin Ratio Rank: 43

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.

PSQ vs. PID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and Invesco International Dividend Achievers™ ETF (PID). 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	PID	Difference
Sharpe ratio: Return per unit of total volatility	-1.23	1.48	-2.72
Sortino ratio: Return per unit of downside risk	-1.82	2.20	-4.02
Omega ratio: Gain probability vs. loss probability	0.80	1.27	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.89	1.94	-2.83
Martin ratio: Return relative to average drawdown	-1.97	6.30	-8.26

PSQ vs. PID - Sharpe Ratio Comparison

The current PSQ Sharpe Ratio is -1.23, which is lower than the PID Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of PSQ and PID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PSQ vs. PID - Drawdown Comparison

The maximum PSQ drawdown since its inception was -98.26%, which is greater than PID's maximum drawdown of -66.34%. Use the drawdown chart below to compare losses from any high point for PSQ and PID.

Drawdown Indicators

	PSQ	PID	Difference
Max Drawdown Largest peak-to-trough decline	-98.26%	-66.34%	-31.92%
Max Drawdown (1Y) Largest decline over 1 year	-24.83%	-7.47%	-17.36%
Max Drawdown (3Y) Largest decline over 3 years	-49.65%	-13.34%	-36.31%
Max Drawdown (5Y) Largest decline over 5 years	-60.91%	-22.97%	-37.94%
Max Drawdown (10Y) Largest decline over 10 years	-88.75%	-46.07%	-42.68%
Current Drawdown Current decline from peak	-98.19%	-4.31%	-93.88%
Average Drawdown Average peak-to-trough decline	-74.03%	-13.01%	-61.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.61%	2.30%	+9.31%

Volatility

PSQ vs. PID - Volatility Comparison

ProShares Short QQQ (PSQ) has a higher volatility of 8.79% compared to Invesco International Dividend Achievers™ ETF (PID) at 2.66%. This indicates that PSQ's price experiences larger fluctuations and is considered to be riskier than PID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSQ	PID	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.79%	2.66%	+6.13%
Volatility (6M) Calculated over the trailing 6-month period	14.44%	7.87%	+6.57%
Volatility (1Y) Calculated over the trailing 1-year period	17.88%	9.82%	+8.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.72%	13.96%	+8.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.36%	17.66%	+4.70%

PSQ vs. PID - Expense Ratio Comparison

PSQ has a 0.95% expense ratio, which is higher than PID's 0.56% expense ratio.

Dividends

PSQ vs. PID - Dividend Comparison

PSQ's dividend yield for the trailing twelve months is around 4.44%, more than PID's 3.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PID Invesco International Dividend Achievers™ ETF	3.61%	3.28%	3.88%	3.31%	3.30%	3.30%	3.16%	3.99%	3.87%	3.46%	3.90%	4.48%
PSQ ProShares Short QQQ	4.44%	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

Can I hold both PSQ and PID in my portfolio?

PSQ and PID have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSQ or PID?

PSQ has higher volatility (8.79%) compared to PID (2.66%). In terms of maximum drawdown, PSQ dropped -98.26% vs PID's -66.34%.

Which ETF is better, PSQ or PID?

On 10-year performance, PID leads with 9.31% vs -19.50% for PSQ. On fees, PID is cheaper at 0.56% per year. On volatility, PID has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSQ or PID?

Over the 10-year period, PID has performed better with a 9.31% return vs -19.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSQ or PID?

PID is cheaper with a 0.56% expense ratio, compared with 0.95% for PSQ.

Which ETF pays a higher dividend yield, PSQ or PID?

PSQ has the higher dividend yield at 4.44%, compared with 3.61% for PID.

What is the main difference between PSQ and PID?

PSQ is categorized as Inverse Equities, while PID is Global Equities. PSQ tracks NASDAQ-100 Index (-100%), while PID tracks Nasdaq International Dividend Achievers (NR). They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for PSQ and 0.56% for PID.

Which has better risk-adjusted returns?

PID currently has the higher Sharpe Ratio (1.48 vs -1.23), 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.