PSQ vs. PLTD

Last updated Jun 4, 2026

PSQ (ProShares Short QQQ) and PLTD (Direxion Daily PLTR Bear 1X Shares) are both Inverse Equities funds - PSQ tracks the NASDAQ-100 Index (-100%) while PLTD tracks the Palantir Technologies Inc. (-100%). Both are passively managed. Over the past year, PSQ returned -26.29% vs -22.19% for PLTD. A 0.58 correlation means they provide meaningful diversification when combined. PSQ charges 0.95%/yr vs 0.98%/yr for PLTD.

Performance

PSQ vs. PLTD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short QQQ (PSQ) and Direxion Daily PLTR Bear 1X Shares (PLTD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSQ achieves a -16.45% return, which is significantly lower than PLTD's 13.23% return.

PSQ

• 1D: 0.28%
• 1M: -9.35%
• YTD: -16.45%
• 6M: -14.96%
• 1Y: -26.29%
• 3Y*: -18.98%
• 5Y*: -14.55%
• 10Y*: -19.23%

PLTD

• 1D: 6.63%
• 1M: -0.00%
• YTD: 13.23%
• 6M: 11.78%
• 1Y: -22.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSQ vs. PLTD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PSQ ProShares Short QQQ	-16.45%	-15.51%	3.76%
PLTD Direxion Daily PLTR Bear 1X Shares	13.23%	-70.53%	-5.12%

Correlation

The correlation between PSQ and PLTD is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	0.58

The correlation between PSQ and PLTD has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.

Return for Risk

PSQ vs. PLTD — Risk / Return Rank

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

PSQ

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

PLTD

PLTD Risk / Return Rank: 5
PLTD Sharpe Ratio Rank: 5
PLTD Sortino Ratio Rank: 6
PLTD Omega Ratio Rank: 6
PLTD Calmar Ratio Rank: 5
PLTD Martin Ratio Rank: 6

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. PLTD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and Direxion Daily PLTR Bear 1X Shares (PLTD). 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.

	PSQ	PLTD	Difference
Sharpe ratio: Return per unit of total volatility	-1.65	-0.43	-1.22
Sortino ratio: Return per unit of downside risk	-2.46	-0.34	-2.12
Omega ratio: Gain probability vs. loss probability	0.74	0.96	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.98	-0.50	-0.48
Martin ratio: Return relative to average drawdown	-2.12	-0.74	-1.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSQ vs. PLTD - Sharpe Ratio Comparison

The current PSQ Sharpe Ratio is -1.65, which is lower than the PLTD Sharpe Ratio of -0.43. The chart below compares the historical Sharpe Ratios of PSQ and PLTD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PSQ	PLTD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.65	-0.43	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.65	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.76	-0.86	+0.09

Drawdowns

PSQ vs. PLTD - Drawdown Comparison

The maximum PSQ drawdown since its inception was -98.26%, which is greater than PLTD's maximum drawdown of -77.34%. Use the drawdown chart below to compare losses from any high point for PSQ and PLTD.

Drawdown Indicators

	PSQ	PLTD	Difference
Max Drawdown Largest peak-to-trough decline	-98.26%	-77.34%	-20.92%
Max Drawdown (1Y) Largest decline over 1 year	-26.93%	-44.79%	+17.86%
Max Drawdown (3Y) Largest decline over 3 years	-49.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-60.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-88.98%	—	—
Current Drawdown Current decline from peak	-98.25%	-71.01%	-27.24%
Average Drawdown Average peak-to-trough decline	-73.97%	-59.43%	-14.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.41%	30.14%	-17.73%

Volatility

PSQ vs. PLTD - Volatility Comparison

The current volatility for ProShares Short QQQ (PSQ) is 4.50%, while Direxion Daily PLTR Bear 1X Shares (PLTD) has a volatility of 18.68%. This indicates that PSQ experiences smaller price fluctuations and is considered to be less risky than PLTD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSQ	PLTD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	18.68%	-14.18%
Volatility (6M) Calculated over the trailing 6-month period	12.14%	38.02%	-25.88%
Volatility (1Y) Calculated over the trailing 1-year period	16.01%	51.79%	-35.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.43%	63.73%	-41.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.25%	63.73%	-41.48%

PSQ vs. PLTD - Expense Ratio Comparison

PSQ has a 0.95% expense ratio, which is lower than PLTD's 0.98% expense ratio.

Dividends

PSQ vs. PLTD - Dividend Comparison

PSQ's dividend yield for the trailing twelve months is around 5.24%, more than PLTD's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLTD Direxion Daily PLTR Bear 1X Shares	3.26%	5.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSQ ProShares Short QQQ	5.24%	4.97%	7.15%	6.01%	0.35%	0.00%	0.31%	1.75%	0.95%	0.02%

Frequently Asked Questions

Can I hold both PSQ and PLTD in my portfolio?

PSQ and PLTD have a correlation of 0.50, 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 PLTD?

PLTD has higher volatility (18.68%) compared to PSQ (4.50%). In terms of maximum drawdown, PSQ dropped -98.26% vs PLTD's -77.34%.

Which ETF is better, PSQ or PLTD?

On 1-year performance, PLTD leads with -22.19% vs -26.29% for PSQ. On fees, PSQ is cheaper at 0.95% per year. On volatility, PSQ has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSQ or PLTD?

Over the 1-year period, PLTD has performed better with a -22.19% return vs -26.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSQ or PLTD?

PSQ is cheaper with a 0.95% expense ratio, compared with 0.98% for PLTD.

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

PSQ has the higher dividend yield at 5.24%, compared with 3.26% for PLTD.

What is the main difference between PSQ and PLTD?

PSQ tracks NASDAQ-100 Index (-100%), while PLTD tracks Palantir Technologies Inc. (-100%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for PSQ and 0.98% for PLTD.

Which has better risk-adjusted returns?

PLTD currently has the higher Sharpe Ratio (-0.43 vs -1.65), 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.