PSQ vs. QID
Compare and contrast key facts about ProShares Short QQQ (PSQ) and ProShares UltraShort QQQ (QID).
PSQ and QID are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-100%). It was launched on Jun 19, 2006. QID is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-200%). It was launched on Jul 11, 2006. Both PSQ and QID 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: PSQ or QID.
Key characteristics
| PSQ | QID | |
|---|---|---|
| YTD Return | -16.58% | -34.89% |
| 1Y Return | -22.28% | -44.02% |
| 3Y Return (Ann) | -8.78% | -23.66% |
| 5Y Return (Ann) | -20.26% | -41.48% |
| 10Y Return (Ann) | -17.68% | -35.96% |
| Sharpe Ratio | -1.37 | -1.33 |
| Sortino Ratio | -2.02 | -2.19 |
| Omega Ratio | 0.78 | 0.76 |
| Calmar Ratio | -0.25 | -0.46 |
| Martin Ratio | -1.70 | -1.62 |
| Ulcer Index | 14.11% | 28.61% |
| Daily Std Dev | 17.41% | 34.80% |
| Max Drawdown | -97.55% | -99.97% |
| Current Drawdown | -97.55% | -99.97% |
Correlation
The correlation between PSQ and QID is 0.99, 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.
Performance
PSQ vs. QID - Performance Comparison
In the year-to-date period, PSQ achieves a -16.58% return, which is significantly higher than QID's -34.89% return. Over the past 10 years, PSQ has outperformed QID with an annualized return of -17.68%, while QID has yielded a comparatively lower -35.96% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PSQ vs. QID - Expense Ratio Comparison
Both PSQ and QID have an expense ratio of 0.95%.
Risk-Adjusted Performance
PSQ vs. QID - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and ProShares UltraShort QQQ (QID). 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
PSQ vs. QID - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 7.76%, less than QID's 9.54% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 7.76% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.94% | 0.02% |
QID ProShares UltraShort QQQ | 9.54% | 5.64% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.07% |
Drawdowns
PSQ vs. QID - Drawdown Comparison
The maximum PSQ drawdown since its inception was -97.55%, roughly equal to the maximum QID drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for PSQ and QID. For additional features, visit the drawdowns tool.
Volatility
PSQ vs. QID - Volatility Comparison
The current volatility for ProShares Short QQQ (PSQ) is 5.19%, while ProShares UltraShort QQQ (QID) has a volatility of 10.34%. This indicates that PSQ experiences smaller price fluctuations and is considered to be less risky than QID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.