PSQ vs. QQQX
Compare and contrast key facts about ProShares Short QQQ (PSQ) and Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX).
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PSQ or QQQX.
Key characteristics
| PSQ | QQQX | |
|---|---|---|
| YTD Return | -4.07% | 2.97% |
| 1Y Return | -26.16% | 8.27% |
| 3Y Return (Ann) | -11.82% | 1.28% |
| 5Y Return (Ann) | -19.78% | 7.71% |
| 10Y Return (Ann) | -18.65% | 9.96% |
| Sharpe Ratio | -1.59 | 0.46 |
| Daily Std Dev | 16.31% | 15.73% |
| Max Drawdown | -97.57% | -57.25% |
| Current Drawdown | -97.48% | -9.55% |
Correlation
The correlation between PSQ and QQQX is -0.75. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
PSQ vs. QQQX - Performance Comparison
In the year-to-date period, PSQ achieves a -4.07% return, which is significantly lower than QQQX's 2.97% return. Over the past 10 years, PSQ has underperformed QQQX with an annualized return of -18.65%, while QQQX has yielded a comparatively higher 9.96% 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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Risk-Adjusted Performance
PSQ vs. QQQX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX). 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. QQQX - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 2.27%, less than QQQX's 7.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 2.27% | 1.20% | 0.07% | 0.00% | 0.06% | 0.35% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 7.17% | 7.26% | 9.66% | 5.85% | 6.00% | 6.49% | 8.40% | 5.95% | 7.54% | 7.23% | 7.07% | 6.79% |
Drawdowns
PSQ vs. QQQX - Drawdown Comparison
The maximum PSQ drawdown since its inception was -97.57%, which is greater than QQQX's maximum drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for PSQ and QQQX. For additional features, visit the drawdowns tool.
Volatility
PSQ vs. QQQX - Volatility Comparison
ProShares Short QQQ (PSQ) has a higher volatility of 5.83% compared to Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) at 5.16%. This indicates that PSQ's price experiences larger fluctuations and is considered to be riskier than QQQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.