PSQ vs. SGOV
PSQ (ProShares Short QQQ) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - PSQ is a Inverse Equities fund tracking the NASDAQ-100 Index (-100%), while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, PSQ returned -13.78%/yr vs 3.56%/yr for SGOV. At a 0.02 correlation, their price movements are largely independent. PSQ charges 0.95%/yr vs 0.09%/yr for SGOV.
Performance
PSQ vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, PSQ achieves a -14.02% return, which is significantly lower than SGOV's 1.61% return.
PSQ
- 1D
- -0.65%
- 1M
- -0.23%
- YTD
- -14.02%
- 6M
- -14.04%
- 1Y
- -24.40%
- 3Y*
- -17.58%
- 5Y*
- -13.78%
- 10Y*
- -19.15%
SGOV
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.61%
- 6M
- 1.78%
- 1Y
- 3.91%
- 3Y*
- 4.71%
- 5Y*
- 3.56%
- 10Y*
- —
PSQ vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | -14.02% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -30.01% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.61% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between PSQ and SGOV is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | 0.02 |
The correlation between PSQ and SGOV shifts across timeframes, from 0.01 (5 years) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PSQ vs. SGOV — Risk / Return Rank
PSQ
SGOV
PSQ vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.64 | ||
| Sortino ratioReturn per unit of downside risk | -277.72 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 195.55 | -194.77 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 398.20 | -399.07 |
| Martin ratioReturn relative to average drawdown | -1.81 | 4,461.98 | -4,463.79 |
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Drawdowns
PSQ vs. SGOV - Drawdown Comparison
The maximum PSQ drawdown since its inception was -98.26%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for PSQ and SGOV.
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Drawdown Indicators
| PSQ | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.26% | -0.03% | -98.23% |
Max Drawdown (1Y)Largest decline over 1 year | -26.86% | -0.01% | -26.85% |
Max Drawdown (3Y)Largest decline over 3 years | -49.65% | -0.01% | -49.64% |
Max Drawdown (5Y)Largest decline over 5 years | -60.91% | -0.03% | -60.88% |
Max Drawdown (10Y)Largest decline over 10 years | -88.98% | — | — |
Current DrawdownCurrent decline from peak | -98.20% | 0.00% | -98.20% |
Average DrawdownAverage peak-to-trough decline | -73.99% | -0.00% | -73.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.96% | 0.00% | +12.96% |
Volatility
PSQ vs. SGOV - Volatility Comparison
ProShares Short QQQ (PSQ) has a higher volatility of 7.39% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that PSQ's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSQ | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 0.05% | +7.34% |
Volatility (6M)Calculated over the trailing 6-month period | 13.75% | 0.13% | +13.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.23% | 0.20% | +17.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.59% | 0.24% | +22.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.34% | 0.24% | +22.10% |
PSQ vs. SGOV - Expense Ratio Comparison
PSQ has a 0.95% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
PSQ vs. SGOV - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 5.09%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 5.09% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PSQ and SGOV have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSQ has higher volatility (7.39%) compared to SGOV (0.05%). In terms of maximum drawdown, PSQ dropped -98.26% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.56% vs -13.78% for PSQ. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.56% return vs -13.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.95% for PSQ.
PSQ has the higher dividend yield at 5.09%, compared with 3.85% for SGOV.
PSQ is categorized as Inverse Equities, while SGOV is Ultrashort Bond. PSQ tracks NASDAQ-100 Index (-100%), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for PSQ and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -1.36), 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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