PSQ vs. SNAP
PSQ (ProShares Short QQQ) is Inverse Equities fund tracking the NASDAQ-100 Index (-100%), while SNAP (Snap Inc.) is a stock. Over the past 5 years, PSQ returned -13.78%/yr vs -39.35%/yr for SNAP. At a correlation of -0.47, they often move in opposite directions.
Performance
PSQ vs. SNAP - Performance Comparison
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Returns By Period
In the year-to-date period, PSQ achieves a -14.02% return, which is significantly higher than SNAP's -34.82% return.
PSQ
- 1D
- -0.65%
- 1M
- -1.75%
- YTD
- -14.02%
- 6M
- -14.04%
- 1Y
- -24.40%
- 3Y*
- -17.58%
- 5Y*
- -13.78%
- 10Y*
- -19.15%
SNAP
- 1D
- -1.31%
- 1M
- -4.88%
- YTD
- -34.82%
- 6M
- -28.04%
- 1Y
- -33.75%
- 3Y*
- -20.12%
- 5Y*
- -39.35%
- 10Y*
- —
PSQ vs. SNAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | -14.02% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | -2.34% | -16.47% |
SNAP Snap Inc. | -34.82% | -25.07% | -36.39% | 89.16% | -80.97% | -6.07% | 206.61% | 196.37% | -62.29% | -39.12% |
Correlation
The correlation between PSQ and SNAP is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2017 | -0.47 |
The correlation between PSQ and SNAP shifts across timeframes, from -0.54 (5 years) to -0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PSQ vs. SNAP — Risk / Return Rank
PSQ
SNAP
PSQ vs. SNAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and Snap Inc. (SNAP). 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 | SNAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.91 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.59 | -0.28 |
| Martin ratioReturn relative to average drawdown | -1.81 | -1.06 | -0.74 |
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Drawdowns
PSQ vs. SNAP - Drawdown Comparison
The maximum PSQ drawdown since its inception was -98.26%, roughly equal to the maximum SNAP drawdown of -95.27%. Use the drawdown chart below to compare losses from any high point for PSQ and SNAP.
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Drawdown Indicators
| PSQ | SNAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.26% | -95.27% | -2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -26.86% | -62.03% | +35.17% |
Max Drawdown (3Y)Largest decline over 3 years | -49.65% | -77.48% | +27.83% |
Max Drawdown (5Y)Largest decline over 5 years | -60.91% | -95.27% | +34.36% |
Max Drawdown (10Y)Largest decline over 10 years | -88.98% | — | — |
Current DrawdownCurrent decline from peak | -98.20% | -93.67% | -4.53% |
Average DrawdownAverage peak-to-trough decline | -73.99% | -60.04% | -13.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.96% | 34.45% | -21.49% |
Volatility
PSQ vs. SNAP - Volatility Comparison
The current volatility for ProShares Short QQQ (PSQ) is 7.39%, while Snap Inc. (SNAP) has a volatility of 12.67%. This indicates that PSQ experiences smaller price fluctuations and is considered to be less risky than SNAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSQ | SNAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 12.67% | -5.28% |
Volatility (6M)Calculated over the trailing 6-month period | 13.75% | 41.17% | -27.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.23% | 55.41% | -38.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.59% | 75.96% | -53.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.34% | 71.73% | -49.39% |
Dividends
PSQ vs. SNAP - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 5.09%, while SNAP has not paid dividends to shareholders.
| 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% |
SNAP Snap Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PSQ and SNAP have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SNAP has higher volatility (12.67%) compared to PSQ (7.39%). In terms of maximum drawdown, PSQ dropped -98.26% vs SNAP's -95.27%.
SNAP currently has the higher Sharpe Ratio (-0.66 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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