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 -11.74%/yr vs -42.47%/yr for SNAP. Their -0.47 correlation means they have often moved in opposite directions in the past.
Performance
PSQ vs. SNAP - Performance Comparison
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Returns By Period
In the year-to-date period, PSQ achieves a -9.94% return, which is significantly higher than SNAP's -41.88% return.
PSQ
- 1D
- -0.59%
- 1M
- 5.59%
- 6M
- -9.19%
- YTD
- -9.94%
- 1Y
- -15.69%
- 3Y*
- -15.05%
- 5Y*
- -11.74%
- 10Y*
- -18.20%
- ALL TIME*
- -16.38%
SNAP
- 1D
- 0.00%
- 1M
- -1.26%
- 6M
- -32.32%
- YTD
- -41.88%
- 1Y
- -50.27%
- 3Y*
- -25.36%
- 5Y*
- -42.47%
- 10Y*
- —
- ALL TIME*
- -15.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $270.27M | $217.80M | $219.49M | |
SNAP Snap Inc. | $138.05M | $148.62M | $216.62M |
PSQ vs. SNAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | -9.94% | -15.51% | -15.68% | -32.01% | 36.40% | -24.84% | -41.23% | -27.49% | -2.34% | -16.47% |
SNAP Snap Inc. | -41.88% | -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 -0.37, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.37 |
Correlation (3Y) Balances recent behavior with more history. | -0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.53 |
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 -0.53 (5 years) to -0.37 (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 | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.84 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | -0.86 | +0.23 |
| Martin ratioReturn relative to average drawdown | -1.23 | -1.44 | +0.21 |
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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 | -24.83% | -58.50% | +33.67% |
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 | -87.66% | — | — |
Current DrawdownCurrent decline from peak | -98.12% | -94.36% | -3.76% |
Average DrawdownAverage peak-to-trough decline | -74.15% | -60.52% | -13.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.73% | 34.93% | -22.20% |
Volatility
PSQ vs. SNAP - Volatility Comparison
The current volatility for ProShares Short QQQ (PSQ) is 6.96%, while Snap Inc. (SNAP) has a volatility of 9.44%. 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 | 6.96% | 9.44% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 16.03% | 43.50% | -27.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.38% | 56.15% | -36.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.93% | 75.44% | -52.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.46% | 71.53% | -49.07% |
Dividends
PSQ vs. SNAP - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 4.26%, while SNAP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 4.26% | 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 -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SNAP has higher volatility (9.44%) compared to PSQ (6.96%). In terms of maximum drawdown, PSQ dropped -98.26% vs SNAP's -95.27%.
PSQ currently has the higher Sharpe Ratio (-0.81 vs -0.90), 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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