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PSQ vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between PSQ and SPY is -0.89. 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.


-0.50.00.51.0
Correlation: -0.9

Performance

PSQ vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short QQQ (PSQ) and SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

-100.00%0.00%100.00%200.00%300.00%400.00%500.00%600.00%NovemberDecember2025FebruaryMarchApril
-96.13%
522.79%
PSQ
SPY

Key characteristics

Sharpe Ratio

PSQ:

-0.35

SPY:

0.54

Sortino Ratio

PSQ:

-0.34

SPY:

0.89

Omega Ratio

PSQ:

0.95

SPY:

1.13

Calmar Ratio

PSQ:

-0.09

SPY:

0.58

Martin Ratio

PSQ:

-0.74

SPY:

2.39

Ulcer Index

PSQ:

11.91%

SPY:

4.51%

Daily Std Dev

PSQ:

25.06%

SPY:

20.07%

Max Drawdown

PSQ:

-97.65%

SPY:

-55.19%

Current Drawdown

PSQ:

-97.34%

SPY:

-10.54%

Returns By Period

In the year-to-date period, PSQ achieves a 7.60% return, which is significantly higher than SPY's -6.44% return. Over the past 10 years, PSQ has underperformed SPY with an annualized return of -16.27%, while SPY has yielded a comparatively higher 11.95% annualized return.


PSQ

YTD

7.60%

1M

3.29%

6M

4.45%

1Y

-7.21%

5Y*

-16.42%

10Y*

-16.27%

SPY

YTD

-6.44%

1M

-5.00%

6M

-5.02%

1Y

9.54%

5Y*

15.80%

10Y*

11.95%

*Annualized

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PSQ vs. SPY - Expense Ratio Comparison

PSQ has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.


Expense ratio chart for PSQ: current value is 0.95%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
PSQ: 0.95%
Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%

Risk-Adjusted Performance

PSQ vs. SPY — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PSQ
The Risk-Adjusted Performance Rank of PSQ is 1010
Overall Rank
The Sharpe Ratio Rank of PSQ is 88
Sharpe Ratio Rank
The Sortino Ratio Rank of PSQ is 88
Sortino Ratio Rank
The Omega Ratio Rank of PSQ is 88
Omega Ratio Rank
The Calmar Ratio Rank of PSQ is 1616
Calmar Ratio Rank
The Martin Ratio Rank of PSQ is 1010
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6565
Overall Rank
The Sharpe Ratio Rank of SPY is 6262
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 6464
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 6565
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 6969
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 6767
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

PSQ vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and SPDR S&P 500 ETF (SPY). 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.


The chart of Sharpe ratio for PSQ, currently valued at -0.35, compared to the broader market-1.000.001.002.003.004.00
PSQ: -0.35
SPY: 0.54
The chart of Sortino ratio for PSQ, currently valued at -0.34, compared to the broader market-2.000.002.004.006.008.00
PSQ: -0.34
SPY: 0.89
The chart of Omega ratio for PSQ, currently valued at 0.95, compared to the broader market0.501.001.502.00
PSQ: 0.95
SPY: 1.13
The chart of Calmar ratio for PSQ, currently valued at -0.09, compared to the broader market0.002.004.006.008.0010.0012.00
PSQ: -0.09
SPY: 0.58
The chart of Martin ratio for PSQ, currently valued at -0.74, compared to the broader market0.0020.0040.0060.00
PSQ: -0.74
SPY: 2.39

The current PSQ Sharpe Ratio is -0.35, which is lower than the SPY Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of PSQ and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-2.00-1.000.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
-0.35
0.54
PSQ
SPY

Dividends

PSQ vs. SPY - Dividend Comparison

PSQ's dividend yield for the trailing twelve months is around 6.20%, more than SPY's 1.31% yield.


TTM20242023202220212020201920182017201620152014
PSQ
ProShares Short QQQ
6.20%7.15%6.01%0.35%0.00%0.31%1.75%0.94%0.02%0.00%0.00%0.00%
SPY
SPDR S&P 500 ETF
1.31%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

PSQ vs. SPY - Drawdown Comparison

The maximum PSQ drawdown since its inception was -97.65%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PSQ and SPY. For additional features, visit the drawdowns tool.


-100.00%-80.00%-60.00%-40.00%-20.00%0.00%NovemberDecember2025FebruaryMarchApril
-97.34%
-10.54%
PSQ
SPY

Volatility

PSQ vs. SPY - Volatility Comparison

ProShares Short QQQ (PSQ) has a higher volatility of 17.42% compared to SPDR S&P 500 ETF (SPY) at 15.13%. This indicates that PSQ's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%NovemberDecember2025FebruaryMarchApril
17.42%
15.13%
PSQ
SPY