PSQ vs. YQQQ
PSQ (ProShares Short QQQ) and YQQQ (YieldMax Short N100 Option Income Strategy ETF) are both exchange-traded funds - PSQ is a Inverse Equities fund tracking the NASDAQ-100 Index (-100%), while YQQQ is a Derivative Income fund actively managed by YieldMax. PSQ is passively managed, while YQQQ is actively managed. Over the past year, PSQ returned -26.29% vs -14.25% for YQQQ. Their correlation of 0.95 suggests significant overlap in exposure. PSQ charges 0.95%/yr vs 0.99%/yr for YQQQ.
Performance
PSQ vs. YQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, PSQ achieves a -16.45% return, which is significantly lower than YQQQ's -8.94% return.
PSQ
- 1D
- 0.28%
- 1M
- -9.35%
- YTD
- -16.45%
- 6M
- -14.96%
- 1Y
- -26.29%
- 3Y*
- -18.98%
- 5Y*
- -14.55%
- 10Y*
- -19.23%
YQQQ
- 1D
- 0.06%
- 1M
- -7.64%
- YTD
- -8.94%
- 6M
- -6.62%
- 1Y
- -14.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PSQ vs. YQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PSQ ProShares Short QQQ | -16.45% | -15.51% | -5.48% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | -8.94% | -9.97% | -4.06% |
Correlation
The correlation between PSQ and YQQQ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2024 | 0.95 |
The correlation between PSQ and YQQQ has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
PSQ vs. YQQQ — Risk / Return Rank
PSQ
YQQQ
PSQ vs. YQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short QQQ (PSQ) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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.
| PSQ | YQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 0.83 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.69 | -0.29 |
| Martin ratioReturn relative to average drawdown | -2.12 | -1.68 | -0.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PSQ | YQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.65 | -1.14 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.76 | -0.77 | +0.01 |
Drawdowns
PSQ vs. YQQQ - Drawdown Comparison
The maximum PSQ drawdown since its inception was -98.26%, which is greater than YQQQ's maximum drawdown of -28.21%. Use the drawdown chart below to compare losses from any high point for PSQ and YQQQ.
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Drawdown Indicators
| PSQ | YQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.26% | -28.21% | -70.05% |
Max Drawdown (1Y)Largest decline over 1 year | -26.93% | -20.82% | -6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -49.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -60.91% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -88.98% | — | — |
Current DrawdownCurrent decline from peak | -98.25% | -28.17% | -70.08% |
Average DrawdownAverage peak-to-trough decline | -73.97% | -14.22% | -59.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.41% | 8.52% | +3.89% |
Volatility
PSQ vs. YQQQ - Volatility Comparison
ProShares Short QQQ (PSQ) has a higher volatility of 4.50% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 3.90%. This indicates that PSQ's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSQ | YQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.50% | 3.90% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 12.14% | 9.87% | +2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.01% | 12.51% | +3.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.43% | 16.26% | +6.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.25% | 16.26% | +5.99% |
PSQ vs. YQQQ - Expense Ratio Comparison
PSQ has a 0.95% expense ratio, which is lower than YQQQ's 0.99% expense ratio.
Dividends
PSQ vs. YQQQ - Dividend Comparison
PSQ's dividend yield for the trailing twelve months is around 5.24%, less than YQQQ's 31.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PSQ ProShares Short QQQ | 5.24% | 4.97% | 7.15% | 6.01% | 0.35% | 0.00% | 0.31% | 1.75% | 0.95% | 0.02% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | 31.75% | 31.71% | 7.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, PSQ and YQQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PSQ has higher volatility (4.50%) compared to YQQQ (3.90%). In terms of maximum drawdown, PSQ dropped -98.26% vs YQQQ's -28.21%.
On 1-year performance, YQQQ leads with -14.25% vs -26.29% for PSQ. On fees, PSQ is cheaper at 0.95% per year. On volatility, YQQQ has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, YQQQ has performed better with a -14.25% return vs -26.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSQ is cheaper with a 0.95% expense ratio, compared with 0.99% for YQQQ.
YQQQ has the higher dividend yield at 31.75%, compared with 5.24% for PSQ.
PSQ is categorized as Inverse Equities, while YQQQ is Derivative Income. They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.95% for PSQ and 0.99% for YQQQ.
YQQQ currently has the higher Sharpe Ratio (-1.14 vs -1.65), 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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