PST vs. BGRN
PST (ProShares UltraShort 7-10 Year Treasury) and BGRN (iShares USD Green Bond ETF) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while BGRN is a Global Bonds fund tracking the Bloomberg MSCI USD Green Bond Select Index. Both are passively managed. Over the past 5 years, PST returned 9.21%/yr vs 0.54%/yr for BGRN. At a correlation of -0.82, they often move in opposite directions. PST charges 0.95%/yr vs 0.20%/yr for BGRN.
Performance
PST vs. BGRN - Performance Comparison
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Returns By Period
In the year-to-date period, PST achieves a 4.57% return, which is significantly higher than BGRN's 0.43% return.
PST
- 1D
- 0.51%
- 1M
- 0.80%
- YTD
- 4.57%
- 6M
- 6.73%
- 1Y
- 1.08%
- 3Y*
- 5.59%
- 5Y*
- 9.21%
- 10Y*
- 2.47%
BGRN
- 1D
- -0.20%
- 1M
- 0.31%
- YTD
- 0.43%
- 6M
- 0.49%
- 1Y
- 5.19%
- 3Y*
- 4.75%
- 5Y*
- 0.54%
- 10Y*
- —
PST vs. BGRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 4.57% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | -5.78% |
BGRN iShares USD Green Bond ETF | 0.43% | 7.27% | 2.77% | 6.50% | -13.06% | -2.80% | 6.86% | 9.70% | 1.14% |
Correlation
The correlation between PST and BGRN is -0.91, 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 | -0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.88 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2018 | -0.82 |
The correlation between PST and BGRN has been stable across timeframes, ranging from -0.91 to -0.82 - a consistent structural relationship.
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Return for Risk
PST vs. BGRN — Risk / Return Rank
PST
BGRN
PST vs. BGRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and iShares USD Green Bond ETF (BGRN). 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.
| PST | BGRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.46 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.32 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 2.34 | -2.19 |
| Martin ratioReturn relative to average drawdown | 0.26 | 7.85 | -7.59 |
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
| PST | BGRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | 1.76 | -1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.10 | +0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | 0.45 | -0.83 |
Drawdowns
PST vs. BGRN - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, which is greater than BGRN's maximum drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for PST and BGRN.
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Drawdown Indicators
| PST | BGRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -19.16% | -60.09% |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | -2.23% | -5.02% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -4.55% | -11.64% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -18.73% | +2.54% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | — | — |
Current DrawdownCurrent decline from peak | -64.13% | -0.83% | -63.30% |
Average DrawdownAverage peak-to-trough decline | -61.48% | -5.79% | -55.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 0.66% | +3.50% |
Volatility
PST vs. BGRN - Volatility Comparison
ProShares UltraShort 7-10 Year Treasury (PST) has a higher volatility of 3.19% compared to iShares USD Green Bond ETF (BGRN) at 1.06%. This indicates that PST's price experiences larger fluctuations and is considered to be riskier than BGRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | BGRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 1.06% | +2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 6.75% | 2.24% | +4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.62% | 2.97% | +6.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 5.46% | +10.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 5.00% | +8.32% |
PST vs. BGRN - Expense Ratio Comparison
PST has a 0.95% expense ratio, which is higher than BGRN's 0.20% expense ratio.
Dividends
PST vs. BGRN - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.08%, less than BGRN's 4.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BGRN iShares USD Green Bond ETF | 4.29% | 4.21% | 4.07% | 3.52% | 2.66% | 0.78% | 1.82% | 3.66% | 0.21% |
PST ProShares UltraShort 7-10 Year Treasury | 3.08% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
Frequently Asked Questions
PST and BGRN have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PST has higher volatility (3.19%) compared to BGRN (1.06%). In terms of maximum drawdown, PST dropped -79.25% vs BGRN's -19.16%.
On 5-year performance, PST leads with 9.21% vs 0.54% for BGRN. On fees, BGRN is cheaper at 0.20% per year. On volatility, BGRN has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PST has performed better with a 9.21% return vs 0.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BGRN is cheaper with a 0.20% expense ratio, compared with 0.95% for PST.
BGRN has the higher dividend yield at 4.29%, compared with 3.08% for PST.
PST is categorized as Inverse Bonds, while BGRN is Global Bonds. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while BGRN tracks Bloomberg MSCI USD Green Bond Select Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for PST and 0.20% for BGRN.
BGRN currently has the higher Sharpe Ratio (1.76 vs 0.11), 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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