PST vs. BZQ
PST (ProShares UltraShort 7-10 Year Treasury) and BZQ (ProShares UltraShort MSCI Brazil Capped) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while BZQ is a Leveraged Equities fund tracking the MSCI Brazil 25-50 (-200%). Both are passively managed. Over the past 10 years, PST returned 2.84%/yr vs -35.04%/yr for BZQ. At a correlation of -0.12, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
PST vs. BZQ - Performance Comparison
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Returns By Period
In the year-to-date period, PST achieves a 5.91% return, which is significantly higher than BZQ's -29.72% return. Over the past 10 years, PST has outperformed BZQ with an annualized return of 2.84%, while BZQ has yielded a comparatively lower -35.04% annualized return.
PST
- 1D
- -0.64%
- 1M
- 1.21%
- 6M
- 6.18%
- YTD
- 5.91%
- 1Y
- 2.93%
- 3Y*
- 5.16%
- 5Y*
- 10.42%
- 10Y*
- 2.84%
BZQ
- 1D
- -3.85%
- 1M
- -7.65%
- 6M
- -26.04%
- YTD
- -29.72%
- 1Y
- -52.65%
- 3Y*
- -23.17%
- 5Y*
- -24.17%
- 10Y*
- -35.04%
PST vs. BZQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 5.91% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
BZQ ProShares UltraShort MSCI Brazil Capped | -29.72% | -57.90% | 98.84% | -49.11% | -44.20% | 6.45% | -52.88% | -48.20% | -21.52% | -49.73% |
Correlation
The correlation between PST and BZQ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2009 | -0.12 |
The correlation between PST and BZQ shifts across timeframes, from -0.12 (all time) to 0.19 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PST vs. BZQ — Risk / Return Rank
PST
BZQ
PST vs. BZQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and ProShares UltraShort MSCI Brazil Capped (BZQ). 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.
| PST | BZQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.81 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | -0.81 | +1.24 |
| Martin ratioReturn relative to average drawdown | 0.76 | -1.22 | +1.98 |
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Drawdowns
PST vs. BZQ - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, smaller than the maximum BZQ drawdown of -99.82%. Use the drawdown chart below to compare losses from any high point for PST and BZQ.
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Drawdown Indicators
| PST | BZQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -99.82% | +20.57% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -65.20% | +58.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -77.31% | +61.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -88.65% | +72.46% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -98.96% | +62.89% |
Current DrawdownCurrent decline from peak | -63.67% | -99.77% | +36.10% |
Average DrawdownAverage peak-to-trough decline | -61.49% | -84.61% | +23.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 43.21% | -39.34% |
Volatility
PST vs. BZQ - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 2.81%, while ProShares UltraShort MSCI Brazil Capped (BZQ) has a volatility of 11.39%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than BZQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | BZQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.81% | 11.39% | -8.58% |
Volatility (6M)Calculated over the trailing 6-month period | 7.18% | 39.84% | -32.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.44% | 49.87% | -40.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 55.14% | -39.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 66.58% | -53.30% |
PST vs. BZQ - Expense Ratio Comparison
Both PST and BZQ have an expense ratio of 0.95%.
Dividends
PST vs. BZQ - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 2.83%, less than BZQ's 7.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | 7.85% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% |
PST ProShares UltraShort 7-10 Year Treasury | 2.83% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
Frequently Asked Questions
PST and BZQ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BZQ has higher volatility (11.39%) compared to PST (2.81%). In terms of maximum drawdown, PST dropped -79.25% vs BZQ's -99.82%.
On 10-year performance, PST leads with 2.84% vs -35.04% for BZQ. Both ETFs have the same 0.95% expense ratio. On volatility, PST has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PST has performed better with a 2.84% return vs -35.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST and BZQ have the same expense ratio: 0.95% per year.
BZQ has the higher dividend yield at 7.85%, compared with 2.83% for PST.
PST is categorized as Inverse Bonds, while BZQ is Leveraged Equities. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while BZQ tracks MSCI Brazil 25-50 (-200%).
PST currently has the higher Sharpe Ratio (0.31 vs -1.06), 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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