PST vs. ERY
PST (ProShares UltraShort 7-10 Year Treasury) and ERY (Direxion Daily Energy Bear 2X Shares) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%). Both are passively managed. Over the past 10 years, PST returned 2.47%/yr vs -34.29%/yr for ERY. At a correlation of -0.30, they often move in opposite directions. PST charges 0.95%/yr vs 1.07%/yr for ERY.
Performance
PST vs. ERY - 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 ERY's -44.49% return. Over the past 10 years, PST has outperformed ERY with an annualized return of 2.47%, while ERY has yielded a comparatively lower -34.29% annualized 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%
ERY
- 1D
- -2.75%
- 1M
- 1.29%
- YTD
- -44.49%
- 6M
- -42.45%
- 1Y
- -53.20%
- 3Y*
- -27.86%
- 5Y*
- -38.03%
- 10Y*
- -34.29%
PST vs. ERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 4.57% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
ERY Direxion Daily Energy Bear 2X Shares | -44.49% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
Correlation
The correlation between PST and ERY is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2008 | -0.30 |
The correlation between PST and ERY shifts across timeframes, from -0.30 (all time) to -0.11 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PST vs. ERY — Risk / Return Rank
PST
ERY
PST vs. ERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and Direxion Daily Energy Bear 2X Shares (ERY). 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 | ERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.77 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | -0.89 | +1.04 |
| Martin ratioReturn relative to average drawdown | 0.26 | -1.60 | +1.86 |
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 | ERY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | -1.31 | +1.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | -0.74 | +1.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | -0.49 | +0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | -0.55 | +0.17 |
Drawdowns
PST vs. ERY - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, smaller than the maximum ERY drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for PST and ERY.
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Drawdown Indicators
| PST | ERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -99.99% | +20.74% |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | -59.79% | +52.54% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -67.94% | +51.75% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -94.04% | +77.85% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -99.66% | +63.59% |
Current DrawdownCurrent decline from peak | -64.13% | -99.99% | +35.86% |
Average DrawdownAverage peak-to-trough decline | -61.48% | -96.92% | +35.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 33.29% | -29.13% |
Volatility
PST vs. ERY - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 3.19%, while Direxion Daily Energy Bear 2X Shares (ERY) has a volatility of 16.11%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than ERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | ERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 16.11% | -12.92% |
Volatility (6M)Calculated over the trailing 6-month period | 6.75% | 32.78% | -26.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.62% | 40.86% | -31.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 51.89% | -36.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 70.64% | -57.32% |
PST vs. ERY - Expense Ratio Comparison
PST has a 0.95% expense ratio, which is lower than ERY's 1.07% expense ratio.
Dividends
PST vs. ERY - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.08%, less than ERY's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.75% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
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 ERY have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (16.11%) compared to PST (3.19%). In terms of maximum drawdown, PST dropped -79.25% vs ERY's -99.99%.
On 10-year performance, PST leads with 2.47% vs -34.29% for ERY. On fees, PST is cheaper at 0.95% per year. On volatility, PST has been the lower-risk option at 3.19%. 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 2.47% return vs -34.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST is cheaper with a 0.95% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.75%, compared with 3.08% for PST.
PST is categorized as Inverse Bonds, while ERY is Leveraged Equities. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while ERY tracks Energy Select Sector Index (-300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for PST and 1.07% for ERY.
PST currently has the higher Sharpe Ratio (0.11 vs -1.31), 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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