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 2.84%/yr vs -32.86%/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 5.91% return, which is significantly higher than ERY's -42.26% return. Over the past 10 years, PST has outperformed ERY with an annualized return of 2.84%, while ERY has yielded a comparatively lower -32.86% 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%
ERY
- 1D
- -0.79%
- 1M
- 0.01%
- 6M
- -35.73%
- YTD
- -42.26%
- 1Y
- -45.09%
- 3Y*
- -25.54%
- 5Y*
- -39.55%
- 10Y*
- -32.86%
PST vs. ERY - 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% |
ERY Direxion Daily Energy Bear 2X Shares | -42.26% | -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 -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
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 19, 2008 | -0.30 |
The correlation between PST and ERY shifts across timeframes, from -0.30 (all time) to -0.14 (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.
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 | ERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.39 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.82 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | -0.80 | +1.22 |
| Martin ratioReturn relative to average drawdown | 0.76 | -1.35 | +2.11 |
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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 | -6.90% | -56.88% | +49.98% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -65.95% | +49.76% |
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 | -63.67% | -99.99% | +36.32% |
Average DrawdownAverage peak-to-trough decline | -61.49% | -96.92% | +35.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 33.37% | -29.50% |
Volatility
PST vs. ERY - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 2.81%, while Direxion Daily Energy Bear 2X Shares (ERY) has a volatility of 14.33%. 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 | 2.81% | 14.33% | -11.52% |
Volatility (6M)Calculated over the trailing 6-month period | 7.18% | 33.11% | -25.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.44% | 41.94% | -32.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 51.70% | -36.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 70.41% | -57.13% |
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 2.83%, less than ERY's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.20% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
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 ERY have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (14.33%) compared to PST (2.81%). In terms of maximum drawdown, PST dropped -79.25% vs ERY's -99.99%.
On 10-year performance, PST leads with 2.84% vs -32.86% for ERY. On fees, PST is cheaper at 0.95% per year. 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 -32.86%. 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 3.20%, compared with 2.83% 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 (0.31 vs -1.08), 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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