PST vs. IQQQ

Last updated Jul 15, 2026

PST (ProShares UltraShort 7-10 Year Treasury) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, PST returned 2.93% vs 26.85% for IQQQ. At a correlation of -0.05, they often move in opposite directions. PST charges 0.95%/yr vs 0.55%/yr for IQQQ.

Performance

PST vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort 7-10 Year Treasury (PST) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PST achieves a 5.91% return, which is significantly lower than IQQQ's 14.90% 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%

IQQQ

• 1D: 1.08%
• 1M: -0.58%
• 6M: 12.88%
• YTD: 14.90%
• 1Y: 26.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PST vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PST ProShares UltraShort 7-10 Year Treasury	5.91%	-4.42%	4.80%
IQQQ ProShares Nasdaq-100 High Income ETF	14.90%	17.11%	14.82%

Correlation

The correlation between PST and IQQQ is -0.15, 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	-0.15
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	-0.05

The correlation between PST and IQQQ shifts across timeframes, from -0.15 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PST vs. IQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PST

PST Risk / Return Rank: 14
PST Sharpe Ratio Rank: 15
PST Sortino Ratio Rank: 13
PST Omega Ratio Rank: 13
PST Calmar Ratio Rank: 15
PST Martin Ratio Rank: 14

IQQQ

IQQQ Risk / Return Rank: 56
IQQQ Sharpe Ratio Rank: 56
IQQQ Sortino Ratio Rank: 52
IQQQ Omega Ratio Rank: 52
IQQQ Calmar Ratio Rank: 61
IQQQ Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PST vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.31	1.53	-1.22
Sortino ratio: Return per unit of downside risk	0.51	2.04	-1.54
Omega ratio: Gain probability vs. loss probability	1.06	1.26	-0.21
Calmar ratio: Return relative to maximum drawdown	0.43	2.42	-2.00
Martin ratio: Return relative to average drawdown	0.76	7.99	-7.23

PST vs. IQQQ - Sharpe Ratio Comparison

The current PST Sharpe Ratio is 0.31, which is lower than the IQQQ Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of PST and IQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PST vs. IQQQ - Drawdown Comparison

The maximum PST drawdown since its inception was -79.25%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for PST and IQQQ.

Drawdown Indicators

	PST	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-79.25%	-20.41%	-58.84%
Max Drawdown (1Y) Largest decline over 1 year	-6.90%	-11.13%	+4.23%
Max Drawdown (3Y) Largest decline over 3 years	-16.19%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.07%	—	—
Current Drawdown Current decline from peak	-63.67%	-3.51%	-60.16%
Average Drawdown Average peak-to-trough decline	-61.49%	-3.63%	-57.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.87%	3.37%	+0.50%

Volatility

PST vs. IQQQ - Volatility Comparison

The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 2.81%, while ProShares Nasdaq-100 High Income ETF (IQQQ) has a volatility of 7.33%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PST	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	7.33%	-4.52%
Volatility (6M) Calculated over the trailing 6-month period	7.18%	14.35%	-7.17%
Volatility (1Y) Calculated over the trailing 1-year period	9.44%	17.61%	-8.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.59%	19.15%	-3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.28%	19.15%	-5.87%

PST vs. IQQQ - Expense Ratio Comparison

PST has a 0.95% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

PST vs. IQQQ - Dividend Comparison

PST's dividend yield for the trailing twelve months is around 2.83%, less than IQQQ's 5.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IQQQ ProShares Nasdaq-100 High Income ETF	5.20%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both PST and IQQQ in my portfolio?

PST and IQQQ have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PST or IQQQ?

IQQQ has higher volatility (7.33%) compared to PST (2.81%). In terms of maximum drawdown, PST dropped -79.25% vs IQQQ's -20.41%.

Which ETF is better, PST or IQQQ?

On 1-year performance, IQQQ leads with 26.85% vs 2.93% for PST. On fees, IQQQ is cheaper at 0.55% 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.

Which ETF has performed better, PST or IQQQ?

Over the 1-year period, IQQQ has performed better with a 26.85% return vs 2.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PST or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.95% for PST.

Which ETF pays a higher dividend yield, PST or IQQQ?

IQQQ has the higher dividend yield at 5.20%, compared with 2.83% for PST.

What is the main difference between PST and IQQQ?

PST is categorized as Inverse Bonds, while IQQQ is Nasdaq-100. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.95% for PST and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.53 vs 0.31), 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.