PST vs. METD
PST (ProShares UltraShort 7-10 Year Treasury) and METD (Direxion Daily META Bear 1X ETF) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while METD is a Inverse Equities fund actively managed by Direxion. PST is passively managed, while METD is actively managed. Over the past year, PST returned 1.08% vs 1.14% for METD. At a correlation of -0.04, they often move in opposite directions. PST charges 0.95%/yr vs 1.00%/yr for METD.
Performance
PST vs. METD - 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 METD's 1.66% 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%
METD
- 1D
- -4.20%
- 1M
- -2.14%
- YTD
- 1.66%
- 6M
- -1.28%
- 1Y
- 1.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PST vs. METD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 4.57% | -4.42% | 4.46% |
METD Direxion Daily META Bear 1X ETF | 1.66% | -17.33% | -15.84% |
Correlation
The correlation between PST and METD is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2024 | -0.04 |
The correlation between PST and METD shifts across timeframes, from -0.04 (all time) to 0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PST vs. METD — Risk / Return Rank
PST
METD
PST vs. METD - 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 META Bear 1X ETF (METD). 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 | METD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.04 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 0.05 | +0.10 |
| Martin ratioReturn relative to average drawdown | 0.26 | 0.11 | +0.15 |
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 | METD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | 0.03 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | — | — |
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 | -0.44 | +0.07 |
Drawdowns
PST vs. METD - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, which is greater than METD's maximum drawdown of -46.03%. Use the drawdown chart below to compare losses from any high point for PST and METD.
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Drawdown Indicators
| PST | METD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -46.03% | -33.22% |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | -24.38% | +17.13% |
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 DrawdownCurrent decline from peak | -64.13% | -34.66% | -29.47% |
Average DrawdownAverage peak-to-trough decline | -61.48% | -28.61% | -32.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 11.35% | -7.19% |
Volatility
PST vs. METD - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 3.19%, while Direxion Daily META Bear 1X ETF (METD) has a volatility of 8.85%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than METD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | METD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 8.85% | -5.66% |
Volatility (6M)Calculated over the trailing 6-month period | 6.75% | 27.02% | -20.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.62% | 35.57% | -25.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 36.41% | -20.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 36.41% | -23.09% |
PST vs. METD - Expense Ratio Comparison
PST has a 0.95% expense ratio, which is lower than METD's 1.00% expense ratio.
Dividends
PST vs. METD - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.08%, more than METD's 2.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
METD Direxion Daily META Bear 1X ETF | 2.69% | 3.35% | 2.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 METD have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
METD has higher volatility (8.85%) compared to PST (3.19%). In terms of maximum drawdown, PST dropped -79.25% vs METD's -46.03%.
On 1-year performance, METD leads with 1.14% vs 1.08% for PST. 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 1-year period, METD has performed better with a 1.14% return vs 1.08%. 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 1.00% for METD.
PST has the higher dividend yield at 3.08%, compared with 2.69% for METD.
PST is categorized as Inverse Bonds, while METD is Inverse Equities. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for PST and 1.00% for METD.
PST currently has the higher Sharpe Ratio (0.11 vs 0.03), 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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