PST vs. SJB
PST (ProShares UltraShort 7-10 Year Treasury) and SJB (ProShares Short High Yield) are both Inverse Bonds funds from ProShares - PST tracks the ICE U.S. Treasury 7-10 Year Bond Index while SJB tracks the iBoxx $ Liquid High Yield Index (-100%). Both are passively managed. Over the past 10 years, PST returned 2.84%/yr vs -3.55%/yr for SJB. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
PST vs. SJB - 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 SJB's 0.64% return. Over the past 10 years, PST has outperformed SJB with an annualized return of 2.84%, while SJB has yielded a comparatively lower -3.55% 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%
SJB
- 1D
- -0.25%
- 1M
- 0.13%
- 6M
- 0.91%
- YTD
- 0.64%
- 1Y
- 0.15%
- 3Y*
- -1.70%
- 5Y*
- -0.31%
- 10Y*
- -3.55%
PST vs. SJB - 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% |
SJB ProShares Short High Yield | 0.64% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -9.23% | -11.42% | 2.47% | -6.17% |
Correlation
The correlation between PST and SJB is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2011 | 0.01 |
Over the past year, PST and SJB have become more correlated (0.52) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
PST vs. SJB — Risk / Return Rank
PST
SJB
PST vs. SJB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and ProShares Short High Yield (SJB). 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 | SJB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.01 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 0.06 | +0.37 |
| Martin ratioReturn relative to average drawdown | 0.76 | 0.11 | +0.65 |
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Drawdowns
PST vs. SJB - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, which is greater than SJB's maximum drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for PST and SJB.
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Drawdown Indicators
| PST | SJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -58.06% | -21.19% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -2.74% | -4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -10.54% | -5.65% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -13.30% | -2.89% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -32.86% | -3.21% |
Current DrawdownCurrent decline from peak | -63.67% | -57.44% | -6.23% |
Average DrawdownAverage peak-to-trough decline | -61.49% | -42.57% | -18.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 1.40% | +2.47% |
Volatility
PST vs. SJB - Volatility Comparison
ProShares UltraShort 7-10 Year Treasury (PST) has a higher volatility of 2.81% compared to ProShares Short High Yield (SJB) at 0.83%. This indicates that PST's price experiences larger fluctuations and is considered to be riskier than SJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | SJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.81% | 0.83% | +1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 7.18% | 3.08% | +4.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.44% | 3.85% | +5.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 7.52% | +8.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.28% | 8.45% | +4.83% |
PST vs. SJB - Expense Ratio Comparison
Both PST and SJB have an expense ratio of 0.95%.
Dividends
PST vs. SJB - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 2.83%, less than SJB's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SJB ProShares Short High Yield | 3.61% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% |
Frequently Asked Questions
PST and SJB have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PST has higher volatility (2.81%) compared to SJB (0.83%). In terms of maximum drawdown, PST dropped -79.25% vs SJB's -58.06%.
On 10-year performance, PST leads with 2.84% vs -3.55% for SJB. Both ETFs have the same 0.95% expense ratio. On volatility, SJB has been the lower-risk option at 0.83%. 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 -3.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST and SJB have the same expense ratio: 0.95% per year.
SJB has the higher dividend yield at 3.61%, compared with 2.83% for PST.
PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while SJB tracks iBoxx $ Liquid High Yield Index (-100%).
PST currently has the higher Sharpe Ratio (0.31 vs 0.04), 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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