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PST vs. SJB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PST vs. SJB

Last updated Jun 4, 2026

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 2.47%/yr vs -3.85%/yr for SJB. At a 0.00 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

PST vs. SJB - Performance Comparison

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

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Returns By Period

In the year-to-date period, PST achieves a 4.57% return, which is significantly higher than SJB's 0.67% return. Over the past 10 years, PST has outperformed SJB with an annualized return of 2.47%, while SJB has yielded a comparatively lower -3.85% 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%

SJB

1D
0.20%
1M
-0.20%
YTD
0.67%
6M
0.75%
1Y
-0.44%
3Y*
-1.91%
5Y*
-0.54%
10Y*
-3.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PST vs. SJB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
SJB
ProShares Short High Yield		0.67%-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 0.51, 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

0.51

Correlation (3Y)
Calculated over the trailing 3-year period

0.51

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (10Y)
Calculated over the trailing 10-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2011

0.00

Over the past year, PST and SJB have become more correlated (0.51) than their long-term average of 0.00, meaning their price movements have been converging.

PST vs. SJB - Sectors Allocation Comparison

Sectors
PST
SJB

Financial Services

69.6%
97.9%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

PST
69.6%
SJB
97.9%

Basic Materials

PST

-

SJB

-

Communication Services

PST

-

SJB

-

Consumer Cyclical

PST

-

SJB

-

Consumer Defensive

PST

-

SJB

-

Energy

PST

-

SJB

-

Healthcare

PST

-

SJB

-

Industrials

PST

-

SJB

-

Real Estate

PST

-

SJB

-

Technology

PST

-

SJB

-

Utilities

PST

-

SJB

-

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ProShares UltraShort 7-10 Year Treasury

ProShares Short High Yield

Often compared with PST:
PST vs. ^TYXPST vs. TYOPST vs. TBIIXPST vs. SGOVPST vs. UBTPST vs. FXAIXPST vs. TMV
Often compared with SJB:
SJB vs. TAILSJB vs. SJNKSJB vs. CAOSSJB vs. SPYSJB vs. CLIPSJB vs. SIXHSJB vs. EEM

Return for Risk

PST vs. SJB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PST
PST Risk / Return Rank: 1010
Overall Rank
PST Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
PST Sortino Ratio Rank: 99
Sortino Ratio Rank
PST Omega Ratio Rank: 99
Omega Ratio Rank
PST Calmar Ratio Rank: 1010
Calmar Ratio Rank
PST Martin Ratio Rank: 1010
Martin Ratio Rank
SJB
SJB Risk / Return Rank: 77
Overall Rank
SJB Sharpe Ratio Rank: 77
Sharpe Ratio Rank
SJB Sortino Ratio Rank: 77
Sortino Ratio Rank
SJB Omega Ratio Rank: 66
Omega Ratio Rank
SJB Calmar Ratio Rank: 77
Calmar Ratio Rank
SJB Martin Ratio Rank: 77
Martin Ratio Rank
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. 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.

PSTSJBDifference
Sharpe ratioReturn per unit of total volatility
0.11
-0.12

+0.23

Sortino ratioReturn per unit of downside risk
0.23
-0.14

+0.36

Omega ratioGain probability vs. loss probability

1.03

0.98

+0.04

Calmar ratioReturn relative to maximum drawdown

0.15

-0.16

+0.31

Martin ratioReturn relative to average drawdown

0.26

-0.31

+0.57

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PST vs. SJB - Sharpe Ratio Comparison

The current PST Sharpe Ratio is 0.11, which is higher than the SJB Sharpe Ratio of -0.12. The chart below compares the historical Sharpe Ratios of PST and SJB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PSTSJBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.11

-0.12

+0.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

-0.07

+0.67

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.19

-0.45

+0.64

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.37

-0.60

+0.23

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

PSTSJBDifference

Max Drawdown

Largest peak-to-trough decline

-79.25%

-58.06%

-21.19%

Max Drawdown (1Y)

Largest decline over 1 year

-7.25%

-2.74%

-4.51%

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%

-34.57%

-1.50%

Current Drawdown

Current decline from peak

-64.13%

-57.42%

-6.71%

Average Drawdown

Average peak-to-trough decline

-61.48%

-42.47%

-19.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.16%

1.44%

+2.72%

Volatility

PST vs. SJB - Volatility Comparison

ProShares UltraShort 7-10 Year Treasury (PST) has a higher volatility of 3.19% compared to ProShares Short High Yield (SJB) at 1.23%. 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

PSTSJBDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.19%

1.23%

+1.96%

Volatility (6M)

Calculated over the trailing 6-month period

6.75%

2.95%

+3.80%

Volatility (1Y)

Calculated over the trailing 1-year period

9.62%

3.83%

+5.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.60%

7.51%

+8.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.32%

8.52%

+4.80%

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 3.08%, less than SJB's 3.44% yield.

PositionTTM20252024202320222021202020192018
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%
SJB
ProShares Short High Yield		3.44%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 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PST has higher volatility (3.19%) compared to SJB (1.23%). In terms of maximum drawdown, PST dropped -79.25% vs SJB's -58.06%.

On 10-year performance, PST leads with 2.47% vs -3.85% for SJB. Both ETFs have the same 0.95% expense ratio. On volatility, SJB has been the lower-risk option at 1.23%. 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 -3.85%. 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 3.44%, compared with 3.08% 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 (0.11 vs -0.12), 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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