PST vs. SQQQ
PST (ProShares UltraShort 7-10 Year Treasury) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, PST returned 2.73%/yr vs -56.24%/yr for SQQQ. At a correlation of -0.18, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
PST vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, PST achieves a 4.69% return, which is significantly higher than SQQQ's -40.31% return. Over the past 10 years, PST has outperformed SQQQ with an annualized return of 2.73%, while SQQQ has yielded a comparatively lower -56.24% annualized return.
PST
- 1D
- -0.27%
- 1M
- -0.60%
- YTD
- 4.69%
- 6M
- 5.06%
- 1Y
- 3.06%
- 3Y*
- 5.23%
- 5Y*
- 9.44%
- 10Y*
- 2.73%
SQQQ
- 1D
- 9.83%
- 1M
- -2.27%
- YTD
- -40.31%
- 6M
- -37.80%
- 1Y
- -61.11%
- 3Y*
- -53.86%
- 5Y*
- -46.89%
- 10Y*
- -56.24%
PST vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 4.69% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
SQQQ ProShares UltraPro Short QQQ | -40.31% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between PST and SQQQ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.18 |
The correlation between PST and SQQQ shifts across timeframes, from -0.18 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PST vs. SQQQ — Risk / Return Rank
PST
SQQQ
PST vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.78 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | -0.96 | +1.41 |
| Martin ratioReturn relative to average drawdown | 0.80 | -1.81 | +2.61 |
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Drawdowns
PST vs. SQQQ - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for PST and SQQQ.
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Drawdown Indicators
| PST | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -100.00% | +20.75% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -63.52% | +56.62% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -92.51% | +76.32% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -97.27% | +81.08% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -99.98% | +63.91% |
Current DrawdownCurrent decline from peak | -64.08% | -100.00% | +35.92% |
Average DrawdownAverage peak-to-trough decline | -61.48% | -92.73% | +31.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.83% | 36.37% | -32.54% |
Volatility
PST vs. SQQQ - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 2.73%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 26.69% | -23.96% |
Volatility (6M)Calculated over the trailing 6-month period | 7.03% | 43.33% | -36.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.49% | 53.65% | -44.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 67.53% | -51.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.30% | 66.47% | -53.17% |
PST vs. SQQQ - Expense Ratio Comparison
Both PST and SQQQ have an expense ratio of 0.95%.
Dividends
PST vs. SQQQ - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.08%, less than SQQQ's 11.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 11.44% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
PST and SQQQ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.69%) compared to PST (2.73%). In terms of maximum drawdown, PST dropped -79.25% vs SQQQ's -100.00%.
On 10-year performance, PST leads with 2.73% vs -56.24% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, PST has been the lower-risk option at 2.73%. 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 2.73% return vs -56.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 11.44%, compared with 3.08% for PST.
PST is categorized as Inverse Bonds, while SQQQ is Leveraged Equities. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while SQQQ tracks NASDAQ-100 Index (-300%).
PST currently has the higher Sharpe Ratio (0.32 vs -1.14), 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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