PST vs. SQQQ

Last updated Jun 4, 2026

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 2.47%/yr vs -56.01%/yr for SQQQ. At a correlation of -0.19, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

PST vs. SQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, PST achieves a 4.57% return, which is significantly higher than SQQQ's -45.27% return. Over the past 10 years, PST has outperformed SQQQ with an annualized return of 2.47%, while SQQQ has yielded a comparatively lower -56.01% 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%

SQQQ

• 1D: 0.76%
• 1M: -26.37%
• YTD: -45.27%
• 6M: -42.79%
• 1Y: -65.16%
• 3Y*: -56.19%
• 5Y*: -49.17%
• 10Y*: -56.01%

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

PST vs. SQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PST ProShares UltraShort 7-10 Year Treasury	4.57%	-4.42%	12.27%	3.17%	38.55%	4.01%	-18.67%	-11.03%	1.72%	-4.52%
SQQQ ProShares UltraPro Short QQQ	-45.27%	-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 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
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 12, 2010	-0.19

The correlation between PST and SQQQ shifts across timeframes, from -0.19 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

PST vs. SQQQ - Sectors Allocation Comparison

Sectors	PST	SQQQ
Financial Services	69.6%	97.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PST vs. SQQQ — Risk / Return Rank

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

PST

PST Risk / Return Rank: 10
PST Sharpe Ratio Rank: 10
PST Sortino Ratio Rank: 9
PST Omega Ratio Rank: 9
PST Calmar Ratio Rank: 10
PST Martin Ratio Rank: 10

SQQQ

SQQQ Risk / Return Rank: 0
SQQQ Sharpe Ratio Rank: 0
SQQQ Sortino Ratio Rank: 0
SQQQ Omega Ratio Rank: 0
SQQQ Calmar Ratio Rank: 0
SQQQ Martin Ratio Rank: 0

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. 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.

	PST	SQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.11	-1.37	+1.48
Sortino ratio: Return per unit of downside risk	0.23	-2.63	+2.86
Omega ratio: Gain probability vs. loss probability	1.03	0.72	+0.30
Calmar ratio: Return relative to maximum drawdown	0.15	-0.99	+1.14
Martin ratio: Return relative to average drawdown	0.26	-1.82	+2.08
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. SQQQ - Sharpe Ratio Comparison

The current PST Sharpe Ratio is 0.11, which is higher than the SQQQ Sharpe Ratio of -1.37. The chart below compares the historical Sharpe Ratios of PST and SQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PST	SQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.11	-1.37	+1.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	-0.74	+1.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	-0.85	+1.04
Sharpe Ratio (All Time) Calculated using the full available price history	-0.37	-0.88	+0.50

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.

Drawdown Indicators

	PST	SQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-79.25%	-100.00%	+20.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.25%	-65.95%	+58.70%
Max Drawdown (3Y) Largest decline over 3 years	-16.19%	-92.38%	+76.19%
Max Drawdown (5Y) Largest decline over 5 years	-16.19%	-97.23%	+81.04%
Max Drawdown (10Y) Largest decline over 10 years	-36.07%	-99.98%	+63.91%
Current Drawdown Current decline from peak	-64.13%	-100.00%	+35.87%
Average Drawdown Average peak-to-trough decline	-61.48%	-92.40%	+30.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	35.73%	-31.57%

Volatility

PST vs. SQQQ - Volatility Comparison

The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 3.19%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 13.75%. 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.

Volatility by Period

	PST	SQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	13.75%	-10.56%
Volatility (6M) Calculated over the trailing 6-month period	6.75%	36.45%	-29.70%
Volatility (1Y) Calculated over the trailing 1-year period	9.62%	47.79%	-38.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	66.64%	-51.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.32%	66.11%	-52.79%

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 12.48% 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	12.48%	9.36%	10.23%	8.01%	0.28%	0.00%	2.15%	2.92%	1.47%	0.14%

Frequently Asked Questions

Can I hold both PST and SQQQ in my portfolio?

PST and SQQQ 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 SQQQ?

SQQQ has higher volatility (13.75%) compared to PST (3.19%). In terms of maximum drawdown, PST dropped -79.25% vs SQQQ's -100.00%.

Which ETF is better, PST or SQQQ?

On 10-year performance, PST leads with 2.47% vs -56.01% for SQQQ. Both ETFs have the same 0.95% expense ratio. 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.

Which ETF has performed better, PST or SQQQ?

Over the 10-year period, PST has performed better with a 2.47% return vs -56.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PST or SQQQ?

PST and SQQQ have the same expense ratio: 0.95% per year.

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

SQQQ has the higher dividend yield at 12.48%, compared with 3.08% for PST.

What is the main difference between PST and SQQQ?

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%).

Which has better risk-adjusted returns?

PST currently has the higher Sharpe Ratio (0.11 vs -1.37), 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.