PST vs. UVXY
PST (ProShares UltraShort 7-10 Year Treasury) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, PST returned 2.47%/yr vs -72.67%/yr for UVXY. At a correlation of -0.21, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
PST vs. UVXY - 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 UVXY's -19.06% return. Over the past 10 years, PST has outperformed UVXY with an annualized return of 2.47%, while UVXY has yielded a comparatively lower -72.67% 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%
UVXY
- 1D
- -0.24%
- 1M
- -22.10%
- YTD
- -19.06%
- 6M
- -37.37%
- 1Y
- -72.91%
- 3Y*
- -64.55%
- 5Y*
- -67.90%
- 10Y*
- -72.67%
PST vs. UVXY - 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% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -19.06% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between PST and UVXY is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2011 | -0.21 |
The correlation between PST and UVXY shifts across timeframes, from -0.21 (all time) to 0.06 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PST vs. UVXY — Risk / Return Rank
PST
UVXY
PST vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.82 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | -0.97 | +1.12 |
| Martin ratioReturn relative to average drawdown | 0.26 | -1.31 | +1.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PST | UVXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | -0.87 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | -0.66 | +1.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | -0.64 | +0.83 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | -0.68 | +0.30 |
Drawdowns
PST vs. UVXY - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for PST and UVXY.
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Drawdown Indicators
| PST | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -100.00% | +20.75% |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | -75.22% | +67.97% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -95.45% | +79.26% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -99.68% | +83.49% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -100.00% | +63.93% |
Current DrawdownCurrent decline from peak | -64.13% | -100.00% | +35.87% |
Average DrawdownAverage peak-to-trough decline | -61.48% | -98.55% | +37.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 55.63% | -51.47% |
Volatility
PST vs. UVXY - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 3.19%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 11.77% | -8.58% |
Volatility (6M)Calculated over the trailing 6-month period | 6.75% | 62.64% | -55.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.62% | 84.42% | -74.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 103.85% | -88.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 113.82% | -100.50% |
PST vs. UVXY - Expense Ratio Comparison
Both PST and UVXY have an expense ratio of 0.95%.
Dividends
PST vs. UVXY - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.08%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PST and UVXY have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (11.77%) compared to PST (3.19%). In terms of maximum drawdown, PST dropped -79.25% vs UVXY's -100.00%.
On 10-year performance, PST leads with 2.47% vs -72.67% for UVXY. 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.
Over the 10-year period, PST has performed better with a 2.47% return vs -72.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PST and UVXY have the same expense ratio: 0.95% per year.
PST has the higher dividend yield at 3.08%, compared with 0.00% for UVXY.
PST is categorized as Inverse Bonds, while UVXY is Volatility. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
PST currently has the higher Sharpe Ratio (0.11 vs -0.87), 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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