PST vs. VCSH
PST (ProShares UltraShort 7-10 Year Treasury) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index. Both are passively managed. Over the past 10 years, PST returned 2.95%/yr vs 2.67%/yr for VCSH. Their -0.67 correlation means they have often moved in opposite directions in the past. PST charges 0.95%/yr vs 0.04%/yr for VCSH.
Performance
PST vs. VCSH - Performance Comparison
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Returns By Period
In the year-to-date period, PST achieves a 6.51% return, which is significantly higher than VCSH's 1.14% return. Over the past 10 years, PST has outperformed VCSH with an annualized return of 2.95%, while VCSH has yielded a comparatively lower 2.67% annualized return.
PST
- 1D
- 0.17%
- 1M
- 1.92%
- 6M
- 5.18%
- YTD
- 6.51%
- 1Y
- 6.77%
- 3Y*
- 4.22%
- 5Y*
- 10.56%
- 10Y*
- 2.95%
- ALL TIME*
- -5.03%
VCSH
- 1D
- 0.00%
- 1M
- 0.05%
- 6M
- 0.79%
- YTD
- 1.14%
- 1Y
- 3.38%
- 3Y*
- 5.50%
- 5Y*
- 2.40%
- 10Y*
- 2.67%
- ALL TIME*
- 2.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $151.07K | $143.95K | $189.03K | |
| $328.07M | $286.75M | $332.32M |
PST vs. VCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 6.51% | -4.42% | 12.27% | 3.17% | 38.55% | 4.01% | -18.67% | -11.03% | 1.72% | -4.52% |
VCSH Vanguard Short-Term Corporate Bond ETF | 1.14% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 5.13% | 7.02% | 0.92% | 2.17% |
Correlation
The correlation between PST and VCSH is -0.87, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.87 |
Correlation (3Y) Balances recent behavior with more history. | -0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.84 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | -0.67 |
The correlation between PST and VCSH shifts across timeframes, from -0.87 (1 year) to -0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PST vs. VCSH — Risk / Return Rank
PST
VCSH
PST vs. VCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and Vanguard Short-Term Corporate Bond ETF (VCSH). 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 | VCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.34 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 2.42 | -0.99 |
| Martin ratioReturn relative to average drawdown | 2.94 | 9.54 | -6.60 |
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Drawdowns
PST vs. VCSH - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, which is greater than VCSH's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for PST and VCSH.
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Drawdown Indicators
| PST | VCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -12.86% | -66.39% |
Max Drawdown (1Y)Largest decline over 1 year | -4.73% | -1.40% | -3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -1.40% | -14.79% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -9.41% | -6.78% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -12.86% | -23.21% |
Current DrawdownCurrent decline from peak | -63.46% | 0.00% | -63.46% |
Average DrawdownAverage peak-to-trough decline | -61.49% | -0.96% | -60.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 0.36% | +1.95% |
Volatility
PST vs. VCSH - Volatility Comparison
ProShares UltraShort 7-10 Year Treasury (PST) has a higher volatility of 2.71% compared to Vanguard Short-Term Corporate Bond ETF (VCSH) at 0.54%. This indicates that PST's price experiences larger fluctuations and is considered to be riskier than VCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | VCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 0.54% | +2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 7.39% | 1.58% | +5.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.18% | 1.87% | +7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 2.90% | +12.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.29% | 3.35% | +9.94% |
PST vs. VCSH - Expense Ratio Comparison
PST has a 0.95% expense ratio, which is higher than VCSH's 0.04% expense ratio.
Dividends
PST vs. VCSH - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 2.82%, less than VCSH's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 2.82% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% | 0.00% | 0.00% | 0.00% |
VCSH Vanguard Short-Term Corporate Bond ETF | 4.46% | 4.35% | 3.96% | 3.09% | 2.01% | 1.81% | 2.27% | 2.87% | 2.65% | 2.26% | 2.10% | 2.08% |
Frequently Asked Questions
PST and VCSH have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PST has higher volatility (2.71%) compared to VCSH (0.54%). In terms of maximum drawdown, PST dropped -79.25% vs VCSH's -12.86%.
On 10-year performance, PST leads with 2.95% vs 2.67% for VCSH. On fees, VCSH is cheaper at 0.04% per year. On volatility, VCSH has been the lower-risk option at 0.54%. 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 2.95% return vs 2.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCSH is cheaper with a 0.04% expense ratio, compared with 0.95% for PST.
VCSH has the higher dividend yield at 4.46%, compared with 2.82% for PST.
PST is categorized as Inverse Bonds, while VCSH is Corporate Bonds. PST tracks ICE U.S. Treasury 7-10 Year Bond Index, while VCSH tracks Bloomberg U.S. 1-5 Year Corporate Bond Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for PST and 0.04% for VCSH.
VCSH currently has the higher Sharpe Ratio (1.81 vs 0.74), 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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