SJB vs. PST
SJB (ProShares Short High Yield) and PST (ProShares UltraShort 7-10 Year Treasury) are both Inverse Bonds funds from ProShares - SJB tracks the iBoxx $ Liquid High Yield Index (-100%) while PST tracks the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, SJB returned -3.86%/yr vs 2.73%/yr for PST. At a 0.00 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
SJB vs. PST - Performance Comparison
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Returns By Period
In the year-to-date period, SJB achieves a 0.74% return, which is significantly lower than PST's 4.69% return. Over the past 10 years, SJB has underperformed PST with an annualized return of -3.86%, while PST has yielded a comparatively higher 2.73% annualized return.
SJB
- 1D
- 0.13%
- 1M
- -0.16%
- YTD
- 0.74%
- 6M
- 0.66%
- 1Y
- -0.07%
- 3Y*
- -2.22%
- 5Y*
- -0.36%
- 10Y*
- -3.86%
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%
SJB vs. PST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 0.74% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -9.23% | -11.42% | 2.47% | -6.17% |
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% |
Correlation
The correlation between SJB and PST is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2011 | 0.00 |
Over the past year, SJB and PST have become more correlated (0.53) than their long-term average of 0.00, meaning their price movements have been converging.
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Return for Risk
SJB vs. PST — Risk / Return Rank
SJB
PST
SJB vs. PST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) and ProShares UltraShort 7-10 Year Treasury (PST). 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.
| SJB | PST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.06 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.45 | -0.47 |
| Martin ratioReturn relative to average drawdown | -0.05 | 0.80 | -0.85 |
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Drawdowns
SJB vs. PST - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, smaller than the maximum PST drawdown of -79.25%. Use the drawdown chart below to compare losses from any high point for SJB and PST.
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Drawdown Indicators
| SJB | PST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -79.25% | +21.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -6.90% | +4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -10.54% | -16.19% | +5.65% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -16.19% | +2.89% |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | -36.07% | +1.50% |
Current DrawdownCurrent decline from peak | -57.40% | -64.08% | +6.68% |
Average DrawdownAverage peak-to-trough decline | -42.52% | -61.48% | +18.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 3.83% | -2.53% |
Volatility
SJB vs. PST - Volatility Comparison
The current volatility for ProShares Short High Yield (SJB) is 1.06%, while ProShares UltraShort 7-10 Year Treasury (PST) has a volatility of 2.73%. This indicates that SJB experiences smaller price fluctuations and is considered to be less risky than PST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJB | PST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 2.73% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 7.03% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 9.49% | -5.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.52% | 15.59% | -8.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.50% | 13.30% | -4.80% |
SJB vs. PST - Expense Ratio Comparison
Both SJB and PST have an expense ratio of 0.95%.
Dividends
SJB vs. PST - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.43%, more than PST's 3.08% yield.
| 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% |
SJB ProShares Short High Yield | 3.43% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% |
Frequently Asked Questions
SJB and PST have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PST has higher volatility (2.73%) compared to SJB (1.06%). In terms of maximum drawdown, SJB dropped -58.06% vs PST's -79.25%.
On 10-year performance, PST leads with 2.73% vs -3.86% for SJB. Both ETFs have the same 0.95% expense ratio. On volatility, SJB has been the lower-risk option at 1.06%. 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 -3.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SJB and PST have the same expense ratio: 0.95% per year.
SJB has the higher dividend yield at 3.43%, compared with 3.08% for PST.
SJB tracks iBoxx $ Liquid High Yield Index (-100%), while PST tracks ICE U.S. Treasury 7-10 Year Bond Index.
PST currently has the higher Sharpe Ratio (0.32 vs -0.02), 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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