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SQQQ vs. PSLV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SQQQ vs. PSLV

Last updated Jun 4, 2026

SQQQ (ProShares UltraPro Short QQQ) and PSLV (Sprott Physical Silver Trust) are both exchange-traded funds - SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%), while PSLV is a Silver fund tracking the No Index (Physical Silver). Both are passively managed. Over the past 10 years, SQQQ returned -56.01%/yr vs 13.97%/yr for PSLV. At a correlation of -0.15, they often move in opposite directions. SQQQ charges 0.95%/yr vs 0.51%/yr for PSLV.

Performance

SQQQ vs. PSLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short QQQ (SQQQ) and Sprott Physical Silver Trust (PSLV). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SQQQ achieves a -45.27% return, which is significantly lower than PSLV's -1.78% return. Over the past 10 years, SQQQ has underperformed PSLV with an annualized return of -56.01%, while PSLV has yielded a comparatively higher 13.97% annualized return.

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%

PSLV

1D
-2.76%
1M
-1.61%
YTD
-1.78%
6M
18.46%
1Y
100.09%
3Y*
41.73%
5Y*
18.43%
10Y*
13.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SQQQ vs. PSLV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
PSLV
Sprott Physical Silver Trust		-1.78%145.08%19.43%-1.94%2.74%-14.13%42.81%16.99%-11.83%4.28%

Correlation

The correlation between SQQQ and PSLV is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.27

Correlation (3Y)
Calculated over the trailing 3-year period

-0.23

Correlation (5Y)
Calculated over the trailing 5-year period

-0.20

Correlation (10Y)
Calculated over the trailing 10-year period

-0.18

Correlation (All Time)
Calculated using the full available price history since Nov 1, 2010

-0.15

The correlation between SQQQ and PSLV shifts across timeframes, from -0.27 (1 year) to -0.15 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraPro Short QQQ

Sprott Physical Silver Trust

Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. UVXYSQQQ vs. SPXUSQQQ vs. QID
Often compared with PSLV:
PSLV vs. SLVPSLV vs. SILPSLV vs. SVR.TOPSLV vs. SLVPPSLV vs. AGPSLV vs. GLDPSLV vs. GOLD

Return for Risk

SQQQ vs. PSLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SQQQ
SQQQ Risk / Return Rank: 00
Overall Rank
SQQQ Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 00
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 00
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 00
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 00
Martin Ratio Rank
PSLV
PSLV Risk / Return Rank: 7979
Overall Rank
PSLV Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
PSLV Sortino Ratio Rank: 7474
Sortino Ratio Rank
PSLV Omega Ratio Rank: 8181
Omega Ratio Rank
PSLV Calmar Ratio Rank: 7878
Calmar Ratio Rank
PSLV Martin Ratio Rank: 7676
Martin Ratio Rank
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.

SQQQ vs. PSLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) and Sprott Physical Silver Trust (PSLV). 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.

SQQQPSLVDifference
Sharpe ratioReturn per unit of total volatility
-1.37
1.72

-3.09

Sortino ratioReturn per unit of downside risk
-2.63
1.96

-4.59

Omega ratioGain probability vs. loss probability

0.72

1.32

-0.60

Calmar ratioReturn relative to maximum drawdown

-0.99

2.48

-3.47

Martin ratioReturn relative to average drawdown

-1.82

5.50

-7.33

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SQQQ vs. PSLV - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -1.37, which is lower than the PSLV Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of SQQQ and PSLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SQQQPSLVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.37

1.72

-3.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.74

0.52

-1.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.85

0.45

-1.30

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.88

0.17

-1.05

Drawdowns

SQQQ vs. PSLV - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, which is greater than PSLV's maximum drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for SQQQ and PSLV.

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Drawdown Indicators

SQQQPSLVDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-79.38%

-20.62%

Max Drawdown (1Y)

Largest decline over 1 year

-65.95%

-40.65%

-25.30%

Max Drawdown (3Y)

Largest decline over 3 years

-92.38%

-40.65%

-51.73%

Max Drawdown (5Y)

Largest decline over 5 years

-97.23%

-40.65%

-56.58%

Max Drawdown (10Y)

Largest decline over 10 years

-99.98%

-42.79%

-57.19%

Current Drawdown

Current decline from peak

-100.00%

-36.11%

-63.89%

Average Drawdown

Average peak-to-trough decline

-92.40%

-58.15%

-34.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

35.73%

18.25%

+17.48%

Volatility

SQQQ vs. PSLV - Volatility Comparison

The current volatility for ProShares UltraPro Short QQQ (SQQQ) is 13.75%, while Sprott Physical Silver Trust (PSLV) has a volatility of 16.57%. This indicates that SQQQ experiences smaller price fluctuations and is considered to be less risky than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SQQQPSLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.75%

16.57%

-2.82%

Volatility (6M)

Calculated over the trailing 6-month period

36.45%

57.35%

-20.90%

Volatility (1Y)

Calculated over the trailing 1-year period

47.79%

58.49%

-10.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

66.64%

35.64%

+31.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

66.11%

31.14%

+34.97%

SQQQ vs. PSLV - Expense Ratio Comparison

SQQQ has a 0.95% expense ratio, which is higher than PSLV's 0.51% expense ratio.

Dividends

SQQQ vs. PSLV - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 12.48%, while PSLV has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
PSLV
Sprott Physical Silver Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%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

SQQQ and PSLV have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PSLV has higher volatility (16.57%) compared to SQQQ (13.75%). In terms of maximum drawdown, SQQQ dropped -100.00% vs PSLV's -79.38%.

On 10-year performance, PSLV leads with 13.97% vs -56.01% for SQQQ. On fees, PSLV is cheaper at 0.51% per year. On volatility, SQQQ has been the lower-risk option at 13.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, PSLV has performed better with a 13.97% return vs -56.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PSLV is cheaper with a 0.51% expense ratio, compared with 0.95% for SQQQ.

SQQQ has the higher dividend yield at 12.48%, compared with 0.00% for PSLV.

SQQQ is categorized as Leveraged Equities, while PSLV is Silver. SQQQ tracks NASDAQ-100 Index (-300%), while PSLV tracks No Index (Physical Silver). They also come from different issuers: ProShares and Sprott. Their fees differ too: 0.95% for SQQQ and 0.51% for PSLV.

PSLV currently has the higher Sharpe Ratio (1.72 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.

Portfolio Optimizer

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