ProShares - Short QQQ
AThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$24.74+0.08 (+0.32%)
- 1.00%
- $562M
- −19.1%
- 4.21%
- 10.6M sh
- $24.66
- low $24.09high $33.47
The ETF.net PSQ Grade
A
Score 75 out of 100
- 5 of 54
Score 75 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A75 out of 100Rank 13 of 54Mission
Whether the fund did what it promised, tested against its stated mandate.A97 out of 100Rank 4 of 9Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B55 out of 100Rank 19 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A98 out of 100Rank 1 of 54Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B56 out of 100Rank 6 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A72 out of 100Rank 2 of 54
Our read on PSQ
APSQ takes the short side of the Nasdaq-100 with no leverage bolted on: one times inverse, reset every day. It is the mildest of ProShares' three Nasdaq-100 bears and has been running since 2006.
The fund is designed to provide -1x exposure to the Nasdaq-100 Index's daily price movement, seeking to benefit when that index declines.
Why people hold it
- Straight -1x. A down day in the Nasdaq-100 is an up day here, without a 2x or 3x multiplier amplifying every wiggle in the math.proshares.com
- The 1.00% expense ratio sits under the typical fee in the leveraged and inverse bear crowd, unusual for a niche tool.
- Hits its stated daily target closely and is one of the more actively traded inverse funds around, which matters for a vehicle built to be used in short bursts.
- Live since 2006, so the plumbing has been through multiple full market cycles rather than one recent stretch.
Worth knowing
- The daily reset is the whole story. Hold past one session and compounding takes over, so results over a week or a month can drift well away from -1x the index move for that stretch.proshares.com
- A 1.00% fee is heavy next to a plain index fund, and it accrues whether the Nasdaq-100 falls or not.
- Siblings QID and SQQQ run the same trade at -2x and -3x. PSQ stays at -1x by design, meaning smaller moves in both directions.
PSQ Holdings
- Stocks
- 4
- 126%
- IQMM
Sectors
- Financials100.0%
Geography
- United States100.00%
PSQ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
PSQ$8,085
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PSQ |
|---|---|
| Year to date | −16.4% |
| 1 month | −3.9% |
| 3 months | −2.1% |
| 1 year | −19.1% |
| 3 years | −18.3% |
| 5 years | −13.3% |
| 10 years | −18.6% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PSQ |
|---|---|---|
| 2026 YTD | −16.4% | |
| 2025 | −15.5% | |
| 2024 | −15.6% | |
| 2023 | −32.1% | |
| 2022 | +36.4% | |
| 2021 | −24.8% | |
| 2020 | −41.2% |
PSQ in the news
PSQ Dividends
- 4.21%
- $1.04
- $0.26 per share
- Quarterly
Distribution history
PSQ Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 16.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −1.48
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −61.5%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −1.18
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PSQ Cost
1.00%
PSQ1.00%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
13 of the 53 Leveraged Inverse (2x & Other) funds charge less.
Other funds in Leveraged Inverse (2x & Other)
- AYCSProShares - UltraShort YenExpense ratio 0.95%1 year return +17.1%
- ADOGProShares Short Dow30Expense ratio 0.99%1 year return −9.0%
- ARWMProShares - Short Russell2000Expense ratio 1.04%1 year return −12.9%
- BSARKTradr 1X Short Innovation Daily ETFExpense ratio 0.96%1 year return −13.2%
- BSJBProShares - Short High YieldExpense ratio 1.06%1 year return +2.4%