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Launched · SEC filings

ProShares Short QQQ

PSQNYSE ArcaProSharesBThis 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.

$26.99+0.36 (+1.35%)

At close: Nov 2, 2026, 4:00 PM ET

B64/ 100

Rank 3 of 54 in Leveraged Inverse (2x & Other)

B64/100Rank 3 of 54inLeveraged Inverse (2x & Other)
Intraday session: up, 79 prints from 26.63 to 26.99. Range 26.34 to 27.02. Use the arrow keys to read each point.26.4026.8010 AM12 PM2 PM4 PM
Expense ratio
0.95%*
Fund size
$611M
1Y total return
−7.0%
Yield · Last 12 months
3.90%
Holdings
4
Avg volume · 30D
13M sh
52W range
low $24.09high $33.47
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 30, 2027. Without it: 0.96%.

The ETF.net PSQ Grade

B

Score 64 out of 100

Category
Leveraged Inverse (2x & Other)⁠
Rank
3 of 54
Six-pillar profile for PSQ. Scores out of 100: Cost 50, Risk 59, Mission 98, Tradability 98, Holdings 55, Durability 72. Strongest: Mission (98). Weakest: Cost (50). Leans toward Mission and Tradability.

Score 64 of 100 falls in the B 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.
    C50 out of 100
    Rank 1 of 54

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A98 out of 100
    Rank 3 of 9

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B59 out of 100
    Rank 19 of 53

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A98 out of 100
    Rank 1 of 54

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B55 out of 100
    Rank 7 of 16

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A72 out of 100
    Rank 2 of 54

Our read on PSQ

ETF.net Research

In short

BThe plain short on the Nasdaq-100: PSQ aims for -1x the index's daily move, with no leverage multiplier bolted on. It has been running since 2006, making it one of the original one-for-one bear tools.

Stated mandate

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

  • ProShares bills it as the only -1x ETF built to profit when the Nasdaq-100's daily price falls. Sibling QID doubles the dose at -2x; PSQ stays one-for-one.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (0.96% gross), near the category median and the same net fee as -2x QID, also waived through September 30, 2027.
  • Among the most actively traded funds in the bear category, and one of the closest to its stated daily target in a peer group of 50-plus funds.

Worth knowing

  • The -1x goal resets daily. Over weeks or months, compounding means results can differ from -1x the index's move across that stretch, especially in choppy markets.sec.gov
  • Cheap for this corner of the market, pricey next to a broad index fund. The fee accrues every day you hold it, hedge or trade.
  • It cuts one way: when the Nasdaq-100 rises on the day, PSQ is designed to fall roughly in step.

PSQ Performance

Launched Jun 19, 2006

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

PSQ$9,301
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. PSQ $9,301. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for PSQ. Periods over one year show the average yearly return.
PeriodPSQ
Year to date−9.7%
1 month+7.3%
3 months+0.3%
1 year−7.0%
3 yearsper year−17.7%
5 yearsper year−10.5%
10 yearsper year−18.0%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PSQ
YearReturn barPSQ
2026 YTD−9.7%
2025−15.5%
2024−15.6%
2023−32.1%
2022+36.4%

PSQ in the news

PSQ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.90%Last 12 months
Payout per share
$1.04Last 12 months
Last payment
$0.26 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.03; Mar 21, 2018 $0.20; Jun 20, 2018 $0.39; Sep 26, 2018 $0.51; Dec 26, 2018 $0.53; Mar 20, 2019 $0.51; Jun 25, 2019 $0.66; Sep 25, 2019 $0.57; Dec 24, 2019 $0.41; Mar 25, 2020 $0.22; Dec 22, 2022 $0.25; Mar 22, 2023 $0.46; Jun 21, 2023 $0.72; Sep 20, 2023 $0.72; Dec 20, 2023 $0.95; Mar 20, 2024 $0.54; Jun 26, 2024 $0.76; Sep 25, 2024 $0.68; Dec 23, 2024 $0.70; Mar 26, 2025 $0.34; Jun 25, 2025 $0.40; Sep 24, 2025 $0.36; Dec 24, 2025 $0.40; Mar 25, 2026 $0.15; Jun 24, 2026 $0.23; Sep 23, 2026 $0.26. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.26
Jun 24, 2026Jun 30, 2026$0.23
Mar 25, 2026Mar 31, 2026$0.15
Dec 24, 2025Dec 31, 2025$0.40
Sep 24, 2025Sep 30, 2025$0.36
Jun 25, 2025Jul 1, 2025$0.40
Mar 26, 2025Apr 1, 2025$0.34
Dec 23, 2024Dec 31, 2024$0.70
Sep 25, 2024Oct 2, 2024$0.68
Jun 26, 2024Jul 3, 2024$0.76
Mar 20, 2024Mar 27, 2024$0.54
Dec 20, 2023Dec 28, 2023$0.95

See all 35 payments⁠

$10,000 in PSQ 10 years ago paid $481 in dividends.⁠

PSQ Risk

Risk pillarB59 out of 100Rank 19 of 53 in Leveraged Inverse (2x & Other)

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.

How much the fund’s monthly returns vary, scaled to a year.
16.8%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−1.33
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−61.5%
Trough Oct 2026
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.

How strongly the fund’s returns move with its asset-class index.
−1.18
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

PSQ Cost

Compare PSQ and QQQD

Overpaying vs QQQD, cheapest in Leveraged Inverse (2x & Other)

$7,890

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PSQ 0.95%

    $17,869

  • QQQD 0.50% Cheapest

    $9,979

$10,000
30 years

Cost over time

  • PSQ 0.95%
  • QQQD 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530PSQ $17,869QQQD $9,979

Year by year

YearPSQQQQDOverpaying
10$1,678$900$778
20$6,322$3,460$2,862
30$17,869$9,979$7,890
How the 0.95% is worked out

Full fee 0.96%− waiver 0.01%= you pay 0.95%

The waiver ends Sep 30, 2027. After that the fee is 0.96% unless ProShares renews it. Source: prospectus, Sep 2026.

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