# PSQ (ProShares Short QQQ)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: PSQ returned −1.3% where its own daily promise gave −3.0%, 1.7 points over.

## Key facts

- PSQ, what QQQ did: +2.1%, as of Sep 30, 2026.
- PSQ, what −1 times a day gives: −3.0%, as of Sep 30, 2026.
- PSQ, what the fund returned: −1.3%, as of Sep 30, 2026.
- PSQ, the fund itself added: +1.7 pts, as of Sep 30, 2026.
- PSQ, net assets: $594m (issuer page, as of Sep 30, 2026).
- PSQ, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## PSQ over each window to Sep 30, 2026

| Window | Fund | QQQ | -1x the move | Difference | QQQ moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −2.8% | +3.3% | −3.3% | +0.5 pts | 16% |
| 3 months | −1.3% | +2.1% | −2.1% | +0.8 pts | 19% |
| 6 months | −20.4% | +26.9% | −26.9% | +6.5 pts | 22% |
| 1 year | −17.0% | +23.8% | −23.8% | +6.8 pts | 20% |
| 3 years | −46.8% | +110.0% | not meaningful over this window | not meaningful over this window | 20% |
| Since launch | −96.4% | +1737.5% | not meaningful over this window | not meaningful over this window | 21% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of QQQ, reset daily | ETFIQ |
| Multiple a holder actually got over the window | QQQ moved +2.1% over this window, too little to read a multiple from | ETFIQ |
| Underlying | QQQ | ETFIQ |
| Segment | broad index, US large cap | ETFIQ |
| Net assets | $594m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 19% annualized | ETFIQ |

## Questions

### Did PSQ return -1 times QQQ?

Over the window to Sep 30, 2026, QQQ moved +2.1% and PSQ returned −1.3%. −1 times that move is −2.1%, so the fund came out 0.8 points ahead of it.

### Why does PSQ not return -1 times over a year?

Because it resets daily. PSQ aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, PSQ, data as of Sep 30, 2026. https://etfiq.com/funds/psq
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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