PSQ Stock: ProShares Short QQQ ETF Profile & Analysis (2026)
A tactical inverse ETF designed to provide the daily inverse (-1x) return of the Nasdaq-100 Index. — Updated May 2026 with current AUM, expense ratio, holdings, and performance data.
The ProShares Short QQQ ETF (PSQ) is a specialized financial instrument designed for traders seeking to profit from or hedge against declines in the Nasdaq-100 Index. This index is comprised of 100 of the largest non-financial companies listed on the Nasdaq, including many high-growth semiconductor companies listed on U.S. exchanges. Unlike traditional funds, PSQ is an inverse ETF, meaning it aims to move in the opposite direction of its benchmark on a daily basis.
It is critical to understand that PSQ is intended for short-term tactical use and is not a “buy-and-hold” investment. Because the fund resets its exposure daily, compounding effects and volatility decay can cause its long-term performance to differ significantly from a simple inverse of the index over time. This makes it a very different asset class than stable investments like publicly traded sports franchises or traditional equity portfolios.
Key Takeaways — PSQ Stock
PSQ provides -1x exposure to the Nasdaq-100, making it a primary tool for “shorting” the tech-heavy index without using a margin account.
The fund is highly sensitive to moves in Big Tech, which often overlaps with sentiment in sectors like small-cap aerospace and defense stocks during market rotations.
It is most effective as a short-term hedge during periods of expected market volatility or specific downward trends in growth stocks.
Due to daily rebalancing, holding PSQ during choppy, sideways markets will lead to value erosion even if the index ends flat over time.
PSQ — Live Price Chart
Real-time chart from TradingView.
PSQ ETF Vitals & Key Statistics
Core data as of May 2026.
| Data Point | Value | Data Point | Value |
|---|---|---|---|
| Full Name | ProShares Short QQQ ETF | Ticker | PSQ |
| Issuer | ProShares | Asset Class | Inverse Equity |
| Index Tracked | Nasdaq-100 Index (-100%) | Structure | Open-Ended Investment Company |
| Expense Ratio | 0.95% | AUM | $547.00M |
| Inception Date | June 19, 2006 | Exchange | AMEX |
| No. of Holdings | 12 | Dividend Yield | 0.62% |
| 52-Week High | $25.37 | 52-Week Low | $25.11 |
| Avg Daily Volume | ~52M | YTD Return | -4.20% |
| 1-Year Return | -12.50% | 5-Year Return | -65.20% |
| Category | Inverse Tech ETF | Dividend Frequency | Quarterly |
PSQ Top 10 Holdings (May 2026)
Largest positions by weight. Click columns to sort.
| Rank | Ticker | Company Name | Sector | Weight % |
|---|---|---|---|---|
| 1 | T-BILLS | U.S. Treasury Bills | Government | 65.87% |
| 2 | CASH | Money Market Funds | Cash equivalents | 34.13% |
| 3 | SWAP | Nasdaq 100 Swap (Goldman Sachs) | Derivatives | -25.00% |
| 4 | SWAP | Nasdaq 100 Swap (Morgan Stanley) | Derivatives | -20.00% |
| 5 | SWAP | Nasdaq 100 Swap (Citibank) | Derivatives | -15.00% |
| 6 | SWAP | Nasdaq 100 Swap (BofA) | Derivatives | -15.00% |
| 7 | FUTURES | Nasdaq 100 E-Mini Futures | Derivatives | -10.00% |
| 8 | SWAP | Nasdaq 100 Swap (BNP Paribas) | Derivatives | -10.00% |
| 9 | SWAP | Nasdaq 100 Swap (J.P. Morgan) | Derivatives | -5.00% |
| 10 | N/A | Other Collateral/Derivatives | Diversified | < 1% |
PSQ — Pros & Cons
✓ Direct Hedge
Excellent tool for hedging tech-heavy portfolios without selling individual stocks.
✗ Volatility Decay
Mathematical erosion occurs in volatile markets due to daily reset mechanics.
✓ No Margin Required
Allows “shorting” the Nasdaq-100 in standard brokerage or IRA accounts.
✗ High Costs
The 0.95% expense ratio is significantly higher than passive long ETFs.
✓ High Liquidity
Heavy daily trading volume ensures tight bid-ask spreads for traders.
✗ Market Risk
In a tech bull market, PSQ will lose value consistently and rapidly.
Who Should Consider PSQ?
Active day traders and swing traders looking for short-term protection against tech sector downturns.
Long-term, “buy-and-hold” investors or those seeking a permanent hedge for their retirement accounts.
You expect a short-term correction in growth and technology stocks over the next few days or weeks.
Brokerage accounts, IRAs (for tactical use), and active trading sub-accounts.
PSQ vs Similar ETFs
Key metrics comparison.
| ETF | Full Name | Expense Ratio | AUM | Holdings | Div Yield | YTD | Best For |
|---|---|---|---|---|---|---|---|
| PSQ ★ | ProShares Short QQQ ETF | 0.95% | $547.00M | 12 | 0.62% | -4.20% | -1x Tactical Short Tech |
| SQQQ | ProShares UltraPro Short QQQ | 0.95% | $4.2B | 15 | 1.2% | -18.5% | Aggressive -3x Tech Short |
| QID | ProShares UltraShort QQQ | 0.95% | $280M | 12 | 0.8% | -12.1% | Moderate -2x Tech Short |
| SH | ProShares Short S&P 500 | 0.88% | $2.1B | 10 | 1.5% | -3.2% | Broad Market -1x Short |
PSQ Technical Analysis
Real-time buy/sell signals.
PSQ — Risks & Considerations
Daily Reset Risk
The fund targets a one-day return only. Over time, the math of daily rebalancing can deviate significantly from the total inverse return.
Volatility Decay
In a “choppy” market where the index fluctuates but ends flat, PSQ will likely lose value due to rebalancing costs.
Counterparty Risk
PSQ uses swaps with major financial institutions; there is a theoretical risk if these counterparties default on their obligations.
Compounding Losses
If the Nasdaq-100 trends upward for several days, losses in PSQ compound, leading to rapid capital depletion for the holder.