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This letter investigates the impact of dynamic stress on the degradation of a nanoscale p-channel metal-oxide-semiconductor field-effect transistor (pMOSFET). Experimental results indicate that the off-state stress generated donorlike interface traps Nit and electron oxide traps, localized near the drain. The on-state stress produced the negative bias temperature instability which generated Nit's and positive oxide charges Qox distributed uniformly in the channel. Although the electrons trapped by the off-state stress decreased the threshold voltage |Vth|, they were detrapped readily by the subsequent on-state stress. A dynamic stress caused the nanoscale pMOSFET to build up Nit and positive Qox, which increased the |Vth| significantly. These new observations indicate that the combined dynamic process can significantly influence the reliability of scaled CMOS inverter circuits.