- ISIN
- US74348A3766
- CUSIP
- 74348A376
- Issuer
- ProShares
- Inception Date
- Jan 23, 2007
- Region
- North America (U.S.)
- Category
- Inverse Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P SmallCap 600 Index (-100%)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Micro-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $3M
Share Price Chart
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Performance
SBB Performance Chart
ProShares Short SmallCap600 (SBB) is down 13.8% since the beginning of the year. SBB is currently trading at $23 per share. Investors who bought $1,000 worth of SBB shares 5 years ago would now be looking at an investment worth $749.
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Returns By Period
ProShares Short SmallCap600 (SBB) has returned -13.82% so far this year and -22.95% over the past 12 months. Over the last ten years, SBB has returned -11.97% per year, falling short of the S&P 500 Index benchmark, which averaged 13.61% annually.
ProShares Short SmallCap600
- 1D
- 1.44%
- 1M
- -4.59%
- YTD
- -13.82%
- 6M
- -12.27%
- 1Y
- -22.95%
- 3Y*
- -9.53%
- 5Y*
- -5.62%
- 10Y*
- -11.97%
Benchmark (S&P 500 Index)
- 1D
- -1.21%
- 1M
- 0.23%
- YTD
- 8.39%
- 6M
- 10.39%
- 1Y
- 24.03%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.61%
SBB Monthly Returns History
Based on dividend-adjusted daily data since Jan 25, 2007, SBB's average daily return is -0.04%, while the average monthly return is -0.92%.
Historically, 37% of months were positive and 63% were negative. The best month was Mar 2020 with a return of +18.6%, while the worst month was Apr 2009 at -16.4%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 9 months.
On a daily basis, SBB closed higher 45% of trading days. The best single day was Mar 16, 2020 with a return of +13.5%, while the worst single day was Apr 9, 2025 at -9.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -5.58% | -1.81% | 4.78% | -9.16% | -0.98% | -1.38% | -13.82% | ||||||
| 2025 | -2.50% | 6.37% | 6.71% | 2.99% | -4.93% | -3.40% | -0.39% | -6.50% | -0.42% | 0.95% | -2.15% | 0.56% | -3.56% |
| 2024 | 4.46% | -2.98% | -2.03% | 5.72% | -3.99% | 2.47% | -9.55% | 2.02% | -0.61% | 2.81% | -9.53% | 9.26% | -3.73% |
| 2023 | -8.46% | 1.39% | 5.84% | 3.32% | 2.04% | -6.84% | -5.24% | 4.89% | 6.88% | 7.05% | -7.79% | -11.48% | -10.44% |
| 2022 | 7.41% | -1.94% | -0.86% | 8.02% | -2.65% | 8.84% | -9.51% | 4.29% | 10.89% | -11.48% | -3.70% | 6.70% | 13.75% |
| 2021 | -6.48% | -7.72% | -4.08% | -2.09% | -2.44% | -0.77% | 2.05% | -2.44% | 2.05% | -3.51% | 1.90% | -4.82% | -25.40% |
Benchmark Metrics
ProShares Short SmallCap600 has an annualized alpha of 0.51%, beta of -1.03, and R2 of 0.70 versus S&P 500 Index. Calculated based on daily prices since January 25, 2007.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -155.45%), but participation in market rallies was also limited (-75.99%) - a profile typical of counter-cyclical assets.
- Beta of -1.03 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.51%
- Beta
- -1.03
- R²
- 0.70
- Upside Capture
- -75.99%
- Downside Capture
- -155.45%
Expense Ratio
SBB has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SBB ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SBB | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.23 | ||
| Sortino ratioReturn per unit of downside risk | -4.41 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.35 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 2.65 | -3.60 |
| Martin ratioReturn relative to average drawdown | -1.69 | 11.88 | -13.57 |
Dividends
Dividend History
ProShares Short SmallCap600 provided a 3.64% dividend yield over the last twelve months, with an annual payout of $0.85 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.85 | $0.94 | $1.42 | $1.48 | $0.12 | $0.00 | $0.02 | $0.72 | $0.13 |
Dividend yield | 3.64% | 3.44% | 4.86% | 4.64% | 0.31% | 0.00% | 0.04% | 1.20% | 0.17% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares Short SmallCap600. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.00 | $0.15 | ||||||
| 2025 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.23 | $0.94 |
| 2024 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.38 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.50 | $1.42 |
| 2023 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.47 | $0.00 | $0.00 | $0.55 | $1.48 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.12 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares Short SmallCap600. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares Short SmallCap600 was 95.86%, occurring on Jun 12, 2026. The portfolio has not yet recovered.
The current ProShares Short SmallCap600 drawdown is 95.78%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -95.86%Jun 2026 | 17y 3mo | — | 17y 3moMar 2009 - now |
Financial crisis2007–2009 | -27.98%Jan 2009 | 1mo 16d | 1mo 28d | 3mo 14dNov 2008 - Mar 2009 |
Financial crisis2007–2009 | -16.96%Nov 2008 | 7d | 15d | 22dOct 2008 - Nov 2008 |
Financial crisis2007–2009 | -15.25%Jun 2008 | 4mo 9d | 4mo 3d | 8mo 12dJan 2008 - Oct 2008 |
Financial crisis2007–2009 | -10.52%Oct 2007 | 1mo 20d | 1mo 11d | 3mo 1dAug 2007 - Nov 2007 |
Drawdown Indicators
| SBB | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.86% | -56.78% | -39.08% |
Max Drawdown (1Y)Largest decline over 1 year | -24.30% | -9.10% | -15.20% |
Max Drawdown (3Y)Largest decline over 3 years | -36.80% | -18.90% | -17.90% |
Max Drawdown (5Y)Largest decline over 5 years | -36.80% | -25.43% | -11.37% |
Max Drawdown (10Y)Largest decline over 10 years | -73.52% | -33.92% | -39.60% |
Current DrawdownCurrent decline from peak | -95.78% | -2.49% | -93.29% |
Average DrawdownAverage peak-to-trough decline | -74.56% | -10.72% | -63.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.79% | 2.03% | +11.76% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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