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ProShares Short S&P500 (SH)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

ETF Info

ISIN

US74347B4251

CUSIP

74347B425

Issuer

ProShares

Inception Date

Jun 19, 2006

Region

North America (U.S.)

Leveraged

1x

Index Tracked

S&P 500 (-100%)

Asset Class

Equity

Asset Class Size

Large-Cap

Asset Class Style

Blend

Expense Ratio

SH has an expense ratio of 0.90%, placing it in the medium range.


Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart


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Returns By Period

ProShares Short S&P500 (SH) returned -1.42% year-to-date (YTD) and -7.72% over the past 12 months. Over the past 10 years, SH returned -11.68% annually, underperforming the S&P 500 benchmark at 10.87%.


SH

YTD

-1.42%

1M

-11.27%

6M

-0.96%

1Y

-7.72%

5Y*

-13.79%

10Y*

-11.68%

^GSPC (Benchmark)

YTD

1.30%

1M

12.94%

6M

1.49%

1Y

12.48%

5Y*

15.82%

10Y*

10.87%

*Annualized

Monthly Returns

The table below presents the monthly returns of SH, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025-2.10%1.81%6.25%-0.38%-6.56%-1.42%
2024-1.00%-4.28%-2.52%4.81%-3.94%-2.78%-0.44%-1.85%-1.43%1.47%-5.04%3.04%-13.52%
2023-5.61%3.04%-3.02%-1.13%0.20%-5.43%-2.52%2.44%5.64%2.83%-7.80%-3.60%-14.80%
20225.14%2.58%-4.08%9.08%-1.04%8.48%-8.61%4.24%9.92%-7.70%-5.33%6.50%18.07%
20210.72%-2.87%-4.66%-5.07%-0.88%-2.41%-2.53%-3.07%4.75%-6.76%0.56%-4.62%-24.21%
20200.17%8.57%6.04%-12.51%-5.04%-2.70%-5.59%-6.77%3.25%2.12%-10.02%-3.75%-25.09%
2019-7.21%-2.92%-1.66%-3.51%6.97%-6.32%-1.20%1.56%-1.74%-1.95%-3.40%-2.64%-22.12%
2018-5.20%3.46%2.50%-0.33%-2.19%-0.44%-3.41%-2.93%-0.26%7.14%-1.78%9.27%4.93%
2017-1.78%-3.73%-0.17%-0.93%-1.38%-0.59%-1.91%-0.21%-1.89%-2.27%-2.83%-1.15%-17.36%
20164.94%-0.23%-6.59%-0.49%-1.87%-0.51%-3.67%-0.05%-0.29%1.73%-3.67%-2.06%-12.46%
20152.75%-5.36%1.32%-1.12%-1.37%1.96%-2.44%5.91%2.09%-8.04%-0.53%1.36%-4.18%
20143.45%-4.52%-1.00%-0.93%-2.33%-2.14%1.24%-3.93%1.27%-2.61%-2.81%0.00%-13.67%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of SH is 6, meaning it’s performing worse than 94% of other ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of SH is 66
Overall Rank
The Sharpe Ratio Rank of SH is 66
Sharpe Ratio Rank
The Sortino Ratio Rank of SH is 55
Sortino Ratio Rank
The Omega Ratio Rank of SH is 44
Omega Ratio Rank
The Calmar Ratio Rank of SH is 1111
Calmar Ratio Rank
The Martin Ratio Rank of SH is 44
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for ProShares Short S&P500 (SH) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

ProShares Short S&P500 Sharpe ratios as of May 17, 2025 (values are recalculated daily):

  • 1-Year: -0.40
  • 5-Year: -0.78
  • 10-Year: -0.64
  • All Time: -0.57

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of ProShares Short S&P500 compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.


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Dividends

Dividend History

ProShares Short S&P500 provided a 5.71% dividend yield over the last twelve months, with an annual payout of $2.37 per share.


0.00%1.00%2.00%3.00%4.00%5.00%6.00%$0.00$0.50$1.00$1.50$2.00$2.5020172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017
Dividend$2.37$2.63$2.79$0.20$0.00$0.11$1.69$1.26$0.07

Dividend yield

5.71%6.20%5.37%0.32%0.00%0.16%1.76%1.01%0.06%

Monthly Dividends

The table displays the monthly dividend distributions for ProShares Short S&P500. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.31$0.00$0.00$0.31
2024$0.00$0.00$0.57$0.00$0.00$0.79$0.00$0.00$0.56$0.00$0.00$0.70$2.63
2023$0.00$0.00$0.49$0.00$0.00$0.70$0.00$0.00$0.66$0.00$0.00$0.94$2.79
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.20$0.20
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
2020$0.00$0.00$0.11$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.11
2019$0.00$0.00$0.41$0.00$0.00$0.51$0.00$0.00$0.43$0.00$0.00$0.35$1.69
2018$0.00$0.00$0.15$0.00$0.00$0.31$0.00$0.00$0.43$0.00$0.00$0.37$1.26
2017$0.07$0.07

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 S&P500. 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 S&P500 was 93.70%, occurring on Dec 4, 2024. The portfolio has not yet recovered.

The current ProShares Short S&P500 drawdown is 93.55%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-93.7%Mar 10, 20093963Dec 4, 2024
-22.07%Nov 21, 200830Jan 6, 200937Mar 2, 200967
-17.15%Oct 28, 20086Nov 4, 200811Nov 19, 200817
-15.21%Jul 18, 2006310Oct 9, 200770Jan 18, 2008380
-11.46%Mar 11, 200849May 19, 200832Jul 3, 200881

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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