ProShares UltraShort Basic Materials (SMN)

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

The chart shows the growth of an initial investment of $10,000 in ProShares UltraShort Basic Materials, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

ProShares UltraShort Basic Materials (SMN) has returned -18.15% so far this year and -29.84% over the past 12 months. Over the last ten years, SMN has returned -25.54% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Feb 2, 2007, SMN's average daily return is -0.08%, while the average monthly return is -1.91%.

Historically, 40% of months were positive and 60% were negative. The best month was Sep 2008 with a return of +54.6%, while the worst month was Oct 2011 at -34.4%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 8 months.

On a daily basis, SMN closed higher 46% of trading days. The best single day was Oct 15, 2008 with a return of +25.5%, while the worst single day was Oct 13, 2008 at -26.9%.

ProShares UltraShort Basic Materials has an annualized alpha of 2.73%, beta of -2.21, and R² of 0.71 versus S&P 500 Index. Calculated based on daily prices since February 05, 2007.

• This ETF tended to rise when S&P 500 Index fell (downside capture of -368.80%), but participation in market rallies was also limited (-131.96%) — a profile typical of counter-cyclical assets.
• This ETF generated an annualized alpha of 2.73% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
• Beta of -2.21 indicates this ETF moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.

SMN has a high expense ratio of 0.95%, indicating above-average management fees.

SMN ranks 3 for risk / return — in the bottom 3% 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.

The table below present risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) and compare them to a chosen benchmark (S&P 500 Index).

ProShares UltraShort Basic Materials provided a 4.30% dividend yield over the last twelve months, with an annual payout of $0.46 per share.

The table displays the monthly dividend distributions for ProShares UltraShort Basic Materials. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the ProShares UltraShort Basic Materials. 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 UltraShort Basic Materials was 99.92%, occurring on Feb 11, 2026. The portfolio has not yet recovered.

The current ProShares UltraShort Basic Materials drawdown is 99.90%.

The chart below shows the rolling one-month volatility.