BRKD vs. SBB
BRKD (Direxion Daily BRKB Bear 1X Shares) and SBB (ProShares Short SmallCap600) are both Inverse Equities funds - BRKD tracks the Berkshire Hathaway Inc. Class B (-100%) while SBB tracks the S&P SmallCap 600 Index (-100%). Both are passively managed. Over the past year, BRKD returned 7.98% vs -21.13% for SBB. At a 0.37 correlation, their price movements are largely independent. BRKD charges 1.00%/yr vs 0.95%/yr for SBB.
Performance
BRKD vs. SBB - Performance Comparison
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Returns By Period
In the year-to-date period, BRKD achieves a 5.90% return, which is significantly higher than SBB's -12.32% return.
BRKD
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 5.90%
- 6M
- 6.63%
- 1Y
- 7.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SBB
- 1D
- 0.78%
- 1M
- -1.47%
- YTD
- -12.32%
- 6M
- -11.10%
- 1Y
- -21.13%
- 3Y*
- -9.56%
- 5Y*
- -4.60%
- 10Y*
- -11.70%
BRKD vs. SBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRKD Direxion Daily BRKB Bear 1X Shares | 5.90% | -6.69% | 2.19% |
SBB ProShares Short SmallCap600 | -12.32% | -3.56% | 7.80% |
Correlation
The correlation between BRKD and SBB is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024 | 0.37 |
The correlation between BRKD and SBB shifts across timeframes, from 0.26 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BRKD vs. SBB — Risk / Return Rank
BRKD
SBB
BRKD vs. SBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BRKB Bear 1X Shares (BRKD) and ProShares Short SmallCap600 (SBB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BRKD | SBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.79 | ||
| Sortino ratioReturn per unit of downside risk | +2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.82 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | -0.94 | +1.80 |
| Martin ratioReturn relative to average drawdown | 1.67 | -1.61 | +3.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BRKD | SBB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.60 | -1.19 | +1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.21 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | -0.50 | +0.54 |
Drawdowns
BRKD vs. SBB - Drawdown Comparison
The maximum BRKD drawdown since its inception was -17.92%, smaller than the maximum SBB drawdown of -95.75%. Use the drawdown chart below to compare losses from any high point for BRKD and SBB.
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Drawdown Indicators
| BRKD | SBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.92% | -95.75% | +77.83% |
Max Drawdown (1Y)Largest decline over 1 year | -9.34% | -22.62% | +13.28% |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -72.82% | — |
Current DrawdownCurrent decline from peak | -3.69% | -95.70% | +92.01% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -74.54% | +66.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 13.11% | -8.33% |
Volatility
BRKD vs. SBB - Volatility Comparison
The current volatility for Direxion Daily BRKB Bear 1X Shares (BRKD) is 0.00%, while ProShares Short SmallCap600 (SBB) has a volatility of 4.63%. This indicates that BRKD experiences smaller price fluctuations and is considered to be less risky than SBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRKD | SBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 4.63% | -4.63% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 11.97% | -2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.36% | 17.85% | -4.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.26% | 21.68% | -4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 23.26% | -6.00% |
BRKD vs. SBB - Expense Ratio Comparison
BRKD has a 1.00% expense ratio, which is higher than SBB's 0.95% expense ratio.
Dividends
BRKD vs. SBB - Dividend Comparison
BRKD's dividend yield for the trailing twelve months is around 2.82%, less than SBB's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BRKD Direxion Daily BRKB Bear 1X Shares | 2.82% | 3.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SBB ProShares Short SmallCap600 | 3.58% | 3.44% | 4.86% | 4.64% | 0.31% | 0.00% | 0.04% | 1.20% | 0.17% |
Frequently Asked Questions
BRKD and SBB have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBB has higher volatility (4.63%) compared to BRKD (0.00%). In terms of maximum drawdown, BRKD dropped -17.92% vs SBB's -95.75%.
On 1-year performance, BRKD leads with 7.98% vs -21.13% for SBB. On fees, SBB is cheaper at 0.95% per year. On volatility, BRKD has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BRKD has performed better with a 7.98% return vs -21.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SBB is cheaper with a 0.95% expense ratio, compared with 1.00% for BRKD.
SBB has the higher dividend yield at 3.58%, compared with 2.82% for BRKD.
BRKD tracks Berkshire Hathaway Inc. Class B (-100%), while SBB tracks S&P SmallCap 600 Index (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.00% for BRKD and 0.95% for SBB.
BRKD currently has the higher Sharpe Ratio (0.60 vs -1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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