EMTY vs. SBB
EMTY (ProShares Decline of the Retail Store ETF) and SBB (ProShares Short SmallCap600) are both Inverse Equities funds from ProShares - EMTY tracks the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%) while SBB tracks the S&P SmallCap 600 Index (-100%). Both are passively managed. Over the past 5 years, EMTY returned -3.47%/yr vs -6.12%/yr for SBB. Their 0.74 correlation means they have sometimes moved together and sometimes differently. EMTY charges 0.66%/yr vs 0.95%/yr for SBB.
Performance
EMTY vs. SBB - Performance Comparison
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Returns By Period
In the year-to-date period, EMTY achieves a -4.88% return, which is significantly higher than SBB's -18.28% return.
EMTY
- 1D
- 0.18%
- 1M
- -5.42%
- 6M
- 4.00%
- YTD
- -4.88%
- 1Y
- -1.14%
- 3Y*
- -4.45%
- 5Y*
- -3.47%
- 10Y*
- —
- ALL TIME*
- -11.61%
SBB
- 1D
- 0.87%
- 1M
- -1.30%
- 6M
- -11.91%
- YTD
- -18.28%
- 1Y
- -23.90%
- 3Y*
- -9.98%
- 5Y*
- -6.12%
- 10Y*
- -11.82%
- ALL TIME*
- -12.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $42.12K | $40.50K | $50.28K | |
| $22.65K | $20.27K | $47.73K |
EMTY vs. SBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | -4.88% | -1.76% | -4.13% | 0.27% | 4.32% | -37.39% | -31.92% | -8.65% | 11.16% | -15.97% |
SBB ProShares Short SmallCap600 | -18.28% | -3.56% | -3.73% | -10.44% | 13.75% | -25.40% | -26.53% | -18.64% | 8.40% | -5.27% |
Correlation
The correlation between EMTY and SBB is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.74 |
The correlation between EMTY and SBB shifts across timeframes, from 0.60 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMTY vs. SBB — Risk / Return Rank
EMTY
SBB
EMTY vs. SBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) 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.
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.
| EMTY | SBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.79 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | -0.97 | +0.88 |
| Martin ratioReturn relative to average drawdown | -0.18 | -1.75 | +1.57 |
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Drawdowns
EMTY vs. SBB - Drawdown Comparison
The maximum EMTY drawdown since its inception was -77.62%, smaller than the maximum SBB drawdown of -96.03%. Use the drawdown chart below to compare losses from any high point for EMTY and SBB.
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Drawdown Indicators
| EMTY | SBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.62% | -96.03% | +18.41% |
Max Drawdown (1Y)Largest decline over 1 year | -13.91% | -24.84% | +10.93% |
Max Drawdown (3Y)Largest decline over 3 years | -30.83% | -39.36% | +8.53% |
Max Drawdown (5Y)Largest decline over 5 years | -30.83% | -39.36% | +8.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -73.51% | — |
Current DrawdownCurrent decline from peak | -76.26% | -95.99% | +19.73% |
Average DrawdownAverage peak-to-trough decline | -54.68% | -74.71% | +20.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 13.70% | -7.33% |
Volatility
EMTY vs. SBB - Volatility Comparison
ProShares Decline of the Retail Store ETF (EMTY) has a higher volatility of 6.47% compared to ProShares Short SmallCap600 (SBB) at 4.19%. This indicates that EMTY's price experiences larger fluctuations and is considered to be riskier 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
| EMTY | SBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 4.19% | +2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 13.86% | 12.19% | +1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.44% | 17.65% | +0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.45% | 21.55% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.59% | 23.24% | +2.35% |
EMTY vs. SBB - Expense Ratio Comparison
EMTY has a 0.66% expense ratio, which is lower than SBB's 0.95% expense ratio.
Dividends
EMTY vs. SBB - Dividend Comparison
EMTY's dividend yield for the trailing twelve months is around 3.42%, less than SBB's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.42% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% |
SBB ProShares Short SmallCap600 | 3.80% | 3.44% | 4.86% | 4.64% | 0.31% | 0.00% | 0.04% | 1.20% | 0.17% | 0.00% |
Frequently Asked Questions
EMTY and SBB have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMTY has higher volatility (6.47%) compared to SBB (4.19%). In terms of maximum drawdown, EMTY dropped -77.62% vs SBB's -96.03%.
On 5-year performance, EMTY leads with -3.47% vs -6.12% for SBB. On fees, EMTY is cheaper at 0.66% per year. On volatility, SBB has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMTY has performed better with a -3.47% return vs -6.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 0.95% for SBB.
SBB has the higher dividend yield at 3.80%, compared with 3.42% for EMTY.
EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while SBB tracks S&P SmallCap 600 Index (-100%). Their fees differ too: 0.66% for EMTY and 0.95% for SBB.
EMTY currently has the higher Sharpe Ratio (-0.06 vs -1.36), 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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