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IBN vs. SH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBN vs. SH

Last updated Jun 13, 2026

IBN (ICICI Bank Limited) is a stock, while SH (ProShares Short S&P500) is Inverse Equities fund tracking the S&P 500 (-100%). Over the past 10 years, IBN returned 16.38%/yr vs -12.83%/yr for SH. At a correlation of -0.52, they often move in opposite directions.

Performance

IBN vs. SH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICICI Bank Limited (IBN) and ProShares Short S&P500 (SH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IBN achieves a -6.74% return, which is significantly lower than SH's -6.39% return. Over the past 10 years, IBN has outperformed SH with an annualized return of 16.38%, while SH has yielded a comparatively lower -12.83% annualized return.

IBN

1D
1.20%
1M
6.15%
YTD
-6.74%
6M
-8.10%
1Y
-15.35%
3Y*
7.22%
5Y*
10.36%
10Y*
16.38%

SH

1D
-0.50%
1M
1.30%
YTD
-6.39%
6M
-6.43%
1Y
-15.90%
3Y*
-11.96%
5Y*
-8.68%
10Y*
-12.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IBN vs. SH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IBN
ICICI Bank Limited		-6.74%0.57%26.32%9.80%11.27%33.57%-1.52%47.01%6.25%44.03%
SH
ProShares Short S&P500		-6.39%-11.35%-13.52%-14.80%18.98%-24.21%-25.09%-22.12%4.93%-17.36%

Correlation

The correlation between IBN and SH is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.31

Correlation (3Y)
Calculated over the trailing 3-year period

-0.33

Correlation (5Y)
Calculated over the trailing 5-year period

-0.45

Correlation (10Y)
Calculated over the trailing 10-year period

-0.42

Correlation (All Time)
Calculated using the full available price history since Jun 21, 2006

-0.52

Over the past year, the inverse relationship between IBN and SH has weakened: their correlation has moved from -0.52 to -0.31, meaning they move in opposite directions less often than they have historically.

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ICICI Bank Limited

ProShares Short S&P500

Often compared with IBN:
IBN vs. HDBIBN vs. PRUIBN vs. RDYIBN vs. HDIBN vs. INDAIBN vs. ^GSPCIBN vs. JPM
Often compared with SH:
SH vs. SPYSH vs. SDSSH vs. SPDNSH vs. SCHDSH vs. SQQQSH vs. DOGSH vs. IVOL

Return for Risk

IBN vs. SH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IBN
IBN Risk / Return Rank: 1414
Overall Rank
IBN Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
IBN Sortino Ratio Rank: 1111
Sortino Ratio Rank
IBN Omega Ratio Rank: 1212
Omega Ratio Rank
IBN Calmar Ratio Rank: 2020
Calmar Ratio Rank
IBN Martin Ratio Rank: 1616
Martin Ratio Rank
SH
SH Risk / Return Rank: 11
Overall Rank
SH Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SH Sortino Ratio Rank: 11
Sortino Ratio Rank
SH Omega Ratio Rank: 11
Omega Ratio Rank
SH Calmar Ratio Rank: 22
Calmar Ratio Rank
SH Martin Ratio Rank: 11
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBN vs. SH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICICI Bank Limited (IBN) and ProShares Short S&P500 (SH). 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.

IBNSHDifference
Sharpe ratioReturn per unit of total volatility
-0.80
-1.22

+0.42

Sortino ratioReturn per unit of downside risk
-1.07
-1.75

+0.68

Omega ratioGain probability vs. loss probability

0.87

0.81

+0.06

Calmar ratioReturn relative to maximum drawdown

-0.63

-0.82

+0.19

Martin ratioReturn relative to average drawdown

-1.20

-1.47

+0.27

IBN vs. SH - Sharpe Ratio Comparison

The current IBN Sharpe Ratio is -0.80, which is higher than the SH Sharpe Ratio of -1.22. The chart below compares the historical Sharpe Ratios of IBN and SH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IBN vs. SH - Drawdown Comparison

The maximum IBN drawdown since its inception was -86.09%, smaller than the maximum SH drawdown of -94.66%. Use the drawdown chart below to compare losses from any high point for IBN and SH.

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Drawdown Indicators

IBNSHDifference

Max Drawdown

Largest peak-to-trough decline

-86.09%

-94.66%

+8.57%

Max Drawdown (1Y)

Largest decline over 1 year

-26.20%

-18.16%

-8.04%

Max Drawdown (3Y)

Largest decline over 3 years

-26.20%

-38.82%

+12.62%

Max Drawdown (5Y)

Largest decline over 5 years

-26.24%

-44.53%

+18.29%

Max Drawdown (10Y)

Largest decline over 10 years

-55.05%

-76.12%

+21.07%

Current Drawdown

Current decline from peak

-18.62%

-94.53%

+75.91%

Average Drawdown

Average peak-to-trough decline

-28.00%

-67.75%

+39.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.71%

10.13%

+3.58%

Volatility

IBN vs. SH - Volatility Comparison

ICICI Bank Limited (IBN) has a higher volatility of 6.66% compared to ProShares Short S&P500 (SH) at 4.33%. This indicates that IBN's price experiences larger fluctuations and is considered to be riskier than SH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IBNSHDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.66%

4.33%

+2.33%

Volatility (6M)

Calculated over the trailing 6-month period

17.03%

9.59%

+7.44%

Volatility (1Y)

Calculated over the trailing 1-year period

20.68%

12.28%

+8.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.64%

16.91%

+6.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.63%

18.04%

+13.59%

Dividends

IBN vs. SH - Dividend Comparison

IBN's dividend yield for the trailing twelve months is around 0.90%, less than SH's 4.43% yield.

PositionTTM20252024202320222021202020192018201720162015
IBN
ICICI Bank Limited		0.90%0.84%0.80%0.81%0.57%0.27%0.00%0.19%0.43%0.79%1.98%4.01%
SH
ProShares Short S&P500		4.43%4.49%6.20%5.37%1.08%0.00%0.16%1.76%1.01%0.06%0.00%0.00%

Frequently Asked Questions

IBN and SH have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IBN has higher volatility (6.66%) compared to SH (4.33%). In terms of maximum drawdown, IBN dropped -86.09% vs SH's -94.66%.

IBN currently has the higher Sharpe Ratio (-0.80 vs -1.22), 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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