MYY vs. ESML
MYY (ProShares Short S&P Mid Cap400) and ESML (iShares ESG Aware MSCI USA Small-Cap ETF) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while ESML is a Small Cap Growth Equities fund tracking the MSCI USA Small Cap Extended ESG Focus Index. Both are passively managed. Over the past 5 years, MYY returned -5.92%/yr vs 7.18%/yr for ESML. At a correlation of -0.97, they often move in opposite directions. MYY charges 0.95%/yr vs 0.17%/yr for ESML.
Performance
MYY vs. ESML - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.13% return, which is significantly lower than ESML's 16.26% return.
MYY
- 1D
- 0.02%
- 1M
- -3.52%
- YTD
- -11.13%
- 6M
- -11.03%
- 1Y
- -16.67%
- 3Y*
- -9.90%
- 5Y*
- -5.92%
- 10Y*
- -11.12%
ESML
- 1D
- -0.47%
- 1M
- 3.86%
- YTD
- 16.26%
- 6M
- 15.99%
- 1Y
- 34.21%
- 3Y*
- 17.27%
- 5Y*
- 7.18%
- 10Y*
- —
MYY vs. ESML - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.13% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% |
ESML iShares ESG Aware MSCI USA Small-Cap ETF | 16.26% | 10.62% | 12.01% | 17.27% | -17.28% | 19.28% | 19.56% | 29.12% | -10.89% |
Correlation
The correlation between MYY and ESML is -0.97, 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 | -0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2018 | -0.97 |
The correlation between MYY and ESML has been stable across timeframes, ranging from -0.98 to -0.97 - a consistent structural relationship.
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Return for Risk
MYY vs. ESML — Risk / Return Rank
MYY
ESML
MYY vs. ESML - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). 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.
| MYY | ESML | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.15 | ||
| Sortino ratioReturn per unit of downside risk | -4.41 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.35 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 3.80 | -4.76 |
| Martin ratioReturn relative to average drawdown | -1.75 | 14.00 | -15.74 |
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
| MYY | ESML | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | 2.07 | -3.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | 0.34 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.53 | 0.46 | -0.99 |
Drawdowns
MYY vs. ESML - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.08%, which is greater than ESML's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for MYY and ESML.
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Drawdown Indicators
| MYY | ESML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.08% | -41.97% | -53.11% |
Max Drawdown (1Y)Largest decline over 1 year | -17.58% | -9.04% | -8.54% |
Max Drawdown (3Y)Largest decline over 3 years | -33.48% | -26.68% | -6.80% |
Max Drawdown (5Y)Largest decline over 5 years | -36.20% | -28.61% | -7.59% |
Max Drawdown (10Y)Largest decline over 10 years | -71.22% | — | — |
Current DrawdownCurrent decline from peak | -95.07% | -0.47% | -94.60% |
Average DrawdownAverage peak-to-trough decline | -72.15% | -8.97% | -63.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.56% | 2.45% | +7.11% |
Volatility
MYY vs. ESML - Volatility Comparison
ProShares Short S&P Mid Cap400 (MYY) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML) have volatilities of 4.41% and 4.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYY | ESML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 4.25% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 11.67% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.59% | 16.66% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 21.23% | -1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.25% | 23.40% | -2.15% |
MYY vs. ESML - Expense Ratio Comparison
MYY has a 0.95% expense ratio, which is higher than ESML's 0.17% expense ratio.
Dividends
MYY vs. ESML - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.45%, more than ESML's 0.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ESML iShares ESG Aware MSCI USA Small-Cap ETF | 0.95% | 1.08% | 1.22% | 1.31% | 1.46% | 0.94% | 0.99% | 1.10% | 1.07% |
MYY ProShares Short S&P Mid Cap400 | 4.45% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% |
Frequently Asked Questions
MYY and ESML have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MYY has higher volatility (4.41%) compared to ESML (4.25%). In terms of maximum drawdown, MYY dropped -95.08% vs ESML's -41.97%.
On 5-year performance, ESML leads with 7.18% vs -5.92% for MYY. On fees, ESML is cheaper at 0.17% per year. On volatility, ESML has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ESML has performed better with a 7.18% return vs -5.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESML is cheaper with a 0.17% expense ratio, compared with 0.95% for MYY.
MYY has the higher dividend yield at 4.45%, compared with 0.95% for ESML.
MYY is categorized as Inverse Equities, while ESML is Small Cap Growth Equities. MYY tracks S&P Mid Cap 400 (-100%), while ESML tracks MSCI USA Small Cap Extended ESG Focus Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for MYY and 0.17% for ESML.
ESML currently has the higher Sharpe Ratio (2.07 vs -1.08), 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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