MYY vs. SEF
MYY (ProShares Short S&P Mid Cap400) and SEF (ProShares Short Financials) are both Inverse Equities funds from ProShares - MYY tracks the S&P Mid Cap 400 (-100%) while SEF tracks the Dow Jones U.S. Financials Index (-100%). Both are passively managed. Over the past 10 years, MYY returned -11.12%/yr vs -11.50%/yr for SEF. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.
Performance
MYY vs. SEF - 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 SEF's 8.89% return. Both investments have delivered pretty close results over the past 10 years, with MYY having a -11.12% annualized return and SEF not far behind at -11.50%.
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%
SEF
- 1D
- 1.10%
- 1M
- 1.81%
- YTD
- 8.89%
- 6M
- 6.43%
- 1Y
- 3.73%
- 3Y*
- -10.34%
- 5Y*
- -5.21%
- 10Y*
- -11.50%
MYY vs. SEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -14.63% |
SEF ProShares Short Financials | 8.89% | -9.82% | -17.81% | -8.81% | 11.85% | -27.02% | -16.93% | -23.51% | 10.34% | -17.12% |
Correlation
The correlation between MYY and SEF is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2008 | 0.83 |
The correlation between MYY and SEF shifts across timeframes, from 0.66 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MYY vs. SEF — Risk / Return Rank
MYY
SEF
MYY vs. SEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and ProShares Short Financials (SEF). 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 | SEF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.08 | 0.26 | -1.34 |
Sortino ratioReturn per unit of downside risk | -1.45 | 0.50 | -1.95 |
Omega ratioGain probability vs. loss probability | 0.83 | 1.06 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | -0.95 | 0.39 | -1.34 |
Martin ratioReturn relative to average drawdown | -1.75 | 0.73 | -2.47 |
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 | SEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | 0.26 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | -0.29 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.52 | -0.56 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.53 | -0.49 | -0.04 |
Drawdowns
MYY vs. SEF - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.08%, roughly equal to the maximum SEF drawdown of -96.51%. Use the drawdown chart below to compare losses from any high point for MYY and SEF.
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Drawdown Indicators
| MYY | SEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.08% | -96.51% | +1.43% |
Max Drawdown (1Y)Largest decline over 1 year | -17.58% | -9.72% | -7.86% |
Max Drawdown (3Y)Largest decline over 3 years | -33.48% | -39.40% | +5.92% |
Max Drawdown (5Y)Largest decline over 5 years | -36.20% | -41.62% | +5.42% |
Max Drawdown (10Y)Largest decline over 10 years | -71.22% | -75.66% | +4.44% |
Current DrawdownCurrent decline from peak | -95.07% | -96.09% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -72.15% | -82.72% | +10.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.56% | 5.14% | +4.42% |
Volatility
MYY vs. SEF - Volatility Comparison
ProShares Short S&P Mid Cap400 (MYY) has a higher volatility of 4.41% compared to ProShares Short Financials (SEF) at 3.01%. This indicates that MYY's price experiences larger fluctuations and is considered to be riskier than SEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYY | SEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 3.01% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 10.85% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.59% | 14.34% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 17.96% | +1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.25% | 20.52% | +0.73% |
MYY vs. SEF - Expense Ratio Comparison
Both MYY and SEF have an expense ratio of 0.95%.
Dividends
MYY vs. SEF - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.45%, more than SEF's 3.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SEF ProShares Short Financials | 3.35% | 4.33% | 5.72% | 4.43% | 0.39% | 0.00% | 0.12% | 1.25% | 0.41% |
Frequently Asked Questions
MYY and SEF have a correlation of 0.66, 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 SEF (3.01%). In terms of maximum drawdown, MYY dropped -95.08% vs SEF's -96.51%.
On 10-year performance, MYY leads with -11.12% vs -11.50% for SEF. Both ETFs have the same 0.95% expense ratio. On volatility, SEF has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MYY has performed better with a -11.12% return vs -11.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MYY and SEF have the same expense ratio: 0.95% per year.
MYY has the higher dividend yield at 4.45%, compared with 3.35% for SEF.
MYY tracks S&P Mid Cap 400 (-100%), while SEF tracks Dow Jones U.S. Financials Index (-100%).
SEF currently has the higher Sharpe Ratio (0.26 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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