MYY vs. SH
MYY (ProShares Short S&P Mid Cap400) and SH (ProShares Short S&P500) are both Inverse Equities funds from ProShares - MYY tracks the S&P Mid Cap 400 (-100%) while SH tracks the S&P 500 (-100%). Both are passively managed. Over the past 10 years, MYY returned -11.12%/yr vs -12.89%/yr for SH. Their correlation of 0.87 suggests significant overlap in exposure. MYY charges 0.95%/yr vs 0.90%/yr for SH.
Performance
MYY vs. SH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MYY achieves a -11.13% return, which is significantly lower than SH's -8.00% return. Over the past 10 years, MYY has outperformed SH with an annualized return of -11.12%, while SH has yielded a comparatively lower -12.89% annualized 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%
SH
- 1D
- 0.70%
- 1M
- -4.35%
- YTD
- -8.00%
- 6M
- -7.59%
- 1Y
- -17.23%
- 3Y*
- -13.02%
- 5Y*
- -9.07%
- 10Y*
- -12.89%
MYY vs. SH - 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% |
SH ProShares Short S&P500 | -8.00% | -11.35% | -13.52% | -14.80% | 18.98% | -24.21% | -25.09% | -22.12% | 4.93% | -17.36% |
Correlation
The correlation between MYY and SH is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006 | 0.87 |
The correlation between MYY and SH shifts across timeframes, from 0.76 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MYY vs. SH — Risk / Return Rank
MYY
SH
MYY vs. SH - 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 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.
| MYY | SH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.08 | -1.47 | +0.39 |
Sortino ratioReturn per unit of downside risk | -1.45 | -2.10 | +0.65 |
Omega ratioGain probability vs. loss probability | 0.83 | 0.77 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.95 | -0.01 |
Martin ratioReturn relative to average drawdown | -1.75 | -1.75 | 0.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MYY | SH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.08 | -1.47 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | -0.54 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.52 | -0.72 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.53 | -0.59 | +0.06 |
Drawdowns
MYY vs. SH - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.08%, roughly equal to the maximum SH drawdown of -94.66%. Use the drawdown chart below to compare losses from any high point for MYY and SH.
Loading charts...
Drawdown Indicators
| MYY | SH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.08% | -94.66% | -0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -17.58% | -18.28% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -33.48% | -38.82% | +5.34% |
Max Drawdown (5Y)Largest decline over 5 years | -36.20% | -44.53% | +8.33% |
Max Drawdown (10Y)Largest decline over 10 years | -71.22% | -76.12% | +4.90% |
Current DrawdownCurrent decline from peak | -95.07% | -94.62% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -72.15% | -67.73% | -4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.56% | 9.89% | -0.33% |
Volatility
MYY vs. SH - Volatility Comparison
ProShares Short S&P Mid Cap400 (MYY) has a higher volatility of 4.41% compared to ProShares Short S&P500 (SH) at 2.84%. This indicates that MYY'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.
Loading charts...
Volatility by Period
| MYY | SH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 2.84% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 8.91% | +2.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.59% | 11.80% | +3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 16.85% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.25% | 18.01% | +3.24% |
MYY vs. SH - Expense Ratio Comparison
MYY has a 0.95% expense ratio, which is higher than SH's 0.90% expense ratio.
Dividends
MYY vs. SH - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.45%, less than SH's 4.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SH ProShares Short S&P500 | 4.51% | 4.49% | 6.20% | 5.37% | 1.08% | 0.00% | 0.16% | 1.76% | 1.01% | 0.06% |
Frequently Asked Questions
MYY and SH have a correlation of 0.76, 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 SH (2.84%). In terms of maximum drawdown, MYY dropped -95.08% vs SH's -94.66%.
On 10-year performance, MYY leads with -11.12% vs -12.89% for SH. On fees, SH is cheaper at 0.90% per year. On volatility, SH has been the lower-risk option at 2.84%. 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 -12.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SH is cheaper with a 0.90% expense ratio, compared with 0.95% for MYY.
SH has the higher dividend yield at 4.51%, compared with 4.45% for MYY.
MYY tracks S&P Mid Cap 400 (-100%), while SH tracks S&P 500 (-100%). Their fees differ too: 0.95% for MYY and 0.90% for SH.
MYY currently has the higher Sharpe Ratio (-1.08 vs -1.47), 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.
Find the right allocation for MYY and SH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer