NBIZ vs. SEF

Last updated Jun 6, 2026

NBIZ (Tradr 2X Short NBIS Daily ETF) and SEF (ProShares Short Financials) are both Inverse Equities funds - NBIZ tracks the Nebius Group N.V. (NBIS) while SEF tracks the Dow Jones U.S. Financials Index (-100%). Both are passively managed. At a 0.10 correlation, their price movements are largely independent. NBIZ charges 1.49%/yr vs 0.95%/yr for SEF.

Performance

NBIZ vs. SEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short NBIS Daily ETF (NBIZ) and ProShares Short Financials (SEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NBIZ

• 1D: 24.45%
• 1M: -49.56%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SEF

• 1D: -0.08%
• 1M: -0.46%
• YTD: 6.07%
• 6M: 3.83%
• 1Y: 0.06%
• 3Y*: -10.89%
• 5Y*: -5.70%
• 10Y*: -11.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NBIZ vs. SEF - Yearly Performance Comparison

	2026 (YTD)
NBIZ Tradr 2X Short NBIS Daily ETF	-95.64%
SEF ProShares Short Financials	3.88%

Correlation

The correlation between NBIZ and SEF is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 23, 2026	0.10

Return for Risk

NBIZ vs. SEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SEF

SEF Risk / Return Rank: 9
SEF Sharpe Ratio Rank: 9
SEF Sortino Ratio Rank: 9
SEF Omega Ratio Rank: 9
SEF Calmar Ratio Rank: 9
SEF Martin Ratio Rank: 9

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.

NBIZ vs. SEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short NBIS Daily ETF (NBIZ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	NBIZ	SEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.00	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.32	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	-0.49	+0.03

Drawdowns

NBIZ vs. SEF - Drawdown Comparison

The maximum NBIZ drawdown since its inception was -97.84%, roughly equal to the maximum SEF drawdown of -96.51%. Use the drawdown chart below to compare losses from any high point for NBIZ and SEF.

Drawdown Indicators

	NBIZ	SEF	Difference
Max Drawdown Largest peak-to-trough decline	-97.84%	-96.51%	-1.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-39.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.66%	—
Current Drawdown Current decline from peak	-97.16%	-96.19%	-0.97%
Average Drawdown Average peak-to-trough decline	-69.74%	-82.72%	+12.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.19%	—

Volatility

Volatility by Period

	NBIZ	SEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.98%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	218.90%	14.54%	+204.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	218.90%	17.99%	+200.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	218.90%	20.53%	+198.37%

NBIZ vs. SEF - Expense Ratio Comparison

NBIZ has a 1.49% expense ratio, which is higher than SEF's 0.95% expense ratio.

Dividends

NBIZ vs. SEF - Dividend Comparison

NBIZ has not paid dividends to shareholders, while SEF's dividend yield for the trailing twelve months is around 3.44%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
NBIZ Tradr 2X Short NBIS Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SEF ProShares Short Financials	3.44%	4.33%	5.72%	4.43%	0.39%	0.00%	0.12%	1.25%	0.41%

Frequently Asked Questions

Can I hold both NBIZ and SEF in my portfolio?

NBIZ and SEF have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBIZ or SEF?

On fees, SEF is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBIZ or SEF?

SEF is cheaper with a 0.95% expense ratio, compared with 1.49% for NBIZ.

Which ETF pays a higher dividend yield, NBIZ or SEF?

SEF has the higher dividend yield at 3.44%, compared with 0.00% for NBIZ.

What is the main difference between NBIZ and SEF?

NBIZ tracks Nebius Group N.V. (NBIS), while SEF tracks Dow Jones U.S. Financials Index (-100%). They also come from different issuers: Tradr and ProShares. Their fees differ too: 1.49% for NBIZ and 0.95% for SEF.