QBTZ vs. SH
QBTZ (Defiance Daily Target 2X Short QBTS ETF) and SH (ProShares Short S&P500) are both Inverse Equities funds. QBTZ is actively managed, while SH is passively managed. Their 0.52 correlation means they have sometimes moved together and sometimes differently. QBTZ charges 1.29%/yr vs 0.89%/yr for SH.
Performance
QBTZ vs. SH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QBTZ achieves a -84.61% return, which is significantly lower than SH's -6.65% return.
QBTZ
- 1D
- -1.12%
- 1M
- 5.00%
- 6M
- -87.87%
- YTD
- -84.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SH
- 1D
- -0.69%
- 1M
- 0.12%
- 6M
- -5.73%
- YTD
- -6.65%
- 1Y
- -13.19%
- 3Y*
- -10.94%
- 5Y*
- -8.01%
- 10Y*
- -12.47%
- ALL TIME*
- -11.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.48M | $12.89M | $20.27M | |
| $271.72M | $244.09M | $301.56M |
QBTZ vs. SH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBTZ Defiance Daily Target 2X Short QBTS ETF | -84.61% | -47.53% |
SH ProShares Short S&P500 | -6.65% | -0.49% |
Correlation
The correlation between QBTZ and SH is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 7, 2025 | 0.52 |
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
QBTZ vs. SH — Risk / Return Rank
QBTZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SH
QBTZ vs. SH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short QBTS ETF (QBTZ) 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.
| QBTZ | SH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.86 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.73 | — |
| Martin ratioReturn relative to average drawdown | — | -1.30 | — |
Loading charts...
Drawdowns
QBTZ vs. SH - Drawdown Comparison
The maximum QBTZ drawdown since its inception was -96.03%, roughly equal to the maximum SH drawdown of -94.66%. Use the drawdown chart below to compare losses from any high point for QBTZ and SH.
Loading charts...
Drawdown Indicators
| QBTZ | SH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.03% | -94.66% | -1.37% |
Max Drawdown (1Y)Largest decline over 1 year | — | -16.06% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -38.82% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -44.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.80% | — |
Current DrawdownCurrent decline from peak | -94.65% | -94.54% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -62.87% | -67.93% | +5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 9.03% | — |
Volatility
QBTZ vs. SH - Volatility Comparison
Loading charts...
Volatility by Period
| QBTZ | SH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.51% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.08% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 230.14% | 12.81% | +217.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 230.14% | 16.96% | +213.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 230.14% | 18.02% | +212.12% |
QBTZ vs. SH - Expense Ratio Comparison
QBTZ has a 1.29% expense ratio, which is higher than SH's 0.89% expense ratio.
Dividends
QBTZ vs. SH - Dividend Comparison
QBTZ has not paid dividends to shareholders, while SH's dividend yield for the trailing twelve months is around 4.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QBTZ Defiance Daily Target 2X Short QBTS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SH ProShares Short S&P500 | 4.19% | 4.49% | 6.20% | 5.37% | 1.08% | 0.00% | 0.16% | 1.76% | 1.01% | 0.06% |
Frequently Asked Questions
QBTZ and SH have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SH is cheaper at 0.89% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SH is cheaper with a 0.89% expense ratio, compared with 1.29% for QBTZ.
SH has the higher dividend yield at 4.19%, compared with 0.00% for QBTZ.
They also come from different issuers: Defiance and ProShares. Their fees differ too: 1.29% for QBTZ and 0.89% for SH.
Find the right allocation for QBTZ 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