SBB vs. DOG
SBB (ProShares Short SmallCap600) and DOG (ProShares Short Dow30) are both Inverse Equities funds from ProShares - SBB tracks the S&P SmallCap 600 Index (-100%) while DOG tracks the DJ Industrial Average (-100%). Both are passively managed. Over the past 10 years, SBB returned -11.90%/yr vs -11.28%/yr for DOG. Their 0.75 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
SBB vs. DOG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SBB achieves a -18.99% return, which is significantly lower than DOG's -9.55% return. Over the past 10 years, SBB has underperformed DOG with an annualized return of -11.90%, while DOG has yielded a comparatively higher -11.28% annualized return.
SBB
- 1D
- -1.63%
- 1M
- -2.40%
- 6M
- -13.87%
- YTD
- -18.99%
- 1Y
- -25.10%
- 3Y*
- -10.24%
- 5Y*
- -6.51%
- 10Y*
- -11.90%
- ALL TIME*
- -12.49%
DOG
- 1D
- -1.78%
- 1M
- -2.01%
- 6M
- -7.74%
- YTD
- -9.55%
- 1Y
- -15.27%
- 3Y*
- -9.29%
- 5Y*
- -6.15%
- 10Y*
- -11.28%
- ALL TIME*
- -10.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $44.96M | $38.77M | $42.13M | |
| $22.82K | $20.79K | $47.74K |
SBB vs. DOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | -18.99% | -3.56% | -3.73% | -10.44% | 13.75% | -25.40% | -26.53% | -18.64% | 8.40% | -12.70% |
DOG ProShares Short Dow30 | -9.55% | -8.40% | -5.62% | -7.05% | 5.67% | -19.21% | -20.45% | -18.43% | 3.55% | -21.51% |
Correlation
The correlation between SBB and DOG is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2007 | 0.75 |
The correlation between SBB and DOG has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.
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
SBB vs. DOG — Risk / Return Rank
SBB
DOG
SBB vs. DOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and ProShares Short Dow30 (DOG). 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.
| SBB | DOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.81 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | -0.97 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.85 | -1.90 | +0.06 |
Loading charts...
Drawdowns
SBB vs. DOG - Drawdown Comparison
The maximum SBB drawdown since its inception was -96.03%, roughly equal to the maximum DOG drawdown of -93.02%. Use the drawdown chart below to compare losses from any high point for SBB and DOG.
Loading charts...
Drawdown Indicators
| SBB | DOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.03% | -93.02% | -3.01% |
Max Drawdown (1Y)Largest decline over 1 year | -24.84% | -15.77% | -9.07% |
Max Drawdown (3Y)Largest decline over 3 years | -39.36% | -32.03% | -7.33% |
Max Drawdown (5Y)Largest decline over 5 years | -39.36% | -37.01% | -2.35% |
Max Drawdown (10Y)Largest decline over 10 years | -73.51% | -70.57% | -2.94% |
Current DrawdownCurrent decline from peak | -96.03% | -93.02% | -3.01% |
Average DrawdownAverage peak-to-trough decline | -74.70% | -66.60% | -8.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.87% | 8.04% | +5.83% |
Volatility
SBB vs. DOG - Volatility Comparison
ProShares Short SmallCap600 (SBB) and ProShares Short Dow30 (DOG) have volatilities of 4.17% and 4.20%, 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.
Loading charts...
Volatility by Period
| SBB | DOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 4.20% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 12.15% | 10.11% | +2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.68% | 12.66% | +5.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.55% | 14.86% | +6.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.25% | 17.51% | +5.74% |
SBB vs. DOG - Expense Ratio Comparison
Both SBB and DOG have an expense ratio of 0.95%.
Dividends
SBB vs. DOG - Dividend Comparison
SBB's dividend yield for the trailing twelve months is around 3.84%, more than DOG's 3.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DOG ProShares Short Dow30 | 3.49% | 3.65% | 5.72% | 4.54% | 0.41% | 0.00% | 0.14% | 1.54% | 0.86% | 0.04% |
SBB ProShares Short SmallCap600 | 3.84% | 3.44% | 4.86% | 4.64% | 0.31% | 0.00% | 0.04% | 1.20% | 0.17% | 0.00% |
Frequently Asked Questions
SBB and DOG have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DOG has higher volatility (4.20%) compared to SBB (4.17%). In terms of maximum drawdown, SBB dropped -96.03% vs DOG's -93.02%.
On 10-year performance, DOG leads with -11.28% vs -11.90% for SBB. Both ETFs have the same 0.95% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DOG has performed better with a -11.28% return vs -11.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SBB and DOG have the same expense ratio: 0.95% per year.
SBB has the higher dividend yield at 3.84%, compared with 3.49% for DOG.
SBB tracks S&P SmallCap 600 Index (-100%), while DOG tracks DJ Industrial Average (-100%).
DOG currently has the higher Sharpe Ratio (-1.22 vs -1.43), 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 SBB and DOG
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