SBB vs. ELIS

Last updated Jun 5, 2026

SBB (ProShares Short SmallCap600) and ELIS (Direxion Daily LLY Bear 1X Shares) are both Inverse Equities funds. SBB is passively managed, while ELIS is actively managed. At a 0.28 correlation, their price movements are largely independent. SBB charges 0.95%/yr vs 0.97%/yr for ELIS.

Performance

SBB vs. ELIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short SmallCap600 (SBB) and Direxion Daily LLY Bear 1X Shares (ELIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SBB

• 1D: -1.22%
• 1M: -1.20%
• YTD: -13.39%
• 6M: -12.19%
• 1Y: -22.27%
• 3Y*: -10.56%
• 5Y*: -4.83%
• 10Y*: -11.72%

ELIS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SBB vs. ELIS - Yearly Performance Comparison

	2026 (YTD)	2025
SBB ProShares Short SmallCap600	-13.39%	-11.04%
ELIS Direxion Daily LLY Bear 1X Shares	11.37%	-29.46%

Correlation

The correlation between SBB and ELIS is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.28

Return for Risk

SBB vs. ELIS — Risk / Return Rank

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

SBB

SBB Risk / Return Rank: 1
SBB Sharpe Ratio Rank: 1
SBB Sortino Ratio Rank: 1
SBB Omega Ratio Rank: 1
SBB Calmar Ratio Rank: 0
SBB Martin Ratio Rank: 0

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.

SBB vs. ELIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and Direxion Daily LLY Bear 1X Shares (ELIS). 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.

	SBB	ELIS	Difference
Sharpe ratio: Return per unit of total volatility	-1.25	—	—
Sortino ratio: Return per unit of downside risk	-1.73	—	—
Omega ratio: Gain probability vs. loss probability	0.81	—	—
Calmar ratio: Return relative to maximum drawdown	-0.99	—	—
Martin ratio: Return relative to average drawdown	-1.69	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SBB	ELIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.25	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	—	—

Drawdowns

Drawdown Indicators

	SBB	ELIS	Difference
Max Drawdown Largest peak-to-trough decline	-95.75%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-22.68%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-72.83%	—	—
Current Drawdown Current decline from peak	-95.75%	—	—
Average Drawdown Average peak-to-trough decline	-74.54%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	13.19%	—	—

Volatility

Volatility by Period

	SBB	ELIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.82%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.68%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.26%	—	—

SBB vs. ELIS - Expense Ratio Comparison

SBB has a 0.95% expense ratio, which is lower than ELIS's 0.97% expense ratio.

Dividends

SBB vs. ELIS - Dividend Comparison

SBB's dividend yield for the trailing twelve months is around 3.63%, less than ELIS's 5.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ELIS Direxion Daily LLY Bear 1X Shares	5.26%	5.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SBB ProShares Short SmallCap600	3.63%	3.44%	4.86%	4.64%	0.31%	0.00%	0.04%	1.20%	0.17%

Frequently Asked Questions

Can I hold both SBB and ELIS in my portfolio?

SBB and ELIS have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SBB or ELIS?

On fees, SBB 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, SBB or ELIS?

SBB is cheaper with a 0.95% expense ratio, compared with 0.97% for ELIS.

Which ETF pays a higher dividend yield, SBB or ELIS?

ELIS has the higher dividend yield at 5.26%, compared with 3.63% for SBB.

What is the main difference between SBB and ELIS?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SBB and 0.97% for ELIS.