SBB vs. ESIX

Last updated Jun 25, 2026

SBB (ProShares Short SmallCap600) and ESIX (SPDR S&P SmallCap 600 ESG ETF) are both exchange-traded funds - SBB is a Inverse Equities fund tracking the S&P SmallCap 600 Index (-100%), while ESIX is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 ESG Index. Both are passively managed. At a correlation of -0.97, they often move in opposite directions. SBB charges 0.95%/yr vs 0.12%/yr for ESIX.

Performance

SBB vs. ESIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short SmallCap600 (SBB) and SPDR S&P SmallCap 600 ESG ETF (ESIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SBB

• 1D: -1.66%
• 1M: -5.49%
• YTD: -16.65%
• 6M: -14.34%
• 1Y: -23.61%
• 3Y*: -11.57%
• 5Y*: -5.42%
• 10Y*: -12.26%

ESIX

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

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

SBB vs. ESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SBB ProShares Short SmallCap600	-16.65%	-3.56%	-3.73%	-10.44%	12.02%
ESIX SPDR S&P SmallCap 600 ESG ETF	10.83%	1.83%	9.66%	17.51%	-13.44%

Correlation

The correlation between SBB and ESIX is -0.90, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.90
Correlation (3Y) Calculated over the trailing 3-year period	-0.96
Correlation (All Time) Calculated using the full available price history since Jan 11, 2022	-0.97

The correlation between SBB and ESIX has been stable across timeframes, ranging from -0.97 to -0.90 - a consistent structural relationship.

Return for Risk

SBB vs. ESIX — 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: 0
SBB Sortino Ratio Rank: 1
SBB Omega Ratio Rank: 1
SBB Calmar Ratio Rank: 1
SBB Martin Ratio Rank: 0

ESIX

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

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. ESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and SPDR S&P SmallCap 600 ESG ETF (ESIX). 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	ESIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.31	—	—
Sortino ratio: Return per unit of downside risk	-1.81	—	—
Omega ratio: Gain probability vs. loss probability	0.79	—	—
Calmar ratio: Return relative to maximum drawdown	-0.97	—	—
Martin ratio: Return relative to average drawdown	-1.81	—	—

Drawdowns

Drawdown Indicators

	SBB	ESIX	Difference
Max Drawdown Largest peak-to-trough decline	-95.91%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-24.44%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-37.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.86%	—	—
Current Drawdown Current decline from peak	-95.91%	—	—
Average Drawdown Average peak-to-trough decline	-74.58%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	13.05%	—	—

Volatility

Volatility by Period

	SBB	ESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.06%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.68%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.28%	—	—

SBB vs. ESIX - Expense Ratio Comparison

SBB has a 0.95% expense ratio, which is higher than ESIX's 0.12% expense ratio.

Dividends

SBB vs. ESIX - Dividend Comparison

SBB's dividend yield for the trailing twelve months is around 3.77%, more than ESIX's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ESIX SPDR S&P SmallCap 600 ESG ETF	1.05%	1.64%	1.65%	1.69%	1.54%	0.00%	0.00%	0.00%	0.00%
SBB ProShares Short SmallCap600	3.77%	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 ESIX in my portfolio?

SBB and ESIX have a correlation of -0.90, 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 ESIX?

On fees, ESIX is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SBB or ESIX?

ESIX is cheaper with a 0.12% expense ratio, compared with 0.95% for SBB.

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

SBB has the higher dividend yield at 3.77%, compared with 1.05% for ESIX.

What is the main difference between SBB and ESIX?

SBB is categorized as Inverse Equities, while ESIX is Small Cap Blend Equities. SBB tracks S&P SmallCap 600 Index (-100%), while ESIX tracks S&P SmallCap 600 ESG Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for SBB and 0.12% for ESIX.