SBB vs. ESIX
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. Over the past 3 years, SBB returned -10.56%/yr vs 14.39%/yr for ESIX. At a correlation of -0.98, they often move in opposite directions. SBB charges 0.95%/yr vs 0.12%/yr for ESIX.
Performance
SBB vs. ESIX - Performance Comparison
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Returns By Period
In the year-to-date period, SBB achieves a -13.39% return, which is significantly lower than ESIX's 10.83% return.
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%
ESIX
- 1D
- -1.16%
- 1M
- -1.86%
- YTD
- 10.83%
- 6M
- 10.28%
- 1Y
- 22.55%
- 3Y*
- 14.39%
- 5Y*
- —
- 10Y*
- —
SBB vs. ESIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | -13.39% | -3.56% | -3.73% | -10.44% | 12.77% |
ESIX SPDR S&P SmallCap 600 ESG ETF | 10.83% | 1.83% | 9.66% | 17.51% | -14.62% |
Correlation
The correlation between SBB and ESIX is -0.94, 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 | -0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2022 | -0.98 |
The correlation between SBB and ESIX has been stable across timeframes, ranging from -0.98 to -0.94 - a consistent structural relationship.
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Return for Risk
SBB vs. ESIX — Risk / Return Rank
SBB
ESIX
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.
| SBB | ESIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.57 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.21 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 2.08 | -3.07 |
| Martin ratioReturn relative to average drawdown | -1.69 | 6.57 | -8.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SBB | ESIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.25 | 1.20 | -2.46 |
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 | 0.24 | -0.75 |
Drawdowns
SBB vs. ESIX - Drawdown Comparison
The maximum SBB drawdown since its inception was -95.75%, which is greater than ESIX's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for SBB and ESIX.
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Drawdown Indicators
| SBB | ESIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.75% | -27.56% | -68.19% |
Max Drawdown (1Y)Largest decline over 1 year | -22.68% | -10.18% | -12.50% |
Max Drawdown (3Y)Largest decline over 3 years | -35.17% | -27.56% | -7.61% |
Max Drawdown (5Y)Largest decline over 5 years | -35.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -72.83% | — | — |
Current DrawdownCurrent decline from peak | -95.75% | -2.42% | -93.33% |
Average DrawdownAverage peak-to-trough decline | -74.54% | -8.59% | -65.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 3.22% | +9.97% |
Volatility
SBB vs. ESIX - Volatility Comparison
ProShares Short SmallCap600 (SBB) has a higher volatility of 4.55% compared to SPDR S&P SmallCap 600 ESG ETF (ESIX) at 4.19%. This indicates that SBB's price experiences larger fluctuations and is considered to be riskier than ESIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBB | ESIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 4.19% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 12.02% | 12.40% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.82% | 17.99% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.68% | 21.53% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.26% | 21.53% | +1.73% |
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 3.63%, more than ESIX's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ESIX SPDR S&P SmallCap 600 ESG ETF | 1.45% | 1.64% | 1.65% | 1.69% | 1.54% | 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
SBB and ESIX have a correlation of -0.94, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBB has higher volatility (4.55%) compared to ESIX (4.19%). In terms of maximum drawdown, SBB dropped -95.75% vs ESIX's -27.56%.
On 3-year performance, ESIX leads with 14.39% vs -10.56% for SBB. On fees, ESIX is cheaper at 0.12% per year. On volatility, ESIX has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ESIX has performed better with a 14.39% return vs -10.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESIX is cheaper with a 0.12% expense ratio, compared with 0.95% for SBB.
SBB has the higher dividend yield at 3.63%, compared with 1.45% for 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.
ESIX currently has the higher Sharpe Ratio (1.20 vs -1.25), 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.
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