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SBB vs. IJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SBB vs. IJR

Last updated Jun 5, 2026

SBB (ProShares Short SmallCap600) and IJR (iShares Core S&P Small-Cap ETF) are both exchange-traded funds - SBB is a Inverse Equities fund tracking the S&P SmallCap 600 Index (-100%), while IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, SBB returned -11.72%/yr vs 10.68%/yr for IJR. At a correlation of -0.92, they often move in opposite directions. SBB charges 0.95%/yr vs 0.06%/yr for IJR.

Performance

SBB vs. IJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short SmallCap600 (SBB) and iShares Core S&P Small-Cap ETF (IJR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SBB achieves a -13.39% return, which is significantly lower than IJR's 16.89% return. Over the past 10 years, SBB has underperformed IJR with an annualized return of -11.72%, while IJR has yielded a comparatively higher 10.68% annualized 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%

IJR

1D
1.31%
1M
1.56%
YTD
16.89%
6M
15.84%
1Y
33.61%
3Y*
15.68%
5Y*
5.91%
10Y*
10.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SBB vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SBB
ProShares Short SmallCap600		-13.39%-3.56%-3.73%-10.44%13.75%-25.40%-26.53%-18.64%8.40%-12.70%
IJR
iShares Core S&P Small-Cap ETF		16.89%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%

Correlation

The correlation between SBB and IJR is -0.98, 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

-0.98

Correlation (3Y)
Calculated over the trailing 3-year period

-0.99

Correlation (5Y)
Calculated over the trailing 5-year period

-0.99

Correlation (10Y)
Calculated over the trailing 10-year period

-0.93

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2007

-0.92

The correlation between SBB and IJR has been stable across timeframes, ranging from -0.99 to -0.92 - 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.

ProShares Short SmallCap600

iShares Core S&P Small-Cap ETF

Often compared with SBB:
SBB vs. SMSTSBB vs. SQQQSBB vs. BRKDSBB vs. SEFSBB vs. EMTYSBB vs. FLYDSBB vs. NOBL
Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJSIJR vs. IJHIJR vs. SCHAIJR vs. VBR

Return for Risk

SBB vs. IJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SBB
SBB Risk / Return Rank: 11
Overall Rank
SBB Sharpe Ratio Rank: 11
Sharpe Ratio Rank
SBB Sortino Ratio Rank: 11
Sortino Ratio Rank
SBB Omega Ratio Rank: 11
Omega Ratio Rank
SBB Calmar Ratio Rank: 00
Calmar Ratio Rank
SBB Martin Ratio Rank: 00
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 6464
Overall Rank
IJR Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 6060
Sortino Ratio Rank
IJR Omega Ratio Rank: 5555
Omega Ratio Rank
IJR Calmar Ratio Rank: 7878
Calmar Ratio Rank
IJR Martin Ratio Rank: 7171
Martin Ratio Rank
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. IJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and iShares Core S&P Small-Cap ETF (IJR). 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.

SBBIJRDifference
Sharpe ratioReturn per unit of total volatility
-1.25
1.93

-3.18

Sortino ratioReturn per unit of downside risk
-1.73
2.78

-4.51

Omega ratioGain probability vs. loss probability

0.81

1.33

-0.53

Calmar ratioReturn relative to maximum drawdown

-0.99

3.89

-4.87

Martin ratioReturn relative to average drawdown

-1.69

12.94

-14.63

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBB vs. IJR - Sharpe Ratio Comparison

The current SBB Sharpe Ratio is -1.25, which is lower than the IJR Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of SBB and IJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SBBIJRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.25

1.93

-3.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.22

0.28

-0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.51

0.47

-0.97

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.51

0.44

-0.94

Drawdowns

SBB vs. IJR - Drawdown Comparison

The maximum SBB drawdown since its inception was -95.75%, which is greater than IJR's maximum drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for SBB and IJR.

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Drawdown Indicators

SBBIJRDifference

Max Drawdown

Largest peak-to-trough decline

-95.75%

-58.15%

-37.60%

Max Drawdown (1Y)

Largest decline over 1 year

-22.68%

-8.68%

-14.00%

Max Drawdown (3Y)

Largest decline over 3 years

-35.17%

-28.02%

-7.15%

Max Drawdown (5Y)

Largest decline over 5 years

-35.17%

-28.02%

-7.15%

Max Drawdown (10Y)

Largest decline over 10 years

-72.83%

-44.36%

-28.47%

Current Drawdown

Current decline from peak

-95.75%

0.00%

-95.75%

Average Drawdown

Average peak-to-trough decline

-74.54%

-9.28%

-65.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.19%

2.60%

+10.59%

Volatility

SBB vs. IJR - Volatility Comparison

ProShares Short SmallCap600 (SBB) and iShares Core S&P Small-Cap ETF (IJR) have volatilities of 4.55% and 4.42%, 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.

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Volatility by Period

SBBIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.55%

4.42%

+0.13%

Volatility (6M)

Calculated over the trailing 6-month period

12.02%

11.71%

+0.31%

Volatility (1Y)

Calculated over the trailing 1-year period

17.82%

17.51%

+0.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.68%

21.41%

+0.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.26%

22.90%

+0.36%

SBB vs. IJR - Expense Ratio Comparison

SBB has a 0.95% expense ratio, which is higher than IJR's 0.06% expense ratio.

Dividends

SBB vs. IJR - Dividend Comparison

SBB's dividend yield for the trailing twelve months is around 3.63%, more than IJR's 1.14% yield.

PositionTTM20252024202320222021202020192018201720162015
IJR
iShares Core S&P Small-Cap ETF		1.14%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%
SBB
ProShares Short SmallCap600		3.63%3.44%4.86%4.64%0.31%0.00%0.04%1.20%0.17%0.00%0.00%0.00%

Frequently Asked Questions

SBB and IJR have a correlation of -0.98, 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 IJR (4.42%). In terms of maximum drawdown, SBB dropped -95.75% vs IJR's -58.15%.

On 10-year performance, IJR leads with 10.68% vs -11.72% for SBB. On fees, IJR is cheaper at 0.06% per year. On volatility, IJR has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IJR has performed better with a 10.68% return vs -11.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJR is cheaper with a 0.06% expense ratio, compared with 0.95% for SBB.

SBB has the higher dividend yield at 3.63%, compared with 1.14% for IJR.

SBB is categorized as Inverse Equities, while IJR is Small Cap Blend Equities. SBB tracks S&P SmallCap 600 Index (-100%), while IJR tracks S&P SmallCap 600 Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SBB and 0.06% for IJR.

IJR currently has the higher Sharpe Ratio (1.93 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.

Portfolio Optimizer

Find the right allocation for SBB and IJR

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