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SBB vs. IJS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SBB vs. IJS

Last updated Jun 5, 2026

SBB (ProShares Short SmallCap600) and IJS (iShares S&P SmallCap 600 Value ETF) are both exchange-traded funds - SBB is a Inverse Equities fund tracking the S&P SmallCap 600 Index (-100%), while IJS is a Small Cap Value Equities fund tracking the S&P SmallCap 600/Citigroup Value Index. Both are passively managed. Over the past 10 years, SBB returned -11.72%/yr vs 10.07%/yr for IJS. At a correlation of -0.91, they often move in opposite directions. SBB charges 0.95%/yr vs 0.25%/yr for IJS.

Performance

SBB vs. IJS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short SmallCap600 (SBB) and iShares S&P SmallCap 600 Value ETF (IJS). 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 IJS's 16.70% return. Over the past 10 years, SBB has underperformed IJS with an annualized return of -11.72%, while IJS has yielded a comparatively higher 10.07% 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%

IJS

1D
1.37%
1M
2.47%
YTD
16.70%
6M
16.73%
1Y
39.28%
3Y*
15.35%
5Y*
5.84%
10Y*
10.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SBB vs. IJS - 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%
IJS
iShares S&P SmallCap 600 Value ETF		16.70%6.54%7.33%14.68%-11.34%30.53%2.63%24.11%-12.86%11.35%

Correlation

The correlation between SBB and IJS is -0.97, 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

-0.97

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

-0.97

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

-0.97

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

-0.91

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

-0.91

The correlation between SBB and IJS has been stable across timeframes, ranging from -0.97 to -0.91 - 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 S&P SmallCap 600 Value ETF

Often compared with SBB:
SBB vs. SMSTSBB vs. SQQQSBB vs. BRKDSBB vs. SEFSBB vs. EMTYSBB vs. FLYDSBB vs. NOBL
Often compared with IJS:
IJS vs. IJRIJS vs. AVUVIJS vs. VBRIJS vs. VIOVIJS vs. IWNIJS vs. VOOIJS vs. IWM

Return for Risk

SBB vs. IJS — 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
IJS
IJS Risk / Return Rank: 7171
Overall Rank
IJS Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IJS Sortino Ratio Rank: 6868
Sortino Ratio Rank
IJS Omega Ratio Rank: 6262
Omega Ratio Rank
IJS Calmar Ratio Rank: 8282
Calmar Ratio Rank
IJS Martin Ratio Rank: 7474
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. IJS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and iShares S&P SmallCap 600 Value ETF (IJS). 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.

SBBIJSDifference
Sharpe ratioReturn per unit of total volatility
-1.25
2.16

-3.42

Sortino ratioReturn per unit of downside risk
-1.73
3.07

-4.79

Omega ratioGain probability vs. loss probability

0.81

1.37

-0.57

Calmar ratioReturn relative to maximum drawdown

-0.99

4.25

-5.24

Martin ratioReturn relative to average drawdown

-1.69

13.91

-15.60

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. IJS - Sharpe Ratio Comparison

The current SBB Sharpe Ratio is -1.25, which is lower than the IJS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of SBB and IJS, 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

SBBIJSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.25

2.16

-3.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.22

0.27

-0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.51

0.43

-0.93

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.51

0.40

-0.91

Drawdowns

SBB vs. IJS - Drawdown Comparison

The maximum SBB drawdown since its inception was -95.75%, which is greater than IJS's maximum drawdown of -60.11%. Use the drawdown chart below to compare losses from any high point for SBB and IJS.

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Drawdown Indicators

SBBIJSDifference

Max Drawdown

Largest peak-to-trough decline

-95.75%

-60.11%

-35.64%

Max Drawdown (1Y)

Largest decline over 1 year

-22.68%

-9.28%

-13.40%

Max Drawdown (3Y)

Largest decline over 3 years

-35.17%

-28.65%

-6.52%

Max Drawdown (5Y)

Largest decline over 5 years

-35.17%

-28.65%

-6.52%

Max Drawdown (10Y)

Largest decline over 10 years

-72.83%

-47.68%

-25.15%

Current Drawdown

Current decline from peak

-95.75%

0.00%

-95.75%

Average Drawdown

Average peak-to-trough decline

-74.54%

-9.89%

-64.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.19%

2.83%

+10.36%

Volatility

SBB vs. IJS - Volatility Comparison

ProShares Short SmallCap600 (SBB) and iShares S&P SmallCap 600 Value ETF (IJS) have volatilities of 4.55% and 4.47%, 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

SBBIJSDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.55%

4.47%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

12.02%

11.58%

+0.44%

Volatility (1Y)

Calculated over the trailing 1-year period

17.82%

18.27%

-0.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.68%

21.99%

-0.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.26%

23.60%

-0.34%

SBB vs. IJS - Expense Ratio Comparison

SBB has a 0.95% expense ratio, which is higher than IJS's 0.25% expense ratio.

Dividends

SBB vs. IJS - Dividend Comparison

SBB's dividend yield for the trailing twelve months is around 3.63%, more than IJS's 1.27% yield.

PositionTTM20252024202320222021202020192018201720162015
IJS
iShares S&P SmallCap 600 Value ETF		1.27%1.62%1.78%1.42%1.46%1.52%1.00%1.66%1.75%1.41%1.22%1.59%
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 IJS have a correlation of -0.97, 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 IJS (4.47%). In terms of maximum drawdown, SBB dropped -95.75% vs IJS's -60.11%.

On 10-year performance, IJS leads with 10.07% vs -11.72% for SBB. On fees, IJS is cheaper at 0.25% per year. 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, IJS has performed better with a 10.07% return vs -11.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJS is cheaper with a 0.25% expense ratio, compared with 0.95% for SBB.

SBB has the higher dividend yield at 3.63%, compared with 1.27% for IJS.

SBB is categorized as Inverse Equities, while IJS is Small Cap Value Equities. SBB tracks S&P SmallCap 600 Index (-100%), while IJS tracks S&P SmallCap 600/Citigroup Value Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SBB and 0.25% for IJS.

IJS currently has the higher Sharpe Ratio (2.16 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

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