SBB vs. SQQQ
SBB (ProShares Short SmallCap600) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - SBB is a Inverse Equities fund tracking the S&P SmallCap 600 Index (-100%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, SBB returned -11.75%/yr vs -54.51%/yr for SQQQ. Their 0.63 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
SBB vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SBB achieves a -17.65% return, which is significantly higher than SQQQ's -38.05% return. Over the past 10 years, SBB has outperformed SQQQ with an annualized return of -11.75%, while SQQQ has yielded a comparatively lower -54.51% annualized return.
SBB
- 1D
- -1.67%
- 1M
- -0.79%
- 6M
- -12.26%
- YTD
- -17.65%
- 1Y
- -25.03%
- 3Y*
- -9.75%
- 5Y*
- -6.46%
- 10Y*
- -11.75%
- ALL TIME*
- -12.42%
SQQQ
- 1D
- -5.26%
- 1M
- 3.70%
- 6M
- -34.63%
- YTD
- -38.05%
- 1Y
- -54.82%
- 3Y*
- -52.10%
- 5Y*
- -44.80%
- 10Y*
- -54.51%
- ALL TIME*
- -52.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.11K | $20.58K | $51.01K | |
| $2.77B | $2.43B | $2.72B |
SBB vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | -17.65% | -3.56% | -3.73% | -10.44% | 13.75% | -25.40% | -26.53% | -18.64% | 8.40% | -12.70% |
SQQQ ProShares UltraPro Short QQQ | -38.05% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between SBB and SQQQ is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.63 |
The correlation between SBB and SQQQ has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
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Return for Risk
SBB vs. SQQQ — Risk / Return Rank
SBB
SQQQ
SBB vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.84 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -1.03 | -0.92 | -0.11 |
| Martin ratioReturn relative to average drawdown | -1.82 | -1.65 | -0.17 |
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Drawdowns
SBB vs. SQQQ - Drawdown Comparison
The maximum SBB drawdown since its inception was -95.99%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SBB and SQQQ.
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Drawdown Indicators
| SBB | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.99% | -100.00% | +4.01% |
Max Drawdown (1Y)Largest decline over 1 year | -24.34% | -59.62% | +35.28% |
Max Drawdown (3Y)Largest decline over 3 years | -38.75% | -92.51% | +53.76% |
Max Drawdown (5Y)Largest decline over 5 years | -38.75% | -97.27% | +58.52% |
Max Drawdown (10Y)Largest decline over 10 years | -73.24% | -99.97% | +26.73% |
Current DrawdownCurrent decline from peak | -95.96% | -100.00% | +4.04% |
Average DrawdownAverage peak-to-trough decline | -74.70% | -92.78% | +18.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.95% | 35.25% | -20.30% |
Volatility
SBB vs. SQQQ - Volatility Comparison
The current volatility for ProShares Short SmallCap600 (SBB) is 3.85%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 21.07%. This indicates that SBB experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBB | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.85% | 21.07% | -17.22% |
Volatility (6M)Calculated over the trailing 6-month period | 12.07% | 48.20% | -36.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.65% | 57.95% | -40.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.55% | 68.24% | -46.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.24% | 66.78% | -43.54% |
SBB vs. SQQQ - Expense Ratio Comparison
Both SBB and SQQQ have an expense ratio of 0.95%.
Dividends
SBB vs. SQQQ - Dividend Comparison
SBB's dividend yield for the trailing twelve months is around 3.77%, less than SQQQ's 9.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | 3.77% | 3.44% | 4.86% | 4.64% | 0.31% | 0.00% | 0.04% | 1.20% | 0.17% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 9.64% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
SBB and SQQQ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (21.07%) compared to SBB (3.85%). In terms of maximum drawdown, SBB dropped -95.99% vs SQQQ's -100.00%.
On 10-year performance, SBB leads with -11.75% vs -54.51% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SBB has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SBB has performed better with a -11.75% return vs -54.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SBB and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 9.64%, compared with 3.77% for SBB.
SBB is categorized as Inverse Equities, while SQQQ is Leveraged Equities. SBB tracks S&P SmallCap 600 Index (-100%), while SQQQ tracks NASDAQ-100 Index (-300%).
SQQQ currently has the higher Sharpe Ratio (-0.95 vs -1.43), 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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