SBB vs. SVIX
SBB (ProShares Short SmallCap600) and SVIX (-1x Short VIX Futures ETF) are both exchange-traded funds - SBB is a Inverse Equities fund tracking the S&P SmallCap 600 Index (-100%), while SVIX is a Volatility fund tracking the Short VIX Futures Index. Both are passively managed. Over the past 3 years, SBB returned -10.24%/yr vs -2.82%/yr for SVIX. Their -0.63 correlation means they have often moved in opposite directions in the past. SBB charges 0.95%/yr vs 1.47%/yr for SVIX.
Performance
SBB vs. SVIX - Performance Comparison
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Returns By Period
In the year-to-date period, SBB achieves a -18.99% return, which is significantly lower than SVIX's 0.29% return.
SBB
- 1D
- -1.63%
- 1M
- -2.40%
- 6M
- -13.87%
- YTD
- -18.99%
- 1Y
- -25.10%
- 3Y*
- -10.24%
- 5Y*
- -6.51%
- 10Y*
- -11.90%
- ALL TIME*
- -12.49%
SVIX
- 1D
- -0.29%
- 1M
- 2.27%
- 6M
- 6.39%
- YTD
- 0.29%
- 1Y
- 43.11%
- 3Y*
- -2.82%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.82K | $20.79K | $47.74K | |
| $63.36M | $58.73M | $62.64M |
SBB vs. SVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | -18.99% | -3.56% | -3.73% | -10.44% | 12.02% |
SVIX -1x Short VIX Futures ETF | 0.29% | -4.49% | -32.76% | 157.37% | -1.48% |
Correlation
The correlation between SBB and SVIX is -0.60, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.60 |
Correlation (3Y) Balances recent behavior with more history. | -0.60 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | -0.63 |
The correlation between SBB and SVIX has been stable across timeframes, ranging from -0.63 to -0.60 - a consistent structural relationship.
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Return for Risk
SBB vs. SVIX — Risk / Return Rank
SBB
SVIX
SBB vs. SVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and -1x Short VIX Futures ETF (SVIX). 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 | SVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -3.28 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.17 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 1.01 | -2.03 |
| Martin ratioReturn relative to average drawdown | -1.85 | 2.88 | -4.72 |
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Drawdowns
SBB vs. SVIX - Drawdown Comparison
The maximum SBB drawdown since its inception was -96.03%, which is greater than SVIX's maximum drawdown of -79.30%. Use the drawdown chart below to compare losses from any high point for SBB and SVIX.
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Drawdown Indicators
| SBB | SVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.03% | -79.30% | -16.73% |
Max Drawdown (1Y)Largest decline over 1 year | -24.84% | -42.69% | +17.85% |
Max Drawdown (3Y)Largest decline over 3 years | -39.36% | -79.30% | +39.94% |
Max Drawdown (5Y)Largest decline over 5 years | -39.36% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -73.51% | — | — |
Current DrawdownCurrent decline from peak | -96.03% | -52.10% | -43.93% |
Average DrawdownAverage peak-to-trough decline | -74.70% | -32.44% | -42.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.87% | 15.03% | -1.16% |
Volatility
SBB vs. SVIX - Volatility Comparison
The current volatility for ProShares Short SmallCap600 (SBB) is 4.17%, while -1x Short VIX Futures ETF (SVIX) has a volatility of 14.02%. This indicates that SBB experiences smaller price fluctuations and is considered to be less risky than SVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBB | SVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 14.02% | -9.85% |
Volatility (6M)Calculated over the trailing 6-month period | 12.15% | 42.65% | -30.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.68% | 55.85% | -38.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.55% | 65.75% | -44.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.25% | 65.75% | -42.50% |
SBB vs. SVIX - Expense Ratio Comparison
SBB has a 0.95% expense ratio, which is lower than SVIX's 1.47% expense ratio.
Dividends
SBB vs. SVIX - Dividend Comparison
SBB's dividend yield for the trailing twelve months is around 3.84%, while SVIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | 3.84% | 3.44% | 4.86% | 4.64% | 0.31% | 0.00% | 0.04% | 1.20% | 0.17% |
SVIX -1x Short VIX Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SBB and SVIX have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVIX has higher volatility (14.02%) compared to SBB (4.17%). In terms of maximum drawdown, SBB dropped -96.03% vs SVIX's -79.30%.
On 3-year performance, SVIX leads with -2.82% vs -10.24% for SBB. On fees, SBB is cheaper at 0.95% per year. On volatility, SBB has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SVIX has performed better with a -2.82% return vs -10.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SBB is cheaper with a 0.95% expense ratio, compared with 1.47% for SVIX.
SBB has the higher dividend yield at 3.84%, compared with 0.00% for SVIX.
SBB is categorized as Inverse Equities, while SVIX is Volatility. SBB tracks S&P SmallCap 600 Index (-100%), while SVIX tracks Short VIX Futures Index. They also come from different issuers: ProShares and Volatility Shares. Their fees differ too: 0.95% for SBB and 1.47% for SVIX.
SVIX currently has the higher Sharpe Ratio (0.78 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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