SBB vs. SVIX
SBB (ProShares Short SmallCap600) and SVIX (Volatility Shares -1x Short VIX Futures ETF) are both Inverse Equities funds. Over the past 3 years, SBB returned -10.56%/yr vs -0.23%/yr for SVIX. At a correlation of -0.63, they often move in opposite directions. 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 -13.39% return, which is significantly lower than SVIX's -5.20% 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%
SVIX
- 1D
- 3.24%
- 1M
- 20.39%
- YTD
- -5.20%
- 6M
- 9.90%
- 1Y
- 56.79%
- 3Y*
- -0.23%
- 5Y*
- —
- 10Y*
- —
SBB vs. SVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | -13.39% | -3.56% | -3.73% | -10.44% | 9.97% |
SVIX Volatility Shares -1x Short VIX Futures ETF | -5.20% | -4.49% | -32.76% | 157.37% | -0.88% |
Correlation
The correlation between SBB and SVIX is -0.60, 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 | -0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2022 | -0.63 |
The correlation between SBB and SVIX has been stable across timeframes, ranging from -0.63 to -0.58 - 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 Volatility Shares -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.
| SBB | SVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.27 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.22 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 1.34 | -2.32 |
| Martin ratioReturn relative to average drawdown | -1.69 | 3.86 | -5.55 |
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 | SVIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.25 | 1.04 | -2.30 |
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 | 0.17 | -0.67 |
Drawdowns
SBB vs. SVIX - Drawdown Comparison
The maximum SBB drawdown since its inception was -95.75%, 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 | -95.75% | -79.30% | -16.45% |
Max Drawdown (1Y)Largest decline over 1 year | -22.68% | -42.69% | +20.01% |
Max Drawdown (3Y)Largest decline over 3 years | -35.17% | -79.30% | +44.13% |
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% | -54.72% | -41.03% |
Average DrawdownAverage peak-to-trough decline | -74.54% | -31.62% | -42.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 14.76% | -1.57% |
Volatility
SBB vs. SVIX - Volatility Comparison
The current volatility for ProShares Short SmallCap600 (SBB) is 4.55%, while Volatility Shares -1x Short VIX Futures ETF (SVIX) has a volatility of 7.75%. 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 | 4.55% | 7.75% | -3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 12.02% | 41.14% | -29.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.82% | 54.79% | -36.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.68% | 66.26% | -44.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.26% | 66.26% | -43.00% |
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 3.63%, while SVIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | 3.63% | 3.44% | 4.86% | 4.64% | 0.31% | 0.00% | 0.04% | 1.20% | 0.17% |
SVIX Volatility Shares -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 (7.75%) compared to SBB (4.55%). In terms of maximum drawdown, SBB dropped -95.75% vs SVIX's -79.30%.
On 3-year performance, SVIX leads with -0.23% vs -10.56% for SBB. On fees, SBB is cheaper at 0.95% per year. On volatility, SBB has been the lower-risk option at 4.55%. 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 -0.23% return vs -10.56%. 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 3.63%, compared with 0.00% for SVIX.
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 (1.04 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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