SBB vs. YXI

Last updated Jul 16, 2026

SBB (ProShares Short SmallCap600) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - SBB is a Inverse Equities fund tracking the S&P SmallCap 600 Index (-100%), while YXI is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, SBB returned -11.75%/yr vs -7.29%/yr for YXI. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

SBB vs. YXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short SmallCap600 (SBB) and ProShares Short FTSE China 50 (YXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBB achieves a -16.75% return, which is significantly lower than YXI's 12.29% return. Over the past 10 years, SBB has underperformed YXI with an annualized return of -11.75%, while YXI has yielded a comparatively higher -7.29% annualized return.

SBB

• 1D: -0.47%
• 1M: -1.62%
• 6M: -11.93%
• YTD: -16.75%
• 1Y: -22.35%
• 3Y*: -10.00%
• 5Y*: -6.66%
• 10Y*: -11.75%

YXI

• 1D: -0.91%
• 1M: 3.13%
• 6M: 17.42%
• YTD: 12.29%
• 1Y: 9.77%
• 3Y*: -9.43%
• 5Y*: -2.73%
• 10Y*: -7.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SBB vs. YXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBB ProShares Short SmallCap600	-16.75%	-3.56%	-3.73%	-10.44%	13.75%	-25.40%	-26.53%	-18.64%	8.40%	-12.70%
YXI ProShares Short FTSE China 50	12.29%	-22.87%	-25.36%	12.40%	4.78%	13.94%	-17.95%	-14.35%	9.63%	-28.43%

Correlation

The correlation between SBB and YXI is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010	0.44

Return for Risk

SBB vs. YXI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SBB

SBB Risk / Return Rank: 1
SBB Sharpe Ratio Rank: 0
SBB Sortino Ratio Rank: 1
SBB Omega Ratio Rank: 1
SBB Calmar Ratio Rank: 2
SBB Martin Ratio Rank: 1

YXI

YXI Risk / Return Rank: 19
YXI Sharpe Ratio Rank: 18
YXI Sortino Ratio Rank: 18
YXI Omega Ratio Rank: 17
YXI Calmar Ratio Rank: 22
YXI Martin Ratio Rank: 19

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. YXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) and ProShares Short FTSE China 50 (YXI). 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	YXI	Difference
Sharpe ratio: Return per unit of total volatility	-1.27	0.48	-1.75
Sortino ratio: Return per unit of downside risk	-1.73	0.81	-2.54
Omega ratio: Gain probability vs. loss probability	0.80	1.10	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.88	0.86	-1.74
Martin ratio: Return relative to average drawdown	-1.61	1.73	-3.34

SBB vs. YXI - Sharpe Ratio Comparison

The current SBB Sharpe Ratio is -1.27, which is lower than the YXI Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of SBB and YXI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SBB vs. YXI - Drawdown Comparison

The maximum SBB drawdown since its inception was -95.99%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for SBB and YXI.

Drawdown Indicators

	SBB	YXI	Difference
Max Drawdown Largest peak-to-trough decline	-95.99%	-81.15%	-14.84%
Max Drawdown (1Y) Largest decline over 1 year	-25.50%	-11.39%	-14.11%
Max Drawdown (3Y) Largest decline over 3 years	-38.75%	-53.12%	+14.37%
Max Drawdown (5Y) Largest decline over 5 years	-38.75%	-57.65%	+18.90%
Max Drawdown (10Y) Largest decline over 10 years	-73.24%	-61.79%	-11.45%
Current Drawdown Current decline from peak	-95.92%	-77.07%	-18.85%
Average Drawdown Average peak-to-trough decline	-74.64%	-54.45%	-20.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.92%	5.66%	+8.26%

Volatility

SBB vs. YXI - Volatility Comparison

The current volatility for ProShares Short SmallCap600 (SBB) is 4.00%, while ProShares Short FTSE China 50 (YXI) has a volatility of 7.44%. This indicates that SBB experiences smaller price fluctuations and is considered to be less risky than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBB	YXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	7.44%	-3.44%
Volatility (6M) Calculated over the trailing 6-month period	12.35%	15.44%	-3.09%
Volatility (1Y) Calculated over the trailing 1-year period	17.80%	20.65%	-2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	31.47%	-9.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	27.44%	-4.22%

SBB vs. YXI - Expense Ratio Comparison

Both SBB and YXI have an expense ratio of 0.95%.

Dividends

SBB vs. YXI - Dividend Comparison

SBB's dividend yield for the trailing twelve months is around 3.73%, more than YXI's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SBB ProShares Short SmallCap600	3.73%	3.44%	4.86%	4.64%	0.31%	0.00%	0.04%	1.20%	0.17%
YXI ProShares Short FTSE China 50	2.53%	3.60%	4.35%	2.66%	0.27%	0.00%	0.08%	1.01%	0.25%

Frequently Asked Questions

Can I hold both SBB and YXI in my portfolio?

SBB and YXI have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBB or YXI?

YXI has higher volatility (7.44%) compared to SBB (4.00%). In terms of maximum drawdown, SBB dropped -95.99% vs YXI's -81.15%.

Which ETF is better, SBB or YXI?

On 10-year performance, YXI leads with -7.29% vs -11.75% for SBB. Both ETFs have the same 0.95% expense ratio. On volatility, SBB has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBB or YXI?

Over the 10-year period, YXI has performed better with a -7.29% return vs -11.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBB or YXI?

SBB and YXI have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, SBB or YXI?

SBB has the higher dividend yield at 3.73%, compared with 2.53% for YXI.

What is the main difference between SBB and YXI?

SBB is categorized as Inverse Equities, while YXI is China Equities. SBB tracks S&P SmallCap 600 Index (-100%), while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%).

Which has better risk-adjusted returns?

YXI currently has the higher Sharpe Ratio (0.48 vs -1.27), 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.