SDD vs. ESIX

Last updated Jul 12, 2026

SDD (ProShares UltraShort SmallCap600) and ESIX (SPDR S&P SmallCap 600 ESG ETF) are both exchange-traded funds - SDD is a Inverse Equities fund tracking the S&P Small Cap 600 (-200%), while ESIX is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 ESG Index. Both are passively managed. At a correlation of -0.97, they often move in opposite directions. SDD charges 0.95%/yr vs 0.12%/yr for ESIX.

Performance

SDD vs. ESIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort SmallCap600 (SDD) and SPDR S&P SmallCap 600 ESG ETF (ESIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SDD

• 1D: 0.02%
• 1M: -2.88%
• 6M: -25.07%
• YTD: -32.06%
• 1Y: -40.76%
• 3Y*: -24.65%
• 5Y*: -17.22%
• 10Y*: -26.98%

ESIX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SDD vs. ESIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SDD ProShares UltraShort SmallCap600	-32.06%	-14.69%	-13.60%	-25.99%	16.91%
ESIX SPDR S&P SmallCap 600 ESG ETF	10.83%	1.83%	9.66%	17.51%	-13.44%

Correlation

The correlation between SDD and ESIX is -0.89, 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	-0.89
Correlation (3Y) Calculated over the trailing 3-year period	-0.96
Correlation (All Time) Calculated using the full available price history since Jan 11, 2022	-0.97

The correlation between SDD and ESIX has been stable across timeframes, ranging from -0.97 to -0.89 - a consistent structural relationship.

Return for Risk

SDD vs. ESIX — Risk / Return Rank

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

SDD

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

ESIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SDD vs. ESIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort SmallCap600 (SDD) and SPDR S&P SmallCap 600 ESG ETF (ESIX). 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.

	SDD	ESIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	—	—
Sortino ratio: Return per unit of downside risk	-1.58	—	—
Omega ratio: Gain probability vs. loss probability	0.82	—	—
Calmar ratio: Return relative to maximum drawdown	-0.83	—	—
Martin ratio: Return relative to average drawdown	-1.45	—	—

Drawdowns

Drawdown Indicators

	SDD	ESIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.94%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-47.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-69.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-71.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-96.11%	—	—
Current Drawdown Current decline from peak	-99.94%	—	—
Average Drawdown Average peak-to-trough decline	-86.96%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	27.29%	—	—

Volatility

Volatility by Period

	SDD	ESIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.96%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.10%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.02%	—	—

SDD vs. ESIX - Expense Ratio Comparison

SDD has a 0.95% expense ratio, which is higher than ESIX's 0.12% expense ratio.

Dividends

SDD vs. ESIX - Dividend Comparison

SDD's dividend yield for the trailing twelve months is around 6.33%, more than ESIX's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ESIX SPDR S&P SmallCap 600 ESG ETF	1.05%	1.64%	1.65%	1.69%	1.54%	0.00%	0.00%	0.00%	0.00%
SDD ProShares UltraShort SmallCap600	6.33%	5.07%	4.34%	3.84%	0.33%	0.00%	0.00%	1.20%	0.52%

Frequently Asked Questions

Can I hold both SDD and ESIX in my portfolio?

SDD and ESIX have a correlation of -0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SDD or ESIX?

On fees, ESIX is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SDD or ESIX?

ESIX is cheaper with a 0.12% expense ratio, compared with 0.95% for SDD.

Which ETF pays a higher dividend yield, SDD or ESIX?

SDD has the higher dividend yield at 6.33%, compared with 1.05% for ESIX.

What is the main difference between SDD and ESIX?

SDD is categorized as Inverse Equities, while ESIX is Small Cap Blend Equities. SDD tracks S&P Small Cap 600 (-200%), while ESIX tracks S&P SmallCap 600 ESG Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for SDD and 0.12% for ESIX.