SH vs. SDS
Compare and contrast key facts about ProShares Short S&P500 (SH) and ProShares UltraShort S&P500 (SDS).
SH and SDS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SH is a passively managed fund by ProShares that tracks the performance of the S&P 500 (-100%). It was launched on Jun 19, 2006. SDS is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (-200%). It was launched on Jul 11, 2006. Both SH and SDS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SH or SDS.
Key characteristics
| SH | SDS | |
|---|---|---|
| YTD Return | -15.63% | -32.34% |
| 1Y Return | -21.25% | -41.54% |
| 3Y Return (Ann) | -6.12% | -16.85% |
| 5Y Return (Ann) | -14.39% | -30.92% |
| 10Y Return (Ann) | -12.36% | -26.15% |
| Sharpe Ratio | -1.75 | -1.70 |
| Sortino Ratio | -2.56 | -2.77 |
| Omega Ratio | 0.72 | 0.70 |
| Calmar Ratio | -0.23 | -0.42 |
| Martin Ratio | -1.56 | -1.52 |
| Ulcer Index | 13.56% | 27.32% |
| Daily Std Dev | 12.11% | 24.33% |
| Max Drawdown | -93.65% | -99.76% |
| Current Drawdown | -93.63% | -99.76% |
Correlation
The correlation between SH and SDS is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SH vs. SDS - Performance Comparison
In the year-to-date period, SH achieves a -15.63% return, which is significantly higher than SDS's -32.34% return. Over the past 10 years, SH has outperformed SDS with an annualized return of -12.36%, while SDS has yielded a comparatively lower -26.15% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
SH vs. SDS - Expense Ratio Comparison
SH has a 0.90% expense ratio, which is lower than SDS's 0.91% expense ratio.
Risk-Adjusted Performance
SH vs. SDS - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P500 (SH) and ProShares UltraShort S&P500 (SDS). 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.
Dividends
SH vs. SDS - Dividend Comparison
SH's dividend yield for the trailing twelve months is around 6.81%, less than SDS's 8.88% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SH ProShares Short S&P500 | 6.81% | 5.37% | 0.32% | 0.00% | 0.16% | 1.49% | 1.01% | 0.06% |
SDS ProShares UltraShort S&P500 | 8.88% | 5.77% | 0.35% | 0.00% | 0.55% | 1.84% | 1.28% | 0.09% |
Drawdowns
SH vs. SDS - Drawdown Comparison
The maximum SH drawdown since its inception was -93.65%, smaller than the maximum SDS drawdown of -99.76%. Use the drawdown chart below to compare losses from any high point for SH and SDS. For additional features, visit the drawdowns tool.
Volatility
SH vs. SDS - Volatility Comparison
The current volatility for ProShares Short S&P500 (SH) is 3.89%, while ProShares UltraShort S&P500 (SDS) has a volatility of 7.84%. This indicates that SH experiences smaller price fluctuations and is considered to be less risky than SDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.