SH vs. TSDD
SH (ProShares Short S&P500) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both Inverse Equities funds. SH is passively managed, while TSDD is actively managed. Over the past year, SH returned -14.42% vs -50.55% for TSDD. Their 0.57 correlation means they have sometimes moved together and sometimes differently. SH charges 0.89%/yr vs 0.95%/yr for TSDD.
Performance
SH vs. TSDD - Performance Comparison
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Returns By Period
In the year-to-date period, SH achieves a -7.97% return, which is significantly lower than TSDD's 37.39% return.
SH
- 1D
- -1.42%
- 1M
- -1.30%
- 6M
- -6.60%
- YTD
- -7.97%
- 1Y
- -14.42%
- 3Y*
- -12.05%
- 5Y*
- -8.25%
- 10Y*
- -12.49%
- ALL TIME*
- -11.35%
TSDD
- 1D
- -7.09%
- 1M
- 34.60%
- 6M
- 24.94%
- YTD
- 37.39%
- 1Y
- -50.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -69.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $269.15M | $242.02M | $299.42M | |
| $152.97M | $157.39M | $198.36M |
SH vs. TSDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SH ProShares Short S&P500 | -7.97% | -11.35% | -13.52% | -5.56% |
TSDD GraniteShares 2x Short TSLA Daily ETF | 37.39% | -74.84% | -89.21% | -20.49% |
Correlation
The correlation between SH and TSDD is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023 | 0.57 |
The correlation between SH and TSDD has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.
SH vs. TSDD - Sectors Allocation Comparison
Sectors
SH
TSDD
Financial Services
-
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Financial Services
SH
TSDD
-
Basic Materials
SH
-
TSDD
-
Communication Services
SH
-
TSDD
-
Consumer Cyclical
SH
-
TSDD
Consumer Defensive
SH
-
TSDD
-
Energy
SH
-
TSDD
-
Healthcare
SH
-
TSDD
-
Industrials
SH
-
TSDD
-
Real Estate
SH
-
TSDD
-
Technology
SH
-
TSDD
-
Utilities
SH
-
TSDD
-
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Return for Risk
SH vs. TSDD — Risk / Return Rank
SH
TSDD
SH vs. TSDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P500 (SH) and GraniteShares 2x Short TSLA Daily ETF (TSDD). 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.
| SH | TSDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.95 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.74 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.66 | -0.93 | -0.73 |
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Drawdowns
SH vs. TSDD - Drawdown Comparison
The maximum SH drawdown since its inception was -94.66%, roughly equal to the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for SH and TSDD.
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Drawdown Indicators
| SH | TSDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.66% | -99.03% | +4.37% |
Max Drawdown (1Y)Largest decline over 1 year | -16.06% | -68.22% | +52.16% |
Max Drawdown (3Y)Largest decline over 3 years | -38.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -44.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -74.80% | — | — |
Current DrawdownCurrent decline from peak | -94.62% | -98.43% | +3.81% |
Average DrawdownAverage peak-to-trough decline | -67.93% | -72.64% | +4.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.08% | 56.18% | -47.10% |
Volatility
SH vs. TSDD - Volatility Comparison
The current volatility for ProShares Short S&P500 (SH) is 3.78%, while GraniteShares 2x Short TSLA Daily ETF (TSDD) has a volatility of 36.11%. This indicates that SH experiences smaller price fluctuations and is considered to be less risky than TSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SH | TSDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 36.11% | -32.33% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 67.54% | -57.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.78% | 92.83% | -80.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 115.19% | -98.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 115.19% | -97.16% |
SH vs. TSDD - Expense Ratio Comparison
SH has a 0.89% expense ratio, which is lower than TSDD's 0.95% expense ratio.
Dividends
SH vs. TSDD - Dividend Comparison
SH's dividend yield for the trailing twelve months is around 4.25%, less than TSDD's 6.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SH ProShares Short S&P500 | 4.25% | 4.49% | 6.20% | 5.37% | 1.08% | 0.00% | 0.16% | 1.76% | 1.01% | 0.06% |
TSDD GraniteShares 2x Short TSLA Daily ETF | 6.13% | 8.42% | 0.00% | 24.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SH and TSDD have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSDD has higher volatility (36.11%) compared to SH (3.78%). In terms of maximum drawdown, SH dropped -94.66% vs TSDD's -99.03%.
On 1-year performance, SH leads with -14.42% vs -50.55% for TSDD. On fees, SH is cheaper at 0.89% per year. On volatility, SH has been the lower-risk option at 3.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SH has performed better with a -14.42% return vs -50.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SH is cheaper with a 0.89% expense ratio, compared with 0.95% for TSDD.
TSDD has the higher dividend yield at 6.13%, compared with 4.25% for SH.
They also come from different issuers: ProShares and GraniteShares. Their fees differ too: 0.89% for SH and 0.95% for TSDD.
TSDD currently has the higher Sharpe Ratio (-0.55 vs -1.13), 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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