SIXH vs. SJB
SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) and SJB (ProShares Short High Yield) are both exchange-traded funds - SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts, while SJB is a Inverse Bonds fund tracking the iBoxx $ Liquid High Yield Index (-100%). SIXH is actively managed, while SJB is passively managed. Over the past 5 years, SIXH returned 9.64%/yr vs -0.44%/yr for SJB. At a correlation of -0.34, they often move in opposite directions. SIXH charges 0.87%/yr vs 0.95%/yr for SJB.
Performance
SIXH vs. SJB - Performance Comparison
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Returns By Period
In the year-to-date period, SIXH achieves a 9.61% return, which is significantly higher than SJB's 0.61% return.
SIXH
- 1D
- 0.55%
- 1M
- 0.87%
- YTD
- 9.61%
- 6M
- 9.61%
- 1Y
- 13.50%
- 3Y*
- 13.19%
- 5Y*
- 9.64%
- 10Y*
- —
SJB
- 1D
- 0.07%
- 1M
- -0.29%
- YTD
- 0.61%
- 6M
- 0.46%
- 1Y
- -0.35%
- 3Y*
- -2.26%
- 5Y*
- -0.44%
- 10Y*
- -3.87%
SIXH vs. SJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 9.61% | 9.47% | 12.06% | 4.93% | 6.90% | 18.37% | 6.49% |
SJB ProShares Short High Yield | 0.61% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -13.72% |
Correlation
The correlation between SIXH and SJB is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since May 11, 2020 | -0.35 |
The correlation between SIXH and SJB shifts across timeframes, from -0.35 (5 years) to -0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SIXH vs. SJB — Risk / Return Rank
SIXH
SJB
SIXH vs. SJB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and ProShares Short High Yield (SJB). 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.
| SIXH | SJB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.99 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | -0.13 | +3.24 |
| Martin ratioReturn relative to average drawdown | 7.88 | -0.27 | +8.15 |
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Drawdowns
SIXH vs. SJB - Drawdown Comparison
The maximum SIXH drawdown since its inception was -11.68%, smaller than the maximum SJB drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for SIXH and SJB.
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Drawdown Indicators
| SIXH | SJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.68% | -58.06% | +46.38% |
Max Drawdown (1Y)Largest decline over 1 year | -4.36% | -2.74% | -1.62% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -10.54% | +1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -11.68% | -13.30% | +1.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.57% | — |
Current DrawdownCurrent decline from peak | -0.47% | -57.45% | +56.98% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -42.52% | +40.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 1.32% | +0.40% |
Volatility
SIXH vs. SJB - Volatility Comparison
6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) has a higher volatility of 2.33% compared to ProShares Short High Yield (SJB) at 1.05%. This indicates that SIXH's price experiences larger fluctuations and is considered to be riskier than SJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIXH | SJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.33% | 1.05% | +1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 6.07% | 3.03% | +3.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.68% | 3.88% | +3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.37% | 7.52% | +2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.13% | 8.51% | +1.62% |
SIXH vs. SJB - Expense Ratio Comparison
SIXH has a 0.87% expense ratio, which is lower than SJB's 0.95% expense ratio.
Dividends
SIXH vs. SJB - Dividend Comparison
SIXH's dividend yield for the trailing twelve months is around 1.85%, less than SJB's 3.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 1.85% | 2.23% | 1.55% | 2.04% | 2.06% | 1.65% | 1.10% | 0.00% | 0.00% |
SJB ProShares Short High Yield | 3.44% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% |
Frequently Asked Questions
SIXH and SJB have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIXH has higher volatility (2.33%) compared to SJB (1.05%). In terms of maximum drawdown, SIXH dropped -11.68% vs SJB's -58.06%.
On 5-year performance, SIXH leads with 9.64% vs -0.44% for SJB. On fees, SIXH is cheaper at 0.87% per year. On volatility, SJB has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SIXH has performed better with a 9.64% return vs -0.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIXH is cheaper with a 0.87% expense ratio, compared with 0.95% for SJB.
SJB has the higher dividend yield at 3.44%, compared with 1.85% for SIXH.
SIXH is categorized as Volatility Hedged Equity, while SJB is Inverse Bonds. They also come from different issuers: Exchange Traded Concepts and ProShares. Their fees differ too: 0.87% for SIXH and 0.95% for SJB.
SIXH currently has the higher Sharpe Ratio (1.77 vs -0.09), 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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