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 9.59%/yr vs -0.27%/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 10.69% return, which is significantly higher than SJB's 0.58% return.
SIXH
- 1D
- 0.26%
- 1M
- 0.51%
- 6M
- 9.67%
- YTD
- 10.69%
- 1Y
- 14.63%
- 3Y*
- 13.22%
- 5Y*
- 9.59%
- 10Y*
- —
SJB
- 1D
- 0.20%
- 1M
- 0.07%
- 6M
- 0.84%
- YTD
- 0.58%
- 1Y
- 0.05%
- 3Y*
- -1.97%
- 5Y*
- -0.27%
- 10Y*
- -3.51%
SIXH vs. SJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 10.69% | 9.47% | 12.06% | 4.93% | 6.90% | 18.37% | 6.49% |
SJB ProShares Short High Yield | 0.58% | -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 | -0.34 |
Correlation (All Time) Calculated using the full available price history since May 11, 2020 | -0.34 |
The correlation between SIXH and SJB shifts across timeframes, from -0.34 (all time) 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 | +1.75 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.01 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 0.09 | +3.13 |
| Martin ratioReturn relative to average drawdown | 8.17 | 0.18 | +7.99 |
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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 | — | -32.86% | — |
Current DrawdownCurrent decline from peak | -0.17% | -57.47% | +57.30% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -42.57% | +40.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 1.39% | +0.33% |
Volatility
SIXH vs. SJB - Volatility Comparison
6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) has a higher volatility of 2.16% compared to ProShares Short High Yield (SJB) at 0.90%. 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 | 2.16% | 0.90% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 6.19% | 3.06% | +3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.74% | 3.84% | +3.90% |
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 | 10.10% | 8.45% | +1.65% |
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 1.86%, less than SJB's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 1.86% | 2.23% | 1.55% | 2.04% | 2.06% | 1.65% | 1.10% | 0.00% | 0.00% |
SJB ProShares Short High Yield | 3.61% | 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 (2.16%) compared to SJB (0.90%). In terms of maximum drawdown, SIXH dropped -11.68% vs SJB's -58.06%.
On 5-year performance, SIXH leads with 9.59% vs -0.27% for SJB. On fees, SIXH is cheaper at 0.87% per year. On volatility, SJB has been the lower-risk option at 0.90%. 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 9.59% return vs -0.27%. 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 3.61%, compared with 1.86% 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 (1.81 vs 0.06), 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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