SJB vs. EEM
Compare and contrast key facts about ProShares Short High Yield (SJB) and iShares MSCI Emerging Markets ETF (EEM).
SJB and EEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SJB is a passively managed fund by ProShares that tracks the performance of the iBoxx $ Liquid High Yield Index (-100%). It was launched on Mar 21, 2011. EEM is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Index. It was launched on Apr 11, 2003. Both SJB and EEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SJB vs. EEM - Performance Comparison
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SJB vs. EEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 1.76% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -9.23% | -11.42% | 2.47% | -6.17% |
EEM iShares MSCI Emerging Markets ETF | 3.80% | 33.98% | 6.49% | 8.95% | -20.56% | -3.63% | 17.02% | 18.22% | -15.31% | 37.26% |
Returns By Period
In the year-to-date period, SJB achieves a 1.76% return, which is significantly lower than EEM's 3.80% return. Over the past 10 years, SJB has underperformed EEM with an annualized return of -4.13%, while EEM has yielded a comparatively higher 7.58% annualized return.
SJB
- 1D
- -1.05%
- 1M
- 1.33%
- YTD
- 1.76%
- 6M
- 2.10%
- 1Y
- -0.56%
- 3Y*
- -1.29%
- 5Y*
- -0.64%
- 10Y*
- -4.13%
EEM
- 1D
- 3.73%
- 1M
- -9.25%
- YTD
- 3.80%
- 6M
- 7.87%
- 1Y
- 33.09%
- 3Y*
- 15.72%
- 5Y*
- 3.45%
- 10Y*
- 7.58%
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SJB vs. EEM - Expense Ratio Comparison
SJB has a 0.95% expense ratio, which is higher than EEM's 0.72% expense ratio.
Return for Risk
SJB vs. EEM — Risk / Return Rank
SJB
EEM
SJB vs. EEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) and iShares MSCI Emerging Markets ETF (EEM). 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.
| SJB | EEM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.10 | 1.64 | -1.74 |
Sortino ratioReturn per unit of downside risk | -0.10 | 2.23 | -2.32 |
Omega ratioGain probability vs. loss probability | 0.99 | 1.33 | -0.34 |
Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.43 | -2.52 |
Martin ratioReturn relative to average drawdown | -0.11 | 9.41 | -9.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SJB | EEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.10 | 1.64 | -1.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | 0.19 | -0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.48 | 0.37 | -0.86 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.60 | 0.35 | -0.95 |
Correlation
The correlation between SJB and EEM is -0.59. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SJB vs. EEM - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.40%, more than EEM's 2.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 3.40% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% | 0.00% | 0.00% | 0.00% |
EEM iShares MSCI Emerging Markets ETF | 2.14% | 2.22% | 2.43% | 2.63% | 2.50% | 1.99% | 1.45% | 2.76% | 2.24% | 1.89% | 1.89% | 2.49% |
Drawdowns
SJB vs. EEM - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, smaller than the maximum EEM drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for SJB and EEM.
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Drawdown Indicators
| SJB | EEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -66.43% | +8.37% |
Max Drawdown (1Y)Largest decline over 1 year | -6.35% | -13.52% | +7.17% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -37.82% | +24.52% |
Max Drawdown (10Y)Largest decline over 10 years | -36.52% | -39.82% | +3.30% |
Current DrawdownCurrent decline from peak | -56.97% | -10.30% | -46.67% |
Average DrawdownAverage peak-to-trough decline | -42.30% | -16.12% | -26.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 3.49% | +1.67% |
Volatility
SJB vs. EEM - Volatility Comparison
The current volatility for ProShares Short High Yield (SJB) is 2.25%, while iShares MSCI Emerging Markets ETF (EEM) has a volatility of 10.70%. This indicates that SJB experiences smaller price fluctuations and is considered to be less risky than EEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJB | EEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 10.70% | -8.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 15.12% | -12.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.69% | 20.23% | -14.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.50% | 18.43% | -10.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.55% | 20.32% | -11.77% |