SJB vs. SIXH
SJB (ProShares Short High Yield) and SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) are both exchange-traded funds - SJB is a Inverse Bonds fund tracking the iBoxx $ Liquid High Yield Index (-100%), while SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts. SJB is passively managed, while SIXH is actively managed. Over the past 5 years, SJB returned -0.36%/yr vs 9.64%/yr for SIXH. At a correlation of -0.34, they often move in opposite directions. SJB charges 0.95%/yr vs 0.87%/yr for SIXH.
Performance
SJB vs. SIXH - Performance Comparison
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Returns By Period
In the year-to-date period, SJB achieves a 0.74% return, which is significantly lower than SIXH's 10.10% return.
SJB
- 1D
- 0.13%
- 1M
- -0.16%
- YTD
- 0.74%
- 6M
- 0.66%
- 1Y
- -0.07%
- 3Y*
- -2.22%
- 5Y*
- -0.36%
- 10Y*
- -3.86%
SIXH
- 1D
- 0.45%
- 1M
- 1.32%
- YTD
- 10.10%
- 6M
- 10.25%
- 1Y
- 13.45%
- 3Y*
- 13.36%
- 5Y*
- 9.64%
- 10Y*
- —
SJB vs. SIXH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SJB ProShares Short High Yield | 0.74% | -1.87% | -0.84% | -5.63% | 9.57% | -6.69% | -13.72% |
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF | 10.10% | 9.47% | 12.06% | 4.93% | 6.90% | 18.37% | 6.49% |
Correlation
The correlation between SJB and SIXH 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 SJB and SIXH shifts across timeframes, from -0.34 (5 years) to -0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SJB vs. SIXH — Risk / Return Rank
SJB
SIXH
SJB vs. SIXH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short High Yield (SJB) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). 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.
| SJB | SIXH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.78 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.31 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 3.09 | -3.12 |
| Martin ratioReturn relative to average drawdown | -0.05 | 7.85 | -7.90 |
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Drawdowns
SJB vs. SIXH - Drawdown Comparison
The maximum SJB drawdown since its inception was -58.06%, which is greater than SIXH's maximum drawdown of -11.68%. Use the drawdown chart below to compare losses from any high point for SJB and SIXH.
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Drawdown Indicators
| SJB | SIXH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.06% | -11.68% | -46.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -4.36% | +1.62% |
Max Drawdown (3Y)Largest decline over 3 years | -10.54% | -9.10% | -1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -11.68% | -1.62% |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | — | — |
Current DrawdownCurrent decline from peak | -57.40% | -0.02% | -57.38% |
Average DrawdownAverage peak-to-trough decline | -42.52% | -1.84% | -40.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.72% | -0.42% |
Volatility
SJB vs. SIXH - Volatility Comparison
The current volatility for ProShares Short High Yield (SJB) is 1.06%, while 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) has a volatility of 2.29%. This indicates that SJB experiences smaller price fluctuations and is considered to be less risky than SIXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SJB | SIXH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 2.29% | -1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 6.08% | -3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.88% | 7.67% | -3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.52% | 10.37% | -2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.50% | 10.12% | -1.62% |
SJB vs. SIXH - Expense Ratio Comparison
SJB has a 0.95% expense ratio, which is higher than SIXH's 0.87% expense ratio.
Dividends
SJB vs. SIXH - Dividend Comparison
SJB's dividend yield for the trailing twelve months is around 3.43%, more than SIXH's 1.85% 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 | 3.43% | 3.86% | 5.86% | 4.10% | 0.46% | 0.00% | 0.07% | 1.27% | 0.71% |
Frequently Asked Questions
SJB and SIXH 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 (2.29%) compared to SJB (1.06%). In terms of maximum drawdown, SJB dropped -58.06% vs SIXH's -11.68%.
On 5-year performance, SIXH leads with 9.64% vs -0.36% for SJB. On fees, SIXH is cheaper at 0.87% per year. On volatility, SJB has been the lower-risk option at 1.06%. 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 -0.36%. 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 3.43%, compared with 1.85% for SIXH.
SJB is categorized as Inverse Bonds, while SIXH is Volatility Hedged Equity. They also come from different issuers: ProShares and Exchange Traded Concepts. Their fees differ too: 0.95% for SJB and 0.87% for SIXH.
SIXH currently has the higher Sharpe Ratio (1.76 vs -0.02), 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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