SMDD vs. JHMM
SMDD (ProShares UltraPro Short MidCap400) and JHMM (John Hancock Multifactor Mid Cap ETF) are both exchange-traded funds - SMDD is a Leveraged Equities fund tracking the S&P MidCap 400 Index (-300%), while JHMM is a Mid Cap Growth Equities fund tracking the John Hancock Dimensional Mid Cap Index. Both are passively managed. Over the past 10 years, SMDD returned -39.71%/yr vs 11.64%/yr for JHMM. At a correlation of -0.95, they often move in opposite directions. SMDD charges 0.95%/yr vs 0.42%/yr for JHMM.
Performance
SMDD vs. JHMM - Performance Comparison
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Returns By Period
In the year-to-date period, SMDD achieves a -36.11% return, which is significantly lower than JHMM's 13.68% return. Over the past 10 years, SMDD has underperformed JHMM with an annualized return of -39.71%, while JHMM has yielded a comparatively higher 11.64% annualized return.
SMDD
- 1D
- -1.63%
- 1M
- -0.00%
- 6M
- -23.09%
- YTD
- -36.11%
- 1Y
- -45.70%
- 3Y*
- -34.48%
- 5Y*
- -31.60%
- 10Y*
- -39.71%
JHMM
- 1D
- 0.52%
- 1M
- 0.06%
- 6M
- 7.64%
- YTD
- 13.68%
- 1Y
- 21.68%
- 3Y*
- 14.57%
- 5Y*
- 8.98%
- 10Y*
- 11.64%
SMDD vs. JHMM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMDD ProShares UltraPro Short MidCap400 | -36.11% | -27.46% | -31.02% | -38.37% | 7.69% | -58.01% | -74.71% | -53.34% | 33.50% | -39.87% |
JHMM John Hancock Multifactor Mid Cap ETF | 13.68% | 10.73% | 14.61% | 14.53% | -15.30% | 24.54% | 16.22% | 30.01% | -9.57% | 19.96% |
Correlation
The correlation between SMDD and JHMM is -0.97, 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 | -0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2015 | -0.95 |
The correlation between SMDD and JHMM has been stable across timeframes, ranging from -0.98 to -0.95 - a consistent structural relationship.
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Return for Risk
SMDD vs. JHMM — Risk / Return Rank
SMDD
JHMM
SMDD vs. JHMM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short MidCap400 (SMDD) and John Hancock Multifactor Mid Cap ETF (JHMM). 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.
| SMDD | JHMM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.49 | ||
| Sortino ratioReturn per unit of downside risk | -3.61 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.27 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.52 | -3.44 |
| Martin ratioReturn relative to average drawdown | -1.59 | 9.67 | -11.26 |
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Drawdowns
SMDD vs. JHMM - Drawdown Comparison
The maximum SMDD drawdown since its inception was -99.99%, which is greater than JHMM's maximum drawdown of -40.71%. Use the drawdown chart below to compare losses from any high point for SMDD and JHMM.
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Drawdown Indicators
| SMDD | JHMM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -40.71% | -59.28% |
Max Drawdown (1Y)Largest decline over 1 year | -50.01% | -8.64% | -41.37% |
Max Drawdown (3Y)Largest decline over 3 years | -82.62% | -21.88% | -60.74% |
Max Drawdown (5Y)Largest decline over 5 years | -88.24% | -24.10% | -64.14% |
Max Drawdown (10Y)Largest decline over 10 years | -99.45% | -40.71% | -58.74% |
Current DrawdownCurrent decline from peak | -99.99% | -1.08% | -98.91% |
Average DrawdownAverage peak-to-trough decline | -92.99% | -5.38% | -87.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.79% | 2.25% | +26.54% |
Volatility
SMDD vs. JHMM - Volatility Comparison
ProShares UltraPro Short MidCap400 (SMDD) has a higher volatility of 10.40% compared to John Hancock Multifactor Mid Cap ETF (JHMM) at 3.29%. This indicates that SMDD's price experiences larger fluctuations and is considered to be riskier than JHMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMDD | JHMM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.40% | 3.29% | +7.11% |
Volatility (6M)Calculated over the trailing 6-month period | 35.28% | 10.75% | +24.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.19% | 14.35% | +32.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.75% | 18.34% | +40.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.21% | 19.54% | +43.67% |
SMDD vs. JHMM - Expense Ratio Comparison
SMDD has a 0.95% expense ratio, which is higher than JHMM's 0.42% expense ratio.
Dividends
SMDD vs. JHMM - Dividend Comparison
SMDD's dividend yield for the trailing twelve months is around 5.85%, more than JHMM's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JHMM John Hancock Multifactor Mid Cap ETF | 0.89% | 0.98% | 1.01% | 1.17% | 1.16% | 0.72% | 1.04% | 1.02% | 1.36% | 0.90% | 1.15% | 0.33% |
SMDD ProShares UltraPro Short MidCap400 | 5.85% | 4.96% | 4.09% | 3.86% | 0.14% | 0.00% | 0.13% | 1.51% | 0.09% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMDD and JHMM have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMDD has higher volatility (10.40%) compared to JHMM (3.29%). In terms of maximum drawdown, SMDD dropped -99.99% vs JHMM's -40.71%.
On 10-year performance, JHMM leads with 11.64% vs -39.71% for SMDD. On fees, JHMM is cheaper at 0.42% per year. On volatility, JHMM has been the lower-risk option at 3.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, JHMM has performed better with a 11.64% return vs -39.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JHMM is cheaper with a 0.42% expense ratio, compared with 0.95% for SMDD.
SMDD has the higher dividend yield at 5.85%, compared with 0.89% for JHMM.
SMDD is categorized as Leveraged Equities, while JHMM is Mid Cap Growth Equities. SMDD tracks S&P MidCap 400 Index (-300%), while JHMM tracks John Hancock Dimensional Mid Cap Index. They also come from different issuers: ProShares and Manulife. Their fees differ too: 0.95% for SMDD and 0.42% for JHMM.
JHMM currently has the higher Sharpe Ratio (1.52 vs -0.97), 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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