Correlation
The correlation between SMN and SPY is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
SMN vs. SPY
Compare and contrast key facts about ProShares UltraShort Basic Materials (SMN) and SPDR S&P 500 ETF (SPY).
SMN and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMN is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Basic Materials Index (-200%). It was launched on Jan 30, 2007. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both SMN and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SMN or SPY.
Performance
SMN vs. SPY - Performance Comparison
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Key characteristics
SMN:
0.09
SPY:
0.67
SMN:
0.53
SPY:
1.03
SMN:
1.07
SPY:
1.15
SMN:
0.07
SPY:
0.69
SMN:
0.56
SPY:
2.61
SMN:
13.04%
SPY:
4.92%
SMN:
40.16%
SPY:
20.44%
SMN:
-99.90%
SPY:
-55.19%
SMN:
-99.87%
SPY:
-3.44%
Returns By Period
In the year-to-date period, SMN achieves a -8.94% return, which is significantly lower than SPY's 0.98% return. Over the past 10 years, SMN has underperformed SPY with an annualized return of -22.81%, while SPY has yielded a comparatively higher 12.73% annualized return.
SMN
-8.94%
-6.06%
14.01%
3.66%
-6.84%
-27.28%
-22.81%
SPY
0.98%
6.45%
-0.84%
13.58%
14.08%
15.83%
12.73%
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SMN vs. SPY - Expense Ratio Comparison
SMN has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
SMN vs. SPY — Risk-Adjusted Performance Rank
SMN
SPY
SMN vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) and SPDR S&P 500 ETF (SPY). 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.
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Dividends
SMN vs. SPY - Dividend Comparison
SMN's dividend yield for the trailing twelve months is around 5.17%, more than SPY's 1.21% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMN ProShares UltraShort Basic Materials | 5.17% | 5.02% | 4.55% | 0.42% | 0.00% | 0.00% | 0.72% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.21% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
SMN vs. SPY - Drawdown Comparison
The maximum SMN drawdown since its inception was -99.90%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SMN and SPY.
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Volatility
SMN vs. SPY - Volatility Comparison
ProShares UltraShort Basic Materials (SMN) has a higher volatility of 9.17% compared to SPDR S&P 500 ETF (SPY) at 4.85%. This indicates that SMN's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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