SMN vs. VT

Last updated Jun 4, 2026

SMN (ProShares UltraShort Basic Materials) and VT (Vanguard Total World Stock ETF) are both exchange-traded funds - SMN is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials Index (-200%), while VT is a Global Equities fund tracking the FTSE Global All Cap Index. Both are passively managed. Over the past 10 years, SMN returned -25.09%/yr vs 12.74%/yr for VT. At a correlation of -0.79, they often move in opposite directions. SMN charges 0.95%/yr vs 0.06%/yr for VT.

Performance

SMN vs. VT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Basic Materials (SMN) and Vanguard Total World Stock ETF (VT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMN achieves a -23.85% return, which is significantly lower than VT's 12.24% return. Over the past 10 years, SMN has underperformed VT with an annualized return of -25.09%, while VT has yielded a comparatively higher 12.74% annualized return.

SMN

• 1D: -0.81%
• 1M: -4.18%
• YTD: -23.85%
• 6M: -27.24%
• 1Y: -28.88%
• 3Y*: -17.26%
• 5Y*: -14.35%
• 10Y*: -25.09%

VT

• 1D: -0.88%
• 1M: 4.91%
• YTD: 12.24%
• 6M: 13.14%
• 1Y: 29.24%
• 3Y*: 20.93%
• 5Y*: 10.99%
• 10Y*: 12.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SMN vs. VT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMN ProShares UltraShort Basic Materials	-23.85%	-17.96%	7.37%	-20.23%	-3.03%	-45.83%	-55.75%	-33.63%	32.74%	-38.03%
VT Vanguard Total World Stock ETF	12.24%	22.43%	16.49%	22.02%	-18.00%	18.27%	16.59%	26.81%	-9.76%	24.50%

Correlation

The correlation between SMN and VT is -0.62, 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	-0.62
Correlation (3Y) Calculated over the trailing 3-year period	-0.69
Correlation (5Y) Calculated over the trailing 5-year period	-0.75
Correlation (10Y) Calculated over the trailing 10-year period	-0.76
Correlation (All Time) Calculated using the full available price history since Jun 27, 2008	-0.79

The correlation between SMN and VT shifts across timeframes, from -0.79 (all time) to -0.62 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SMN vs. VT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMN

SMN Risk / Return Rank: 2
SMN Sharpe Ratio Rank: 2
SMN Sortino Ratio Rank: 3
SMN Omega Ratio Rank: 3
SMN Calmar Ratio Rank: 3
SMN Martin Ratio Rank: 2

VT

VT Risk / Return Rank: 67
VT Sharpe Ratio Rank: 68
VT Sortino Ratio Rank: 68
VT Omega Ratio Rank: 67
VT Calmar Ratio Rank: 60
VT Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMN vs. VT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) and Vanguard Total World Stock ETF (VT). 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.

	SMN	VT	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	2.31	-3.17
Sortino ratio: Return per unit of downside risk	-1.14	3.20	-4.35
Omega ratio: Gain probability vs. loss probability	0.87	1.42	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.75	3.04	-3.79
Martin ratio: Return relative to average drawdown	-1.36	13.53	-14.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMN vs. VT - Sharpe Ratio Comparison

The current SMN Sharpe Ratio is -0.86, which is lower than the VT Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of SMN and VT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SMN	VT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.86	2.31	-3.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.69	-1.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.59	0.74	-1.33
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	0.44	-0.97

Drawdowns

SMN vs. VT - Drawdown Comparison

The maximum SMN drawdown since its inception was -99.92%, which is greater than VT's maximum drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for SMN and VT.

Drawdown Indicators

	SMN	VT	Difference
Max Drawdown Largest peak-to-trough decline	-99.92%	-50.27%	-49.65%
Max Drawdown (1Y) Largest decline over 1 year	-38.52%	-9.67%	-28.85%
Max Drawdown (3Y) Largest decline over 3 years	-53.71%	-16.51%	-37.20%
Max Drawdown (5Y) Largest decline over 5 years	-66.05%	-26.38%	-39.67%
Max Drawdown (10Y) Largest decline over 10 years	-95.39%	-34.24%	-61.15%
Current Drawdown Current decline from peak	-99.91%	-0.88%	-99.03%
Average Drawdown Average peak-to-trough decline	-90.55%	-7.02%	-83.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.25%	2.17%	+19.08%

Volatility

SMN vs. VT - Volatility Comparison

ProShares UltraShort Basic Materials (SMN) has a higher volatility of 11.58% compared to Vanguard Total World Stock ETF (VT) at 3.83%. This indicates that SMN's price experiences larger fluctuations and is considered to be riskier than VT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMN	VT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.58%	3.83%	+7.75%
Volatility (6M) Calculated over the trailing 6-month period	26.63%	10.17%	+16.46%
Volatility (1Y) Calculated over the trailing 1-year period	33.89%	12.70%	+21.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.54%	16.05%	+23.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.90%	17.23%	+25.67%

SMN vs. VT - Expense Ratio Comparison

SMN has a 0.95% expense ratio, which is higher than VT's 0.06% expense ratio.

Dividends

SMN vs. VT - Dividend Comparison

SMN's dividend yield for the trailing twelve months is around 4.62%, more than VT's 1.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMN ProShares UltraShort Basic Materials	4.62%	4.08%	5.02%	4.54%	0.42%	0.00%	0.00%	0.72%	0.06%	0.00%	0.00%	0.00%
VT Vanguard Total World Stock ETF	1.59%	1.82%	1.95%	2.08%	2.20%	1.82%	1.66%	2.32%	2.53%	2.11%	2.39%	2.45%

Frequently Asked Questions

Can I hold both SMN and VT in my portfolio?

SMN and VT have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMN or VT?

SMN has higher volatility (11.58%) compared to VT (3.83%). In terms of maximum drawdown, SMN dropped -99.92% vs VT's -50.27%.

Which ETF is better, SMN or VT?

On 10-year performance, VT leads with 12.74% vs -25.09% for SMN. On fees, VT is cheaper at 0.06% per year. On volatility, VT has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMN or VT?

Over the 10-year period, VT has performed better with a 12.74% return vs -25.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMN or VT?

VT is cheaper with a 0.06% expense ratio, compared with 0.95% for SMN.

Which ETF pays a higher dividend yield, SMN or VT?

SMN has the higher dividend yield at 4.62%, compared with 1.59% for VT.

What is the main difference between SMN and VT?

SMN is categorized as Leveraged Equities, while VT is Global Equities. SMN tracks Dow Jones U.S. Basic Materials Index (-200%), while VT tracks FTSE Global All Cap Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for SMN and 0.06% for VT.

Which has better risk-adjusted returns?

VT currently has the higher Sharpe Ratio (2.31 vs -0.86), 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.