SMQ vs. SH
SMQ (Tradr 1X Short Innovation 100 Monthly ETF) and SH (ProShares Short S&P500) are both Inverse Equities funds. SMQ is actively managed, while SH is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. SMQ charges 1.50%/yr vs 0.89%/yr for SH.
Performance
SMQ vs. SH - Performance Comparison
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Returns By Period
In the year-to-date period, SMQ achieves a -15.29% return, which is significantly lower than SH's -5.44% return.
SMQ
- 1D
- 0.00%
- 1M
- 3.71%
- YTD
- -15.29%
- 6M
- -13.93%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SH
- 1D
- 0.00%
- 1M
- 2.42%
- YTD
- -5.44%
- 6M
- -4.16%
- 1Y
- -13.46%
- 3Y*
- -12.01%
- 5Y*
- -8.31%
- 10Y*
- -13.04%
SMQ vs. SH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMQ Tradr 1X Short Innovation 100 Monthly ETF | -15.29% | 0.13% |
SH ProShares Short S&P500 | -5.44% | 0.44% |
Correlation
The correlation between SMQ and SH is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 1, 2025 | 0.87 |
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Return for Risk
SMQ vs. SH — Risk / Return Rank
SMQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SH
SMQ vs. SH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 1X Short Innovation 100 Monthly ETF (SMQ) and ProShares Short S&P500 (SH). 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.
| SMQ | SH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.83 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.84 | — |
| Martin ratioReturn relative to average drawdown | — | -1.63 | — |
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Drawdowns
SMQ vs. SH - Drawdown Comparison
The maximum SMQ drawdown since its inception was -27.62%, smaller than the maximum SH drawdown of -94.66%. Use the drawdown chart below to compare losses from any high point for SMQ and SH.
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Drawdown Indicators
| SMQ | SH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.62% | -94.66% | +67.04% |
Max Drawdown (1Y)Largest decline over 1 year | — | -16.06% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -38.82% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -44.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.67% | — |
Current DrawdownCurrent decline from peak | -23.22% | -94.47% | +71.25% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -67.79% | +58.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 8.76% | — |
Volatility
SMQ vs. SH - Volatility Comparison
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Volatility by Period
| SMQ | SH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.73% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.79% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.29% | 12.39% | +5.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.29% | 16.95% | +1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.29% | 18.02% | +0.27% |
SMQ vs. SH - Expense Ratio Comparison
SMQ has a 1.50% expense ratio, which is higher than SH's 0.89% expense ratio.
Dividends
SMQ vs. SH - Dividend Comparison
SMQ's dividend yield for the trailing twelve months is around 8.90%, more than SH's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SH ProShares Short S&P500 | 4.13% | 4.49% | 6.20% | 5.37% | 1.08% | 0.00% | 0.16% | 1.76% | 1.01% | 0.06% |
SMQ Tradr 1X Short Innovation 100 Monthly ETF | 8.90% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMQ and SH have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SH is cheaper at 0.89% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SH is cheaper with a 0.89% expense ratio, compared with 1.50% for SMQ.
SMQ has the higher dividend yield at 8.90%, compared with 4.13% for SH.
They also come from different issuers: Tradr and ProShares. Their fees differ too: 1.50% for SMQ and 0.89% for SH.
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