SSG vs. SMH
Compare and contrast key facts about Proshares Ultrashort Semiconductors (SSG) and VanEck Semiconductor ETF (SMH).
SSG and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SSG is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Semiconductors Index (-200%). It was launched on Jan 30, 2007. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both SSG and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SSG vs. SMH - Performance Comparison
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SSG vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | -1.48% | -70.03% | -77.59% | -78.69% | 37.90% | -67.46% | -76.50% | -63.33% | -0.79% | -51.60% |
SMH VanEck Semiconductor ETF | 6.46% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Returns By Period
In the year-to-date period, SSG achieves a -1.48% return, which is significantly lower than SMH's 6.46% return. Over the past 10 years, SSG has underperformed SMH with an annualized return of -58.81%, while SMH has yielded a comparatively higher 31.28% annualized return.
SSG
- 1D
- -11.17%
- 1M
- 5.14%
- YTD
- -1.48%
- 6M
- -17.04%
- 1Y
- -76.82%
- 3Y*
- -69.74%
- 5Y*
- -60.78%
- 10Y*
- -58.81%
SMH
- 1D
- 5.76%
- 1M
- -5.65%
- YTD
- 6.46%
- 6M
- 17.84%
- 1Y
- 81.87%
- 3Y*
- 43.47%
- 5Y*
- 25.59%
- 10Y*
- 31.28%
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SSG vs. SMH - Expense Ratio Comparison
SSG has a 0.95% expense ratio, which is higher than SMH's 0.35% expense ratio.
Return for Risk
SSG vs. SMH — Risk / Return Rank
SSG
SMH
SSG vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) and VanEck Semiconductor ETF (SMH). 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.
| SSG | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.00 | 2.23 | -3.23 |
Sortino ratioReturn per unit of downside risk | -1.90 | 2.85 | -4.75 |
Omega ratioGain probability vs. loss probability | 0.76 | 1.40 | -0.65 |
Calmar ratioReturn relative to maximum drawdown | -0.90 | 5.10 | -5.99 |
Martin ratioReturn relative to average drawdown | -1.04 | 18.29 | -19.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SSG | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 2.23 | -3.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.79 | 0.74 | -1.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.86 | 0.97 | -1.83 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.75 | 0.28 | -1.03 |
Correlation
The correlation between SSG and SMH is -0.95. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SSG vs. SMH - Dividend Comparison
SSG's dividend yield for the trailing twelve months is around 5.30%, more than SMH's 0.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | 5.30% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.29% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
SSG vs. SMH - Drawdown Comparison
The maximum SSG drawdown since its inception was -100.00%, which is greater than SMH's maximum drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for SSG and SMH.
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Drawdown Indicators
| SSG | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -84.96% | -15.04% |
Max Drawdown (1Y)Largest decline over 1 year | -85.01% | -15.95% | -69.06% |
Max Drawdown (5Y)Largest decline over 5 years | -99.37% | -45.30% | -54.07% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -45.30% | -54.69% |
Current DrawdownCurrent decline from peak | -100.00% | -10.03% | -89.97% |
Average DrawdownAverage peak-to-trough decline | -88.49% | -41.36% | -47.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 73.38% | 4.44% | +68.94% |
Volatility
SSG vs. SMH - Volatility Comparison
Proshares Ultrashort Semiconductors (SSG) has a higher volatility of 22.18% compared to VanEck Semiconductor ETF (SMH) at 12.11%. This indicates that SSG's price experiences larger fluctuations and is considered to be riskier than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSG | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.18% | 12.11% | +10.07% |
Volatility (6M)Calculated over the trailing 6-month period | 49.00% | 23.95% | +25.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.13% | 36.84% | +40.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.03% | 34.71% | +42.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.55% | 32.28% | +36.27% |