ZIVB vs. SH
ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) and SH (ProShares Short S&P500) are both Inverse Equities funds. ZIVB is actively managed, while SH is passively managed. Their 0.03 correlation means their historical movements had little consistent relationship. ZIVB charges 1.35%/yr vs 0.89%/yr for SH.
Performance
ZIVB vs. SH - Performance Comparison
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Returns By Period
ZIVB
- 1D
- 0.00%
- 1M
- 2.42%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SH
- 1D
- -0.21%
- 1M
- -1.01%
- 6M
- -4.40%
- YTD
- -5.92%
- 1Y
- -10.27%
- 3Y*
- -10.69%
- 5Y*
- -7.78%
- 10Y*
- -12.33%
- ALL TIME*
- -11.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $238.50M | $214.14M | $297.70M | |
| $0.00 | $0.00 | $0.00 |
ZIVB vs. SH - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF | 36.51% |
SH ProShares Short S&P500 | 1.93% |
Correlation
The correlation between ZIVB and SH is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 28, 2026 | 0.03 |
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Return for Risk
ZIVB vs. SH — Risk / Return Rank
ZIVB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SH
ZIVB vs. SH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB) 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.
| ZIVB | SH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.88 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.64 | — |
| Martin ratioReturn relative to average drawdown | — | -1.16 | — |
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Drawdowns
ZIVB vs. SH - Drawdown Comparison
The maximum ZIVB drawdown since its inception was 0.00%, smaller than the maximum SH drawdown of -94.66%. Use the drawdown chart below to compare losses from any high point for ZIVB and SH.
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Drawdown Indicators
| ZIVB | SH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | 0.00% | -94.66% | +94.66% |
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 | — | -74.80% | — |
Current DrawdownCurrent decline from peak | 0.00% | -94.50% | +94.50% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -67.91% | +67.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 8.91% | — |
Volatility
ZIVB vs. SH - Volatility Comparison
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Volatility by Period
| ZIVB | SH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.09% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.82% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 73.98% | 12.60% | +61.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.98% | 16.94% | +57.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.98% | 18.01% | +55.97% |
ZIVB vs. SH - Expense Ratio Comparison
ZIVB has a 1.35% expense ratio, which is higher than SH's 0.89% expense ratio.
Dividends
ZIVB vs. SH - Dividend Comparison
ZIVB's dividend yield for the trailing twelve months is around 4.73%, more than SH's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SH ProShares Short S&P500 | 4.15% | 4.49% | 6.20% | 5.37% | 1.08% | 0.00% | 0.16% | 1.76% | 1.01% | 0.06% |
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF | 4.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZIVB and SH have a correlation of 0.03, 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 1.35% for ZIVB.
ZIVB has the higher dividend yield at 4.73%, compared with 4.15% for SH.
They also come from different issuers: Volatility Shares and ProShares. Their fees differ too: 1.35% for ZIVB and 0.89% for SH.
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