ProShares - Short SmallCap600
CThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$23.82−0.02 (−0.07%)
- 2.28%
- $4M
- −14.9%
- 3.28%
- 0M sh
- $23.84
- low $21.76high $29.56
The ETF.net SBB Grade
C
Score 40 out of 100
- 31 of 54
Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 41
- This cap took
- −1
- Published Score
- 40
Cost
The fund’s net expense ratio, ranked against its category.D30 out of 100Rank 38 of 54Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B61 out of 100Rank 15 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C43 out of 100Rank 31 of 54Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C44 out of 100Rank 32 of 54
Our read on SBB
CThe plain-vanilla short on small caps: one line, no leverage multiplier, aiming for the inverse of the S&P SmallCap 600's daily move. It has been doing that one job since 2007.
The Fund seeks daily investment results, before fees and expenses, that correspond to the inverse of the daily performance of the S&P SmallCap 600 Index.
Why people hold it
- A straight -1x: it aims for the inverse of the S&P SmallCap 600's daily return, with no leverage multiplier stacked on top. Simpler math than geared bear funds.proshares.com
- Running since 2007, a long tenure for an inverse equity fund, with the same one-day-at-a-time mandate the whole way.
- The cheaper of the two ProShares bear funds built on this index: 2.28% a year here versus 4.67% for SDD.
- Short exposure through an ordinary brokerage account: no margin agreement, no borrowing shares, and a share can't cost you more than you paid for it.proshares.com
Worth knowing
- The target resets daily. Over longer holds, compounding pulls results away from the simple inverse of the index, most of all in choppy markets.proshares.com
- Fees are 2.28% a year, roughly double the typical bear-fund charge, so a long hold pays real rent.
- Small asset base and light trading: spreads can widen and size can move the price, so the entry ticket matters as much as the thesis.
SBB Holdings
- Stocks
- 1
- 100%
- Net Other Assets (Liabilities)
SBB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SBB$8,508
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SBB |
|---|---|
| Year to date | −10.8% |
| 1 month | +3.6% |
| 3 months | +7.0% |
| 1 year | −14.9% |
| 3 years | −11.0% |
| 5 years | −4.3% |
| 10 years | −11.0% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SBB |
|---|---|---|
| 2026 YTD | −10.8% | |
| 2025 | −3.6% | |
| 2024 | −3.7% | |
| 2023 | −10.5% | |
| 2022 | +13.7% | |
| 2021 | −25.4% | |
| 2020 | −26.5% |
SBB in the news
SBB Dividends
- 3.28%
- $0.78
- $0.19 per share
- Quarterly
Distribution history
SBB Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 18.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.72
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −39.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −1.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SBB Cost
2.28%
SBB2.28%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
36 of the 53 Leveraged Inverse (2x & Other) funds charge less.
Other funds in Leveraged Inverse (2x & Other)
- CMYYProShares - Short MidCap400Expense ratio 2.22%1 year return −11.1%
- CQQDNProShares - UltraShort QQQ MegaExpense ratio 1.12%1 year return −30.0%
- CYXIProShares - Short FTSE China 50Expense ratio 2.65%1 year return +12.9%
- DSCCProShares UltraShort Consumer DiscretionaryExpense ratio 4.44%1 year return +1.5%
- DFXPProShares - UltraShort FTSE China 50Expense ratio 1.79%1 year return +18.4%