ProShares - UltraShort SmallCap600
FThis 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.
$9.33−0.01 (−0.16%)
- 4.67%
- $2M
- −31.3%
- 4.63%
- 0M sh
- $9.35
- low $7.79high $14.68
The ETF.net SDD Grade
F
Score 21 out of 100
- 50 of 54
Score 21 of 100 falls in the F 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
- 21
- This cap took
- −0
- Published Score
- 21
Cost
The fund’s net expense ratio, ranked against its category.F17 out of 100Rank 45 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.D38 out of 100Rank 36 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F7 out of 100Rank 54 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.D39 out of 100Rank 41 of 54
Our read on SDD
FA 2007-vintage bear tool aimed squarely at small caps: SDD seeks twice the inverse of the S&P SmallCap 600's daily move. Day-scale machinery, specialty-tool pricing, and a small footprint that shows up in how lightly it trades.
SDD seeks daily investment results corresponding to twice the inverse of the daily performance of the S&P SmallCap 600.
Why people hold it
- Small-cap-specific short exposure: it targets twice the inverse of the S&P SmallCap 600's daily move, not a broad-market or large-cap stand-in.
- Launched in 2007, it is one of the original leveraged and inverse ETFs, with a track record spanning multiple small-cap booms and busts.
- ProShares runs a 1x inverse fund on the same index (SBB), so the gear is a choice rather than double-or-nothing.
Worth knowing
- Leverage resets daily. Hold past a day and compounding takes over, so a week or a month can look nothing like twice the inverse of the index's move.
- Pricey by any measure: a 4.67% expense ratio against roughly 1.21% for the typical leveraged or inverse fund.
- A small, thinly traded fund. Spreads can widen when you need them tight, and subscale funds face higher odds of closure than big ones.
SDD Holdings
- Stocks
- 1
- 100%
- Net Other Assets (Liabilities)
SDD Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SDD$6,874
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 | SDD |
|---|---|
| Year to date | −23.2% |
| 1 month | +6.7% |
| 3 months | +12.9% |
| 1 year | −31.3% |
| 3 years | −26.1% |
| 5 years | −14.7% |
| 10 years | −25.8% |
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 | SDD |
|---|---|---|
| 2026 YTD | −23.2% | |
| 2025 | −14.8% | |
| 2024 | −13.6% | |
| 2023 | −26.0% | |
| 2022 | +20.5% | |
| 2021 | −46.6% | |
| 2020 | −55.1% |
SDD in the news
SDD Dividends
- 4.63%
- $0.43
- $0.06 per share
- Quarterly
Distribution history
SDD 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.
- 36.4%
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.
- −0.71
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.
- −72.0%
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.
- −2.00
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SDD Cost
4.67%
SDD4.67%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
43 of the 53 Leveraged Inverse (2x & Other) funds charge less.
Other funds in Leveraged Inverse (2x & Other)
- FSZKProShares - UltraShort Consumer StaplesExpense ratio 12.07%1 year return −15.2%
- FSMNProShares - UltraShort MaterialsExpense ratio 8.37%1 year return −23.4%
- FEFUProShares - UltraShort MSCI EAFEExpense ratio 7.29%1 year return −24.2%
- FTTXDDirexion Daily Technology Top 5 Bear 2X ETFExpense ratio 8.36%1 year return −51.6%
- FTSXDDirexion Daily Semiconductors Top 5 Bear 2X ETFExpense ratio 9.79%1 year return −75.9%