ProShares - Short High Yield
BThis 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.
$15.47+0.04 (+0.26%)
- 1.06%
- $54M
- +2.4%
- 3.23%
- 0.1M sh
- $15.43
- low $15.05high $15.71
The ETF.net SJB Grade
B
Score 69 out of 100
- 7 of 54
Score 69 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B63 out of 100Rank 20 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.A80 out of 100Rank 5 of 53Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A75 out of 100Rank 7 of 54Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A100 out of 100Rank 1 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B63 out of 100Rank 10 of 54
Our read on SJB
BMost inverse ETFs bet against stocks. SJB bets against credit, aiming to deliver -1x the daily move of a liquid high yield bond index. It has been running that single trade since 2011.
The fund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Markit iBoxx $ Liquid High Yield Index.
Why people hold it
- A straight -1x, no leverage stacked on top: a dollar of daily short exposure to the Markit iBoxx $ Liquid High Yield Index per dollar invested.proshares.com
- Shorting junk bonds outright means margin, borrow and swap paperwork. This packages the same directional exposure into an ordinary ETF share.proshares.com
- Charges 1.06% a year, below the typical expense ratio among leveraged and inverse bear funds.
- Trading since 2011, it is one of the longer-lived inverse credit funds and rates among the stronger builds in its bear-fund peer group.
Worth knowing
- The -1x target resets daily. Hold longer, especially through choppy markets, and results can drift from the inverse of the index move over that stretch.
- A small fund with moderate trading, so spreads and order size matter more here than with a headline index ETF.
- Being short a bond index means the coupon income that index earns works against the position rather than for it.
SJB Holdings
- Bonds
- 2
- 100%
- IQMM
Sectors
- Financials100.0%
Geography
- United States100.00%
SJB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SJB$10,238
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 | SJB |
|---|---|
| Year to date | +3.4% |
| 1 month | +1.6% |
| 3 months | +2.8% |
| 1 year | +2.4% |
| 3 years | −1.9% |
| 5 years | +0.3% |
| 10 years | −3.0% |
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 | SJB |
|---|---|---|
| 2026 YTD | +3.4% | |
| 2025 | −1.9% | |
| 2024 | −0.8% | |
| 2023 | −5.6% | |
| 2022 | +9.6% | |
| 2021 | −6.7% | |
| 2020 | −9.2% |
SJB in the news
SJB Dividends
- 3.23%
- $0.50
- $0.12 per share
- Quarterly
Distribution history
SJB 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.
- 4.5%
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.
- −1.29
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.
- −13.3%
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.
- −0.68
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SJB Cost
1.06%
SJB1.06%
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
18 of the 53 Leveraged Inverse (2x & Other) funds charge less.
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- BZSLProShares - UltraShort SilverExpense ratio 0.95%1 year return +90.1%
- BDXDProShares UltraShort Dow30Expense ratio 1.06%1 year return −21.0%
- BGLLProShares - UltraShort GoldExpense ratio 0.95%1 year return −19.4%