SDS vs SH
ProShares UltraShort S&P500 vs ProShares Short S&P500
Which is better, SDS or SH?
Nearly the same fund. SH costs less.
SH has a lower expense ratio. SH led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SDS | SH |
|---|---|---|
| Expense Ratio | 0.91% | 0.88%Best |
| AUM | $348M | $964M |
| Dividend Yield | 5.19% | 3.92% |
| Holdings | 20 | 16 |
| YTD Return | -19.15% | -8.49%Best |
| 1Y Return | -23.19% | -10.36%Best |
| 3Y Return (annualized) | -29.75% | -13.82%Best |
| 5Y Return (annualized) | -20.88% | -8.55%Best |
| Volatility (annualized) | 28.1% | 14.9%Best |
| Max Drawdown | - | -95.5% |
| $10,000 over 5 years | $3,100 | $6,396Best |
| Fund Family | ProShares | ProShares |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Jul 11, 2006 | Jun 19, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jul 13, 2006 to Oct 14, 2026 (20.3 years).
SDS vs SH growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20.3 years both funds cover.
SDS vs SH Performance
ProShares UltraShort S&P500 (SDS) is an ETF from ProShares and ProShares Short S&P500 (SH) is an ETF from ProShares. Over the past year SDS returned -23.19% while SH returned -10.36%. Year to date, SDS is down 19.15% versus a loss of 8.49% for SH.
Over three years, SDS compounded at -29.75% per year against -13.82% for SH; over five years the annualized figures are -20.88% and -8.55% respectively. Across the full 20-year window we track, SH has the edge at -12.48% annualized vs -26.09%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SDS has been the more volatile fund, with annualized monthly volatility of 28.1% compared with 14.9% for SH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SDS charges 0.91% per year while SH charges 0.88%. On a $10,000 position that is $91 vs $88 annually, a gap of $3 per year that compounds over a long holding period. On income, SDS currently yields 5.19% against 3.92% for SH.
Holdings Overlap
We hold position weights for 1 holding in SDS and 1 in SH, totalling 93.5% and 87.7% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 1 positions we hold weights for in SDS and 1 in SH, against full books of 20 and 16.
Top Shared Holdings
| Stock | Weight in SDS | Weight in SH | Difference |
|---|---|---|---|
| IQMMProshares Genius Mny Mkt Etf | 93.48% | 87.68% | 5.80% |
You are not choosing between two funds in isolation.
Whichever of SDS and SH you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SDS or SH?
SDS has an expense ratio of 0.91% while SH charges 0.88%. SH is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, SDS or SH?
Over the past year SDS returned -23.19% vs -10.36% for SH, so SH leads on 1-year performance. Over the longest common window we track (20 years), SDS annualized -26.09% vs -12.48% for SH. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SDS or SH?
SDS has been the more volatile fund at 28.1% annualized versus 14.9% for SH.
Should I hold both SDS and SH?
SDS and SH have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, SDS or SH?
SDS yields 5.19% while SH yields 3.92%, so SDS currently pays the higher dividend yield.
Is SH better than SDS?
SH has a lower expense ratio. SH led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.