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SHProShares Short S&P500

Take a bet20y track recordRanked #29 of 775 in this goal

Seeks daily investment results equal to -1x the daily performance of the S&P 500.

By ProShares · Launched 2006

Annual Cost

0.89%

#4,486 of 5,562 · expensive

Fund Size

$981M

#1,131 of 5,562 · large

Return (1Y)Goal

-15.0%

Track Record

20 years

#326 of 5,562 · established

Performance

Total-return NAV · USD
Growth of $10,000
$8,562-14.4%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Equity

Strategy

Inverse

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 119.9% of fundconcentrated

United States of America
53.0%
United States of America
25.5%
United States of America
19.3%
United States of America
4.8%
United States of America
4.8%
Repurchase Agreement
4.5%
Repurchase Agreement
3.1%
Repurchase Agreement
2.7%
Repurchase Agreement
1.1%
Repurchase Agreement
1.1%

Asset allocation

Cash
182.2%
Bonds
9.8%
Other
7.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
12.4%Moderate

Year-on-year price swings

Max drawdown
-76.1%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-1.04Below average
Sortino (3Y)
-1.42Moderate downside risk

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily investment results equal to -1x the daily performance of the S&P 500.
Strategy
Invests in financial instruments to achieve inverse exposure to at least 80% of total assets in the S&P 500 Index. Uses derivatives like swaps and futures, rebalancing daily to maintain target exposure.
Inception date
June 19, 2006
Fund family
ProShares

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Inverse
Warning

Inverse ETF — daily tool only

Delivers the inverse of the benchmark's daily return. The compounding path makes multi-day holding unpredictable even when the benchmark's total move goes your way. Legitimate as a one-day hedge; dangerous as a view.

Source: Cheng & Madhavan (2009)

Why we flagged this: strategy=inverse + inverse_name_or_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19