{
 "ticker": "SBB",
 "name": "ProShares Short SmallCap600",
 "issuer": "ProShares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/SBB",
 "html": "https://etfiq.com/funds/SBB",
 "markdown": "https://etfiq.com/funds/SBB.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: SBB returned +2.0% where its own daily promise gave +0.3%, 1.7 points over.",
 "key_facts": [
  {
   "key": "what_ijr_did",
   "label": "What IJR did",
   "value": "\u22120.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SBB, what IJR did: \u22120.7%, as of Sep 11, 2026."
  },
  {
   "key": "what_1_times_a_day_gives",
   "label": "What \u22121 times a day gives",
   "value": "+0.3%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SBB, what \u22121 times a day gives: +0.3%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+2.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SBB, what the fund returned: +2.0%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_added",
   "label": "The fund itself added",
   "value": "+1.7 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SBB, the fund itself added: +1.7 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$4m",
   "source": "source, as filed for May 31, 2026",
   "as_of": "2026-09-11",
   "sentence": "SBB, net assets: $4m (source, as filed for May 31, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SBB, expense ratio: not read by ETFIQ, as of Sep 11, 2026."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-1 times the daily move of IJR, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "IJR moved \u22120.7% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "IJR",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "broad index, us small cap",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$4m",
   "source": "source, as filed for May 31, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 4, 2010",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "13% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+5.3%",
   "IJR": "\u22124.6%",
   "-1x the move": "+4.6%",
   "Difference": "+0.7 pts",
   "IJR moved about": "11%"
  },
  {
   "window": "3 months",
   "Fund": "+2.0%",
   "IJR": "\u22120.7%",
   "-1x the move": "+0.7%",
   "Difference": "+1.3 pts",
   "IJR moved about": "13%"
  },
  {
   "window": "6 months",
   "Fund": "\u221213.0%",
   "IJR": "+17.0%",
   "-1x the move": "\u221217.0%",
   "Difference": "+4.0 pts",
   "IJR moved about": "15%"
  },
  {
   "window": "1 year",
   "Fund": "\u221213.5%",
   "IJR": "+19.9%",
   "-1x the move": "\u221219.9%",
   "Difference": "+6.5 pts",
   "IJR moved about": "16%"
  },
  {
   "window": "3 years",
   "Fund": "\u221228.0%",
   "IJR": "+53.1%",
   "-1x the move": "\u221253.1%",
   "Difference": "+25.1 pts",
   "IJR moved about": "20%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221291.2%",
   "IJR": "+540.1%",
   "-1x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "IJR moved about": "22%"
  }
 ],
 "questions": [
  {
   "q": "Did SBB return -1 times IJR?",
   "a": "Over the window to Sep 11, 2026, IJR moved \u22120.7% and SBB returned +2.0%. 1 times that move is +0.7%, so the fund came out 1.3 points ahead of it."
  },
  {
   "q": "Why does SBB not return -1 times over a year?",
   "a": "Because it resets daily. SBB aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}