# SBB (ProShares Short SmallCap600)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: SBB returned +9.3% where its own daily promise gave +7.7%, 1.6 points over.

## Key facts

- SBB, what IJR did: −7.5%, as of Sep 30, 2026.
- SBB, what −1 times a day gives: +7.7%, as of Sep 30, 2026.
- SBB, what the fund returned: +9.3%, as of Sep 30, 2026.
- SBB, the fund itself added: +1.6 pts, as of Sep 30, 2026.
- SBB, net assets: $4m (issuer page, as of Sep 30, 2026).
- SBB, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## SBB over each window to Sep 30, 2026

| Window | Fund | IJR | -1x the move | Difference | IJR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +6.2% | −5.5% | +5.5% | +0.7 pts | 9% |
| 3 months | +9.3% | −7.5% | +7.5% | +1.9 pts | 12% |
| 6 months | −7.2% | +9.6% | −9.6% | +2.5 pts | 14% |
| 1 year | −10.7% | +16.0% | −16.0% | +5.3 pts | 16% |
| 3 years | −27.1% | +51.1% | −51.1% | +24.0 pts | 20% |
| Since launch | −90.8% | +514.6% | not meaningful over this window | not meaningful over this window | 22% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of IJR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.25 times, against -1 stated | ETFIQ |
| Underlying | IJR | ETFIQ |
| Segment | broad index, US small cap | ETFIQ |
| Net assets | $4m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 12% annualized | ETFIQ |

## Questions

### Did SBB return -1 times IJR?

Over the window to Sep 30, 2026, IJR moved −7.5% and SBB returned +9.3%. −1 times that move is +7.5%, so the fund came out 1.9 points ahead of it.

### Why does SBB not return -1 times over a year?

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.


## Cite this page

ETFIQ, SBB, data as of Sep 30, 2026. https://etfiq.com/funds/sbb
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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