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SBB

Short SmallCap600

Investment Objective

ProShares Short SmallCap600 seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the S&P SmallCap 600®.

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Important Considerations

This short ProShares ETF seeks a return that is -1x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next.

Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return, and ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks.

Investors should monitor their holdings as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.

Common uses for inverse exposure

  • Seek to profit from a market decline

  • Help to hedge against an expected decline

  • Underweight exposure to a market segment

Documents & Downloads
Fund Fact Sheet
This links to a pdf file This link opens a new window
Annual Report
This links to a pdf file This link opens a new window
Semi Annual Report
This links to a pdf file This link opens a new window
NAV History
This links to a pdf file This link opens a new window

You may order paper copies by contacting ProShares Client Services at 866-PRO-5125 (866-776-5125)

Performance

Daily Return during Q2 2023

Chart is updated nightly to reflect the more recent of the previous day's market closing price or the closing price on the day the fund was last traded.

Total Return

Month-End Total Returns as of 5/31/2023
Fund + Index 1m 3m 6m YTD 1Y 3Y 5Y 10Y Since Inception Inception Date
SBB Market Price 2.03% 11.54% 10.48% 3.55% 7.28% -16.05% -9.17% -12.11% -12.51% 01/23/2007
SBB NAV 2.27% 11.42% 11.38% 3.64% 7.63% -15.99% -9.11% -12.12% -12.50% 01/23/2007

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see above.

About the Fund

Snapshot
  • Ticker SBB
  • Intraday Ticker SBB.IV
  • CUSIP 74348A376
  • Inception Date 1/23/07
  • Expense Ratio 0.95%*
  • Gross Expense Ratio 2.32%
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Price
as of 6/08/2023
  • NAV $17.78
  • NAV Change $+0.12 up caret
  • Market Price $0.00
  • Market Price Change $0.00
  • Trading Volume (M) 0
  • 30-Day Median Bid Ask Spread 0.00%
  • View Premium / Discount
Snapshot
  • Ticker SBB
  • Intraday Ticker SBB.IV
  • CUSIP 74348A376
  • Inception Date 1/23/07
  • Expense Ratio 0.95%*
  • Gross Expense Ratio 2.32%
  • NAV Calculation Time 4:00 p.m. ET
  • Distributions Quarterly
Price
as of 6/08/2023
  • NAV $17.78
  • NAV Change $+0.12 up caret
  • Market Price $0.00
  • Market Price Change $0.00
  • Trading Volume (M) 0
  • 30-Day Median Bid Ask Spread 0.00%
  • View Premium / Discount

The expense ratio above has a contractual waiver ending 9/30/23.

Exposures

Index as of 3/31/2023

Holdings

as of 6/07/2023

Weight Ticker Description Exposure Value
(Notional + GL)		 Market Value Shares/Contracts SEDOL Number
-- -- NET OTHER ASSETS (LIABILITIES) -- $27,707,206.37 27,707,206 --
-4.36% -- S&P SMALLCAP 600 INDEX SWAP MORGAN STANLEY & CO. INTERNATIONAL PLC -1,206,968 -- -990 --
-12.10% -- S&P SMALLCAP 600 INDEX SWAP UBS AG -3,352,690 -- -2,750 --
-18.33% -- S&P SMALLCAP 600 INDEX SWAP BANK OF AMERICA NA -5,077,801 -- -4,165 --
-25.38% -- S&P SMALLCAP 600 INDEX SWAP CITIBANK NA -7,030,896 -- -5,767 --
-39.83% -- S&P SMALLCAP 600 INDEX SWAP SOCIETE GENERALE -11,034,617 -- -9,051 --
Download Holdings (.csv)This links to a pdf fileThis link opens a new window

Index

as of 3/31/2023

  • Total Number of Companies602
  • Price/Earnings Ratio12.709
  • Price/Book Ratio1.761
  • Dividend Yield ( % )1.92
  • Avg. Index Market Capitalization$1.65 billion
About the Index

The S&P SmallCap 600 Index covers the small-cap segment of the U.S. equities market, covering approximately 3% of the U.S. equities market.

Distributions

For

2023
  • 2023
  • 2022
  • 2020
  • 2019
  • 2018
Ex-Dividend Date Record Date Payable Date Dividend Long-Term Capital Gain Short-Term Capital Gain Return of Capital

Portfolio Hedging Series

Part I: The Significance of Portfolio Hedging

Investing involves risk. Market downturns will happen. Having a sound investment strategy can help smooth out the turbulence in your portfolio and save you from getting caught up in a herd mentality of selling low into a down market.
Read More

Part II: Strategies for Hedging Your Portfolio

Part III: The Efficacy of Hedging with Inverse ETFs
Get the latest perspectives and updates.

For the total return table above, since inception returns are cumulative for funds less than one year old; otherwise, returns are annualized. Market returns are based on the composite closing price and do not represent the returns you would receive if you traded shares at other times. The listing date is typically one or more days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the listing date.

The expense ratio for certain funds includes a contractual fee waiver that results in a lower net expense ratio for some or all periods shown. For information about this ETF’s fees, please see above.

Holdings are subject to change. ProShares may invest in financial instruments (including derivatives) that, in combination, should have daily price return characteristics similar to the fund's benchmark.

Registered Investment Companies are required by the IRS to distribute substantially all of their income and capital gains to shareholders at least annually. For specific tax advice, we recommend you speak with a qualified tax professional.

This short ProShares ETF seeks a return that is -1x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return and ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multiples and in funds with volatile benchmarks. Investors should monitor their holdings as frequently as daily. Investors should consult the prospectus for further details on the calculation of the returns and the risks associated with investing in this product.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the fund. Market price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET (when NAV is normally determined for most funds) and do not represent the returns you would receive if you traded shares at other times. Your brokerage commissions will reduce returns. Current performance may be lower or higher than the performance quoted. For standardized returns and performance data current to the most recent month end, see above.

Index information does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged, and one cannot invest directly in an index.

There is no guarantee that distributions will not be made in the future. There is no guarantee that dividends or interest income will be paid.

There is no guarantee any ProShares ETF will achieve its investment objective.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.

Investing involves risk, including the possible loss of principal. Short ProShares ETFs are non-diversified and entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. Short ProShares ETFs should lose money when their benchmarks rise. Please see their summary and full prospectuses for a more complete description of risks.

Investments in smaller companies typically exhibit higher volatility. Small- and mid-cap companies may have limited product lines or resources, may be dependent upon a particular market niche and may have greater fluctuations in price than the stocks of larger companies. Small- and mid-cap companies may lack the financial and personnel resources to handle economic or industry-wide setbacks and, as a result, such setbacks could have a greater effect on small- and mid-cap security prices.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

The ""S&P SmallCap 600®" is a product of S&P Dow Jones Indices LLC and its affiliates and has been licensed for use by ProShares. "S&P®" is a registered trademark of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates. ProShares have not been passed on by S&P Dow Jones Indices LLC and its affiliates as to their legality or suitability. ProShares based on the S&P SmallCap 600 are not sponsored, endorsed, sold, or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates, and they makes no representation regarding the advisability of investing in ProShares. THESE ENTITIES AND THEIR AFFILIATES MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO PROSHARES.

Quote data provided by Interactive Data - Real Time Services, Inc. and subject to terms of use.

ProShares ETFs (ProShares Trust and ProShares Trust II) are distributed by SEI Investments Distribution Co., which is not affiliated with the funds' advisor or sponsor.

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