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ETFs

ProShares UltraShort Materials

SMN
$—
Today’s Change
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Snapshot
*

Inception Date
Jan 30, 2007
Expense Ratio
0.95%
Type
US Equities
Fund Owner
ProShares
Volume (1m avg. daily)
$67,768
AUM
$2,079,056
Associated Index
S&P Materials Select Sector Index
Inverse/Leveraged
Inverse (-2x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

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Derivatives offset
198.38%
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Net Other Assets (Liabilities)
100%
Invest with SMN
Trade SMN Options

What is SMN?

ProShares UltraShort Materials seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the S&P Materials Select Sector Index.

1M
3M
6M
YTD
1Y
3Y
Max
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SMN
Performance Measures**

for the time period Feb 2, 2007 to Jan 16, 2026

Returns

1M Trailing Return: -14.6%

The percent change in the value over the most recent 1-month period.

3M Trailing Return: -17.6%

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -99.8%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 49.7%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: -0.35

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: -0.26

The annualized return divided by the max drawdown for the selected time period.

ETFs related toSMN

ETFs correlated to SMN include TZA, RWM, TWM

SMN
ProShares Trust - ProShares UltraShort Materials
TZA
Direxion Shares ETF Trust - Direxion Daily Small Cap Bear 3X Shares
RWM
ProShares Trust - ProShares Short Russell2000 -1x Shares
TWM
ProShares Trust - ProShares UltraShort Russell2000 -2x Shares
SRTY
ProShares Trust - ProShares UltraPro Short Russell2000 -3x Shares
EFZ
ProShares Trust - ProShares Short MSCI EAFE -1X Shares
SH
ProShares Trust - ProShares Short S&P500 -1x Shares
SDS
ProShares Trust - ProShares UltraShort S&P500 -2x Shares
SPXU
ProShares Trust - ProShares UltraPro Short S&P 500
DOG
ProShares Trust - ProShares Short Dow30 -1x Shares
SPXS
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bear -3X Shares

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Trading Strategies
Related toSMN

Layered Risk Algorithm - Primary Risk Appetite Test = European Financials ETF vs. Insurance ETF

Category

Macro regime-switching, multi-asset rotation, volatility timing, bond regime detection, commodity/currency overlays, inflation/stagflation filter

OOS Cumulative Return

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Project Shiny Christmas - Christmas 2023 Competition Entry

Category

Tactical sector rotation, RSI gating, leveraged 2x ETFs, volatility targeting, Treasuries momentum, UVXy hedge

OOS Cumulative Return

123.48%

Create your own algorithmic trading strategy with SMN using Composer

FAQ

SMN is a US Equities ETF. ProShares UltraShort Materials seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the S&P Materials Select Sector Index.

SMN tracks the S&P Materials Select Sector Index.

No, SMN is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, SMN is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on SMN is 0.0382%. This is the percent change in the value of SMN over the most recent 1-month period. The 3-month return on SMN is 0.0468%. This is the percent change in the value of SMN over the most recent 3-month period.

The standard deviation of SMN for the past year is 0.4205%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to SMN include UYM, TQQQ, and SSO.

ETFs correlated to SMN include TZA, RWM, and TWM.

ETFs that are inversely correlated to SMN include IYM, XLB, and VAW.

Yes, SMN is a Inverse (-2x) ETF: This means that SMN will try to match the performance of S&P Materials Select Sector Index, but with 2x the returns.

Yes, SMN is a Inverse (-2x) leveraged ETF: This means that SMN will try to match the performance of S&P Materials Select Sector Index, but move 2x in the opposite direction.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.