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SH · ProShares Short S&P 500
Over the last 15 years (2011-10 to 2026-10), $10,000 invested in SH with dividends reinvested grew to $1,150, -13.36% a year, with a worst peak-to-trough fall of -88.59%. Past performance doesn't predict future results.
Growth of $10,000 · 2011-10 to 2026-10 · dividends reinvested
How SH held up in past market crashes
SH has been through 4 of the market crashes since 2000 in our data. Its deepest price fall was 32.8% in the 2008 financial crisis, when the S&P 500 fell 56.5%. Its price had not yet regained that high by the latest close (price only, not counting the dividends or interest it paid). No fund is safe from losses; past falls do not predict future ones.
| Crash | SH deepest fall | S&P 500 (SPY) | Peak to bottom | Back to peak |
|---|---|---|---|---|
| 2008 financial crisis | -32.8% | -56.5% | Nov 2008 to Jan 2009 | Not yet |
| 2018 fourth-quarter selloff | -6.1% | -20.2% | Oct 2018 to Nov 2018 | 1 months |
| 2020 COVID crash | -9.2% | -34.1% | Mar 2020 to Mar 2020 | Under a month |
| 2022 bear market | -15.2% | -25.4% | Jun 2022 to Aug 2022 | 1 months |
Price declines in the fund's listing currency, dividends not included, inside each crash's S&P 500 peak-to-bottom window. See how 50 popular ETFs compare in the crash study.
About SH
ProShares Short S&P 500 is an inverse exchange-traded fund designed to deliver the daily opposite performance of the S&P 500 Index. The fund provides a simple way to gain broad U.S. equity market short exposure through a portfolio that uses derivatives rather than direct stock borrowing.
Fund description from our market-data provider.
Put SH to the test
Every tool below opens prefilled with SH: free, no account needed.
Backtest SH →
Full history, any date range, benchmarks, drawdowns, rolling returns.
Would SH survive 2008? →
What actually happened to it in the crisis: real drawdown and recovery.
Project it forward →
Monte Carlo simulation of where it could go from here.
Compare SH vs VTI →
Side by side with the total US market: returns, drawdowns and volatility over their shared history.
Replay $100/mo into SH →
Animated growth of steady monthly contributions.
Fundamentals →
Holdings-level financials where available.
Educational use only, not investment advice. Results are hypothetical.Read full disclaimer
This tool is for educational and informational purposes only and does not provide financial, investment, tax, legal, or accounting advice. Results are hypothetical and based on historical data and assumptions that may be inaccurate. Past performance does not guarantee future results. Consult a licensed professional before making investment decisions.