SH ETF — ProShares Short S&P500

ProShares Short S&P500 (SH)

Updated October 12, 2026.

SH is an ETF. its distribution rate is 3.72%, its trailing-12-month yield is 4.00%, its expense ratio is 0.88%. Total return is -91.2% over the past 20.3 years, 892.4 points behind SPY at 801.2%.

ProShares Short S&P 500 is an ETF that provides inverse exposure to the S&P 500, designed to deliver daily returns opposite to the index's performance using financial instruments such as derivatives. The fund carries a moderate current distribution rate and distributes quarterly, with an expense ratio of 0.88%. This ETF appeals to traders and investors seeking short-term bearish exposure or hedging strategies against broad U.S. equity market declines, though it is not suitable as a long-term buy-and-hold investment due to daily rebalancing effects.

SH performance versus SPY

Price and return data through 2026-10-12.

Total return is -91.2% over the past 20.3 years, 892.4 points behind SPY at 801.2%. Over the past year its total return — price change plus distributions reinvested — is -12.6%. Its deepest 1-year drawdown was 17.5%.

SH key facts

Issuer

ProShares

Asset type

ETF

Asset class

Equity

Inception date

06/19/2006

Expense ratio

0.88%

Distribution rate

3.72%

Distribution frequency

Quarterly

Trailing yield

4.00%

Last close

$31.82 (stale; as of 2026-10-12)

AUM

$979,651,135

Average volume

4532823.0

Dividend

$0.29627

Ex-dividend date

09/23/2026

Payment date

09/29/2026

Beta

-0.95

How Dividend Vision calculates yield and returns

Distribution rate (3.72%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (4.00%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: ProShares; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

SH risks and drawbacks

SH's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 17.5%.

Who may consider SH — and who may not

SH may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (SH pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from ProShares.