IVV vs SH
iShares Core S&P 500 ETF vs ProShares Short S&P500
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | SH | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.89% | |
| AUM | $907.0B | $835M | |
| Dividend Yield | 1.10% | 4.19% | |
| Holdings | 508 | 16 | |
| YTD Return | +14.50% | -10.10% | |
| 1Y Return | +22.02% | -13.55% | |
| 3Y Return (annualized) | +21.80% | -13.24% | |
| 5Y Return (annualized) | +13.37% | -8.86% | |
| Volatility (annualized) | 15.1% | 14.9% | |
| Max Drawdown | -56.5% | -95.5% | |
| Fund Family | iShares by BlackRock (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Jun 19, 2006 |
IVV vs SH Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and ProShares Short S&P500 (SH) is a ETF from ProShares. Over the past year IVV returned +22.02% while SH returned -13.55%. Year to date, IVV is up 14.50% versus a loss of 10.10% for SH.
Over three years, IVV compounded at +21.80% per year against -13.24% for SH; over five years the annualized figures are +13.37% and -8.86% respectively. Across the full 20-year window we track, IVV has the edge at +7.07% annualized vs -12.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.9% for SH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -95.5% for SH. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.96. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while SH charges 0.89%. On a $10,000 position that is $3 vs $89 annually, a gap of $86 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 4.19% for SH.
Frequently Asked Questions
Which is cheaper, IVV or SH?
IVV has an expense ratio of 0.03% while SH charges 0.89%. IVV is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, IVV or SH?
Over the past year IVV returned +22.02% vs -13.55% for SH, so IVV leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.07% vs -12.55% for SH. Past performance does not guarantee future results.
Which is riskier, IVV or SH?
IVV has been the more volatile fund at 15.1% annualized versus 14.9% for SH. Worst drawdown: IVV -56.5% vs SH -95.5%.
Should I hold both IVV and SH?
IVV and SH have a monthly-return correlation of -0.96, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, IVV or SH?
IVV yields 1.10% while SH yields 4.19%, so SH currently pays the higher dividend yield.
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