SMN
SMN is the ProShares UltraShort Basic Materials ETF. It seeks to provide two times the inverse (-2x) daily performance of the Dow Jones U.S. Basic Materials Index. The fund aims to deliver amplified returns in the opposite direction of the index.
Asset Summary
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Asset Performance Metrics and Risk Characteristics:
Metrics below use daily returns for Jan 1, 2026 – Aug 17, 2026 (YTD).
Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.
1 Month Trailing Return
-7.94%
Represents the percentage change in asset value over the past month.
3 Month Trailing Return
79.24%
Indicates the percentage change in asset value over the last three months.
Period Max Drawdown
26.49%
The highest percentage drop from the peak value to the lowest point during the observed period.
Standard Deviation
132.12%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
Sharpe Ratio
0.92
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
Calmar Ratio
4.57
The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.
Asset Technical Analysis
Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. Using indicators such as moving averages, pivot levels, momentum studies, and candlestick pattern scans can clarify trend strength and volatility. The tabs below summarize moving averages, pivots, technical indicators, candlestick patterns, and recent prices for this symbol.
Analysis
Moving Averages
Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:
| Type/Period | |
|---|---|
| SMA | |
| EMA | |
| WMA | |
| WEMA |
- SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
- EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
- WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
- WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.
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Unlock Full Potential NowFrequently Asked Questions
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Historical performance includes data on past returns, both positive and negative, based on the fund’s objective to deliver -2x the daily performance of the Dow Jones U.S. Basic Materials Index. Historical performance should be reviewed with the understanding that past results do not guarantee future performance.
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SMN can be purchased through brokerage accounts like other ETFs. It is traded on major stock exchanges, and investors can buy shares through a broker or trading platform.
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SMN is managed by ProShares. The fund uses financial instruments such as futures contracts, swaps, and other derivatives to achieve its leveraged inverse exposure. The fund aims to achieve its performance objective on a daily basis, which means it is designed for short-term trading and may not be suitable for long-term investors.
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Factors include changes in the underlying Dow Jones U.S. Basic Materials Index, market volatility, interest rates, and the performance of the leveraged instruments used in the fund. The fund’s performance is also influenced by the daily rebalancing of leverage.
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The liquidity of SMN is determined by its trading volume and bid-ask spread. Generally, higher trading volumes indicate better liquidity, which can facilitate easier entry and exit from positions.
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Key performance metrics include the fund's daily return relative to its target (which is -2x the performance of the Dow Jones U.S. Basic Materials Index), tracking error, and volatility. Performance is typically evaluated on a daily basis, and long-term performance may differ due to the effects of compounding.
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While technically possible, SMN is generally not recommended for retirement accounts due to its high volatility and leverage. It is more suited for short-term trading rather than long-term investing.
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SMN generally does not distribute dividends. As an inverse leveraged ETF, its primary focus is on achieving its daily performance objectives rather than providing income through dividends.
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In market downturns, SMN is designed to gain value when the Dow Jones U.S. Basic Materials Index falls. Due to its leveraged inverse strategy, it aims to provide amplified returns in the opposite direction of the index. However, its performance can be volatile and may not always align perfectly with the inverse multiple of the index's daily return.
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Similar ETFs include: SRS (ProShares UltraShort Real Estate): Provides -2x the daily performance of the Dow Jones U.S. Real Estate Index. SH (ProShares Short S&P 500): Provides -1x the daily performance of the S&P 500 Index. SQQQ (ProShares UltraPro Short QQQ): Provides -3x the daily performance of the NASDAQ-100 Index.
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Disclaimers
The information displayed on this site is sourced from third-party providers and is believed to be reliable. OHLCX has not independently verified this data and does not guarantee its accuracy. Content is for educational and informational purposes only and is not financial or investment advice.
With any investment, your capital is at risk. Past performance is no guarantee of future results. Consult your provider's terms and privacy policies where applicable.
Market data is provided in near real-time when available, but we do not guarantee its accuracy or timeliness.
Securities products are: Not FDIC insured · Not bank guaranteed · May lose value
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