FHEQ vs SH
Comparison between FIDELITY HEDGED EQUITY ETF (FHEQ, ETF) and ProShares Short S&P500 -1x Shares (SH, ETF).
FHEQ vs SH - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
FHEQ
$929M
SH
$928M
Expense Ratio
Winner
FHEQ
0.48%
SH
0.89%
Max Drawdown
Winner
FHEQ
11.49%
SH
96.15%
Sharpe Ratio
Winner
FHEQ
1.13
SH
-1.33
5Y Beta
FHEQ
0.59
Winner
SH
-0.97
P/E Ratio
FHEQ
24.81
SH
N/A
Forward P/E
FHEQ
20.05
SH
N/A
PEG Ratio
FHEQ
0.18
SH
N/A
5Y EPS CAGR
FHEQ
33.39%
SH
N/A
Debt to Equity
FHEQ
42.82%
SH
N/A
P/S Ratio
FHEQ
4.21
SH
N/A
P/B Ratio
FHEQ
5.90
SH
N/A
FHEQ vs SH - Historical Returns
Returns include dividend reinvestment.
1M
Winner
FHEQ
+1.70%
SH
-1.85%
3M
Winner
FHEQ
+2.91%
SH
-1.98%
6M
Winner
FHEQ
+10.48%
SH
-8.32%
1Y
Winner
FHEQ
+16.43%
SH
-13.45%
5Y(CAGR)
FHEQ
N/A
SH
-8.21%
10Y(CAGR)
FHEQ
N/A
SH
-12.54%
Max(CAGR)
Winner
FHEQ
+14.67%
SH
-11.31%
FHEQ vs SH - Annual Returns (2006 - 2026)
Returns include dividend reinvestment.
| Year | FHEQ | SH |
|---|---|---|
| 2026 | +10.19% | -8.54% |
| 2025 | +13.41% | -11.61% |
| 2024 | +10.57% | -14.04% |
| 2023 | N/A | -15.11% |
| 2022 | N/A | +19.65% |
| 2021 | N/A | -25.21% |
| 2020 | N/A | -24.36% |
| 2019 | N/A | -22.12% |
| 2018 | N/A | +5.67% |
| 2017 | N/A | -16.79% |
| 2016 | N/A | -13.78% |
| 2015 | N/A | -4.31% |
| 2014 | N/A | -14.42% |
| 2013 | N/A | -23.96% |
| 2012 | N/A | -14.45% |
| 2011 | N/A | -6.93% |
| 2010 | N/A | -15.20% |
| 2009 | N/A | -24.87% |
| 2008 | N/A | +36.95% |
| 2007 | N/A | +1.16% |
| 2006 | N/A | -8.42% |
FHEQ vs SH Drawdown Comparison
The maximum drawdown for FHEQ was -11.12%, occurring on Apr 21, 2025. Recovery took 134 trading sessions.
The maximum drawdown for SH was -94.75%, occurring on Aug 13, 2026. This drawdown has not yet recovered.
The current FHEQ drawdown is -1.76%. The current SH drawdown is -94.66%.
| Rank | FHEQ | SH |
|---|---|---|
| #1 | -11.12% Dec 6, 2024 - Jun 24, 2025 | -94.75% Mar 9, 2009 - Aug 13, 2026 |
| #2 | -7.77% Feb 2, 2026 - Apr 17, 2026 | -22.19% Nov 20, 2008 - Mar 2, 2009 |
| #3 | -5.40% Jul 16, 2024 - Aug 23, 2024 | -17.15% Oct 27, 2008 - Nov 19, 2008 |
| #4 | -4.31% Oct 28, 2025 - Dec 11, 2025 | -15.22% Jul 17, 2006 - Jan 18, 2008 |
| #5 | -4.09% Jun 2, 2026 - Aug 3, 2026 | -11.46% Mar 10, 2008 - Jul 3, 2008 |
| #6 | -3.60% Aug 23, 2024 - Sep 19, 2024 | -10.82% Oct 10, 2008 - Oct 24, 2008 |
| #7 | -3.13% Apr 11, 2024 - May 14, 2024 | -7.60% Sep 17, 2008 - Sep 29, 2008 |
| #8 | -2.44% Oct 6, 2025 - Oct 24, 2025 | -7.32% Jul 15, 2008 - Sep 15, 2008 |
| #9 | -2.30% Dec 24, 2025 - Feb 2, 2026 | -6.38% Jan 22, 2008 - Mar 7, 2008 |
| #10 | -2.11% Aug 13, 2026 - Aug 20, 2026 | -3.12% Jun 27, 2006 - Jul 13, 2006 |
| #11 | -2.10% Oct 14, 2024 - Nov 6, 2024 | -2.77% Sep 29, 2008 - Oct 2, 2008 |
| #12 | -2.03% Nov 11, 2024 - Dec 2, 2024 | -2.48% Mar 3, 2009 - Mar 5, 2009 |
| #13 | -2.01% Dec 11, 2025 - Dec 24, 2025 | -1.85% Jul 7, 2008 - Jul 9, 2008 |
| #14 | -1.84% Jul 25, 2025 - Aug 8, 2025 | -1.66% Sep 15, 2008 - Sep 17, 2008 |
| #15 | -1.71% May 14, 2026 - May 26, 2026 | -0.65% Jul 9, 2008 - Jul 11, 2008 |
Correlation
Correlation between FHEQ and SH is -0.99 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.
-0.99
-101
Dividend Comparison (2006 - 2026)
FHEQ vs SH dividend yield comparison.
| Year | FHEQ | SH |
|---|---|---|
| 2026 | 0.30% | 1.54% |
| 2025 | 0.63% | 4.49% |
| 2024 | 0.50% | 6.20% |
| 2023 | 0.00% | 5.37% |
| 2022 | 0.00% | 1.08% |
| 2020 | 0.00% | 0.16% |
| 2019 | 0.00% | 1.76% |
| 2018 | 0.00% | 1.01% |
| 2017 | 0.00% | 0.06% |
| 2008 | 0.00% | 17.52% |
| 2007 | 0.00% | 3.81% |
| 2006 | 0.00% | 1.86% |
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