SH vs FMHI

Comparison between ProShares Short S&P500 -1x Shares (SH, ETF) and FIRST TRUST MUNICIPAL HIGH INCOME ETF (FMHI, ETF).

5-Year PerformanceFMHI has outperformed SH, delivering a return of +0.8% compared to -8.8%

SH vs FMHI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SH(ETF)	FMHI(ETF)
Net Assets	$981M	$976M
Expense Ratio	0.89%	0.49%
Max Drawdown	96.05%	22.72%
Sharpe Ratio	-1.68	1.45
5Y Beta	-0.97	0.01
5Y Dividends CAGR	74.36%	4.06%

Net Assets

Winner

$981M

FMHI

$976M

Expense Ratio

0.89%

Winner

FMHI

0.49%

Max Drawdown

96.05%

Winner

FMHI

22.72%

Sharpe Ratio

-1.68

Winner

FMHI

1.45

5Y Beta

Winner

-0.97

FMHI

0.01

5Y Dividends CAGR

Winner

74.36%

FMHI

4.06%

SH vs FMHI - Historical Returns

Returns include dividend reinvestment.

Period	SH	FMHI
1 month	+0.27%	+1.67%
3 months	-11.22%	+2.60%
6 months	-6.31%	+3.23%
1 year	-15.73%	+8.04%
5 years(CAGR)	-8.76%	+0.81%
10 years(CAGR)	-12.84%	+3.23%
Max(CAGR)	-11.31%	+3.23%

+0.27%

Winner

FMHI

+1.67%

-11.22%

Winner

FMHI

+2.60%

-6.31%

Winner

FMHI

+3.23%

-15.73%

Winner

FMHI

+8.04%

5Y(CAGR)

-8.76%

Winner

FMHI

+0.81%

10Y(CAGR)

-12.84%

Winner

FMHI

+3.23%

Max(CAGR)

-11.31%

Winner

FMHI

+3.23%

SH vs FMHI - Annual Returns (2006 - 2026)

Returns include dividend reinvestment.

Year	SH	FMHI
2026	-6.75%	+2.85%
2025	-11.61%	+3.38%
2024	-14.04%	+5.52%
2023	-15.11%	+7.03%
2022	+19.65%	-14.59%
2021	-25.21%	+7.78%
2020	-24.36%	+3.92%
2019	-22.12%	+10.38%
2018	+5.67%	+2.32%
2017	-16.79%	+1.08%
2016	-13.78%	N/A
2015	-4.31%	N/A
2014	-14.42%	N/A
2013	-23.96%	N/A
2012	-14.45%	N/A
2011	-6.93%	N/A
2010	-15.20%	N/A
2009	-24.87%	N/A
2008	+36.95%	N/A
2007	+1.16%	N/A
2006	-8.42%	N/A

SH vs FMHI Drawdown Comparison

The maximum drawdown for SH was -94.66%, occurring on Jun 2, 2026. This drawdown has not yet recovered.

The maximum drawdown for FMHI was -18.83%, occurring on Oct 27, 2022. Recovery took 1008 trading sessions.

The current SH drawdown is -94.56%. The current FMHI drawdown is -0.01%.

Rank	SH	FMHI
#1	-94.66% Mar 9, 2009 - Jun 2, 2026	-18.83% Dec 30, 2021 - Jan 7, 2026
#2	-22.19% Nov 20, 2008 - Mar 2, 2009	-16.66% Mar 6, 2020 - Dec 17, 2020
#3	-17.15% Oct 27, 2008 - Nov 19, 2008	-2.35% Feb 26, 2026 - May 28, 2026
#4	-15.22% Jul 17, 2006 - Jan 18, 2008	-1.96% Jul 19, 2021 - Dec 30, 2021
#5	-11.46% Mar 10, 2008 - Jul 3, 2008	-1.92% Feb 12, 2021 - Apr 8, 2021
#6	-10.82% Oct 10, 2008 - Oct 24, 2008	-1.83% Aug 31, 2018 - Dec 26, 2018
#7	-7.60% Sep 17, 2008 - Sep 29, 2008	-1.76% Feb 22, 2018 - May 7, 2018
#8	-7.32% Jul 15, 2008 - Sep 15, 2008	-1.73% Jan 3, 2018 - Feb 22, 2018
#9	-6.38% Jan 22, 2008 - Mar 7, 2008	-1.40% Aug 30, 2019 - Oct 8, 2019
#10	-3.12% Jun 27, 2006 - Jul 13, 2006	-1.02% Dec 7, 2017 - Jan 3, 2018
#11	-2.77% Sep 29, 2008 - Oct 2, 2008	-0.80% Oct 8, 2019 - Nov 26, 2019
#12	-2.48% Mar 3, 2009 - Mar 5, 2009	-0.62% Apr 11, 2019 - Apr 18, 2019
#13	-1.85% Jul 7, 2008 - Jul 9, 2008	-0.59% Jul 31, 2018 - Aug 13, 2018
#14	-1.66% Sep 15, 2008 - Sep 17, 2008	-0.52% May 7, 2018 - May 25, 2018
#15	-0.65% Jul 9, 2008 - Jul 11, 2008	-0.49% Aug 23, 2018 - Aug 31, 2018

Correlation

Correlation between SH and FMHI is -0.81 which considered as a strong negative correlation - the stocks tend to move in opposite directions.

-0.81

-101

Dividend Comparison (2006 - 2026)

SH vs FMHI dividend yield comparison.

Year	SH	FMHI
2026	0.54%	1.81%
2025	4.49%	4.16%
2024	6.20%	4.01%
2023	5.37%	3.89%
2022	1.08%	3.57%
2021	0.00%	2.87%
2020	0.16%	3.13%
2019	1.76%	3.33%
2018	1.01%	3.46%
2017	0.06%	0.30%
2008	17.52%	0.00%
2007	3.81%	0.00%
2006	1.86%	0.00%