SMN vs SPAM

Comparison between ProShares UltraShort Materials (SMN, ETF) and THEMES CYBERSECURITY ETF (SPAM, ETF).

SMN vs SPAM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SMN(ETF)	SPAM(ETF)
Net Assets	$3.10M	$3.20M
Expense Ratio	N/A	0.35%
Max Drawdown	99.96%	24.39%
Sharpe Ratio	-0.98	0.62
5Y Beta	-1.50	1.04
P/E Ratio	N/A	192.35
Forward P/E	N/A	28.09
5Y EPS CAGR	N/A	10.58%
Debt to Equity	N/A	31.97%

Net Assets

SMN

$3.10M

Winner

SPAM

$3.20M

Expense Ratio

SMN

N/A

SPAM

0.35%

Max Drawdown

SMN

99.96%

Winner

SPAM

24.39%

Sharpe Ratio

SMN

-0.98

Winner

SPAM

0.62

5Y Beta

Winner

SMN

-1.50

SPAM

1.04

P/E Ratio

SMN

N/A

SPAM

192.35

Forward P/E

SMN

N/A

SPAM

28.09

5Y EPS CAGR

SMN

N/A

SPAM

10.58%

Debt to Equity

SMN

N/A

SPAM

31.97%

SMN vs SPAM - Historical Returns

Returns include dividend reinvestment.

Period	SMN	SPAM
1 month	-6.51%	+3.95%
3 months	-13.96%	+26.03%
6 months	-26.36%	+21.67%
1 year	-32.35%	+18.90%
5 years(CAGR)	-19.01%	N/A
10 years(CAGR)	-25.88%	N/A
Max(CAGR)	-30.16%	+18.04%

SMN

-6.51%

Winner

SPAM

+3.95%

SMN

-13.96%

Winner

SPAM

+26.03%

SMN

-26.36%

Winner

SPAM

+21.67%

SMN

-32.35%

Winner

SPAM

+18.90%

5Y(CAGR)

SMN

-19.01%

SPAM

N/A

10Y(CAGR)

SMN

-25.88%

SPAM

N/A

Max(CAGR)

SMN

-30.16%

Winner

SPAM

+18.04%

SMN vs SPAM - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	SMN	SPAM
2026	-22.36%	+25.66%
2025	-20.89%	+4.91%
2024	+3.00%	+13.62%
2023	-23.21%	+5.42%
2022	-4.94%	N/A
2021	-46.34%	N/A
2020	-56.52%	N/A
2019	-32.46%	N/A
2018	+36.08%	N/A
2017	-38.23%	N/A
2016	-39.97%	N/A
2015	+16.14%	N/A
2014	-14.64%	N/A
2013	-32.88%	N/A
2012	-22.43%	N/A
2011	-1.22%	N/A
2010	-51.23%	N/A
2009	-75.87%	N/A
2008	-4.89%	N/A
2007	-40.32%	N/A

SMN vs SPAM Drawdown Comparison

The maximum drawdown for SMN was -99.95%, occurring on Feb 11, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPAM was -24.02%, occurring on Feb 23, 2026. Recovery took 151 trading sessions.

The current SMN drawdown is -99.95%. The current SPAM drawdown is -10.63%.

Rank	SMN	SPAM
#1	-99.95% Nov 20, 2008 - Feb 11, 2026	-24.02% Oct 9, 2025 - May 18, 2026
#2	-63.23% Mar 5, 2007 - Oct 6, 2008	-22.21% Feb 18, 2025 - Jun 26, 2025
#3	-42.86% Oct 27, 2008 - Nov 20, 2008	-13.19% Feb 9, 2024 - Oct 9, 2024
#4	-27.84% Oct 10, 2008 - Oct 24, 2008	-12.04% Jun 1, 2026 - Jun 10, 2026
#5	-9.85% Feb 9, 2007 - Mar 2, 2007	-7.63% Jun 30, 2025 - Sep 9, 2025
#6	-1.24% Oct 7, 2008 - Oct 9, 2008	-6.53% Dec 4, 2024 - Feb 4, 2025
#7	-1.12% Feb 2, 2007 - Feb 9, 2007	-6.00% Dec 26, 2023 - Jan 12, 2024
#8	N/A	-4.77% Nov 11, 2024 - Nov 26, 2024
#9	N/A	-4.49% Oct 14, 2024 - Nov 6, 2024
#10	N/A	-3.89% May 26, 2026 - May 29, 2026
#11	N/A	-2.31% Jan 29, 2024 - Feb 7, 2024
#12	N/A	-2.01% Sep 22, 2025 - Oct 2, 2025
#13	N/A	-1.95% Dec 19, 2023 - Dec 26, 2023
#14	N/A	-1.93% Oct 6, 2025 - Oct 8, 2025
#15	N/A	-1.76% Jan 12, 2024 - Jan 22, 2024

Correlation

Correlation between SMN and SPAM is -0.45 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.45

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