ProShares Short S&P500 (SH) is trading at $34.45, which is -94.4% below its all-time high of $613.46. The Drawdown Severity Score is 16.4, placing it in the red (severe) zone. Over its tracked history, SH has experienced 15 significant drawdown events with an average maximum drawdown of -7.5%.
Data last updated: May 1, 2026 at 02:29 AM EDT
SH
StockProShares Short S&P500
Price
$34.45
as of Apr 30, 2026
All Time High: $613.46
Historic
Current Drawdown
-94.4%
Days in Drawdown
6261
Avg Max Drawdown
7.5%
Avg Length
63
Drawdown Severity Score™
16.4
SH - Price & High Water Mark
SH - Drawdown Timeline
How to read this chart: Negative values indicate drawdowns from all-time highs. Values closer to 0% mean the stock is near its high water mark.
ProShares Short S&P500 (SH) Analysis: Current Drawdown Insights
ProShares Short S&P500 is currently experiencing an unusual drawdown opportunity. As of 2026-04-30, the stock is trading at $34.45, which represents a 94.4% decline from its all-time high of $613.46. This drawdown has persisted for 6261 days.
Based on comprehensive historical analysis spanning 14 years, ProShares Short S&P500 typically experiences drawdowns averaging 7.5% in depth, with an average duration of 63 days. ProShares Short S&P500 has gone through 15 total drawdown events in the last 14 years. The largest drawdown for ProShares Short S&P500 in the last 14 years was 22.1%. The longest drawdown duration in its history was 550 days.
The Drawdown Severity Score™ for ProShares Short S&P500 currently stands at 16.37. This is our proprietary indicator that shows the relative severity of the current drawdown based on the asset's unique historical patterns. A score above 12.0 indicates a historic, once-in-a-decade event—an extraordinarily rare drawdown that may represent a possible generational buying opportunity or signal fundamental changes worth investigating.
Understanding Drawdowns: A drawdown measures how far a stock has fallen from its peak price. Every stock experiences drawdowns—periods when the price declines from all-time highs before recovering. By analyzing ProShares Short S&P500's historical drawdown patterns, investors can identify when the stock is experiencing a typical market fluctuation versus an unusual decline that may represent a buying opportunity.
📜 Historical Drawdown Events
Current drawdown shown in blue. Complete record of all 15 historical pullbacks below.
| Start Date | End Date | Duration | Max Depth | Start Price | Lowest Price | Recovery Price |
|---|---|---|---|---|---|---|
| 2009-03-09 | Ongoing | 6261 days | -94.4% | $613.46 | $34.45 | — |
| 2009-03-04 | 2009-03-05 | 2 days | -2.5% | $597.52 | $582.70 | $605.95 |
| 2008-11-21 | 2009-03-02 | 102 days | -22.1% | $588.23 | $458.42 | $592.85 |
| 2008-10-28 | 2008-11-19 | 23 days | -17.2% | $546.05 | $452.39 | $550.99 |
| 2008-10-13 | 2008-10-24 | 12 days | -10.8% | $522.21 | $465.73 | $530.16 |
| 2008-09-30 | 2008-10-03 | 4 days | -4.4% | $434.23 | $414.93 | $437.07 |
| 2008-09-18 | 2008-09-29 | 12 days | -7.6% | $422.96 | $390.80 | $434.23 |
| 2008-09-16 | 2008-09-17 | 2 days | -1.5% | $410.22 | $403.99 | $422.96 |
| 2008-07-16 | 2008-09-15 | 62 days | -7.2% | $408.57 | $379.08 | $410.22 |
| 2008-07-10 | 2008-07-11 | 2 days | -0.7% | $398.16 | $395.55 | $400.82 |
| 2008-07-08 | 2008-07-09 | 2 days | -1.9% | $397.48 | $390.12 | $398.16 |
| 2008-03-11 | 2008-07-03 | 115 days | -11.5% | $392.95 | $347.91 | $393.74 |
| 2008-01-23 | 2008-03-07 | 45 days | -6.4% | $384.91 | $360.33 | $387.55 |
| 2006-07-18 | 2008-01-18 | 550 days | -15.2% | $375.60 | $318.49 | $378.72 |
| 2006-06-28 | 2006-07-13 | 16 days | -3.1% | $372.62 | $360.99 | $372.83 |
| 2006-06-26 | 2006-06-27 | 2 days | -0.3% | $370.60 | $369.43 | $372.62 |
How to read: Each row shows a complete drawdown from peak to recovery. Red rows = most severe drawdowns (worst 20% or 5x+ average), yellow rows = moderate (2x-5x worse than average).
Don't Miss the Next Rare Buying Opportunity
See 9 real alerts from the past 5 years with actual returns
Average gain: +979% • Real alerts • Real results
Or explore current opportunities:
What History Says About SH
ProShares Short S&P500 has dropped 5%+ from its high 8 times in its tracked history. These events lasted an average of 115 days with an average max drop of -12.2%.
The current drawdown of -94.4% has lasted 6,261 days, which is 54.4x the average duration of comparable events.
| Period | Max Drop | Duration |
|---|---|---|
| Nov 2008 to Mar 2009 | -22.1% | 102 days |
| Oct 2008 to Nov 2008 | -17.2% | 23 days |
| Jul 2006 to Jan 2008 | -15.2% | 550 days |
| Mar 2008 to Jul 2008 | -11.5% | 115 days |
| Oct 2008 to Oct 2008 | -10.8% | 12 days |
| Sep 2008 to Sep 2008 | -7.6% | 12 days |
Learn More About Drawdowns
What is a Drawdown?
Definition, formula, and real examples
Understanding Severity Scores
How our scoring compares to maximum drawdown
Our Methodology
Technical details behind the data
The Drawdown Severity Score
Our proprietary scoring algorithm explained
Latest Analysis
Blog posts and market commentary
Explore All Tickers
Browse stocks, ETFs, and crypto drawdowns