Inverse/Short ETFs List by Market Cap & Expense Ratio (2024)

Our regularly updated inverse/short ETFs list shows you what ETFs are active and provides the ticker, market capitalization, and expense ratios.

Inverse or Short ETFs are exchange-traded funds that enable you to bet against a market, sector, or index. Typically, Short ETFs simplify shorting the market and incorporating leverage.

Inverse/Short ETFs List by Market Cap & Expense Ratio (1)

Table of Contents

What Are Inverse or Short ETFs?

Inverse or Short ETFs are exchange-traded funds (ETFs) that attempt to generate returns that correspond to a specified multiple of the inverse (-1x) or short (-2x, -3x, etc.) of the daily performance of an index. These funds can provide investors with effective hedging tools and gain exposure to bear markets when stocks and other financial assets are declining.

How Do Short ETFs Work?

Inverse or Short ETFs typically combine derivatives, such as futures contracts and swaps, to achieve their objectives. As ETFs can be purchased on any major exchange, investors can gain exposure to these bear-market strategies without needing to open a margin account or go through the process of shorting individual stocks.

The Best Short & Inverse ETFs

While no single “Best” short or inverse ETF exists, the best ETFs share the following traits. Firstly, they should have significant assets under management; secondly, they should have large enough trading volume to ensure liquidity; and lastly, they should have low management fees.

Our list of the best short and inverse ETFs includes the 10-day average trading volumes, the net assets under management, and the expense ratio.

5 Tips on ETFs That Short The Market?

1. Inverse ETFs Should be Traded on a Daily Basis?

All short or inverse ETFs have warnings that they should only be traded on a daily basis. Of course, you can hold them for longer than one day, but you will see mismatches in the return of the short ETF vs. the actual index over time.

Inverse ETFs Do Not Match the Index Performance Because:

  1. The underlying contracts supporting the Inverse ETFs must be rebalanced at the end of the trading day. This causes slippage.
  2. The volatility of an index will affect compounding, which affects the inverse ETF. For more information, see this Leveraged ETF FAQ.
  • Related Article: Our Resident ETF Trader Joe’s Leveraged ETF Strategy

2. Inverse ETFs Should Have Good Liquidity & Volume

It is important that if you purchase an Inverse ETF, you can sell it when you want to, for a price that is close to your target price. There are 244 Inverse/Leveraged ETFs on the US exchanges, and the average 10-day trading volume is 1.8 million shares per day. You will want to choose ETFs that average at least 500,000 traded per day.

3. Choose ETFs With Higher Assets Under Management

The median amount of Net Assets under management for leveraged and inverse ETFs is $50 million. It is wise to utilize ETFs with more than $100 million in assets managed; this helps with liquidity and the fund’s stability.

4. ETFs Should Have Low Expenses

Any Inverse or Leveraged ETF you trade should have lower expense ratios. Of the 244 ETFs in this study, the average expense ratio is 0.96%, but the range of expenses spanned from 1.85% to 0.35%. The largest, most liquid funds have an expense ratio between 0.95% and 1.07%, which is acceptable.

5. Use a Commission Free Broker to Minimize Costs

When purchasing ETFs, you should select a broker that enables you to buy and sell ETFs with $0 zero commissions. Firstrade has over 2,200 commission-free ETFs, the largest in the industry. Read the Firstrade Review or visit Firstrade.

Inverse/Short S&P 500 ETFs List

Short S&P 500 ETFsTickerNet Assets ($M)Expense RatioLeverage10-Day Volume (Avg)
ProShares Short S&P500SH$2,8640.90%1X10,014,473
ProShares UltraShort S&P500SDS$1,0910.91%2X10,768,469
ProShares UltraPro Short S&P500SPXU$8870.93%3X21,883,476
Direxion Daily S&P 500 Bear 3X SharesSPXS$7361.07%3X30,179,092
Direxion Daily S&P 500 Bear 1X SharesSPDN$1670.50%1X134,750
Direxion Daily S&P 500 High Beta Bear 3X SharesHIBS$451.07%3X1,340,846

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Inverse ETF Performance vs. The S&P 500

The long-term performance of inverse ETFs does not match the performance of the underlying index. This example shows a 1-year chart of the S&P 500 versus the ProShares UltraShort 2X Inverse leveraged ETF. This is the chart spanning the Corona Virus Crash.

Inverse/Short ETFs List by Market Cap & Expense Ratio (2)

Inverse/Short Nasdaq ETFs List

Inverse Nasdaq ETFsTickerNet Assets ($M)Expense RatioLeverage10-Day Volume (Avg)
ProShares UltraPro Short QQQSQQQ$1,5200.95%3X67,453,112
ProShares Short QQQPSQ$7740.95%1X4,373,616
ProShares UltraShort QQQQID$2830.95%2X10,253,212
ProShares UltraShort Nasdaq BiotechnologyBIS$120.95%2X41,206
ProShares UltraPro Short Nasdaq BiotechnologyZBIO$30.95%3X

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  • Related Article:

Dow Jones Short ETFs List

Dow Jones Short ETFsTickerNet Assets ($M)Expense RatioLeverage10-Day Volume (Avg)
ProShares UltraPro Short Dow30SDOW$5160.95%3X6,776,916
ProShares Short Dow30DOG$4080.95%1X665,817
ProShares UltraShort Dow30DXD$1600.95%2X1,453,146
Direxion Daily Dow Jones Internet Bear 3X SharesWEBS$51.07%3X6,395

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Short Russell & Mid Cap ETFs List

Short Russell ETFsTickerNet Assets ($M)Expense RatioLeverage10-Day Volume (Avg)
Direxion Daily Small Cap Bear 3X SharesTZA$5261.07%3X13,988,740
ProShares Short Russell2000RWM$4450.95%1X1,056,058
ProShares UltraPro Short Russell2000SRTY$1510.95%3X4,638,339
ProShares UltraShort Russell2000TWM$1140.95%2X1,597,720
ProShares Short MidCap400MYY$320.95%1X31,546
ProShares UltraPro Short MidCap400SMDD$130.95%3X33,262
ProShares Short SmallCap600SBB$120.95%1X3,894
ProShares UltraShort SmallCap600SDD$70.95%2X10,685
Direxion Daily Mid Cap Bear 3X SharesMIDZ$61.08%3X0
ProShares UltraShort MidCap400MZZ$40.95%2X7,170

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Short Oil ETFs List

Short Oil ETFsTickerNet Assets ($M)Expense RatioLeverage10-Day Volume (Avg)
ProShares UltraShort Bloomberg Crude OilSCO$800.95%2X2,838,394
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X SharesDRIP$491.07%2X366,216
MicroSectors U.S. Big Oil Index Inverse ETNsYGRN$310.95%1X267
ProShares UltraShort Oil & GasDUG$210.95%2X63,022

Short Gold ETFs List

Short Gold ETFsTickerNet Assets ($M)Expense RatioLeverage10-Day Volume (Avg)
Direxion Daily Gold Miners Index Bear 2X SharesDUST$1311.07%2X4,581,334
Direxion Daily Junior Gold Miners Index Bear 2X SharesJDST$941.10%2X5,423,593
ProShares UltraShort GoldGLL$271.32%2X35,139
DB Gold Double Short ETNDZZ$60.75%2X5,802
DB Gold Short ETNDGZ$30.75%2X1,863

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Short/Inverse International ETFs List

Short International ETFsTickerNet Assets ($M)Expense RatioLeverage10-Day Volume (Avg)
ProShares Short MSCI Emerging MarketsEUM$620.95%1X73,966
Direxion Daily MSCI Real Estate Bear 3X SharesDRV$401.08%3X173,320
Direxion Daily MSCI Emerging Markets Bear 3X SharesEDZ$351.08%3X197,446
ProShares UltraShort MSCI Brazil CappedBZQ$290.95%2X769,465
ProShares Short MSCI EAFEEFZ$280.95%1X15,882
ProShares UltraShort MSCI Emerging MarketsEEV$120.95%2X11,774

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List of All Short/Inverse ETFs By Expense Ratio & Capitalization

TickerCompanyExpense RatioMarket Cap ($M USD)
SPDNDirexion Daily S&P 500 Bear 1X Shares0.56%$372
TAILCambria Tail Risk ETF0.59%$186
EMTYProShares Decline of the Retail Store ETF0.65%$10
FAILCambria Global Tail Risk ETF0.71%$4
SARKAXS Short Innovation Daily ETF0.75%$242
DZZDB Gold Double Short ETN0.75%$5
DGZDB Gold Short ETN0.75%$3
CYASimplify Tail Risk Strategy ETF0.84%$17
SHProShares Short S&P5000.89%$1,857
SPXUProShares UltraPro Short S&P5000.90%$1,110
SDSProShares UltraShort S&P5000.90%$942
SQQQProShares UltraPro Short QQQ0.95%$4,743
PSQProShares Short QQQ0.95%$990
QIDProShares UltraShort QQQ0.95%$508
RWMProShares Short Russell20000.95%$363
DOGProShares Short Dow300.95%$216
FNGDMicroSectors FANG+ Index -3X Inverse Leveraged ETN0.95%$188
NRGDMicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETNs0.95%$166
SRTYProShares UltraPro Short Russell20000.95%$158
SCOProShares UltraShort Bloomberg Crude Oil0.95%$112
TWMProShares UltraShort Russell20000.95%$104
DXDProShares UltraShort Dow300.95%$83
EPVProShares UltraShort FTSE Europe0.95%$60
GDXDMicroSectors Gold Miners -3X Inverse Leveraged ETNs0.95%$60
SRSProShares UltraShort Real Estate0.95%$57
EFZProShares Short MSCI EAFE0.95%$55
REKProShares Short Real Estate0.95%$49
SEFProShares Short Financials0.95%$39
EUMProShares Short MSCI Emerging Markets0.95%$32
OILDMicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs0.95%$26
SBBProShares Short SmallCap6000.95%$25
FXPProShares UltraShort FTSE China 500.95%$21
SKFProShares UltraShort Financials0.95%$21
BERZMicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETNs0.95%$18
DUGProShares UltraShort Energy0.95%$18
BNKDMicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNs0.95%$12
MYYProShares Short MidCap4000.95%$12
BZQProShares UltraShort MSCI Brazil Capped0.95%$10
EEVProShares UltraShort MSCI Emerging Markets0.95%$8
SSGProShares UltraShort Semiconductors0.95%$7
YXIProShares Short FTSE China 500.95%$7
SMDDProShares UltraPro Short MidCap4000.95%$6
BISProShares UltraShort Nasdaq Biotechnology0.95%$5
EWVProShares UltraShort MSCI Japan0.95%$5
WTIDMicroSectors Energy -3X Inverse Leveraged ETN0.95%$5
REWProShares UltraShort Technology0.95%$4
DULLMicroSectors Gold -3X Inverse Leveraged ETN0.95%$3
EFUProShares UltraShort MSCI EAFE0.95%$3
JETDMAX Airlines -3X Inverse Leveraged ETN0.95%$3
SDDProShares UltraShort SmallCap6000.95%$3
SIJProShares UltraShort Industrials0.95%$3
MZZProShares UltraShort MidCap4000.95%$2
SCCProShares UltraShort Consumer Discretionary0.95%$2
SKYUProShares Ultra Cloud Computing0.95%$2
SMNProShares UltraShort Materials0.95%$2
SDOWProShares UltraPro Short Dow300.96%$479
SOXSDirexion Daily Semiconductor Bear 3X Shares1.02%$1,111
JDSTDirexion Daily Junior Gold Miners Index Bear 2X Shares1.02%$132
TZADirexion Daily Small Cap Bear 3X Shares1.03%$409
GGLSDirexion Daily GOOGL Bear 1X Shares1.06%$4
DUSTDirexion Daily Gold Miners Index Bear 2X Shares1.07%$152
HIBSDirexion Daily S&P 500 High Beta Bear 3X Shares1.07%$47
TSLSDirexion Daily TSLA Bear 1X Shares1.07%$46
AAPDDirexion Daily AAPL Bear 1X Shares1.07%$27
EDZDirexion Daily MSCI Emerging Markets Bear 3X Shares1.07%$24
MSFDDirexion Daily MSFT Bear 1X Shares1.07%$9
AMZDDirexion Daily AMZN Bear 1X Shares1.07%$5
SPXSDirexion Daily S&P 500 Bear 3X Shares1.08%$933
DRVDirexion Daily Real Estate Bear 3X Shares1.08%$138
YANGDirexion Daily FTSE China Bear 3X Shares1.08%$132
TECSDirexion Daily Technology Bear 3X Shares1.08%$120
WEBSDirexion Daily Dow Jones Internet Bear 3X Shares1.08%$34
ERYDirexion Daily Energy Bear 2X Shares1.08%$27
FAZDirexion Daily Financial Bear 3X Shares1.09%$149
LABDDirexion Daily S&P Biotech Bear 3X Shares1.09%$105
DRIPDirexion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares1.09%$61
TSLQAXS TSLA Bear Daily ETF1.15%$112
NVDSAXS 1.25X NVDA Bear Daily ETF1.15%$98
GLLProShares UltraShort Gold1.28%$17
ZSLProShares UltraShort Silver1.35%$21
DGLDFVelocityShares 3x Inverse Gold ETN Linked to the S&P GSCI Gold Index ER1.35%$4
KOLDProShares UltraShort Bloomberg Natural Gas1.37%$141
SVIX-1x Short VIX Futures ETF1.47%$71
DWSHAdvisorShares Dorsey Wright Short ETF2.77%$24
HDGEAdvisorShares Ranger Equity Bear ETF4.29%$123

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I am an expert in the field of exchange-traded funds (ETFs) with a deep understanding of various financial instruments, including inverse and short ETFs. My expertise is demonstrated through extensive knowledge of the concepts mentioned in the article you provided.

Inverse or Short ETFs are specialized exchange-traded funds designed to generate returns corresponding to the inverse (-1x) or short (-2x, -3x, etc.) of the daily performance of an index. These funds serve as effective hedging tools, allowing investors to gain exposure to bear markets when traditional stocks and financial assets are on the decline.

Short ETFs achieve their objectives by utilizing derivatives such as futures contracts and swaps. Unlike traditional shorting methods, investors can access bear-market strategies through ETFs without the need for a margin account or the complexities of shorting individual stocks.

The key characteristics of the best short and inverse ETFs, as highlighted in the article, include:

  1. Significant Assets Under Management (AUM): ETFs should have substantial AUM, indicating stability and liquidity.

  2. Large Trading Volume: Higher trading volume ensures liquidity, enabling investors to buy and sell at desired prices.

  3. Low Management Fees: The best ETFs generally have lower expense ratios, minimizing costs for investors.

  4. Daily Trading Basis: Inverse ETFs are recommended to be traded on a daily basis, although they can be held for longer periods. The article emphasizes potential mismatches in returns over time due to factors like daily rebalancing and index volatility.

  5. Good Liquidity & Volume: Liquidity is crucial, and the article suggests choosing ETFs with at least 500,000 shares traded per day.

  6. Higher Assets Under Management (AUM): ETFs with over $100 million in AUM are recommended for better liquidity and fund stability.

  7. Low Expenses: The average expense ratio for the studied ETFs is 0.96%, with a range from 0.35% to 1.85%. The article advises selecting ETFs with lower expense ratios.

  8. Commission-Free Broker: Choosing a broker with zero commissions for ETF trading, such as Firstrade, is recommended to minimize costs.

The article also provides lists of short/inverse ETFs for major indices like S&P 500, Nasdaq, Dow Jones, Russell, commodities like oil and gold, and international markets. These lists include key details such as ticker symbols, net assets, expense ratios, and leverage.

If you have any specific questions or if there's a particular aspect you'd like to explore further, feel free to ask.

Inverse/Short ETFs List by Market Cap & Expense Ratio (2024)


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