ProShares Short Basic Materials
SBM
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- ProShares Short Basic Materials (SBM) is an exchange-traded fund that seeks daily investment results corresponding to the inverse (-1x) of the daily performance of the Dow Jones U.S. Basic Materials Index. The fund invests in financial instruments, including derivatives such as swaps, that ProShare Advisors LLC believes will produce returns consistent with the fund's investment objective; it provides exposure to companies involved in the production of metals, chemicals, paper products, and other basic materials through a short strategy targeting growth and value stocks across diversified market capitalizations in the United States public equity markets. Launched on March 16, 2010, and domiciled in the United States, SBM is managed by ProShare Advisors LLC, with ProShares Trust as the issuer and headquarters located at 7501 Wisconsin Avenue, Suite 1000E, Bethesda, MD 20814. The fund primarily serves investors seeking to hedge or speculate against declines in the U.S. basic materials sector. In a significant operational change, ProShares announced in March 2022 the liquidation and closure of SBM along with several other underperforming ETFs, with trading halted on May 3, 2022, and creation/redemption orders ceasing on May 2, 2022, following an ongoing review of its product lineup. Despite this closure, trading data indicates residual activity as of late 2025, including a share price around $46.38, average daily volume of 362 shares, and a market cap of approximately $1.85 million, with 52-week highs of $55.15 and lows of $42.85. No recent partnerships, funding rounds, acquisitions, relaunches, or new product developments specific to SBM have been reported within the last 1-2 years, though ProShares continues to innovate in its broader ETF offerings, such as dynamic buffer ETFs launched in June 2025.