SH trading strategies, backtested
ProShares Short S&P500 — -1x daily S&P 500 — the simplest index hedge. Every DeployQuant template run on SH over 5.5 years of minute data, same engine, same window, sorted by return.
| Strategy | CAGR | max DD | Sharpe | trades | win rate | final value |
|---|---|---|---|---|---|---|
| RSI(2) Dip Snapback | −0.2% | −22.3% | 0.02 | 164 | 53% | $9,872 |
| Drawdown Dip Buyer + 8% Target | −1.5% | −23.1% | -0.20 | 2 | 100% | $9,206 |
| SMA 10/50 Trend | −2.2% | −19.6% | -0.13 | 13 | 23% | $8,844 |
| 20-Day Momentum + Trailing Stop | −2.3% | −18.0% | -0.23 | 4 | 25% | $8,782 |
| Golden Cross (SMA 50/200) | −2.4% | −28.6% | -0.17 | 6 | 33% | $8,744 |
| EMA 12/26 Trend | −3.1% | −20.4% | -0.20 | 18 | 28% | $8,404 |
| RSI(14) Mean Reversion | −4.7% | −29.1% | -0.40 | 13 | 46% | $7,649 |
| 200-Day SMA Regime Filter | −4.7% | −29.9% | -0.36 | 24 | 17% | $7,646 |
| 3-Month Momentum Switch | −5.0% | −29.5% | -0.43 | 8 | 25% | $7,524 |
| SMA-200 Trend + 15% Trailing Stop | −8.0% | −45.4% | -0.56 | 7 | 29% | $6,302 |
| First-to-Last Day of Month | −8.7% | −42.3% | -0.52 | 67 | 36% | $6,043 |
| Weekly Entry + 7% Target | −10.1% | −46.7% | -0.66 | 128 | 9% | $5,556 |
| Buy & hold SH | −9.9% | −46.2% | -0.59 | — | — | $5,610 |
Build it from blocks (or type it in English), backtest it on 5.5 years of minute data in seconds, tweak any parameter, then paper trade it on live data. No card, no broker needed to start.
Frequently asked questions
What was the best strategy for SH?
Of the 12 templates tested on SH over 2021-01-04–2026-07-17, the strongest by CAGR was RSI(2) snapback at −0.2% (max drawdown 22.3%), versus −9.9% for buy-and-hold. Best-in-hindsight is not a forecast — check drawdowns and trade counts before drawing conclusions.
Did any strategy beat buying and holding SH?
11 of 12 templates beat SH buy-and-hold (−9.9% CAGR) on this window; 11 of 12 had a shallower maximum drawdown than holding (46.2%).
Other inverse etfs
Backtests are hypothetical, computed by DeployQuant's engine on minute-resolution consolidated US market data (2021-01-04 to 2026-07-17, $10,000 starting capital, no margin, fees and slippage not modeled) and do not guarantee future results. Nothing on this page is investment advice. Live trading involves risk of loss.