inverse_etf_monthly
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-09-22, from can-german-retail-investors-short-stocks.
| month | spy_return_pct | inverse_etf_return_pct | mirror_gap_pct |
|---|---|---|---|
| 2025-01 | 2.94 | -2.38 | 0.56 |
| 2025-02 | -0.6 | 1.1 | 0.5 |
| 2025-03 | -4.18 | 3.7 | -0.48 |
| 2025-04 | -1.15 | -0.07 | -1.22 |
| 2025-05 | 5.54 | -4.81 | 0.73 |
| 2025-06 | 4.24 | -4.84 | -0.6 |
| 2025-07 | 2.34 | -1.66 | 0.68 |
| 2025-08 | 3.75 | -3.07 | 0.68 |
| 2025-09 | 4.05 | -4.67 | -0.62 |
| 2025-10 | 2.04 | -1.49 | 0.55 |
| 2025-11 | 0.01 | 0.36 | 0.37 |
| 2025-12 | 0.24 | -1.31 | -1.07 |
- Rows × columns
- 12 × 4
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
month |
text | 12 distinct values (2025-01, 2025-02, 2025-03…) | |
spy_return_pct |
number | -4.18 to 5.54 | percent |
inverse_etf_return_pct |
number | -4.84 to 3.7 | percent |
mirror_gap_pct |
number | -1.22 to 0.73 | percent |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
SELECT
formatDateTime(toStartOfMonth(date), '%Y-%m') AS month,
round((argMaxIf(toFloat64(close), date, ticker = 'SPY')
/ argMinIf(toFloat64(close), date, ticker = 'SPY') - 1) * 100, 2) AS spy_return_pct,
round((argMaxIf(toFloat64(close), date, ticker = 'SH')
/ argMinIf(toFloat64(close), date, ticker = 'SH') - 1) * 100, 2) AS inverse_etf_return_pct,
round(spy_return_pct + inverse_etf_return_pct, 2) AS mirror_gap_pct
FROM global_markets.stocks_daily_aggs
WHERE ticker IN ('SPY', 'SH')
AND date >= '2025-01-01'
AND date < '2026-01-01'
GROUP BY month
ORDER BY month