diff --git a/.changeset/dollar-anchor-case.md b/.changeset/dollar-anchor-case.md
new file mode 100644
index 0000000..3485940
--- /dev/null
+++ b/.changeset/dollar-anchor-case.md
@@ -0,0 +1,5 @@
+---
+'intersphinx': patch
+---
+
+Expand the `$` uri anchor shorthand with the object name verbatim (case-preserved), matching Sphinx semantics. Previously the expansion was lowercased and whitespace-replaced, which broke links to any case-distinct targets (e.g. `re.Match` vs `re.match` in the CPython inventory, and capitalized glossary terms like `#term-Match`).
diff --git a/src/intersphinx.ts b/src/intersphinx.ts
index fa5f1ca..95a3bdd 100644
--- a/src/intersphinx.ts
+++ b/src/intersphinx.ts
@@ -152,9 +152,11 @@ export class Inventory {
       resolvedLocation = resolvedLocation.slice(1);
     }
     if (resolvedLocation.endsWith('$')) {
-      // Maybe move this to the parse function only?
-      resolvedLocation =
-        resolvedLocation.slice(0, -1) + entry.name.toLowerCase().replace(/\s+/g, '-');
+      // Sphinx semantics: `$` is replaced by the object name *verbatim*.
+      // Case must be preserved: e.g. `re.match` (function) and `re.Match`
+      // (class) are distinct objects with distinct anchors.
+      // https://github.com/sphinx-doc/sphinx/blob/v8.2.3/sphinx/util/inventory.py#L154
+      resolvedLocation = resolvedLocation.slice(0, -1) + entry.name;
     }
     const resolvedDisplay =
       !entry.display || entry.display.trim() === '-' ? undefined : entry.display.trim();
diff --git a/src/inventory.spec.ts b/src/inventory.spec.ts
index 3421e3a..84786df 100644
--- a/src/inventory.spec.ts
+++ b/src/inventory.spec.ts
@@ -22,4 +22,36 @@ describe('Test Inventory', () => {
     expect(entry?.location?.includes('abc.html')).toBe(true);
     expect(entry?.type).toBe('std:doc');
   });
+  test('`$` anchor shorthand expands to the name verbatim (Sphinx semantics)', () => {
+    const inv = new Inventory({ id: 'test', path: 'https://example.org' });
+    // Sphinx only writes `$` when the anchor ends with the name byte-for-byte,
+    // so the expansion must preserve case exactly:
+    // re.match (function) and re.Match (class) are distinct targets.
+    inv.setEntry({ type: 'py:function', name: 're.match', location: 'library/re.html#$' });
+    inv.setEntry({ type: 'py:class', name: 're.Match', location: 'library/re.html#$' });
+    // A capitalized glossary term: Sphinx writes `Match std:term -1 index.html#term-$ -`
+    // and its real HTML anchor is `id="term-Match"` — also case-preserved.
+    inv.setEntry({ type: 'std:term', name: 'Match', location: 'index.html#term-$' });
+    expect(inv.getEntry({ name: 're.match' })?.location).toBe(
+      'https://example.org/library/re.html#re.match',
+    );
+    expect(inv.getEntry({ name: 're.Match' })?.location).toBe(
+      'https://example.org/library/re.html#re.Match',
+    );
+    expect(inv.getEntry({ type: 'std:term', name: 'Match' })?.location).toBe(
+      'https://example.org/index.html#term-Match',
+    );
+  });
+  test('Python inventory - case sensitive names', async () => {
+    // Python 3.11 includes both `class Match` and `def match()` as targets
+    const inv = new Inventory({ path: 'https://docs.python.org/3.11' });
+    await inv.load();
+    expect(inv._loaded).toBe(true);
+    const entryClass = inv.getEntry({ name: 're.Match' });
+    expect(entryClass?.location?.endsWith('re.Match')).toBe(true);
+    expect(entryClass?.type).toBe('py:class');
+    const entryFunc = inv.getEntry({ name: 're.match' });
+    expect(entryFunc?.location?.endsWith('re.match')).toBe(true);
+    expect(entryFunc?.type).toBe('py:function');
+  });
 });