ProShares - Short Russell2000
$14.14+0.14 (+0.96%)
- Expense ratio
- 1.04%
- Fund size
- $145M
- 1Y return
- −13.4%
- Yield · Last 12 months
- 3.67%
- Holdings
- 12
- Volume · 30D
- 18.1M sh
- NAV per share
- $14.16
- 52W range
The ETF.net RWM Grade
Score 71 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 67Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 63Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 90Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 65Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 69Category rank
Our read on RWM
AThe single-speed bear on small caps. RWM aims to deliver the inverse of the Russell 2000's daily move, no leverage stacked on top, from a fund that has been running since 2007.
The fund seeks daily investment results, before fees and expenses, that correspond to the inverse of the Russell 2000 Index's daily performance.
Why people hold it
- One gear, not three. RWM targets -1x the Russell 2000's daily move, while same-index bear funds TWM, SRTY and TZA add leverage on top of the short.
- A 1.04% expense ratio sits on the cheaper side of the leveraged-and-inverse shelf, where fees generally run higher than plain index funds.
- One of the more heavily traded inverse equity funds, which typically shows up as narrow bid/ask spreads for short-dated tactical positions.
- Launched in 2007, so the structure has operated through multiple full market cycles, and it stands among the stronger implementations in its bear-fund peer group.
Worth knowing
- The exposure resets daily. Hold longer than a day and compounding means the return can drift from the simple inverse of the index over that stretch, especially in choppy markets.
- It is built to move opposite small caps, so it declines on days the Russell 2000 rises. This is a directional tool, not a core holding.
- The fee is many times what a plain small-cap index ETF charges, a cost that accrues for as long as the position is open.
RWM Holdings
- Stocks
- 12
- 100%
- IQMM
Sectors
- Financials100.0%
Geography
- United States100.00%
RWM Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | RWM |
|---|---|
| Year to date | −13.2% |
| 1 month | +4.6% |
| 3 months | +4.6% |
| 1 year | −13.4% |
| 3 years | −13.3% |
| 5 years | −5.3% |
| 10 years | −10.9% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | RWM |
|---|---|---|
| 2026 YTD | −13.2% | |
| 2025 | −9.4% | |
| 2024 | −5.9% | |
| 2023 | −10.5% | |
| 2022 | +18.3% | |
| 2021 | −17.9% | |
| 2020 | −31.0% |
RWM in the news
ETF.net Research hasn’t filed on RWM yet — coverage lands here as it’s written.
RWM Dividends
- 3.67%
- $0.51
- $0.14 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 24, 2026 | Jun 30, 2026 | $0.14 |
| Mar 25, 2026 | Mar 31, 2026 | $0.06 |
| Dec 24, 2025 | Dec 31, 2025 | $0.18 |
| Sep 24, 2025 | Sep 30, 2025 | $0.13 |
| Jun 25, 2025 | Jul 1, 2025 | $0.20 |
| Mar 26, 2025 | Apr 1, 2025 | $0.14 |
| Dec 23, 2024 | Dec 31, 2024 | $0.30 |
| Sep 25, 2024 | Oct 2, 2024 | $0.28 |
| Jun 26, 2024 | Jul 3, 2024 | $0.29 |
| Mar 20, 2024 | Mar 27, 2024 | $0.26 |
| Dec 20, 2023 | Dec 28, 2023 | $0.35 |
| Sep 20, 2023 | Sep 27, 2023 | $0.27 |
RWM Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 19.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.80
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −43.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −1.23
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
RWM Cost
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
16 of the 53 Leveraged Inverse (2x & Other) funds charge less.