CWEB vs ROM: Grades, Fees and Holdings Compared

Direxion Daily CSI China Internet Index Bull 2X ETF

CWEBDNYSE Arca

ProShares Ultra Technology

ROMANYSE Arca

Overlap

0.0%by weight

Expense ratio

ROM −0.34pt a year

CWEB1.27%ROM0.93%

Avg volume · 30D

CWEB 13.5×the volume

CWEB641KROM47.7K

5Y return · a year

ROM +55.9pt

CWEB−38.2%ROM+17.7%

CWEB vs ROM Performance

Oct 29, 2021 – Oct 30, 2026

−91.0%CWEB+126.1%ROM

Expense ratio: CWEB 1.27%; ROM 0.93%, better
Fund size: CWEB $143M; ROM $1.15B
1Y total return: CWEB −68.0%; ROM +26.5%, better
Yield (12M): CWEB 9.61%, better; ROM 0.03%
Holdings: CWEB 8; ROM 85
Avg volume (30D): CWEB 641K sh, better; ROM 47.7K sh
NAV per share: CWEB $15.72; ROM $132.18
52W range

ETF.net Grade

Pillar letters and Scores for CWEB, ROM, with each pillar’s weight
Pillar	CWEB	ROM
Cost30% weight	F10	A70Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	F18	B56Higher
Tradability15% weight	B62	A88Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	A71	A81Higher

Rank among Leveraged Long (2x & Other) funds

How we build Categories ›

Same Category. CWEB and ROM are both graded against the same 95 Leveraged Long (2x & Other) funds, so their Grades compare head to head.

Leveraged Long (2x & Other)⁠

Category · 95 funds

See all 95 ›

ROM ranks 3rd and CWEB 86th of 95 funds in the Leveraged Long (2x & Other) Category.

Rank 1AQLDProShares Ultra QQQScore 77
Rank 2AUYGProShares Ultra FinancialsScore 74
Rank 3AROMProShares Ultra TechnologyScore 71
Rank 4BDDMProShares Ultra Dow30Score 69
Rank 84DFDRXCorgi Founder-Led 2x Daily ETFScore 30
Rank 86DCWEBDirexion Daily CSI China Internet Index Bull 2X ETFScore 28
Rank 86DTARKTradr 2X Long Innovation ETFScore 28

Our read on each fund

ETF.net Research

CWEBDDirexion Daily CSI China Internet Index Bull 2X ETF

ROMAProShares Ultra Technology

In short

CWEB Two times the daily move of an index of China's overseas-listed internet names. Direxion has run it since 2016, and the leverage resets every day, so a week's result rarely equals twice the week.

ROM The original 2x tech trade. Since 2007, ROM has aimed at twice the daily move of the S&P 500's technology sector: a double dose in a category now stacked with triples.

Stated mandate

CWEB The fund seeks daily investment results, before fees and expenses, equal to 200% of the CSI Overseas China Internet Index's performance.

ROM ROM seeks daily investment results, before fees and expenses, corresponding to twice the daily performance of the S&P Technology Select Sector SM Index.

Why people hold it

CWEB A rare corner of the leveraged shelf: 2x daily exposure to the CSI Overseas China Internet Index, not another US large-cap tracker.direxion.com
2x, not 3x. Same daily-reset math as the triple-leveraged crowd (FAS, UDOW), with half the amplification on each move.direxion.com
Actively traded, which is what matters in a tool designed to be held for days rather than decades.
Trading since 2016, a long operating record for a leveraged fund pointed at a single country and a single sector.

ROM Two times, not three. A 2x daily target means smaller swings and less compounding drag than a 3x fund chasing the same sector.sec.gov
Live since January 2007, so it has run through the 2008 crash and the full tech cycle since. Long mileage is rare in geared funds.
0.93% a year, flat, with no waiver propping it up. Peer QLD runs 0.89%, but only net of a waiver through September 30, 2027.
One of the strongest implementations in the leveraged-bull pack, from an issuer that has run geared funds since the category's early days.proshares.com

Worth knowing

CWEB 1.27% a year, above the roughly 1.04% median for leveraged bull funds. The fee accrues daily, alongside the leverage.
The leverage resets each session. Hold past one day and returns compound away from 2x, with choppy sideways markets the least friendly setting.
One country, one sector, doubled. Beijing policy headlines and US listing rules land here at twice the force.

ROM The 2x target resets at each close, so results over weeks or months depend on the path the sector takes, not just where it ends up.sec.gov proshares.com
Trades thinner than the category's headline names, so spreads and limit orders matter, especially in size.
About 80 tech names from the S&P 500. That is one concentrated sector bet, doubled, in both directions.

Full CWEB profile⁠

Full ROM profile⁠

CWEB vs ROM Holdings

How CWEB and ROM differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of CWEB and 0.0% of ROM.

Level by level

Holdings0 in both0.0%
Countryby domicile0.4%
Sector8 Sectors18.5%
Asset classEquity100%

Sector

Sector weights in CWEB and ROM, widest gap first
Sector	More in CWEBMore in ROM	CWEB	ROM
Technology	ROM +77.6 points	17.5%	95.1%
Communication	CWEB +36.9 points	36.9%	0.0%
Consumer Discretionary	CWEB +33.3 points	33.3%	0.0%
Real Estate	CWEB +4.4 points	4.4%	0.0%
Health Care	CWEB +3.9 points	3.9%	0.0%
Financials	ROM +3.8 points	0.9%	4.8%
Consumer Staples	CWEB +3.0 points	3.0%	0.0%
Energy	ROM +0.1 points	0.0%	0.1%

Country, concentration and asset class

Country by domicile

Country weights in CWEB and ROM, widest gap first
Country	More in CWEBMore in ROM	CWEB	ROM
United States	ROM +99.4 points	0.0%	99.4%
China	CWEB +98.6 points	99.0%	0.4%
Singapore	CWEB +1.0 points	1.0%	0.0%
Mexico	ROM +0.2 points	0.0%	0.2%

Outside the US: CWEB 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

CWEB100.0%
ROM70.0%

Securities held

CWEB2
ROM84

Asset class

CWEB: Equity
ROM: Equity

Holdings

Only in CWEB2
In both0
Only in ROM84

Only in CWEB

2 securities, 36.4% of CWEB by weight

Kranesh Csi China Internet26.93%
Goldman Finl Sq Trsry Inst 5069.50%

Only in ROM

84 securities, 70.9% of ROM by weight

Apple Inc9.53%
NVIDIA Corp9.38%
Microsoft Corp7.34%
Proshares Genius Mny Mkt Etf3.23%
Broadcom Inc2.94%
Advanced Micro Devices2.83%
Micron Technology Inc2.51%
Palantir Technologies Inc-A1.62%
Cisco Systems Inc1.58%
TREASURY BILL, 0%, due 2027-01-121.47%
TREASURY BILL, 0%, due 2026-12-241.39%
Intel Corp1.25%
Applied Materials Inc1.19%
Lam Research Corp1.15%
Palo Alto Networks Inc1.14%
Texas Instruments Inc1.05%
Crowdstrike Holdings Inc - A0.98%
TREASURY BILL, 0%, due 2026-12-290.95%
Intl Business Machines Corp0.93%
Oracle Corp0.87%
Kla Corp0.79%
Analog Devices Inc0.78%
Amphenol Corp-Cl A0.75%
Salesforce Inc0.72%
TREASURY BILL, 0%, due 2026-12-170.70%
Arista Networks Inc0.68%
Qualcomm Inc0.67%
Marvell Technology Inc0.66%
Sandisk Corp0.64%
Accenture Plc-Cl A0.61%
Seagate Technology Holdings0.56%
Western Digital Corp0.51%
Dell Technologies -C0.49%
TREASURY BILL, 0%, due 2026-11-100.44%
TREASURY BILL, 0%, due 2026-12-030.44%
Servicenow Inc0.42%
Adobe Inc0.38%
Corning Inc0.37%
Intuit Inc0.36%
Cadence Design Sys Inc0.35%
Synopsys Inc0.34%
Fortinet Inc0.32%
Motorola Solutions Inc0.31%
Datadog Inc - Class A0.30%
Lumentum Holdings Inc0.29%
Hewlett Packard Enterprise0.28%
Nxp Semiconductors NV0.25%
Te Connectivity PLC0.24%
Monolithic Power Systems Inc0.23%
Autodesk Inc0.20%

Weight gaps

CWEB and ROM share no securities.

All 10 CWEB holdings⁠All 80 ROM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CWEB vs ROM Cost

Overpaying CWEB vs ROM

$5,379

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CWEB 1.27%
$22,918
ROM 0.93%
$17,539

Amount$10,000

Years30 years

Cost over time

CWEB 1.27%
ROM 0.93%
Overpaying

Year by year

Year	CWEB	ROM	Overpaying
10	$2,214	$1,644	$570
20	$8,220	$6,199	$2,021
30	$22,918	$17,539	$5,379

Expense ratio

1.27%CWEB
0.93%ROM, cheaper

ROM0.93%CWEB1.27%

0.20%2.19%

Middle half of Leveraged Long (2x & Other) funds
Median 0.95%

ROM 29th cheapest of 95 funds

CWEB 89th cheapest of 95 funds

CWEB vs ROM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CWEB 9.61%, better; ROM 0.03%
Payout (12M): CWEB $1.51; ROM $0.04
Last payment: CWEB $0.07; ROM $0.02
Ex-dividend: CWEB Sep 22, 2026; ROM Mar 25, 2026
Paid on: CWEB Sep 29, 2026; ROM Mar 31, 2026
Frequency: CWEB Quarterly; ROM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

CWEBQuarterly · 20 paymentsAll CWEB payments⁠

ROMQuarterly · 19 paymentsAll ROM payments⁠

CWEB vs ROM Risk

Fall from peak · 5 years

CWEB
ROM

Risk facts

VolatilityStd dev, 3 years: CWEB 64.2%ROM 49.3%, better
Return per unit of riskSharpe ratio, 3 years: CWEB −0.10ROM 0.97, better
Worst fallMax drawdown, 5 years: CWEB −92.3%ROM −67.6%, better
Market sensitivityBeta, 5 years: CWEB 1.28ROM 3.09; Market = 1

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