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EFU vs RWM

ProShares UltraShort MSCI EAFE

EFUCNYSE Arca

ProShares Short Russell2000

RWMBNYSE Arca

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

EFU0.95%RWM0.95%

Avg volume · 30D

RWM 3937.4×the volume

EFU7.62KRWM30M

10Y return · a year

RWM +8.0pt

EFU−19.1%RWM−11.1%

EFU vs RWM Performance

Oct 29, 2021 – Oct 30, 2026

−55.2%EFU−18.3%RWM

Oct 29, 2021 to Oct 30, 2026. EFU −55.2%. RWM −18.3%. Use the arrow keys to read each point.0%25%50%75%Oct 2021Apr 2024Oct 2026
Expense ratio
EFU 0.95%
RWM 0.95%
Fund size
EFU $1M
RWM $163M
1Y total return
EFU −21.1%
RWM −10.2%, better
Yield (12M)
EFU 4.12%, better
RWM 3.32%
Holdings
EFU 1
RWM 3
Avg volume (30D)
EFU 7.62K sh
RWM 30M sh, better
NAV per share
EFU $7.38
RWM $14.37
52W range

ETF.net Grade

EFU: Cost 50, Risk 42, Mission not scored, Tradability 22, Holdings not scored, Durability 36. RWM: Cost 50, Risk 61, Mission not scored, Tradability 90, Holdings 63, Durability 69.
Pillar letters and Scores for EFU, RWM, with each pillar’s weight
PillarEFURWM
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightC42B61Higher
Tradability15% weightF22A90Higher
Holdings10% weightNot scoredB63
Durability5% weightD36B69Higher

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EFU and RWM are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

RWM ranks 4th and EFU 32nd of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 3BPSQProShares Short QQQScore 64
  4. Rank 4BRWMProShares Short Russell2000Score 63
  5. Rank 5BSJBProShares Short High YieldScore 62
  6. Rank 32CEEVProShares UltraShort MSCI Emerging MarketsScore 40
  7. Rank 32CEFUProShares UltraShort MSCI EAFEScore 40
  8. Rank 32CEMTYProShares Decline of the Retail Store ETFScore 40

Our read on each fund

ETF.net Research

EFUCProShares UltraShort MSCI EAFE

RWMBProShares Short Russell2000

In short

EFU Nearly every inverse ETF shorts America. EFU goes the other way: -2x the daily move of the MSCI EAFE index, the developed markets of Europe, Australasia and the Far East. A 2007-vintage tool with a one-day job.

RWM Short small caps at one speed: RWM targets the inverse of the Russell 2000's daily move, with no 2x or 3x multiplier on top. Trading since 2007, at 0.95% net of a waiver through September 30, 2027.

Stated mandate

EFU EFU seeks daily investment results, before fees and expenses, corresponding to -2x the daily performance of the MSCI EAFE Index.

RWM 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

  • EFU A rare short on the world outside America: -2x the daily move of MSCI EAFE, which spans large and mid caps across 21 developed countries, excluding the US and Canada.proshares.commsci.com
  • Fee is 0.95% net of a waiver through September 30, 2027, near the category median for leveraged and inverse funds. Not a bargain, not a premium.
  • Listed in 2007, so the fund has operated across multiple full market cycles, a long run for a daily-reset product.
  • The same index comes at half the speed in EFZ, a -1x fund at 0.95% net of a waiver through September 30, 2027, so the exposure can be dialed down.
  • RWM Straight -1x, not a multiplier: it tracks the inverse of the Russell 2000's daily move, where stablemate TWM targets -2x on the same index.proshares.com
  • ProShares calls it the only -1x ETF tied to the Russell 2000, the index of the 2,000 smallest US names in the Russell 3000.proshares.comproshares.com 2
  • Trading since January 2007 and one of the busier funds in the inverse-equity aisle, so entering and exiting is rarely the hard part.
  • Fee is 0.95% net of a waiver through September 30, 2027 (1.05% gross), near what this category charges, and it rates among the strongest builds in its peer group.

Worth knowing

  • EFU The -2x target resets every day. Hold longer and compounding takes over, so multi-day results can differ widely from -2x the index move over that stretch.proshares.com
  • That 0.95% is net: the gross ratio is 8.34%, and the waiver runs through September 30, 2027. Worth watching what the fund files after that.
  • Small and thinly traded. Limit orders and modest size matter more here than in the headline inverse funds.
  • RWM The -1x target resets daily. Hold longer and compounding rules: ProShares says multi-day returns can differ significantly from the target, in amount and even direction.proshares.comproshares.com 2
  • Symmetric by design: on days the Russell 2000 climbs, the fund is built to lose roughly as much as the index gains.proshares.com
  • Fund documents tell investors to monitor holdings as frequently as daily, which puts this at the hands-on end of the shelf.proshares.com

Full EFU profile⁠

Full RWM profile⁠

EFU vs RWM 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.

EFU vs RWM Cost

Same expense ratio

$17,869

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

  • EFU 0.95%

    $17,869

  • RWM 0.95%

    $17,869

$10,000
30 years

Cost over time

  • EFU 0.95%
  • RWM 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530EFU $17,869RWM $17,869

Year by year

YearEFURWM
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%EFU
  • 0.95%RWM
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

EFU 6th cheapest of 53 funds

RWM 6th cheapest of 53 funds

EFU vs RWM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EFU 4.12%, better
RWM 3.32%
Payout (12M)
EFU $0.30
RWM $0.48
Last payment
EFU $0.08
RWM $0.09
Ex-dividend
EFU Sep 23, 2026
RWM Sep 23, 2026
Paid on
EFU Sep 29, 2026
RWM Sep 29, 2026
Frequency
EFU Quarterly
RWM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EFUQuarterly · 24 paymentsAll EFU payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.02; Dec 26, 2018 $0.08; Mar 20, 2019 $0.08; Jun 25, 2019 $0.13; Sep 25, 2019 $0.12; Dec 24, 2019 $0.05; Mar 25, 2020 $0.00092; Sep 21, 2022 $0.33; Dec 22, 2022 $0.02; Mar 22, 2023 $0.33; Jun 21, 2023 $0.16; Sep 20, 2023 $0.35; Dec 20, 2023 $0.25; Mar 20, 2024 $0.12; Jun 26, 2024 $0.11; Sep 25, 2024 $0.16; Dec 23, 2024 $0.24; Mar 26, 2025 $0.13; Jun 25, 2025 $0.12; Sep 24, 2025 $0.14; Dec 24, 2025 $0.11; Mar 25, 2026 $0.03; Jun 24, 2026 $0.08; Sep 23, 2026 $0.08. Use the arrow keys to read each point.$0$0.252017202020232026YTD
RWMQuarterly · 26 paymentsAll RWM payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.03; Mar 21, 2018 $0.04; Jun 20, 2018 $0.10; Sep 26, 2018 $0.14; Dec 26, 2018 $0.13; Mar 20, 2019 $0.11; Jun 25, 2019 $0.18; Sep 25, 2019 $0.15; Dec 24, 2019 $0.14; Mar 25, 2020 $0.05; Dec 22, 2022 $0.10; Mar 22, 2023 $0.15; Jun 21, 2023 $0.24; Sep 20, 2023 $0.27; Dec 20, 2023 $0.35; Mar 20, 2024 $0.26; Jun 26, 2024 $0.29; Sep 25, 2024 $0.28; Dec 23, 2024 $0.30; Mar 26, 2025 $0.14; Jun 25, 2025 $0.20; Sep 24, 2025 $0.13; Dec 24, 2025 $0.18; Mar 25, 2026 $0.06; Jun 24, 2026 $0.14; Sep 23, 2026 $0.09. Use the arrow keys to read each point.$0$0.252017202020232026YTD

EFU vs RWM Risk

Fall from peak · 5 years

  • EFU
  • RWM
Oct 29, 2021 to Oct 30, 2026. Worst fall: EFU −77.4% · Aug 2026. Use the arrow keys to read each point.−80%−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EFU 23.3%RWM 18.4%, better
Return per unit of riskSharpe ratio, 3 years
EFU −1.45RWM −0.99, better
Worst fallMax drawdown, 5 years
EFU −77.4%RWM −43.7%, better
Market sensitivityBeta, 5 years
EFU −1.23RWM −1.23Same figure. Both funds show the same value, so neither comes out ahead.

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