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EFZ vs RWM

ProShares Short MSCI EAFE

EFZCNYSE Arca

ProShares Short Russell2000

RWMBNYSE Arca

Overlap

Expense ratio

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

EFZ0.95%RWM0.95%

Avg volume · 30D

RWM 3703.3×the volume

EFZ8.11KRWM30M

10Y return · a year

EFZ +3.1pt

EFZ−8.0%RWM−11.1%

EFZ vs RWM Performance

Oct 29, 2021 – Oct 30, 2026

−22.8%EFZ−18.3%RWM

Oct 29, 2021 to Oct 30, 2026. EFZ −22.8%. RWM −18.3%. Use the arrow keys to read each point.−10%0%10%20%30%Oct 2021Apr 2024Oct 2026
Expense ratio
EFZ 0.95%
RWM 0.95%
Fund size
EFZ $10M
RWM $163M
1Y total return
EFZ −8.7%, better
RWM −10.2%
Yield (12M)
EFZ 3.67%, better
RWM 3.32%
Holdings
EFZ 2
RWM 3
Avg volume (30D)
EFZ 8.11K sh
RWM 30M sh, better
NAV per share
EFZ $23.21
RWM $14.37
52W range

ETF.net Grade

EFZ: Cost 50, Risk 63, Mission not scored, Tradability 44, Holdings 46, Durability 54. RWM: Cost 50, Risk 61, Mission not scored, Tradability 90, Holdings 63, Durability 69.
Pillar letters and Scores for EFZ, RWM, with each pillar’s weight
PillarEFZRWM
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB63HigherB61
Tradability15% weightC44A90Higher
Holdings10% weightC46B63Higher
Durability5% weightC54B69Higher

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. EFZ 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 EFZ 21st 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 17CTWMProShares UltraShort Russell2000Score 52
  7. Rank 21CEFZProShares Short MSCI EAFEScore 51
  8. Rank 21CQQQDDirexion Daily Magnificent 7 Bear 1X ETFScore 51

Our read on each fund

ETF.net Research

EFZCProShares Short MSCI EAFE

RWMBProShares Short Russell2000

In short

EFZ Most inverse ETFs aim at the S&P or the Nasdaq. EFZ aims overseas: a straight -1x of the MSCI EAFE Index's daily move, no leverage stacked on top, running since 2007.

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

EFZ EFZ seeks daily investment results corresponding to the inverse (-1x) of the daily performance of the MSCI EAFE Index, before fees and expenses.

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

  • EFZ A one-day inverse on developed markets outside the US and Canada: Europe, Japan, Australasia. The trade rides their session, not America's.proshares.com
  • Straight -1x, no gearing stacked on top, so the daily-reset drift that hits -2x and -3x funds is much milder here.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.70% gross), near the category norm and matching the net fee on DOG, PSQ and RWM, each waived to the same date.
  • Trading since 2007, through the crisis and every scare since, and it stands in the upper half of its inverse peer group.
  • 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

  • EFZ The objective resets every day. Over longer holds the result depends on the index's path, not just its net move.
  • EAFE markets close hours before the US bell, and ProShares notes the index isn't priced at the US close, so a day's move can look out of sync.proshares.com
  • One of the lighter-traded corners of the inverse lineup, so spreads and limit orders matter more than with the big US index shorts.
  • 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 EFZ profile⁠

Full RWM profile⁠

EFZ 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.

EFZ vs RWM Cost

Same expense ratio

$17,869

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

  • EFZ 0.95%

    $17,869

  • RWM 0.95%

    $17,869

$10,000
30 years

Cost over time

  • EFZ 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$20K051015202530EFZ $17,869RWM $17,869

Year by year

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

Expense ratio

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

EFZ 6th cheapest of 53 funds

RWM 6th cheapest of 53 funds

EFZ vs RWM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EFZ 3.67%, better
RWM 3.32%
Payout (12M)
EFZ $0.85
RWM $0.48
Last payment
EFZ $0.23
RWM $0.09
Ex-dividend
EFZ Sep 23, 2026
RWM Sep 23, 2026
Paid on
EFZ Sep 29, 2026
RWM Sep 29, 2026
Frequency
EFZ Quarterly
RWM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EFZQuarterly · 23 paymentsAll EFZ payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.05; Dec 26, 2018 $0.15; Mar 20, 2019 $0.17; Jun 25, 2019 $0.19; Sep 25, 2019 $0.18; Dec 24, 2019 $0.22; Mar 25, 2020 $0.02; Dec 22, 2022 $0.23; Mar 22, 2023 $0.24; Jun 21, 2023 $0.37; Sep 20, 2023 $0.43; Dec 20, 2023 $0.56; Mar 20, 2024 $0.27; Jun 26, 2024 $0.47; Sep 25, 2024 $0.63; Dec 23, 2024 $0.40; Mar 26, 2025 $0.26; Jun 25, 2025 $0.30; Sep 24, 2025 $0.30; Dec 24, 2025 $0.30; Mar 25, 2026 $0.06; Jun 24, 2026 $0.26; Sep 23, 2026 $0.23. Use the arrow keys to read each point.$0$0.502017202020232026YTD
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$0.502017202020232026YTD

EFZ vs RWM Risk

Fall from peak · 5 years

  • EFZ
  • RWM
Oct 29, 2021 to Oct 30, 2026. Worst fall: EFZ −45.6% · Aug 2026. Use the arrow keys to read each point.−50%−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EFZ 11.8%, betterRWM 18.4%
Return per unit of riskSharpe ratio, 3 years
EFZ −1.42RWM −0.99, better
Worst fallMax drawdown, 5 years
EFZ −45.6%RWM −43.7%, better
Market sensitivityBeta, 5 years
EFZ −0.62RWM −1.23

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