EUM vs RWM

EUMBProShares Short MSCI Emerging Markets

RWMBProShares Short Russell2000

In short

EUM The only US ETF built to track the MSCI Emerging Markets Index upside down, one-for-one, one day at a time. Its ProShares sibling doubles the move; this one keeps it at -1x. Fee: 0.95%, net of a waiver through September 30, 2027.

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

EUM The Fund seeks daily investment results, before fees and expenses, that correspond to the inverse performance of the MSCI Emerging Markets 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

• EUM ProShares bills it as the only -1x ETF designed to profit when the MSCI Emerging Markets Index falls on the day. The leveraged sibling EEV targets -2x the same index.proshares.comproshares.com 2
• Short emerging markets from a plain brokerage account: no margin, no stock borrow, one ticker.proshares.com
• 0.95% net of a waiver through September 30, 2027 (1.75% gross), near the typical leveraged-and-inverse fee and level with ProShares siblings DOG and PSQ at 0.95%.
• Running since 2007, and one of the stronger implementations in the inverse and leveraged group, with trading deep enough for everyday order sizes.

• 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

• EUM The mandate resets daily. Hold past a day and compounding takes over, so results can drift well away from -1x, especially in choppy markets.proshares.com
• If the waiver lapses after September 30, 2027, the sticker fee reverts toward the 1.75% gross ratio.
• A small fund by ETF standards and moderately traded rather than deeply liquid, so spreads are worth a glance before you trade.

• 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 EUM profile⁠

Full RWM profile⁠