JDST vs RWM

JDSTCDirexion Daily Junior Gold Miners Index Bear 2X ETF

RWMBProShares Short Russell2000

In short

JDST The gold trade's wildest corner, played from the short side. JDST targets 200% of the inverse of the junior gold miners index each day, then resets at the bell. A tactical instrument, priced below the leveraged-bear norm.

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

JDST JDST seeks daily investment results, before fees and expenses, equal to 200% of the inverse performance of the MVIS Global Junior Gold Miners 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

• JDST Charges 0.92% a year, below the going rate in the leveraged bear aisle, where fees usually sting.
• One job, stated plainly: 200% of the inverse of the MVIS Global Junior Gold Miners Index, daily, before fees. No manager discretion, no drift into other bets.direxion.com
• Actively traded, which is what counts for a vehicle built to be held in short stretches and watched every day.
• Running since 2013, through full boom and bust cycles in gold, and one of the stronger builds in its leveraged bear 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

• JDST The -2x target applies to a single day. Hold longer and compounding takes the wheel: results can diverge sharply from twice the index's inverse move, especially in choppy markets.direxion.com
• Junior miners are the twitchiest slice of gold equities. Double the exposure and flip the sign, and daily moves get large in both directions.
• The asset base is small, something to weigh when sizing a position. Distributions, when paid, come on a quarterly schedule.

• 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 JDST profile⁠

Full RWM profile⁠