MYY vs RWM

MYYCProShares Short MidCap400

RWMBProShares Short Russell2000

In short

MYY The only -1x ETF built on the S&P MidCap 400, trading since 2006. One ticker, one dose of inverse exposure to America's mid caps, and a target that resets at every close.

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

MYY MYY seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the S&P MidCap 400.

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

• MYY Inverse funds pile into the S&P 500, Nasdaq and Dow. MYY is the only -1x ETF designed to rise when the S&P MidCap 400 falls on the day, so the mid-cap slice gets its own ticker.proshares.com
• 0.95% net of a waiver through September 30, 2027, near the typical inverse-fund fee and level with stablemates DOG and PSQ (each 0.95% net of waivers through September 30, 2027).
• Short exposure without a margin account or a borrow: you buy and sell it like any stock, and it has been doing this job since 2006, a long run for a daily-reset product.proshares.com

• 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

• MYY The target is one day's inverse move, reset at each close. Hold longer and compounding takes over, so multi-day results can differ from -1x the index's move over that stretch.
• That 0.95% leans on a fee waiver running through September 30, 2027. The gross expense ratio underneath is 2.95%.
• Small and thinly traded next to the headline inverse names, so spreads and limit orders matter more. Sibling MZZ targets -2x of the same index, with bigger daily swings.proshares.com

• 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 MYY profile⁠

Full RWM profile⁠