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QID vs RWM

ProShares UltraShort QQQ

QIDBNYSE Arca

ProShares Short Russell2000

RWMBNYSE Arca

Overlap

Expense ratio

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

QID0.95%RWM0.95%

Avg volume · 30D

RWM 1.1×the volume

QID28.3MRWM30M

10Y return · a year

RWM +26.1pt

QID−37.2%RWM−11.1%

QID vs RWM Performance

Oct 29, 2021 – Oct 30, 2026

−78.4%QID−18.3%RWM

Oct 29, 2021 to Oct 30, 2026. QID −78.4%. RWM −18.3%. Use the arrow keys to read each point.−50%0%25%50%Oct 2021Apr 2024Oct 2026
Expense ratio
QID 0.95%
RWM 0.95%
Fund size
QID $311M
RWM $163M
1Y total return
QID −19.2%
RWM −10.2%, better
Yield (12M)
QID 5.55%, better
RWM 3.32%
Holdings
QID 8
RWM 3
Avg volume (30D)
QID 28.3M sh
RWM 30M sh, better
NAV per share
QID $15.09
RWM $14.37
52W range

ETF.net Grade

QID: Cost 50, Risk 34, Mission 98, Tradability 90, Holdings 55, Durability 71. RWM: Cost 50, Risk 61, Mission not scored, Tradability 90, Holdings 63, Durability 69.
Pillar letters and Scores for QID, RWM, with each pillar’s weight
PillarQIDRWM
Cost30% weightC50C50
Mission25% weightA98Not scored
Risk15% weightD34B61Higher
Tradability15% weightA90A90
Holdings10% weightB55B63Higher
Durability5% weightA71HigherB69

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. QID 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 QID 11th 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 10BDXDProShares UltraShort Dow30Score 58
  7. Rank 11BQIDProShares UltraShort QQQScore 57
  8. Rank 12BSEFProShares Short FinancialsScore 56

Our read on each fund

ETF.net Research

QIDBProShares UltraShort QQQ

RWMBProShares Short Russell2000

In short

QID One of ProShares' original geared funds, live since 2006: QID aims for two times the inverse of the Nasdaq-100's daily move, resetting every night. Fee is 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

QID The fund seeks daily investment results, before fees and expenses, corresponding to two times the inverse performance of the Nasdaq-100 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

  • QID Day in, day out it lands close to its stated two-times-inverse target, one of the tighter implementations in the leveraged and inverse group.
  • Very actively traded, which matters when the holding period is measured in hours rather than years.
  • Same 0.95% net (waived through September 30, 2027) as single-short sibling PSQ, whose 0.95% net is waived to that same date, for twice the daily gear.
  • Trading since July 2006, through two decades of market cycles, and priced near the typical fee for leveraged and inverse funds.
  • 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

  • QID The mandate is one day only. Over longer stretches returns compound and usually differ from twice the inverse of the index, and volatility can hurt badly.sec.gov
  • ProShares' own filings say shareholders should actively manage and monitor these funds, as frequently as daily.sec.gov
  • Leverage runs both directions: a Nasdaq-100 that rises on the day moves this fund down about twice as much, before fees.
  • 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 QID profile⁠

Full RWM profile⁠

QID 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.

QID vs RWM Cost

Same expense ratio

$17,869

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

  • QID 0.95%

    $17,869

  • RWM 0.95%

    $17,869

$10,000
30 years

Cost over time

  • QID 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$20K051015202530QID $17,869RWM $17,869

Year by year

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

Expense ratio

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

QID 6th cheapest of 53 funds

RWM 6th cheapest of 53 funds

QID vs RWM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
QID 5.55%, better
RWM 3.32%
Payout (12M)
QID $0.84
RWM $0.48
Last payment
QID $0.17
RWM $0.09
Ex-dividend
QID Sep 23, 2026
RWM Sep 23, 2026
Paid on
QID Sep 29, 2026
RWM Sep 29, 2026
Frequency
QID Quarterly
RWM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QIDQuarterly · 26 paymentsAll QID payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.81; Mar 21, 2018 $1.76; Jun 20, 2018 $2.70; Sep 26, 2018 $3.76; Dec 26, 2018 $4.92; Mar 20, 2019 $2.38; Jun 25, 2019 $4.14; Sep 25, 2019 $3.30; Dec 24, 2019 $2.09; Mar 25, 2020 $1.31; Dec 22, 2022 $0.19; Mar 22, 2023 $0.42; Jun 21, 2023 $0.67; Sep 20, 2023 $0.88; Dec 20, 2023 $1.03; Mar 20, 2024 $0.79; Jun 26, 2024 $0.78; Sep 25, 2024 $0.53; Dec 23, 2024 $0.51; Mar 26, 2025 $0.37; Jun 25, 2025 $0.28; Sep 24, 2025 $0.25; Dec 24, 2025 $0.37; Mar 25, 2026 $0.15; Jun 24, 2026 $0.15; Sep 23, 2026 $0.17. Use the arrow keys to read each point.$0$52017202020232026YTD
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$52017202020232026YTD

QID vs RWM Risk

Fall from peak · 5 years

  • QID
  • RWM
Oct 29, 2021 to Oct 30, 2026. Worst fall: QID −89.3% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
QID 32.9%RWM 18.4%, better
Return per unit of riskSharpe ratio, 3 years
QID −1.37RWM −0.99, better
Worst fallMax drawdown, 5 years
QID −89.3%RWM −43.7%, better
Market sensitivityBeta, 5 years
QID −2.33RWM −1.23

QID and RWM in the news

All news⁠

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