RWM vs SIJ

RWMBProShares Short Russell2000

SIJCProShares UltraShort Industrials

In short

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.

SIJ Wall Street's only two-times inverse play on the industrials sector in ETF form: one ticker, machinery-to-airlines exposure flipped upside down, reset at the end of every trading day since 2007.

Stated mandate

RWM The fund seeks daily investment results, before fees and expenses, that correspond to the inverse of the Russell 2000 Index's daily performance.

SIJ SIJ seeks, before fees and expenses, daily investment results equal to twice the inverse of the S&P Industrials Select Sector Index’s daily performance. It is intended to gain when the industrials sector declines.

Why people hold it

• 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.

• SIJ ProShares calls it the only -2x ETF built to rise when the industrials sector falls on the day. No other wrapper offers that exact dial.proshares.com
• 0.95% net of a waiver through September 30, 2027, matching ProShares staples DOG and PSQ (both 0.95% net of waivers through the same date) and near the category median.
• Trading since January 2007, which makes it one of the original leveraged-inverse sector funds, built and run by the shop that pioneered them.
• Short exposure comes from swaps and futures on the index, not borrowed stock in a margin account.proshares.com

Worth knowing

• 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

• SIJ The -2x target resets daily. Hold longer and compounding can push results well away from -2x the index's move over that stretch, especially in choppy markets.proshares.com
• Gross expenses run 3.82% before the waiver, and that waiver runs out September 30, 2027. Renewal is up to ProShares.
• A small fund that trades lightly next to the broad-market inverse names, so spreads and execution costs carry more weight.

Full RWM profile⁠

Full SIJ profile⁠