RWM vs SZK: Grades, Fees and Holdings Compared

ProShares Short Russell2000

RWMBNYSE Arca

ProShares UltraShort Consumer Staples

SZKCNYSE Arca

Overlap

13.6%by weight

Expense ratio

RWM0.95%SZK0.95%

Avg volume · 30D

RWM 6266.9×the volume

RWM30MSZK4.79K

10Y return · a year

RWM +6.4pt

RWM−11.1%SZK−17.5%

RWM vs SZK Performance

Oct 29, 2021 – Oct 30, 2026

−18.3%RWM−11.1%SZK

Expense ratio: RWM 0.95%; SZK 0.95%
Fund size: RWM $163M; SZK $1M
1Y total return: RWM −10.2%, better; SZK −28.6%
Yield (12M): RWM 3.32%; SZK 6.68%, better
Holdings: RWM 3; SZK 1
Avg volume (30D): RWM 30M sh, better; SZK 4.79K sh
NAV per share: RWM $14.37; SZK $18.17
52W range

ETF.net Grade

Pillar letters and Scores for RWM, SZK, with each pillar’s weight
Pillar	RWM	SZK
Cost30% weight	C50	C50
Mission25% weight	Not scored	Not scored
Risk15% weight	B61Higher	C51
Tradability15% weight	A90Higher	D27
Holdings10% weight	B63	Not scored
Durability5% weight	B69Higher	D35

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›

Same Category. RWM and SZK 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 SZK 32nd of 53 funds in the Leveraged Inverse (2x & Other) Category.

Rank 1BDOGProShares Short Dow30Score 65
Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
Rank 3BPSQProShares Short QQQScore 64
Rank 4BRWMProShares Short Russell2000Score 63
Rank 5BSJBProShares Short High YieldScore 62
Rank 32CSMNProShares UltraShort MaterialsScore 40
Rank 32CSZKProShares UltraShort Consumer StaplesScore 40
Rank 32CYXIProShares Short FTSE China 50Score 40

Our read on each fund

ETF.net Research

RWMBProShares Short Russell2000

SZKCProShares UltraShort Consumer Staples

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.

SZK The only -2x ETF pointed at a falling consumer staples sector, per ProShares, and it has held that slot since 2007. Soup, soap and razor blades, geared and flipped, reset every single day.

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.

SZK The fund seeks inverse exposure to the daily performance of the consumer staples sector, aiming to profit when that 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.com proshares.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.

SZK ProShares calls it the only -2x ETF designed to gain when the consumer staples sector falls on a given day. No crowd of copycats to compare it against.proshares.com
0.95% net of a waiver through September 30, 2027, against 5.15% gross. Same net sticker as ProShares' big shorts DOG, PSQ and RWM, each 0.95% net of waivers to that same date.proshares.com
Trading since 2007, so the record spans the financial crisis and the 2020 crash. Inverse exposure arrives through one ticker in a brokerage account, no borrow to locate.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.com proshares.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

SZK The -2x target applies to a single day. Hold longer and compounding takes over: results can land well away from -2x the index move over that stretch, especially in choppy tape.proshares.com
A small, thinly traded fund. The spread you cross and the order type you use carry more weight here than in the heavily traded index shorts.
That 0.95% rests on a contractual waiver through September 30, 2027. Gross expenses run 5.15%, the math of a small fund spreading fixed costs over few assets.proshares.com

Full RWM profile⁠

Full SZK profile⁠

RWM vs SZK Holdings

How RWM and SZK differ

Overlap by weight

13.6%

Shared holdings make up 100% of SZK and 13.6% of RWM.

Level by level

Holdings0 in both13.6%
Asset classEquity100%

Sector

No Sector split for SZK.

Country, concentration and asset class

Country by domicile

No country split for SZK.

Concentration

Weight in the 10 largest Holdings

RWM100.0%
SZK100.0%

Securities held

RWM2
SZK0

Asset class

RWM: Equity
SZK: Equity

Holdings

Only in RWM2
In both0
Only in SZK0

Only in RWM

2 securities, 86.4% of RWM by weight

Proshares Genius Mny Mkt Etf81.69%
TREASURY BILL, 0%, due 2026-12-174.71%

Only in SZK

0 securities, 0.0% of SZK by weight

Weight gaps

RWM and SZK share no securities.

All 12 RWM holdings⁠All 5 SZK 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.

RWM vs SZK Cost

Same expense ratio

$17,869

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

RWM 0.95%
$17,869
SZK 0.95%
$17,869

Amount$10,000

Years30 years

Cost over time

RWM 0.95%
SZK 0.95%

Year by year

Year	RWM	SZK
10	$1,678	$1,678
20	$6,322	$6,322
30	$17,869	$17,869

Expense ratio

0.95%RWM
0.95%SZK

RWM0.95%SZK0.95%

0.50%1.47%

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

RWM 6th cheapest of 53 funds

SZK 6th cheapest of 53 funds

RWM vs SZK Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RWM 3.32%; SZK 6.68%, better
Payout (12M): RWM $0.48; SZK $1.21
Last payment: RWM $0.09; SZK $0.83
Ex-dividend: RWM Sep 23, 2026; SZK Sep 23, 2026
Paid on: RWM Sep 29, 2026; SZK Sep 29, 2026
Frequency: RWM Quarterly; SZK Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RWMQuarterly · 26 paymentsAll RWM payments⁠

SZKQuarterly · 23 paymentsAll SZK payments⁠

RWM vs SZK Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: RWM 18.4%, betterSZK 25.9%
Return per unit of riskSharpe ratio, 3 years: RWM −0.99SZK −0.70, better
Worst fallMax drawdown, 5 years: RWM −43.7%SZK −43.0%, better
Market sensitivityBeta, 5 years: RWM −1.23SZK −0.85; Market = 1

Popular comparisons

RWMBvsDOGB
ProShares Short Russell2000 · ProShares Short Dow30
Expense ratio
0.95% · 0.95%
Category
SZKCvsDOGB
ProShares UltraShort Consumer Staples · ProShares Short Dow30
Expense ratio
0.95% · 0.95%
Category
RWMBvsSVXYB
ProShares Short Russell2000 · ProShares Short VIX Short-Term Futures ETF
Expense ratio
0.95% · 0.95%
Category
SZKCvsSVXYB
ProShares UltraShort Consumer Staples · ProShares Short VIX Short-Term Futures ETF
Expense ratio
0.95% · 0.95%
Category
RWMBvsPSQB
ProShares Short Russell2000 · ProShares Short QQQ
Expense ratio
0.95% · 0.95%
Category
SZKCvsPSQB
ProShares UltraShort Consumer Staples · ProShares Short QQQ
Expense ratio
0.95% · 0.95%
Category