RWM vs YXI

RWMBProShares Short Russell2000

YXICProShares Short FTSE China 50

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.

YXI The one-speed China short. YXI aims for -1x the daily move of the FTSE China 50, Hong Kong's Chinese blue chips, and resets every day. Fee is 0.95% net of a waiver through September 30, 2027.

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.

YXI YXI seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the FTSE China 50 Index.

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.

• YXI Unleveraged inverse: it targets -1x the index's daily move, while stablemate FXP runs -2x on the exact same index. Same China exposure, one gear instead of two.proshares.com
• Aims at the short side of a real benchmark: the FTSE China 50 holds 50 of the largest, most liquid Chinese stocks trading in Hong Kong (H shares, red chips, P chips).jpx.co.jp
• Fee sits near the typical leveraged-and-inverse fund at 0.95% net of a waiver through September 30, 2027, the same net fee as FXP (also waived through that date).
• Trading since 2010 as a fund registered under the Investment Company Act of 1940, not a commodity-pool wrapper.

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

• YXI The -1x target applies to a single day. Hold longer and daily compounding can pull results away from -1x the index over that stretch, especially in choppy markets.proshares.com
• That 0.95% is net of a waiver through September 30, 2027. The gross expense ratio is 3.46%, so the cap has an end date on it.
• Small and lightly traded next to the big US index inverses, which can mean wider spreads. Limit orders do more work here than market orders.

Full RWM profile⁠

Full YXI profile⁠