Proshares Russell 2000 High Income ETF (ITWO) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with ITWO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to ITWO
ITWO charges 0.55% annually. There are 43 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parametric Equity Plus ETF | 0.10% | 27.32M | Nov 2024 | ITWO vs PEPS | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 303.13M | Mar 2024 | ITWO vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 45.59M | Sep 2024 | ITWO vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 185.18M | Apr 2024 | ITWO vs FYEE | |
| Parametric Equity Premium Income ETF | 0.29% | 398.58M | Oct 2023 | ITWO vs PAPI |
Best Risk-Adjusted Alternatives to ITWO
ITWO has a PortfoliosLab risk / return rank of 74. There are 17 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 96 | 1.16B | Apr 2025 | ITWO vs CHPY | |
| SoFi Enhanced Yield ETF | 95 | 34.73M | Nov 2023 | ITWO vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 262.22M | Jul 2023 | ITWO vs GOOY | |
| YieldMax AMD Option Income Strategy ETF | 91 | 409.32M | Sep 2023 | ITWO vs AMDY | |
| Simplify Treasury Option Income ETF | 87 | 465.86M | Oct 2022 | ITWO vs BUCK |
Top Performing ITWO Alternatives (YTD)
ITWO is at 21.97% YTD. There are 15 ETFs in the Derivative Income category with higher YTD returns, going as high as 19,132.59%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| REX HOOD Growth & Income ETF | 19,132.59% | 1.44M | Nov 2025 | ITWO vs HOII | |
| REX CRWV Growth & Income ETF | 13,199.78% | 2.19M | Nov 2025 | ITWO vs CWII | |
| Roundhill ARM WeeklyPay ETF | 287.65% | 17.52M | Oct 2025 | ITWO vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 175.60% | 83.00M | Jul 2025 | ITWO vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 101.64% | 409.32M | Sep 2023 | ITWO vs AMDY |
Lowest Volatility Alternatives to ITWO
ITWO has 19.20% 1-year volatility. There are 128 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.98%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.98% | 465.86M | Oct 2022 | ITWO vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.86% | 90.05M | Feb 2025 | ITWO vs HYTI | |
| Main Buywrite ETF | 4.88% | 1.23B | Dec 2015 | ITWO vs BUYW | |
| FT Vest Investment Grade & Target Income ETF | 5.11% | 292.66M | Feb 2025 | ITWO vs LQTI | |
| Global X S&P 500 Risk Managed Income ETF | 5.50% | 50.16M | Aug 2021 | ITWO vs XRMI |
Lowest Drawdown Alternatives to ITWO
ITWO has a 1-year max drawdown of -9.79%. There are 70 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -1.31%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -1.31% | 465.86M | Oct 2022 | ITWO vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.05M | Feb 2025 | ITWO vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.23B | Dec 2015 | ITWO vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | ITWO vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | ITWO vs OMAH |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, QLD and span 10 categories. AUM among these funds goes as high as $40B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 51 | 39.27% | 39.74B | Feb 2010 | ITWO vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 1 | -32.58% | 1.42B | Oct 2021 | ITWO vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities | 52 | 28.38% | 14.59B | Jun 2006 | ITWO vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 47 | 16.62% | 5.36B | Jun 2009 | ITWO vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 50 | 12.57% | 8.02B | Jun 2006 | ITWO vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 30 | 6.93% | 11.27B | Oct 2013 | ITWO vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 82 | 83.22% | 3.28B | Jan 2007 | ITWO vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -40.47% | 1.83B | Feb 2010 | ITWO vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -23.04% | 265.17M | Oct 2011 | ITWO vs UVXY | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 54 | 12.97% | 426.74M | Mar 2024 | ITWO vs IQQQ |
Often Compared With ITWO
Investors most often compare ITWO with IWMI, IWM, GPIQ. These 20 comparison targets span 10 categories, based on PortfoliosLab usage data.
Compare ITWO with Any Fund or Stock
Compare ITWO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair ITWO with funds that move differently
Proshares Russell 2000 High Income ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ITWO.
Explore ITWO Diversifiers