EQRR vs. HWSM

Last updated Jun 24, 2026

EQRR (ProShares Equities for Rising Rates ETF) and HWSM (Hotchkis & Wiley SMID Cap Diversified Value ETF) are both Mid Cap Value Equities funds. EQRR is passively managed, while HWSM is actively managed. Over the past year, EQRR returned 36.57% vs 23.75% for HWSM. A 0.75 correlation means they provide meaningful diversification when combined. EQRR charges 0.35%/yr vs 0.55%/yr for HWSM.

Performance

EQRR vs. HWSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Equities for Rising Rates ETF (EQRR) and Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQRR achieves a 24.82% return, which is significantly higher than HWSM's 10.81% return.

EQRR

• 1D: -1.77%
• 1M: 1.41%
• YTD: 24.82%
• 6M: 24.02%
• 1Y: 36.57%
• 3Y*: 21.45%
• 5Y*: 12.57%
• 10Y*: —

HWSM

• 1D: 0.09%
• 1M: 2.22%
• YTD: 10.81%
• 6M: 9.51%
• 1Y: 23.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EQRR vs. HWSM - Yearly Performance Comparison

	2026 (YTD)	2025
EQRR ProShares Equities for Rising Rates ETF	24.82%	11.23%
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	10.81%	12.92%

Correlation

The correlation between EQRR and HWSM is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 31, 2025	0.75

The correlation between EQRR and HWSM has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.

Return for Risk

EQRR vs. HWSM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EQRR

EQRR Risk / Return Rank: 87
EQRR Sharpe Ratio Rank: 84
EQRR Sortino Ratio Rank: 79
EQRR Omega Ratio Rank: 82
EQRR Calmar Ratio Rank: 95
EQRR Martin Ratio Rank: 94

HWSM

HWSM Risk / Return Rank: 50
HWSM Sharpe Ratio Rank: 48
HWSM Sortino Ratio Rank: 52
HWSM Omega Ratio Rank: 46
HWSM Calmar Ratio Rank: 51
HWSM Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EQRR vs. HWSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Equities for Rising Rates ETF (EQRR) and Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EQRR	HWSM	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.53	+0.99
Sortino ratio: Return per unit of downside risk	3.25	2.30	+0.95
Omega ratio: Gain probability vs. loss probability	1.45	1.27	+0.18
Calmar ratio: Return relative to maximum drawdown	7.42	2.33	+5.09
Martin ratio: Return relative to average drawdown	25.75	7.80	+17.96

EQRR vs. HWSM - Sharpe Ratio Comparison

The current EQRR Sharpe Ratio is 2.52, which is higher than the HWSM Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of EQRR and HWSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EQRR vs. HWSM - Drawdown Comparison

The maximum EQRR drawdown since its inception was -57.93%, which is greater than HWSM's maximum drawdown of -15.67%. Use the drawdown chart below to compare losses from any high point for EQRR and HWSM.

Drawdown Indicators

	EQRR	HWSM	Difference
Max Drawdown Largest peak-to-trough decline	-57.93%	-15.67%	-42.26%
Max Drawdown (1Y) Largest decline over 1 year	-4.95%	-10.23%	+5.28%
Max Drawdown (3Y) Largest decline over 3 years	-17.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.75%	—	—
Current Drawdown Current decline from peak	-2.61%	-1.85%	-0.76%
Average Drawdown Average peak-to-trough decline	-10.03%	-2.68%	-7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.42%	3.05%	-1.63%

Volatility

EQRR vs. HWSM - Volatility Comparison

ProShares Equities for Rising Rates ETF (EQRR) has a higher volatility of 7.31% compared to Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) at 3.40%. This indicates that EQRR's price experiences larger fluctuations and is considered to be riskier than HWSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQRR	HWSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.31%	3.40%	+3.91%
Volatility (6M) Calculated over the trailing 6-month period	11.70%	10.42%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	15.62%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.42%	20.32%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	20.32%	+4.55%

EQRR vs. HWSM - Expense Ratio Comparison

EQRR has a 0.35% expense ratio, which is lower than HWSM's 0.55% expense ratio.

Dividends

EQRR vs. HWSM - Dividend Comparison

EQRR's dividend yield for the trailing twelve months is around 1.23%, more than HWSM's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQRR ProShares Equities for Rising Rates ETF	1.23%	1.70%	2.17%	2.77%	2.34%	1.71%	2.17%	2.05%	2.47%	0.69%
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	1.20%	1.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EQRR and HWSM in my portfolio?

EQRR and HWSM have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQRR or HWSM?

EQRR has higher volatility (7.31%) compared to HWSM (3.40%). In terms of maximum drawdown, EQRR dropped -57.93% vs HWSM's -15.67%.

Which ETF is better, EQRR or HWSM?

On 1-year performance, EQRR leads with 36.57% vs 23.75% for HWSM. On fees, EQRR is cheaper at 0.35% per year. On volatility, HWSM has been the lower-risk option at 3.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQRR or HWSM?

Over the 1-year period, EQRR has performed better with a 36.57% return vs 23.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQRR or HWSM?

EQRR is cheaper with a 0.35% expense ratio, compared with 0.55% for HWSM.

Which ETF pays a higher dividend yield, EQRR or HWSM?

EQRR has the higher dividend yield at 1.23%, compared with 1.20% for HWSM.

What is the main difference between EQRR and HWSM?

They also come from different issuers: ProShares and Hotchkis & Wiley. Their fees differ too: 0.35% for EQRR and 0.55% for HWSM.

Which has better risk-adjusted returns?

EQRR currently has the higher Sharpe Ratio (2.52 vs 1.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.