HWSM vs. EQRR

Last updated Jun 5, 2026

HWSM (Hotchkis & Wiley SMID Cap Diversified Value ETF) and EQRR (ProShares Equities for Rising Rates ETF) are both Mid Cap Value Equities funds. HWSM is actively managed, while EQRR is passively managed. Over the past year, HWSM returned 26.16% vs 44.05% for EQRR. A 0.76 correlation means they provide meaningful diversification when combined. HWSM charges 0.55%/yr vs 0.35%/yr for EQRR.

Performance

HWSM vs. EQRR - Performance Comparison

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

Returns By Period

In the year-to-date period, HWSM achieves a 10.77% return, which is significantly lower than EQRR's 28.12% return.

HWSM

• 1D: 1.25%
• 1M: 4.08%
• YTD: 10.77%
• 6M: 12.03%
• 1Y: 26.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EQRR

• 1D: 0.62%
• 1M: 7.76%
• YTD: 28.12%
• 6M: 27.54%
• 1Y: 44.05%
• 3Y*: 22.79%
• 5Y*: 12.47%
• 10Y*: —

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

HWSM vs. EQRR - Yearly Performance Comparison

	2026 (YTD)	2025
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	10.77%	11.54%
EQRR ProShares Equities for Rising Rates ETF	28.12%	10.25%

Correlation

The correlation between HWSM and EQRR is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	0.76

The correlation between HWSM and EQRR has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.

Return for Risk

HWSM vs. EQRR — Risk / Return Rank

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

HWSM

HWSM Risk / Return Rank: 51
HWSM Sharpe Ratio Rank: 49
HWSM Sortino Ratio Rank: 53
HWSM Omega Ratio Rank: 48
HWSM Calmar Ratio Rank: 53
HWSM Martin Ratio Rank: 51

EQRR

EQRR Risk / Return Rank: 93
EQRR Sharpe Ratio Rank: 92
EQRR Sortino Ratio Rank: 91
EQRR Omega Ratio Rank: 91
EQRR Calmar Ratio Rank: 96
EQRR Martin Ratio Rank: 96

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.

HWSM vs. EQRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) and ProShares Equities for Rising Rates ETF (EQRR). 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.

	HWSM	EQRR	Difference
Sharpe ratio: Return per unit of total volatility	1.68	3.30	-1.61
Sortino ratio: Return per unit of downside risk	2.51	4.31	-1.81
Omega ratio: Gain probability vs. loss probability	1.30	1.59	-0.29
Calmar ratio: Return relative to maximum drawdown	2.57	8.94	-6.38
Martin ratio: Return relative to average drawdown	8.61	33.32	-24.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWSM vs. EQRR - Sharpe Ratio Comparison

The current HWSM Sharpe Ratio is 1.68, which is lower than the EQRR Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of HWSM and EQRR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HWSM	EQRR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	3.30	-1.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.43	+0.53

Drawdowns

HWSM vs. EQRR - Drawdown Comparison

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

Drawdown Indicators

	HWSM	EQRR	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-57.93%	+42.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-4.95%	-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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.76%	-10.07%	+7.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	1.33%	+1.72%

Volatility

HWSM vs. EQRR - Volatility Comparison

The current volatility for Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) is 3.68%, while ProShares Equities for Rising Rates ETF (EQRR) has a volatility of 4.69%. This indicates that HWSM experiences smaller price fluctuations and is considered to be less risky than EQRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWSM	EQRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	4.69%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	10.45%	10.36%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	13.48%	+2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	21.39%	-0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.58%	24.86%	-4.28%

HWSM vs. EQRR - Expense Ratio Comparison

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

Dividends

HWSM vs. EQRR - Dividend Comparison

HWSM's dividend yield for the trailing twelve months is around 1.20%, which matches EQRR's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQRR ProShares Equities for Rising Rates ETF	1.20%	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 HWSM and EQRR in my portfolio?

HWSM and EQRR have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWSM or EQRR?

EQRR has higher volatility (4.69%) compared to HWSM (3.68%). In terms of maximum drawdown, HWSM dropped -15.67% vs EQRR's -57.93%.

Which ETF is better, HWSM or EQRR?

On 1-year performance, EQRR leads with 44.05% vs 26.16% for HWSM. On fees, EQRR is cheaper at 0.35% per year. On volatility, HWSM has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HWSM or EQRR?

Over the 1-year period, EQRR has performed better with a 44.05% return vs 26.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HWSM or EQRR?

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

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

HWSM and EQRR have nearly identical dividend yields, around 1.20%.

What is the main difference between HWSM and EQRR?

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

Which has better risk-adjusted returns?

EQRR currently has the higher Sharpe Ratio (3.30 vs 1.68), 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.