IWM vs. RWM
Compare and contrast key facts about iShares Russell 2000 ETF (IWM) and ProShares Short Russell2000 (RWM).
IWM and RWM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWM is a passively managed fund by iShares that tracks the performance of the Russell 2000 Index. It was launched on May 22, 2000. RWM is a passively managed fund by ProShares that tracks the performance of the Russell 2000 (-100%). It was launched on Jan 23, 2007. Both IWM and RWM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IWM vs. RWM - Performance Comparison
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IWM vs. RWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 0.93% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
RWM ProShares Short Russell2000 | -0.52% | -9.40% | -5.91% | -10.43% | 18.34% | -17.90% | -31.04% | -19.83% | 11.57% | -13.61% |
Returns By Period
In the year-to-date period, IWM achieves a 0.93% return, which is significantly higher than RWM's -0.52% return. Over the past 10 years, IWM has outperformed RWM with an annualized return of 9.76%, while RWM has yielded a comparatively lower -11.01% annualized return.
IWM
- 1D
- 3.50%
- 1M
- -4.96%
- YTD
- 0.93%
- 6M
- 3.02%
- 1Y
- 25.66%
- 3Y*
- 12.94%
- 5Y*
- 3.34%
- 10Y*
- 9.76%
RWM
- 1D
- -3.51%
- 1M
- 5.06%
- YTD
- -0.52%
- 6M
- -1.93%
- 1Y
- -19.15%
- 3Y*
- -8.15%
- 5Y*
- -2.92%
- 10Y*
- -11.01%
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IWM vs. RWM - Expense Ratio Comparison
IWM has a 0.19% expense ratio, which is lower than RWM's 0.95% expense ratio.
Return for Risk
IWM vs. RWM — Risk / Return Rank
IWM
RWM
IWM vs. RWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and ProShares Short Russell2000 (RWM). 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.
| IWM | RWM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.11 | -0.83 | +1.94 |
Sortino ratioReturn per unit of downside risk | 1.66 | -1.09 | +2.75 |
Omega ratioGain probability vs. loss probability | 1.21 | 0.87 | +0.34 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | -0.54 | +2.37 |
Martin ratioReturn relative to average drawdown | 6.76 | -0.74 | +7.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWM | RWM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.11 | -0.83 | +1.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | -0.13 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | -0.48 | +0.90 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | -0.46 | +0.81 |
Correlation
The correlation between IWM and RWM is -0.99. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
IWM vs. RWM - Dividend Comparison
IWM's dividend yield for the trailing twelve months is around 1.02%, less than RWM's 3.57% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 1.02% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
RWM ProShares Short Russell2000 | 3.57% | 3.97% | 6.03% | 4.78% | 0.39% | 0.00% | 0.20% | 1.55% | 0.87% | 0.07% | 0.00% | 0.00% |
Drawdowns
IWM vs. RWM - Drawdown Comparison
The maximum IWM drawdown since its inception was -59.05%, smaller than the maximum RWM drawdown of -95.12%. Use the drawdown chart below to compare losses from any high point for IWM and RWM.
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Drawdown Indicators
| IWM | RWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.05% | -95.12% | +36.07% |
Max Drawdown (1Y)Largest decline over 1 year | -13.74% | -34.53% | +20.79% |
Max Drawdown (5Y)Largest decline over 5 years | -31.91% | -36.80% | +4.89% |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | -71.94% | +30.81% |
Current DrawdownCurrent decline from peak | -7.91% | -94.70% | +86.79% |
Average DrawdownAverage peak-to-trough decline | -10.83% | -73.85% | +63.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.70% | 25.23% | -21.53% |
Volatility
IWM vs. RWM - Volatility Comparison
iShares Russell 2000 ETF (IWM) and ProShares Short Russell2000 (RWM) have volatilities of 7.47% and 7.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWM | RWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.47% | 7.47% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.47% | 14.43% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.18% | 23.18% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 22.58% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.99% | 23.07% | -0.08% |