MSFD vs. RWM
Compare and contrast key facts about Direxion Daily MSFT Bear 1X Shares (MSFD) and ProShares Short Russell2000 (RWM).
MSFD and RWM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSFD is a passively managed fund by Direxion that tracks the performance of the Microsoft Corporation (-100%). It was launched on Sep 6, 2022. 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 MSFD 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
MSFD vs. RWM - Performance Comparison
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MSFD vs. RWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | 28.73% | -13.36% | -7.86% | -35.90% | 3.88% |
RWM ProShares Short Russell2000 | -0.52% | -9.40% | -5.91% | -10.43% | 2.56% |
Returns By Period
In the year-to-date period, MSFD achieves a 28.73% return, which is significantly higher than RWM's -0.52% return.
MSFD
- 1D
- -3.15%
- 1M
- 6.11%
- YTD
- 28.73%
- 6M
- 38.42%
- 1Y
- -0.32%
- 3Y*
- -7.18%
- 5Y*
- —
- 10Y*
- —
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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MSFD vs. RWM - Expense Ratio Comparison
MSFD has a 1.06% expense ratio, which is higher than RWM's 0.95% expense ratio.
Return for Risk
MSFD vs. RWM — Risk / Return Rank
MSFD
RWM
MSFD vs. RWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bear 1X Shares (MSFD) 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.
| MSFD | RWM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.01 | -0.83 | +0.82 |
Sortino ratioReturn per unit of downside risk | 0.17 | -1.09 | +1.26 |
Omega ratioGain probability vs. loss probability | 1.02 | 0.87 | +0.16 |
Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.54 | +0.56 |
Martin ratioReturn relative to average drawdown | 0.03 | -0.74 | +0.77 |
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
| MSFD | RWM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | -0.83 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.13 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.39 | -0.46 | +0.07 |
Correlation
The correlation between MSFD and RWM is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MSFD vs. RWM - Dividend Comparison
MSFD's dividend yield for the trailing twelve months is around 2.43%, less than RWM's 3.57% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | 2.43% | 3.33% | 4.46% | 4.43% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RWM ProShares Short Russell2000 | 3.57% | 3.97% | 6.03% | 4.78% | 0.39% | 0.00% | 0.20% | 1.55% | 0.87% | 0.07% |
Drawdowns
MSFD vs. RWM - Drawdown Comparison
The maximum MSFD drawdown since its inception was -59.90%, smaller than the maximum RWM drawdown of -95.12%. Use the drawdown chart below to compare losses from any high point for MSFD and RWM.
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Drawdown Indicators
| MSFD | RWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.90% | -95.12% | +35.22% |
Max Drawdown (1Y)Largest decline over 1 year | -34.84% | -34.53% | -0.31% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.94% | — |
Current DrawdownCurrent decline from peak | -41.94% | -94.70% | +52.76% |
Average DrawdownAverage peak-to-trough decline | -41.28% | -73.85% | +32.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.22% | 25.23% | -0.01% |
Volatility
MSFD vs. RWM - Volatility Comparison
The current volatility for Direxion Daily MSFT Bear 1X Shares (MSFD) is 6.60%, while ProShares Short Russell2000 (RWM) has a volatility of 7.47%. This indicates that MSFD experiences smaller price fluctuations and is considered to be less risky than RWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFD | RWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.60% | 7.47% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 18.84% | 14.43% | +4.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.78% | 23.18% | +3.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.77% | 22.58% | +3.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.77% | 23.07% | +2.70% |