REW vs. FTEC
REW (ProShares UltraShort Technology) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - REW is a Leveraged Equities fund tracking the Dow Jones U.S. Technology Index (-200%), while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, REW returned -43.49%/yr vs 23.84%/yr for FTEC. Their -0.95 correlation means they have often moved in opposite directions in the past. REW charges 0.95%/yr vs 0.08%/yr for FTEC.
Performance
REW vs. FTEC - Performance Comparison
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Returns By Period
In the year-to-date period, REW achieves a -39.32% return, which is significantly lower than FTEC's 20.47% return. Over the past 10 years, REW has underperformed FTEC with an annualized return of -43.49%, while FTEC has yielded a comparatively higher 23.84% annualized return.
REW
- 1D
- 0.08%
- 1M
- 3.53%
- 6M
- -39.26%
- YTD
- -39.32%
- 1Y
- -52.04%
- 3Y*
- -41.68%
- 5Y*
- -35.51%
- 10Y*
- -43.49%
- ALL TIME*
- -36.20%
FTEC
- 1D
- -0.35%
- 1M
- -1.38%
- 6M
- 21.39%
- YTD
- 20.47%
- 1Y
- 35.19%
- 3Y*
- 26.88%
- 5Y*
- 18.05%
- 10Y*
- 23.84%
- ALL TIME*
- 21.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $82.97M | $78.72M | $94.67M | |
| $552.72K | $447.22K | $395.13K |
REW vs. FTEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REW ProShares UltraShort Technology | -39.32% | -43.15% | -33.70% | -61.35% | 65.72% | -53.61% | -71.34% | -56.83% | -10.02% | -49.11% |
FTEC Fidelity MSCI Information Technology Index ETF | 20.47% | 22.11% | 29.40% | 53.30% | -29.59% | 30.49% | 45.83% | 48.93% | -0.39% | 36.83% |
Correlation
The correlation between REW and FTEC is -0.99, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.99 |
Correlation (3Y) Balances recent behavior with more history. | -0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | -0.95 |
The correlation between REW and FTEC has been stable across timeframes, ranging from -0.99 to -0.95 - a consistent structural relationship.
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Return for Risk
REW vs. FTEC — Risk / Return Rank
REW
FTEC
REW vs. FTEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Technology (REW) and Fidelity MSCI Information Technology Index ETF (FTEC). 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.
| REW | FTEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.28 | ||
| Sortino ratioReturn per unit of downside risk | -3.33 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.23 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 1.97 | -2.80 |
| Martin ratioReturn relative to average drawdown | -1.59 | 5.31 | -6.90 |
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Drawdowns
REW vs. FTEC - Drawdown Comparison
The maximum REW drawdown since its inception was -99.99%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for REW and FTEC.
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Drawdown Indicators
| REW | FTEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -34.95% | -65.04% |
Max Drawdown (1Y)Largest decline over 1 year | -60.10% | -16.26% | -43.84% |
Max Drawdown (3Y)Largest decline over 3 years | -86.76% | -27.30% | -59.46% |
Max Drawdown (5Y)Largest decline over 5 years | -93.62% | -34.95% | -58.67% |
Max Drawdown (10Y)Largest decline over 10 years | -99.72% | -34.95% | -64.77% |
Current DrawdownCurrent decline from peak | -99.99% | -10.03% | -89.96% |
Average DrawdownAverage peak-to-trough decline | -86.97% | -5.59% | -81.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.35% | 6.02% | +25.33% |
Volatility
REW vs. FTEC - Volatility Comparison
ProShares UltraShort Technology (REW) has a higher volatility of 19.67% compared to Fidelity MSCI Information Technology Index ETF (FTEC) at 8.49%. This indicates that REW's price experiences larger fluctuations and is considered to be riskier than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REW | FTEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.67% | 8.49% | +11.18% |
Volatility (6M)Calculated over the trailing 6-month period | 44.30% | 20.19% | +24.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.71% | 24.35% | +27.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.29% | 25.87% | +27.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.65% | 24.98% | +24.67% |
REW vs. FTEC - Expense Ratio Comparison
REW has a 0.95% expense ratio, which is higher than FTEC's 0.08% expense ratio.
Dividends
REW vs. FTEC - Dividend Comparison
REW's dividend yield for the trailing twelve months is around 8.21%, more than FTEC's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTEC Fidelity MSCI Information Technology Index ETF | 0.37% | 0.43% | 0.49% | 0.77% | 0.93% | 0.63% | 0.83% | 1.03% | 1.20% | 0.96% | 1.25% | 1.27% |
REW ProShares UltraShort Technology | 8.21% | 6.69% | 5.68% | 5.97% | 0.65% | 0.00% | 0.27% | 1.80% | 0.51% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
REW and FTEC have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REW has higher volatility (19.67%) compared to FTEC (8.49%). In terms of maximum drawdown, REW dropped -99.99% vs FTEC's -34.95%.
On 10-year performance, FTEC leads with 23.84% vs -43.49% for REW. On fees, FTEC is cheaper at 0.08% per year. On volatility, FTEC has been the lower-risk option at 8.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FTEC has performed better with a 23.84% return vs -43.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTEC is cheaper with a 0.08% expense ratio, compared with 0.95% for REW.
REW has the higher dividend yield at 8.21%, compared with 0.37% for FTEC.
REW is categorized as Leveraged Equities, while FTEC is Technology Equities. REW tracks Dow Jones U.S. Technology Index (-200%), while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: ProShares and Fidelity. Their fees differ too: 0.95% for REW and 0.08% for FTEC.
FTEC currently has the higher Sharpe Ratio (1.31 vs -0.97), 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.
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