RWM vs. BTC-USD
RWM (ProShares Short Russell2000) is Inverse Equities fund tracking the Russell 2000 (-100%), while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, RWM returned -12.35%/yr vs 57.41%/yr for BTC-USD. At a correlation of -0.14, they often move in opposite directions.
Performance
RWM vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, RWM achieves a -16.29% return, which is significantly higher than BTC-USD's -28.07% return. Over the past 10 years, RWM has underperformed BTC-USD with an annualized return of -12.35%, while BTC-USD has yielded a comparatively higher 57.41% annualized return.
RWM
- 1D
- 0.89%
- 1M
- -3.67%
- YTD
- -16.29%
- 6M
- -14.25%
- 1Y
- -27.19%
- 3Y*
- -13.21%
- 5Y*
- -5.30%
- 10Y*
- -12.35%
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
RWM vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWM ProShares Short Russell2000 | -16.29% | -9.40% | -5.91% | -10.43% | 18.34% | -17.90% | -31.04% | -19.83% | 11.57% | -13.61% |
BTC-USD Bitcoin | -28.07% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between RWM and BTC-USD is -0.40, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2012 | -0.14 |
Over the past year, the inverse relationship between RWM and BTC-USD has strengthened: their correlation has moved from -0.14 to -0.40, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
RWM vs. BTC-USD — Risk / Return Rank
RWM
BTC-USD
RWM vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Russell2000 (RWM) and Bitcoin (BTC-USD). 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.
| RWM | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.86 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.79 | -0.20 |
| Martin ratioReturn relative to average drawdown | -1.74 | -1.32 | -0.42 |
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Drawdowns
RWM vs. BTC-USD - Drawdown Comparison
The maximum RWM drawdown since its inception was -95.58%, which is greater than BTC-USD's maximum drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for RWM and BTC-USD.
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Drawdown Indicators
| RWM | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.58% | -85.30% | -10.28% |
Max Drawdown (1Y)Largest decline over 1 year | -27.70% | -51.21% | +23.51% |
Max Drawdown (3Y)Largest decline over 3 years | -42.69% | -51.21% | +8.52% |
Max Drawdown (5Y)Largest decline over 5 years | -42.69% | -76.67% | +33.98% |
Max Drawdown (10Y)Largest decline over 10 years | -74.31% | -83.80% | +9.49% |
Current DrawdownCurrent decline from peak | -95.54% | -49.54% | -46.00% |
Average DrawdownAverage peak-to-trough decline | -74.08% | -42.40% | -31.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.76% | 31.29% | -15.53% |
Volatility
RWM vs. BTC-USD - Volatility Comparison
The current volatility for ProShares Short Russell2000 (RWM) is 6.51%, while Bitcoin (BTC-USD) has a volatility of 12.23%. This indicates that RWM experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWM | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.51% | 12.23% | -5.72% |
Volatility (6M)Calculated over the trailing 6-month period | 14.28% | 34.57% | -20.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.61% | 35.70% | -16.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.64% | 44.26% | -21.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.14% | 56.41% | -33.27% |
Frequently Asked Questions
RWM and BTC-USD have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (12.23%) compared to RWM (6.51%). In terms of maximum drawdown, RWM dropped -95.58% vs BTC-USD's -85.30%.
BTC-USD currently has the higher Sharpe Ratio (-0.94 vs -1.39), 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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