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 -11.97%/yr vs 60.98%/yr for BTC-USD. At a correlation of -0.14, they often move in opposite directions.
Performance
RWM vs. BTC-USD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RWM achieves a -15.00% return, which is significantly higher than BTC-USD's -23.17% return. Over the past 10 years, RWM has underperformed BTC-USD with an annualized return of -11.97%, while BTC-USD has yielded a comparatively higher 60.98% annualized return.
RWM
- 1D
- -0.86%
- 1M
- -4.02%
- YTD
- -15.00%
- 6M
- -15.34%
- 1Y
- -28.11%
- 3Y*
- -12.50%
- 5Y*
- -5.55%
- 10Y*
- -11.97%
BTC-USD
- 1D
- 0.85%
- 1M
- -14.42%
- YTD
- -23.17%
- 6M
- -26.37%
- 1Y
- -36.52%
- 3Y*
- 35.33%
- 5Y*
- 12.77%
- 10Y*
- 60.98%
RWM vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWM ProShares Short Russell2000 | -15.00% | -9.40% | -5.91% | -10.43% | 18.34% | -17.90% | -31.04% | -19.83% | 11.57% | -13.61% |
BTC-USD Bitcoin | -23.17% | -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 -0.41, 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 | -0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 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 -0.41, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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.
| RWM | BTC-USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.48 | -0.85 | -0.63 |
Sortino ratioReturn per unit of downside risk | -2.14 | -1.14 | -1.01 |
Omega ratioGain probability vs. loss probability | 0.77 | 0.88 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | -1.00 | -1.07 | +0.06 |
Martin ratioReturn relative to average drawdown | -1.70 | -1.57 | -0.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| RWM | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.48 | -0.85 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.25 | 0.24 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.52 | 0.89 | -1.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | 1.14 | -1.63 |
Drawdowns
RWM vs. BTC-USD - Drawdown Comparison
The maximum RWM drawdown since its inception was -95.47%, 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.
Loading charts...
Drawdown Indicators
| RWM | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.47% | -85.30% | -10.17% |
Max Drawdown (1Y)Largest decline over 1 year | -27.26% | -49.65% | +22.39% |
Max Drawdown (3Y)Largest decline over 3 years | -41.38% | -49.65% | +8.27% |
Max Drawdown (5Y)Largest decline over 5 years | -41.38% | -76.67% | +35.29% |
Max Drawdown (10Y)Largest decline over 10 years | -73.72% | -83.80% | +10.08% |
Current DrawdownCurrent decline from peak | -95.47% | -46.10% | -49.37% |
Average DrawdownAverage peak-to-trough decline | -74.04% | -42.27% | -31.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.63% | 33.71% | -17.08% |
Volatility
RWM vs. BTC-USD - Volatility Comparison
The current volatility for ProShares Short Russell2000 (RWM) is 5.68%, while Bitcoin (BTC-USD) has a volatility of 9.90%. 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.
Loading charts...
Volatility by Period
| RWM | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.68% | 9.90% | -4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 13.50% | 33.98% | -20.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.01% | 35.37% | -16.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 45.01% | -22.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.11% | 56.68% | -33.57% |
Frequently Asked Questions
RWM and BTC-USD have a correlation of -0.41, 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 (9.90%) compared to RWM (5.68%). In terms of maximum drawdown, RWM dropped -95.47% vs BTC-USD's -85.30%.
BTC-USD currently has the higher Sharpe Ratio (-0.85 vs -1.48), 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.
Find the right allocation for RWM and BTC-USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer