RWM vs. MSFT

Last updated Aug 4, 2026

RWM (ProShares Short Russell2000) is Inverse Equities fund tracking the Russell 2000 (-100%), while MSFT (Microsoft Corporation) is a stock. Over the past 10 years, RWM returned -11.48%/yr vs 25.27%/yr for MSFT. Their -0.52 correlation means they have often moved in opposite directions in the past.

Performance

RWM vs. MSFT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Russell2000 (RWM) and Microsoft Corporation (MSFT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWM achieves a -16.04% return, which is significantly lower than MSFT's 1.28% return. Over the past 10 years, RWM has underperformed MSFT with an annualized return of -11.48%, while MSFT has yielded a comparatively higher 25.27% annualized return.

RWM

• 1D: -1.60%
• 1M: 0.82%
• 6M: -10.93%
• YTD: -16.04%
• 1Y: -26.16%
• 3Y*: -11.17%
• 5Y*: -6.29%
• 10Y*: -11.48%
• ALL TIME*: -12.05%

MSFT

• 1D: 4.93%
• 1M: 24.88%
• 6M: 15.70%
• YTD: 1.28%
• 1Y: -6.21%
• 3Y*: 15.05%
• 5Y*: 12.14%
• 10Y*: 25.27%
• ALL TIME*: 25.30%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSFT Microsoft Corporation	$19.49B	$15.54B	$16.66B
RWM ProShares Short Russell2000	$356.63M	$306.99M	$253.47M

RWM vs. MSFT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWM ProShares Short Russell2000	-16.04%	-9.40%	-5.91%	-10.43%	18.34%	-17.90%	-31.04%	-19.83%	11.57%	-13.61%
MSFT Microsoft Corporation	1.28%	15.58%	12.93%	58.19%	-28.02%	52.48%	42.53%	57.56%	20.80%	40.73%

Correlation

The correlation between RWM and MSFT is -0.18, 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.	-0.18
Correlation (3Y) Balances recent behavior with more history.	-0.31
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.45
Correlation (10Y) Provides a long-term view across more market conditions.	-0.46
Correlation (All Time) Calculated using the full available price history since Jan 25, 2007	-0.52

Over the past year, the inverse relationship between RWM and MSFT has weakened: their correlation has moved from -0.52 to -0.18, meaning they move in opposite directions less often than they have historically.

Return for Risk

RWM vs. MSFT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RWM

RWM Risk / Return Rank: 0
RWM Sharpe Ratio Rank: 0
RWM Sortino Ratio Rank: 1
RWM Omega Ratio Rank: 1
RWM Calmar Ratio Rank: 0
RWM Martin Ratio Rank: 0

MSFT

MSFT Risk / Return Rank: 35
MSFT Sharpe Ratio Rank: 36
MSFT Sortino Ratio Rank: 31
MSFT Omega Ratio Rank: 31
MSFT Calmar Ratio Rank: 39
MSFT Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RWM vs. MSFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Russell2000 (RWM) and Microsoft Corporation (MSFT). 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	MSFT	Difference
Sharpe ratio: Return per unit of total volatility	-1.37	-0.19	-1.17
Sortino ratio: Return per unit of downside risk	-1.94	-0.07	-1.88
Omega ratio: Gain probability vs. loss probability	0.79	0.99	-0.20
Calmar ratio: Return relative to maximum drawdown	-1.01	-0.18	-0.83
Martin ratio: Return relative to average drawdown	-1.68	-0.32	-1.36

RWM vs. MSFT - Sharpe Ratio Comparison

The current RWM Sharpe Ratio is -1.37, which is lower than the MSFT Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of RWM and MSFT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RWM vs. MSFT - Drawdown Comparison

The maximum RWM drawdown since its inception was -95.61%, which is greater than MSFT's maximum drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for RWM and MSFT.

Drawdown Indicators

	RWM	MSFT	Difference
Max Drawdown Largest peak-to-trough decline	-95.61%	-69.38%	-26.23%
Max Drawdown (1Y) Largest decline over 1 year	-25.97%	-34.50%	+8.53%
Max Drawdown (3Y) Largest decline over 3 years	-43.12%	-34.50%	-8.62%
Max Drawdown (5Y) Largest decline over 5 years	-43.12%	-37.15%	-5.97%
Max Drawdown (10Y) Largest decline over 10 years	-72.51%	-37.15%	-35.36%
Current Drawdown Current decline from peak	-95.52%	-9.47%	-86.05%
Average Drawdown Average peak-to-trough decline	-74.21%	-21.80%	-52.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.24%	19.36%	-2.12%

Volatility

RWM vs. MSFT - Volatility Comparison

The current volatility for ProShares Short Russell2000 (RWM) is 4.04%, while Microsoft Corporation (MSFT) has a volatility of 16.43%. This indicates that RWM experiences smaller price fluctuations and is considered to be less risky than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWM	MSFT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	16.43%	-12.39%
Volatility (6M) Calculated over the trailing 6-month period	14.08%	26.83%	-12.75%
Volatility (1Y) Calculated over the trailing 1-year period	19.24%	32.08%	-12.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.52%	28.09%	-5.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.10%	27.67%	-4.57%

Dividends

RWM vs. MSFT - Dividend Comparison

RWM's dividend yield for the trailing twelve months is around 3.80%, more than MSFT's 0.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSFT Microsoft Corporation	0.73%	0.70%	0.73%	0.74%	1.06%	0.68%	0.94%	1.20%	1.69%	1.86%	2.37%	2.33%
RWM ProShares Short Russell2000	3.80%	3.97%	6.03%	4.78%	0.39%	0.00%	0.20%	1.55%	0.87%	0.07%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RWM and MSFT in my portfolio?

RWM and MSFT have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWM or MSFT?

MSFT has higher volatility (16.43%) compared to RWM (4.04%). In terms of maximum drawdown, RWM dropped -95.61% vs MSFT's -69.38%.

Which has better risk-adjusted returns?

MSFT currently has the higher Sharpe Ratio (-0.19 vs -1.37), 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.