RWM vs. ORCS
RWM (ProShares Short Russell2000) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds. RWM is passively managed, while ORCS is actively managed. At a 0.38 correlation, their price movements are largely independent. RWM charges 0.95%/yr vs 0.97%/yr for ORCS.
Performance
RWM vs. ORCS - Performance Comparison
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Returns By Period
In the year-to-date period, RWM achieves a -15.79% return, which is significantly lower than ORCS's 29.11% return.
RWM
- 1D
- -0.29%
- 1M
- -0.36%
- 6M
- -10.78%
- YTD
- -15.79%
- 1Y
- -22.93%
- 3Y*
- -11.37%
- 5Y*
- -6.34%
- 10Y*
- -11.66%
ORCS
- 1D
- 2.88%
- 1M
- 40.95%
- 6M
- 34.55%
- YTD
- 29.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RWM vs. ORCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RWM ProShares Short Russell2000 | -15.79% | -5.14% |
ORCS Direxion Daily ORCL Bear 1X ETF | 29.11% | 11.07% |
Correlation
The correlation between RWM and ORCS is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.38 |
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Return for Risk
RWM vs. ORCS — Risk / Return Rank
RWM
ORCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
RWM vs. ORCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Russell2000 (RWM) and Direxion Daily ORCL Bear 1X ETF (ORCS). 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 | ORCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.82 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | — | — |
| Martin ratioReturn relative to average drawdown | -1.42 | — | — |
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Drawdowns
RWM vs. ORCS - Drawdown Comparison
The maximum RWM drawdown since its inception was -95.61%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for RWM and ORCS.
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Drawdown Indicators
| RWM | ORCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.61% | -50.25% | -45.36% |
Max Drawdown (1Y)Largest decline over 1 year | -27.57% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -43.12% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -43.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -72.51% | — | — |
Current DrawdownCurrent decline from peak | -95.51% | -7.63% | -87.88% |
Average DrawdownAverage peak-to-trough decline | -74.14% | -16.35% | -57.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.16% | — | — |
Volatility
RWM vs. ORCS - Volatility Comparison
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Volatility by Period
| RWM | ORCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.39% | 59.72% | -40.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.58% | 59.72% | -37.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.08% | 59.72% | -36.64% |
RWM vs. ORCS - Expense Ratio Comparison
RWM has a 0.95% expense ratio, which is lower than ORCS's 0.97% expense ratio.
Dividends
RWM vs. ORCS - Dividend Comparison
RWM's dividend yield for the trailing twelve months is around 3.79%, more than ORCS's 1.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 1.11% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RWM ProShares Short Russell2000 | 3.79% | 3.97% | 6.03% | 4.78% | 0.39% | 0.00% | 0.20% | 1.55% | 0.87% | 0.07% |
Frequently Asked Questions
RWM and ORCS have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RWM is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RWM is cheaper with a 0.95% expense ratio, compared with 0.97% for ORCS.
RWM has the higher dividend yield at 3.79%, compared with 1.11% for ORCS.
They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for RWM and 0.97% for ORCS.
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