RWM vs. SKRE
RWM (ProShares Short Russell2000) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds - RWM tracks the Russell 2000 (-100%) while SKRE tracks the S&P Regional Banks Select Industry. Both are passively managed. Over the past year, RWM returned -26.16% vs -50.55% for SKRE. Their 0.71 correlation means they have sometimes moved together and sometimes differently. RWM charges 0.95%/yr vs 0.75%/yr for SKRE.
Performance
RWM vs. SKRE - Performance Comparison
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Returns By Period
In the year-to-date period, RWM achieves a -16.04% return, which is significantly higher than SKRE's -35.15% 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%
SKRE
- 1D
- -2.27%
- 1M
- -5.74%
- 6M
- -23.25%
- YTD
- -35.15%
- 1Y
- -50.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -41.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $356.63M | $306.99M | $253.47M | |
| $121.93K | $143.27K | $245.32K |
RWM vs. SKRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RWM ProShares Short Russell2000 | -16.04% | -9.40% | -9.02% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | -35.15% | -31.29% | -44.47% |
Correlation
The correlation between RWM and SKRE is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024 | 0.71 |
The correlation between RWM and SKRE has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.
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Return for Risk
RWM vs. SKRE — Risk / Return Rank
RWM
SKRE
RWM vs. SKRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Russell2000 (RWM) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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 | SKRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 0.80 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | -0.99 | -0.03 |
| Martin ratioReturn relative to average drawdown | -1.68 | -1.65 | -0.03 |
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Drawdowns
RWM vs. SKRE - Drawdown Comparison
The maximum RWM drawdown since its inception was -95.61%, which is greater than SKRE's maximum drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for RWM and SKRE.
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Drawdown Indicators
| RWM | SKRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.61% | -79.33% | -16.28% |
Max Drawdown (1Y)Largest decline over 1 year | -25.97% | -51.44% | +25.47% |
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 | -95.52% | -78.96% | -16.56% |
Average DrawdownAverage peak-to-trough decline | -74.21% | -49.09% | -25.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.24% | 30.75% | -13.51% |
Volatility
RWM vs. SKRE - Volatility Comparison
The current volatility for ProShares Short Russell2000 (RWM) is 4.04%, while Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) has a volatility of 10.82%. This indicates that RWM experiences smaller price fluctuations and is considered to be less risky than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWM | SKRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 10.82% | -6.78% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 30.42% | -16.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 45.86% | -26.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.52% | 54.75% | -32.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.10% | 54.75% | -31.65% |
RWM vs. SKRE - Expense Ratio Comparison
RWM has a 0.95% expense ratio, which is higher than SKRE's 0.75% expense ratio.
Dividends
RWM vs. SKRE - Dividend Comparison
RWM's dividend yield for the trailing twelve months is around 3.80%, more than SKRE's 0.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
RWM ProShares Short Russell2000 | 3.80% | 3.97% | 6.03% | 4.78% | 0.39% | 0.00% | 0.20% | 1.55% | 0.87% | 0.07% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | 0.39% | 0.26% | 3.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RWM and SKRE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKRE has higher volatility (10.82%) compared to RWM (4.04%). In terms of maximum drawdown, RWM dropped -95.61% vs SKRE's -79.33%.
On 1-year performance, RWM leads with -26.16% vs -50.55% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, RWM has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RWM has performed better with a -26.16% return vs -50.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKRE is cheaper with a 0.75% expense ratio, compared with 0.95% for RWM.
RWM has the higher dividend yield at 3.80%, compared with 0.39% for SKRE.
RWM tracks Russell 2000 (-100%), while SKRE tracks S&P Regional Banks Select Industry. They also come from different issuers: ProShares and Tuttle. Their fees differ too: 0.95% for RWM and 0.75% for SKRE.
SKRE currently has the higher Sharpe Ratio (-1.11 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.
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