RWM vs. TSLZ

Last updated Aug 4, 2026

RWM (ProShares Short Russell2000) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. RWM is passively managed, while TSLZ is actively managed. Over the past year, RWM returned -26.16% vs -51.91% for TSLZ. Their 0.48 correlation means their historical movements had little consistent relationship. RWM charges 0.95%/yr vs 1.05%/yr for TSLZ.

Performance

RWM vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Russell2000 (RWM) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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 TSLZ's 35.10% 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%

TSLZ

• 1D: -7.07%
• 1M: 34.14%
• 6M: 23.12%
• YTD: 35.10%
• 1Y: -51.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -72.47%

*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)
RWM ProShares Short Russell2000	$356.63M	$306.99M	$253.47M
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	$39.25M	$32.96M	$42.59M

RWM vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RWM ProShares Short Russell2000	-16.04%	-9.40%	-5.91%	-14.31%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	35.10%	-75.98%	-88.79%	-24.75%

Correlation

The correlation between RWM and TSLZ is 0.50, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.48

Return for Risk

RWM vs. TSLZ — 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

TSLZ

TSLZ Risk / Return Rank: 5
TSLZ Sharpe Ratio Rank: 5
TSLZ Sortino Ratio Rank: 6
TSLZ Omega Ratio Rank: 6
TSLZ Calmar Ratio Rank: 3
TSLZ Martin Ratio Rank: 5

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. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Russell2000 (RWM) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.37	-0.57	-0.80
Sortino ratio: Return per unit of downside risk	-1.94	-0.49	-1.45
Omega ratio: Gain probability vs. loss probability	0.79	0.95	-0.16
Calmar ratio: Return relative to maximum drawdown	-1.01	-0.76	-0.25
Martin ratio: Return relative to average drawdown	-1.68	-0.94	-0.74

RWM vs. TSLZ - Sharpe Ratio Comparison

The current RWM Sharpe Ratio is -1.37, which is lower than the TSLZ Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of RWM and TSLZ, 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. TSLZ - Drawdown Comparison

The maximum RWM drawdown since its inception was -95.61%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for RWM and TSLZ.

Drawdown Indicators

	RWM	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-95.61%	-99.11%	+3.50%
Max Drawdown (1Y) Largest decline over 1 year	-25.97%	-68.61%	+42.64%
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 Drawdown Current decline from peak	-95.52%	-98.58%	+3.06%
Average Drawdown Average peak-to-trough decline	-74.21%	-76.63%	+2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.24%	56.73%	-39.49%

Volatility

RWM vs. TSLZ - Volatility Comparison

The current volatility for ProShares Short Russell2000 (RWM) is 4.04%, while T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a volatility of 36.30%. This indicates that RWM experiences smaller price fluctuations and is considered to be less risky than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWM	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	36.30%	-32.26%
Volatility (6M) Calculated over the trailing 6-month period	14.08%	67.43%	-53.35%
Volatility (1Y) Calculated over the trailing 1-year period	19.24%	91.90%	-72.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.52%	117.66%	-95.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.10%	117.66%	-94.56%

RWM vs. TSLZ - Expense Ratio Comparison

RWM has a 0.95% expense ratio, which is lower than TSLZ's 1.05% expense ratio.

Dividends

RWM vs. TSLZ - Dividend Comparison

RWM's dividend yield for the trailing twelve months is around 3.80%, more than TSLZ's 0.51% 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%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.51%	0.69%	2.08%	12.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RWM and TSLZ in my portfolio?

RWM and TSLZ have a correlation of 0.50, 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 TSLZ?

TSLZ has higher volatility (36.30%) compared to RWM (4.04%). In terms of maximum drawdown, RWM dropped -95.61% vs TSLZ's -99.11%.

Which ETF is better, RWM or TSLZ?

On 1-year performance, RWM leads with -26.16% vs -51.91% for TSLZ. On fees, RWM is cheaper at 0.95% 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.

Which ETF has performed better, RWM or TSLZ?

Over the 1-year period, RWM has performed better with a -26.16% return vs -51.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWM or TSLZ?

RWM is cheaper with a 0.95% expense ratio, compared with 1.05% for TSLZ.

Which ETF pays a higher dividend yield, RWM or TSLZ?

RWM has the higher dividend yield at 3.80%, compared with 0.51% for TSLZ.

What is the main difference between RWM and TSLZ?

They also come from different issuers: ProShares and T-Rex. Their fees differ too: 0.95% for RWM and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLZ currently has the higher Sharpe Ratio (-0.57 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.