RWM vs. YXI
RWM (ProShares Short Russell2000) and YXI (ProShares Short FTSE China 50) are both Inverse Equities funds from ProShares - RWM tracks the Russell 2000 (-100%) while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, RWM returned -11.85%/yr vs -8.25%/yr for YXI. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
RWM vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, RWM achieves a -13.83% return, which is significantly lower than YXI's 8.21% return. Over the past 10 years, RWM has underperformed YXI with an annualized return of -11.85%, while YXI has yielded a comparatively higher -8.25% annualized return.
RWM
- 1D
- 1.37%
- 1M
- -3.30%
- YTD
- -13.83%
- 6M
- -12.66%
- 1Y
- -25.94%
- 3Y*
- -12.10%
- 5Y*
- -5.21%
- 10Y*
- -11.85%
YXI
- 1D
- 1.95%
- 1M
- 2.80%
- YTD
- 8.21%
- 6M
- 9.88%
- 1Y
- 0.05%
- 3Y*
- -11.68%
- 5Y*
- -2.65%
- 10Y*
- -8.25%
RWM vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWM ProShares Short Russell2000 | -13.83% | -9.40% | -5.91% | -10.43% | 18.34% | -17.90% | -31.04% | -19.83% | 11.57% | -13.61% |
YXI ProShares Short FTSE China 50 | 8.21% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between RWM and YXI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2010 | 0.49 |
The correlation between RWM and YXI shifts across timeframes, from 0.38 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RWM vs. YXI — Risk / Return Rank
RWM
YXI
RWM vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Russell2000 (RWM) and ProShares Short FTSE China 50 (YXI). 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 | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.09 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.02 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 0.00 | -0.96 |
| Martin ratioReturn relative to average drawdown | -1.65 | 0.01 | -1.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RWM | YXI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.37 | 0.00 | -1.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | -0.08 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.51 | -0.30 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | -0.30 | -0.18 |
Drawdowns
RWM vs. YXI - Drawdown Comparison
The maximum RWM drawdown since its inception was -95.47%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for RWM and YXI.
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Drawdown Indicators
| RWM | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.47% | -81.15% | -14.32% |
Max Drawdown (1Y)Largest decline over 1 year | -27.26% | -14.21% | -13.05% |
Max Drawdown (3Y)Largest decline over 3 years | -41.38% | -53.12% | +11.74% |
Max Drawdown (5Y)Largest decline over 5 years | -41.38% | -57.65% | +16.27% |
Max Drawdown (10Y)Largest decline over 10 years | -73.72% | -64.92% | -8.80% |
Current DrawdownCurrent decline from peak | -95.41% | -77.90% | -17.51% |
Average DrawdownAverage peak-to-trough decline | -74.04% | -54.31% | -19.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.73% | 8.18% | +7.55% |
Volatility
RWM vs. YXI - Volatility Comparison
The current volatility for ProShares Short Russell2000 (RWM) is 5.84%, while ProShares Short FTSE China 50 (YXI) has a volatility of 7.21%. This indicates that RWM experiences smaller price fluctuations and is considered to be less risky than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWM | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.84% | 7.21% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 13.52% | 14.86% | -1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.07% | 19.97% | -0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.56% | 31.40% | -8.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.11% | 27.42% | -4.31% |
RWM vs. YXI - Expense Ratio Comparison
Both RWM and YXI have an expense ratio of 0.95%.
Dividends
RWM vs. YXI - Dividend Comparison
RWM's dividend yield for the trailing twelve months is around 4.12%, more than YXI's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
RWM ProShares Short Russell2000 | 4.12% | 3.97% | 6.03% | 4.78% | 0.39% | 0.00% | 0.20% | 1.55% | 0.87% | 0.07% |
YXI ProShares Short FTSE China 50 | 2.84% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% | 0.00% |
Frequently Asked Questions
RWM and YXI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.21%) compared to RWM (5.84%). In terms of maximum drawdown, RWM dropped -95.47% vs YXI's -81.15%.
On 10-year performance, YXI leads with -8.25% vs -11.85% for RWM. Both ETFs have the same 0.95% expense ratio. On volatility, RWM has been the lower-risk option at 5.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YXI has performed better with a -8.25% return vs -11.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWM and YXI have the same expense ratio: 0.95% per year.
RWM has the higher dividend yield at 4.12%, compared with 2.84% for YXI.
RWM tracks Russell 2000 (-100%), while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%).
YXI currently has the higher Sharpe Ratio (0.00 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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