TWM vs. BBSC

Last updated Jun 5, 2026

TWM (ProShares UltraShort Russell2000) and BBSC (JPMorgan BetaBuilders U.S. Small Cap Equity ETF) are both exchange-traded funds - TWM is a Leveraged Equities fund tracking the Russell 2000 (-200%), while BBSC is a Small Cap Blend Equities fund tracking the Morningstar US Small Cap Target Market Exposure Extended Index. Both are passively managed. Over the past 5 years, TWM returned -17.63%/yr vs 6.97%/yr for BBSC. At a correlation of -0.99, they often move in opposite directions. TWM charges 0.95%/yr vs 0.09%/yr for BBSC.

Performance

TWM vs. BBSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Russell2000 (TWM) and JPMorgan BetaBuilders U.S. Small Cap Equity ETF (BBSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TWM achieves a -29.92% return, which is significantly lower than BBSC's 17.51% return.

TWM

• 1D: -3.04%
• 1M: -6.45%
• YTD: -29.92%
• 6M: -26.93%
• 1Y: -50.45%
• 3Y*: -30.55%
• 5Y*: -17.63%
• 10Y*: -27.72%

BBSC

• 1D: 1.52%
• 1M: 2.61%
• YTD: 17.51%
• 6M: 15.05%
• 1Y: 38.14%
• 3Y*: 18.46%
• 5Y*: 6.97%
• 10Y*: —

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

TWM vs. BBSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TWM ProShares UltraShort Russell2000	-29.92%	-24.71%	-19.35%	-26.84%	28.43%	-35.43%	-18.80%
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF	17.51%	10.38%	12.31%	20.07%	-19.75%	15.44%	11.94%

Correlation

The correlation between TWM and BBSC is -0.99, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.99
Correlation (3Y) Calculated over the trailing 3-year period	-0.99
Correlation (5Y) Calculated over the trailing 5-year period	-0.99
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020	-0.99

The correlation between TWM and BBSC has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.

TWM vs. BBSC - Sectors Allocation Comparison

Sectors	TWM	BBSC
Financial Services	76.5%	16.9%
Basic Materials	-	4.1%
Communication Services	-	2.4%
Consumer Cyclical	-	9.0%
Consumer Defensive	-	3.2%
Energy	-	6.4%
Healthcare	-	15.7%
Industrials	-	14.9%
Real Estate	-	7.7%
Technology	-	18.5%
Utilities	-	1.2%

Return for Risk

TWM vs. BBSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TWM

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

BBSC

BBSC Risk / Return Rank: 65
BBSC Sharpe Ratio Rank: 61
BBSC Sortino Ratio Rank: 61
BBSC Omega Ratio Rank: 55
BBSC Calmar Ratio Rank: 79
BBSC Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TWM vs. BBSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Russell2000 (TWM) and JPMorgan BetaBuilders U.S. Small Cap Equity ETF (BBSC). 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.

	TWM	BBSC	Difference
Sharpe ratio: Return per unit of total volatility	-1.32	2.01	-3.33
Sortino ratio: Return per unit of downside risk	-2.14	2.83	-4.97
Omega ratio: Gain probability vs. loss probability	0.77	1.33	-0.56
Calmar ratio: Return relative to maximum drawdown	-1.00	4.02	-5.02
Martin ratio: Return relative to average drawdown	-1.63	13.10	-14.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TWM vs. BBSC - Sharpe Ratio Comparison

The current TWM Sharpe Ratio is -1.32, which is lower than the BBSC Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of TWM and BBSC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TWM	BBSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.32	2.01	-3.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.39	0.31	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.57	0.50	-1.07

Drawdowns

TWM vs. BBSC - Drawdown Comparison

The maximum TWM drawdown since its inception was -99.93%, which is greater than BBSC's maximum drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for TWM and BBSC.

Drawdown Indicators

	TWM	BBSC	Difference
Max Drawdown Largest peak-to-trough decline	-99.93%	-30.96%	-68.97%
Max Drawdown (1Y) Largest decline over 1 year	-50.47%	-9.54%	-40.93%
Max Drawdown (3Y) Largest decline over 3 years	-72.74%	-29.32%	-43.42%
Max Drawdown (5Y) Largest decline over 5 years	-75.23%	-30.96%	-44.27%
Max Drawdown (10Y) Largest decline over 10 years	-96.62%	—	—
Current Drawdown Current decline from peak	-99.93%	0.00%	-99.93%
Average Drawdown Average peak-to-trough decline	-87.28%	-11.48%	-75.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.03%	2.92%	+28.11%

Volatility

TWM vs. BBSC - Volatility Comparison

ProShares UltraShort Russell2000 (TWM) has a higher volatility of 11.50% compared to JPMorgan BetaBuilders U.S. Small Cap Equity ETF (BBSC) at 4.88%. This indicates that TWM's price experiences larger fluctuations and is considered to be riskier than BBSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWM	BBSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.50%	4.88%	+6.62%
Volatility (6M) Calculated over the trailing 6-month period	27.38%	13.05%	+14.33%
Volatility (1Y) Calculated over the trailing 1-year period	38.30%	19.11%	+19.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.11%	22.94%	+22.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.78%	22.86%	+22.92%

TWM vs. BBSC - Expense Ratio Comparison

TWM has a 0.95% expense ratio, which is higher than BBSC's 0.09% expense ratio.

Dividends

TWM vs. BBSC - Dividend Comparison

TWM's dividend yield for the trailing twelve months is around 6.46%, more than BBSC's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF	1.02%	1.13%	1.29%	1.58%	1.37%	1.06%	0.18%	0.00%	0.00%	0.00%
TWM ProShares UltraShort Russell2000	6.46%	5.36%	6.21%	4.72%	0.17%	0.00%	0.41%	1.49%	0.73%	0.05%

Frequently Asked Questions

Can I hold both TWM and BBSC in my portfolio?

TWM and BBSC have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TWM or BBSC?

TWM has higher volatility (11.50%) compared to BBSC (4.88%). In terms of maximum drawdown, TWM dropped -99.93% vs BBSC's -30.96%.

Which ETF is better, TWM or BBSC?

On 5-year performance, BBSC leads with 6.97% vs -17.63% for TWM. On fees, BBSC is cheaper at 0.09% per year. On volatility, BBSC has been the lower-risk option at 4.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TWM or BBSC?

Over the 5-year period, BBSC has performed better with a 6.97% return vs -17.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TWM or BBSC?

BBSC is cheaper with a 0.09% expense ratio, compared with 0.95% for TWM.

Which ETF pays a higher dividend yield, TWM or BBSC?

TWM has the higher dividend yield at 6.46%, compared with 1.02% for BBSC.

What is the main difference between TWM and BBSC?

TWM is categorized as Leveraged Equities, while BBSC is Small Cap Blend Equities. TWM tracks Russell 2000 (-200%), while BBSC tracks Morningstar US Small Cap Target Market Exposure Extended Index. They also come from different issuers: ProShares and JPMorgan. Their fees differ too: 0.95% for TWM and 0.09% for BBSC.

Which has better risk-adjusted returns?

BBSC currently has the higher Sharpe Ratio (2.01 vs -1.32), 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.