TWM vs. KORU

Last updated Aug 2, 2026

TWM (ProShares UltraShort Russell2000) and KORU (Direxion Daily MSCI South Korea Bull 3X Shares) are both exchange-traded funds - TWM is a Leveraged Equities fund tracking the Russell 2000 (-200%), while KORU is a South Korea Equities fund tracking the MSCI Korea 25/50 Index. Both are passively managed. Over the past 10 years, TWM returned -27.19%/yr vs 2.30%/yr for KORU. Their -0.52 correlation means they have often moved in opposite directions in the past. TWM charges 0.95%/yr vs 1.32%/yr for KORU.

Performance

TWM vs. KORU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Russell2000 (TWM) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TWM achieves a -29.75% return, which is significantly lower than KORU's 65.13% return. Over the past 10 years, TWM has underperformed KORU with an annualized return of -27.19%, while KORU has yielded a comparatively higher 2.30% annualized return.

TWM

• 1D: 1.14%
• 1M: 4.83%
• 6M: -22.08%
• YTD: -29.75%
• 1Y: -47.19%
• 3Y*: -25.83%
• 5Y*: -18.13%
• 10Y*: -27.19%
• ALL TIME*: -27.90%

KORU

• 1D: -7.92%
• 1M: -44.63%
• 6M: -13.80%
• YTD: 65.13%
• 1Y: 302.72%
• 3Y*: 42.96%
• 5Y*: -3.04%
• 10Y*: 2.30%
• ALL TIME*: -1.22%

*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)
KORU Direxion Daily MSCI South Korea Bull 3X Shares	$685.69M	$790.89M	$775.54M
TWM ProShares UltraShort Russell2000	$12.61M	$12.23M	$13.72M

TWM vs. KORU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWM ProShares UltraShort Russell2000	-29.75%	-24.71%	-19.35%	-26.84%	28.43%	-35.43%	-60.01%	-38.40%	19.15%	-26.36%
KORU Direxion Daily MSCI South Korea Bull 3X Shares	65.13%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-59.89%	167.08%

Correlation

The correlation between TWM and KORU is -0.56, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.56
Correlation (3Y) Balances recent behavior with more history.	-0.52
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.55
Correlation (10Y) Provides a long-term view across more market conditions.	-0.54
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013	-0.52

The correlation between TWM and KORU has been stable across timeframes, ranging from -0.56 to -0.52 - a consistent structural relationship.

TWM vs. KORU - Sectors Allocation Comparison

Sectors	TWM	KORU
Financial Services	82.5%	8.8%
Basic Materials	-	1.2%
Communication Services	-	2.6%
Consumer Cyclical	-	4.7%
Consumer Defensive	-	1.7%
Energy	-	1.0%
Healthcare	-	3.1%
Industrials	-	15.4%
Real Estate	-	-
Technology	-	61.3%
Utilities	-	0.3%

Return for Risk

TWM vs. KORU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TWM

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

KORU

KORU Risk / Return Rank: 78
KORU Sharpe Ratio Rank: 74
KORU Sortino Ratio Rank: 77
KORU Omega Ratio Rank: 80
KORU Calmar Ratio Rank: 86
KORU Martin Ratio Rank: 74

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.

TWM vs. KORU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Russell2000 (TWM) and Direxion Daily MSCI South Korea Bull 3X Shares (KORU). 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.

	TWM	KORU	Difference
Sharpe ratio: Return per unit of total volatility	-1.17	1.68	-2.85
Sortino ratio: Return per unit of downside risk	-1.77	2.44	-4.22
Omega ratio: Gain probability vs. loss probability	0.80	1.34	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.89	3.32	-4.21
Martin ratio: Return relative to average drawdown	-1.36	9.21	-10.57

TWM vs. KORU - Sharpe Ratio Comparison

The current TWM Sharpe Ratio is -1.17, which is lower than the KORU Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of TWM and KORU, 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

TWM vs. KORU - Drawdown Comparison

The maximum TWM drawdown since its inception was -99.94%, roughly equal to the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for TWM and KORU.

Drawdown Indicators

	TWM	KORU	Difference
Max Drawdown Largest peak-to-trough decline	-99.94%	-95.79%	-4.15%
Max Drawdown (1Y) Largest decline over 1 year	-50.65%	-80.90%	+30.25%
Max Drawdown (3Y) Largest decline over 3 years	-74.44%	-80.90%	+6.46%
Max Drawdown (5Y) Largest decline over 5 years	-76.78%	-92.74%	+15.96%
Max Drawdown (10Y) Largest decline over 10 years	-96.29%	-95.79%	-0.50%
Current Drawdown Current decline from peak	-99.93%	-76.30%	-23.63%
Average Drawdown Average peak-to-trough decline	-87.36%	-57.44%	-29.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.18%	29.12%	+4.06%

Volatility

TWM vs. KORU - Volatility Comparison

The current volatility for ProShares UltraShort Russell2000 (TWM) is 7.56%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 64.87%. This indicates that TWM experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWM	KORU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	64.87%	-57.31%
Volatility (6M) Calculated over the trailing 6-month period	28.41%	154.02%	-125.61%
Volatility (1Y) Calculated over the trailing 1-year period	38.75%	159.66%	-120.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.99%	96.56%	-51.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.74%	85.82%	-40.08%

TWM vs. KORU - Expense Ratio Comparison

TWM has a 0.95% expense ratio, which is lower than KORU's 1.32% expense ratio.

Dividends

TWM vs. KORU - Dividend Comparison

TWM's dividend yield for the trailing twelve months is around 5.31%, more than KORU's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily MSCI South Korea Bull 3X Shares	0.53%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%
TWM ProShares UltraShort Russell2000	5.31%	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 KORU in my portfolio?

TWM and KORU have a correlation of -0.56, 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 KORU?

KORU has higher volatility (64.87%) compared to TWM (7.56%). In terms of maximum drawdown, TWM dropped -99.94% vs KORU's -95.79%.

Which ETF is better, TWM or KORU?

On 10-year performance, KORU leads with 2.30% vs -27.19% for TWM. On fees, TWM is cheaper at 0.95% per year. On volatility, TWM has been the lower-risk option at 7.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TWM or KORU?

Over the 10-year period, KORU has performed better with a 2.30% return vs -27.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TWM or KORU?

TWM is cheaper with a 0.95% expense ratio, compared with 1.32% for KORU.

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

TWM has the higher dividend yield at 5.31%, compared with 0.53% for KORU.

What is the main difference between TWM and KORU?

TWM is categorized as Leveraged Equities, while KORU is South Korea Equities. TWM tracks Russell 2000 (-200%), while KORU tracks MSCI Korea 25/50 Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for TWM and 1.32% for KORU.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (1.68 vs -1.17), 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.