TWM vs. TZA
Compare and contrast key facts about ProShares UltraShort Russell2000 (TWM) and Direxion Daily Small Cap Bear 3X Shares (TZA).
TWM and TZA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TWM is a passively managed fund by ProShares that tracks the performance of the Russell 2000 (-200%). It was launched on Jan 23, 2007. TZA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (-300%). It was launched on Nov 5, 2008. Both TWM and TZA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TWM or TZA.
Correlation
The correlation between TWM and TZA is -0.85. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
TWM vs. TZA - Performance Comparison
Key characteristics
TWM:
-0.07
TZA:
-0.17
TWM:
0.24
TZA:
0.25
TWM:
1.03
TZA:
1.03
TWM:
-0.04
TZA:
-0.12
TWM:
-0.17
TZA:
-0.42
TWM:
20.41%
TZA:
29.89%
TWM:
48.31%
TZA:
72.22%
TWM:
-99.90%
TZA:
-100.00%
TWM:
-99.85%
TZA:
-100.00%
Returns By Period
In the year-to-date period, TWM achieves a 22.99% return, which is significantly lower than TZA's 30.43% return. Over the past 10 years, TWM has outperformed TZA with an annualized return of -22.33%, while TZA has yielded a comparatively lower -36.49% annualized return.
TWM
22.99%
1.71%
19.02%
-3.80%
-26.89%
-22.33%
TZA
30.43%
-0.83%
22.42%
-12.84%
-42.26%
-36.49%
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TWM vs. TZA - Expense Ratio Comparison
TWM has a 0.95% expense ratio, which is lower than TZA's 1.11% expense ratio.
Risk-Adjusted Performance
TWM vs. TZA — Risk-Adjusted Performance Rank
TWM
TZA
TWM vs. TZA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Russell2000 (TWM) and Direxion Daily Small Cap Bear 3X Shares (TZA). 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.
Dividends
TWM vs. TZA - Dividend Comparison
TWM's dividend yield for the trailing twelve months is around 5.07%, more than TZA's 4.22% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
TWM ProShares UltraShort Russell2000 | 5.07% | 6.21% | 4.72% | 0.17% | 0.00% | 0.41% | 1.49% | 0.73% | 0.05% |
TZA Direxion Daily Small Cap Bear 3X Shares | 4.22% | 5.40% | 5.49% | 0.00% | 0.00% | 1.21% | 1.57% | 0.63% | 0.00% |
Drawdowns
TWM vs. TZA - Drawdown Comparison
The maximum TWM drawdown since its inception was -99.90%, roughly equal to the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TWM and TZA. For additional features, visit the drawdowns tool.
Volatility
TWM vs. TZA - Volatility Comparison
The current volatility for ProShares UltraShort Russell2000 (TWM) is 28.82%, while Direxion Daily Small Cap Bear 3X Shares (TZA) has a volatility of 43.79%. This indicates that TWM experiences smaller price fluctuations and is considered to be less risky than TZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.