URTY vs. RWJ

Last updated Jun 4, 2026

URTY (ProShares UltraPro Russell2000) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both exchange-traded funds - URTY is a Leveraged Equities fund tracking the Russell 2000 Index (300%), while RWJ is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, URTY returned 7.72%/yr vs 13.02%/yr for RWJ. Their correlation of 0.93 suggests significant overlap in exposure. URTY charges 0.95%/yr vs 0.39%/yr for RWJ.

Performance

URTY vs. RWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Russell2000 (URTY) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URTY achieves a 46.44% return, which is significantly higher than RWJ's 15.88% return. Over the past 10 years, URTY has underperformed RWJ with an annualized return of 7.72%, while RWJ has yielded a comparatively higher 13.02% annualized return.

URTY

• 1D: -4.07%
• 1M: 9.06%
• YTD: 46.44%
• 6M: 40.44%
• 1Y: 117.82%
• 3Y*: 27.59%
• 5Y*: -6.71%
• 10Y*: 7.72%

RWJ

• 1D: -1.07%
• 1M: 1.90%
• YTD: 15.88%
• 6M: 14.97%
• 1Y: 36.55%
• 3Y*: 16.43%
• 5Y*: 7.73%
• 10Y*: 13.02%

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

URTY vs. RWJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
URTY ProShares UltraPro Russell2000	46.44%	9.26%	7.38%	24.43%	-62.81%	28.47%	-7.72%	72.37%	-39.59%	38.85%
RWJ Invesco S&P SmallCap 600 Revenue ETF	15.88%	7.75%	11.81%	16.21%	-10.97%	52.82%	20.83%	20.29%	-16.95%	5.30%

Correlation

The correlation between URTY and RWJ is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010	0.93

The correlation between URTY and RWJ has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

URTY vs. RWJ - Sectors Allocation Comparison

Sectors	URTY	RWJ
Financial Services	25.3%	11.0%
Technology	7.3%	9.9%
Industrials	6.4%	16.2%
Healthcare	6.1%	11.2%
Consumer Cyclical	2.9%	23.9%
Energy	2.4%	7.4%
Real Estate	2.2%	4.0%
Basic Materials	1.7%	5.2%
Utilities	1.2%	0.9%
Consumer Defensive	0.8%	6.9%
Communication Services	0.8%	3.3%

Return for Risk

URTY vs. RWJ — Risk / Return Rank

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

URTY

URTY Risk / Return Rank: 59
URTY Sharpe Ratio Rank: 60
URTY Sortino Ratio Rank: 52
URTY Omega Ratio Rank: 47
URTY Calmar Ratio Rank: 72
URTY Martin Ratio Rank: 65

RWJ

RWJ Risk / Return Rank: 57
RWJ Sharpe Ratio Rank: 55
RWJ Sortino Ratio Rank: 57
RWJ Omega Ratio Rank: 52
RWJ Calmar Ratio Rank: 65
RWJ Martin Ratio Rank: 58

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.

URTY vs. RWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Russell2000 (URTY) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). 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.

	URTY	RWJ	Difference
Sharpe ratio: Return per unit of total volatility	2.07	1.90	+0.18
Sortino ratio: Return per unit of downside risk	2.55	2.75	-0.19
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio: Return relative to maximum drawdown	3.64	3.25	+0.39
Martin ratio: Return relative to average drawdown	11.96	10.39	+1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

URTY vs. RWJ - Sharpe Ratio Comparison

The current URTY Sharpe Ratio is 2.07, which is comparable to the RWJ Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of URTY and RWJ, 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

	URTY	RWJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	1.90	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.33	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.50	-0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.46	-0.26

Drawdowns

URTY vs. RWJ - Drawdown Comparison

The maximum URTY drawdown since its inception was -88.09%, which is greater than RWJ's maximum drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for URTY and RWJ.

Drawdown Indicators

	URTY	RWJ	Difference
Max Drawdown Largest peak-to-trough decline	-88.09%	-55.97%	-32.12%
Max Drawdown (1Y) Largest decline over 1 year	-32.56%	-11.31%	-21.25%
Max Drawdown (3Y) Largest decline over 3 years	-65.85%	-29.29%	-36.56%
Max Drawdown (5Y) Largest decline over 5 years	-82.76%	-29.29%	-53.47%
Max Drawdown (10Y) Largest decline over 10 years	-88.09%	-51.33%	-36.76%
Current Drawdown Current decline from peak	-39.71%	-1.07%	-38.64%
Average Drawdown Average peak-to-trough decline	-34.79%	-9.24%	-25.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.89%	3.53%	+6.36%

Volatility

URTY vs. RWJ - Volatility Comparison

ProShares UltraPro Russell2000 (URTY) has a higher volatility of 17.18% compared to Invesco S&P SmallCap 600 Revenue ETF (RWJ) at 4.64%. This indicates that URTY's price experiences larger fluctuations and is considered to be riskier than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URTY	RWJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.18%	4.64%	+12.54%
Volatility (6M) Calculated over the trailing 6-month period	40.37%	12.29%	+28.08%
Volatility (1Y) Calculated over the trailing 1-year period	57.33%	19.40%	+37.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.43%	23.71%	+43.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.32%	26.14%	+43.18%

URTY vs. RWJ - Expense Ratio Comparison

URTY has a 0.95% expense ratio, which is higher than RWJ's 0.39% expense ratio.

Dividends

URTY vs. RWJ - Dividend Comparison

URTY's dividend yield for the trailing twelve months is around 0.64%, less than RWJ's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWJ Invesco S&P SmallCap 600 Revenue ETF	1.01%	1.11%	1.15%	1.34%	1.02%	0.61%	0.89%	1.22%	1.44%	1.11%	0.60%	0.74%
URTY ProShares UltraPro Russell2000	0.64%	1.02%	1.16%	0.55%	0.28%	0.00%	0.00%	0.18%	0.28%	0.00%	0.03%	0.00%

Frequently Asked Questions

Can I hold both URTY and RWJ in my portfolio?

URTY and RWJ have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URTY or RWJ?

URTY has higher volatility (17.18%) compared to RWJ (4.64%). In terms of maximum drawdown, URTY dropped -88.09% vs RWJ's -55.97%.

Which ETF is better, URTY or RWJ?

On 10-year performance, RWJ leads with 13.02% vs 7.72% for URTY. On fees, RWJ is cheaper at 0.39% per year. On volatility, RWJ has been the lower-risk option at 4.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URTY or RWJ?

Over the 10-year period, RWJ has performed better with a 13.02% return vs 7.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URTY or RWJ?

RWJ is cheaper with a 0.39% expense ratio, compared with 0.95% for URTY.

Which ETF pays a higher dividend yield, URTY or RWJ?

RWJ has the higher dividend yield at 1.01%, compared with 0.64% for URTY.

What is the main difference between URTY and RWJ?

URTY is categorized as Leveraged Equities, while RWJ is Small Cap Value Equities. URTY tracks Russell 2000 Index (300%), while RWJ tracks S&P SmallCap 600 Revenue-Weighted Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for URTY and 0.39% for RWJ.

Which has better risk-adjusted returns?

URTY currently has the higher Sharpe Ratio (2.07 vs 1.90), 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.