TWM
ProShares UltraShort Russell2000
TWM provides 2x inverse exposure to a market-cap-weighted index of US small-cap companies.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
-39.4 M
ASSETS UNDER MGMT
95 bp
EXPENSES
Fund Basics
| Fund sponsor | ProShares |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 23, 2007 |
| Assets (mns) | $-44 |
| Expense ratio | 95 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Asset Allocation
Historical Performance
Standardized Performance (as of 06/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -2.7% | -23.0% | -21.3% | -23.6% | -26.9% | -24.3% | -- | -28.8% |
| Dividend Yield | 0.8% | 3.5% | 3.1% | 2.4% | 1.3% | 0.8% | -- | 1.7% |
| Total Returns | -1.9% | -19.5% | -18.3% | -21.2% | -25.6% | -23.5% | -- | -27.1% | Ann. Volatility | 53.1% | 49.3% | 44.0% | 45.2% | 46.5% | 45.8% | -- | 50.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | -2.33 | 72% |
| MSCI EAFE | -1.74 | 42% |
| MSCI Emg Mkts | -1.17 | 20% |
Liquidity Measures
| Avg. volume (000) | 169 |
| ADV traded (mns) | $7 |
| Turnover | -17.4% |
| Avg. Bid/Ask (% of price) | 0.07% |
Technical Indicators
| Recent close | $40.46 |
| 30d moving avg. | $45.79 |
| Annualized volatility | 44.2% |
| Relative strength (RSI) | 38 |
| Short interest | -4.3% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| TWM (95 bp) Percentile rank | 93 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| TWM | 95.0 | 6.5 | 101.5 |
| Peer Avg. | 49.0 | 20.0 | 69.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .