SRTY vs TWM: which held to its multiple?
Over three months against its own daily promise, SRTY finished 4.4 points over and TWM 3.0 points over. ProShares UltraPro Short Russell2000 and ProShares UltraShort Russell2000.
SRTY returned +25.2% while −3 times IWM's move would have been +20.8%
TWM returned +16.9% while −2 times IWM's move would have been +13.8%
A percentile among the 125 inverse ETFs over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | SRTY | TWM | SRTY | TWM | SRTY | TWM |
| 1 month | +18.0% | +11.9% | +15.6% | +10.4% | +2.4 pts | +1.5 pts |
| 3 months | +25.2% | +16.9% | +20.8% | +13.8% | +4.5 pts | +3.0 pts |
| 6 months | −29.6% | −19.5% | −35.7% | −23.8% | +6.1 pts | +4.3 pts |
| 1 year | −40.2% | −26.1% | −48.1% | −32.0% | +7.8 pts | +6.0 pts |
| 3 years | −83.2% | −64.3% | −187.7% | −125.2% | +104.5 pts | +60.8 pts |
| Since launch SRTY Feb 2010 · TWM Jan 2010 | −100.0% | −99.6% | not meaningful | not meaningful | not meaningful | not meaningful |
SRTY and TWM over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
SRTY and TWM on the same fields, as of Sep 30, 2026. Source: ETFIQ.
SRTY in plain words
Three months to Sep 30, 2026: SRTY returned +25.2% where its own daily promise gave +20.8%, 4.4 points over. Read the multiple against the whole window instead and −3 times IWM's −6.9% implies +20.8%, which makes SRTY look 4.5 points over. 0.0 of that is daily compounding, which happens to any −3 times fund over the same path, and the rest is the fund. SRTY aims to return -3 times IWM's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -3 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. IWM moved at 13% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
TWM in plain words
Three months to Sep 30, 2026: TWM returned +16.9% where its own daily promise gave +13.9%, 3.0 points over. Read the multiple against the whole window instead and −2 times IWM's −6.9% implies +13.8%, which makes TWM look 3.0 points over. 0.1 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. TWM aims to return -2 times IWM's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, SRTY or TWM?
- Over the window to Sep 30, 2026, SRTY finished 4.5 points from what its multiple implies and TWM finished 3.0 points from its own, so TWM came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SRTY and TWM levered on the same thing?
- Yes. Both are levered on the Russell 2000, SRTY at -3 times and TWM at -2 times the daily move.
- Which one decays faster, SRTY or TWM?
- Decay follows how much the underlying moves about. Over this window SRTY’s moved at 13% annualized and TWM’s at 13%, so SRTY has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SRTY or TWM for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, SRTY against TWM, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/srty-vs-twm
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, SRTY against TWM, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/srty-vs-twm Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, SRTY against TWM, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/srty-vs-twm
- APA
- ETFIQ. (Sep 30, 2026). SRTY against TWM. Retrieved from https://etfiq.com/compare/leverage/srty-vs-twm
- Markdown
- [SRTY against TWM (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/srty-vs-twm)