# IWM Leveraged ETFs: 2x, 3x & Inverse, Compared

> 7 leveraged and inverse ETFs on IWM: multiple, issuer, fee and net assets. Each against its stated multiple, as of Oct 27, 2026.

Data as of Oct 27, 2026. Rebuilt every trading night.

Data as of Oct 27, 2026 .

## IWM leveraged and inverse ETFs

As of Oct 27, 2026, 7 ETFs aim to return −3x to 3x the daily move in the Russell 2000 (IWM). 2 issuers sell them. Over three months they finished from −3.1 to +2.0 percentage points against what their stated multiples implied.

### Browse leveraged ETFs

### All 7 leveraged and inverse ETFs on IWM

| Ticker | Fund | Issuer | 1M vs multiple | 3M vs multiple | 1Y vs multiple | Net assets | Net assets as of | Fee | Total return 1M | Total return 3M | Total return YTD | Total return 1Y | Total return 3Y | Total return since launch | Multiple |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| TNA | Direxion Daily Small Cap Bull 3X ETF | Direxion | −1.5 pts | −3.1 pts | −20.3 pts | $1.3bn | Oct 26, 2026 | 1.05% | −3.3% | −15.7% | +28.4% | +19.0% | +174.9% | +1,082.5% | +3x |
| URTY | ProShares UltraPro Russell2000 | ProShares | −1.5 pts | −3.1 pts | −20.5 pts | $281m | Oct 27, 2026 | 0.95% | −3.3% | −15.7% | +28.1% | +18.8% | +172.7% | +579.9% | +3x |
| TZA | Direxion Daily Small Cap Bear 3X ETF | Direxion | +0.3 pts | +2.0 pts | +4.8 pts | $235m | Oct 26, 2026 | 0.99% | +2.1% | +14.6% | −36.3% | −34.5% | −87.0% | −100.0% | -3x |
| UWM | ProShares Ultra Russell2000 | ProShares | −0.7 pts | −1.7 pts | −8.8 pts | $218m | Oct 27, 2026 | 0.95% | −1.9% | −10.1% | +22.4% | +17.4% | +133.4% | +252.4% | +2x |
| RWM | ProShares Short Russell2000 | ProShares | +0.5 pts | +1.5 pts | +4.3 pts | $136m | Oct 27, 2026 | 0.95% | +1.1% | +5.7% | −10.5% | −8.8% | −38.3% | −91.4% | -1x |
| SRTY | ProShares UltraPro Short Russell2000 | ProShares | +0.4 pts | +1.9 pts | +4.7 pts | $68m | Oct 27, 2026 | 0.95% | +2.2% | +14.5% | −36.5% | −34.6% | −87.3% | −100.0% | -3x |
| TWM | ProShares UltraShort Russell2000 | ProShares | +0.5 pts | +1.8 pts | +4.6 pts | $60m | Oct 27, 2026 | 0.95% | +1.7% | +10.2% | −23.8% | −21.6% | −70.4% | −99.8% | -2x |

What IWM itself did over the same days: −0.6% over one month, −4.2% over three months, +13.1% over one year.

### Questions people ask

Which 3x IWM ETFs are there? As of Oct 27, 2026, 2 ETFs set out to return 3x the daily move in the Russell 2000 ( IWM ): TNA and URTY. Which 2x IWM ETFs are there? As of Oct 27, 2026, 1 ETF sets out to return 2x the daily move in the Russell 2000 ( IWM ): UWM. Which inverse IWM ETFs are there? As of Oct 27, 2026, 4 ETFs set out to return the opposite of the daily move in the Russell 2000 ( IWM ), from −3x to −1x: TZA , RWM , SRTY and TWM. Which IWM leveraged ETF is largest? TNA , Direxion Daily Small Cap Bull 3X ETF, at $1.3bn in net assets on Oct 26, 2026, the largest of the 7 on IWM with a published size.

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, IWM leveraged and inverse ETFs, data as of Oct 27, 2026. https://etfiq.com/leverage/iwm-leveraged-etfs
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
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