Ranked by net assets, as of . Rebuilt every trading night.
Every leveraged ETF on IWM, largest first
Same underlying, different multiples and different issuers. Two funds stating the same multiple on IWM have still finished points apart.
| # | Ticker | Fund | Says | Net assets | Fee | Fund returned | Label implied | Difference |
|---|---|---|---|---|---|---|---|---|
| 1 | TNA | Direxion Daily Small Cap Bull 3X ETF | +3x | $1.5bn | 1.05% | −6.9% | −3.5% | −3.5 pts |
| 2 | URTY | ProShares UltraPro Russell2000 | +3x | $302m | 0.95% | −7.0% | −3.5% | −3.6 pts |
| 3 | TZA | Direxion Daily Small Cap Bear 3X ETF | -3x | $266m | 0.99% | +4.2% | +3.5% | +0.7 pts |
| 4 | UWM | ProShares Ultra Russell2000 | +2x | $233m | 0.95% | −4.1% | −2.3% | −1.8 pts |
| 5 | RWM | ProShares Short Russell2000 | -1x | $119m | not published | +2.3% | +1.1% | +1.1 pts |
| 6 | SRTY | ProShares UltraPro Short Russell2000 | -3x | $76m | 0.95% | +4.2% | +3.5% | +0.7 pts |
| 7 | TWM | ProShares UltraShort Russell2000 | -2x | $51m | 0.95% | +3.3% | +2.3% | +1.0 pts |
Method
The 7 leveraged and inverse ETFs ETFIQ measures on Small Cap, of which 7 publish net assets. Between them they state -3x, -2x, -1x, +2x, +3x. Each fund’s difference is its own return minus what its stated multiple implies over the same days, which is a different number for every multiple on the list. Over the same days Small Cap itself returned −1.1%. Of each difference the part that is compounding rather than the fund is the same for every fund stating a given multiple, −2.7 at -3x, −1.4 at -2x, −0.4 at -1x, −0.4 at +2x, −1.3 at +3x, in percentage points. What is left is the fund. The ranking is the published field sorted, nothing else: no scoring, no weighting and no view on any fund. Every fund ETFIQ covers in this category is eligible, including funds that have closed, because leaving them out would flatter the category.
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Where these figures came from
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A ranking is not a recommendation and no order on this site is an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources
Cite this page. ETFIQ, Every leveraged ETF on IWM, largest first, ranked by net assets, data as of Sep 11, 2026. https://etfiq.com/rankings/leverage-largest-on-iwm Free to use with attribution; the underlying files are at Open data.