ATLASProShares UltraShort Russell2000 (TWM): outlook, holdings and fees
ProShares UltraShort Russell2000 (TWM) is an exchange-traded fund and is managed by ProShares. The expense ratio is 0.94% and the yield is 3.83%. The ten largest holdings are 213% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on TWM
| Last price | $23.45 (-2.2%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 50% |
| Likely 1-month range (50%) | $22.13 – $24.89 |
| Normal 1-day range (±1σ) | ±2.0% |
| Distribution yield | 3.83% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
TWM fund facts
| Issuer | ProShares |
|---|---|
| Theme | Inverse (short) |
| Assets under management | $66.2M |
| Expense ratio | 0.94% |
| Number of holdings | 10 |
| Portfolio turnover | 0% |
| Inception | Jan 23, 2007 |
| Exchange | NYSE |
The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The index is designed to measure the performance of the small-cap segment of the U.S. markets. Under normal circumstances, the fund will obtain inverse leveraged exposure to at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. The fund is non-diversified.
TWM top holdings
| Holding | Sector | Weight |
|---|---|---|
| Russell 2000 Index Swap Societe Generale | – | 57.04% |
| Russell 2000 Index Swap Morgan Stanley & Co. International Plc | – | 55.38% |
| Russell 2000 Index Swap Bank Of America Na | – | 23.74% |
| Russell 2000 Index Swap Ubs Ag | – | 23.77% |
| Ishares Russell 2000 Swap Morgan Stanley & Co. International Plc | – | 19.26% |
| Russell 2000 Index Swap Barclays Capital Citibank Na | – | 8.27% |
| E-mini Russell 2000 Index Future Mar 21 | – | 7.21% |
| United States Treasury Bills | – | 6.62% |
| E-Mini Russ 2000 Equity Index 16/Sep/2022 Rtyu2 Index | – | 5.89% |
| E-Mini Russ 2000 Equity Index 16/Sep/2022 Rtyu2 Index - Cash Offset | – | 5.89% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
TWM returns and risk
| Year to date | -22.9% |
|---|---|
| 1 year | -25.4% |
| 3 years (annualised) | -28.8% |
| 5 years (annualised) | -16.5% |
| 10 years (annualised) | -27.3% |
| Volatility (3 years) | 37.2% |
| Sharpe ratio (3 years) | -0.86 |
Past returns do not guarantee future results.
TWM: frequently asked questions
What does TWM invest in?
ProShares UltraShort Russell2000 invests in a portfolio of securities. Its largest holdings are Russell 2000 Index Swap Societe Generale (57.0%), Russell 2000 Index Swap Morgan Stanley & Co. International Plc (55.4%), Russell 2000 Index Swap Bank Of America Na (23.7%), Russell 2000 Index Swap Ubs Ag (23.8%), Ishares Russell 2000 Swap Morgan Stanley & Co. International Plc (19.3%).
What is the TWM expense ratio?
0.94% a year: about $94.00 for every $10,000 invested.
What is the TWM dividend yield?
3.83%. ATLAS does not hold the exact distribution dates for ETFs.
Will TWM go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 50%, with a likely range (50%) of $22.13 to $24.89 from $23.45 today. It is a probability, not a prediction.
How has TWM performed?
Year to date -22.9%, one year -25.4%, three years -28.8% a year, five years -16.5% a year. Past returns do not guarantee future results.
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Educational information, not investment advice. Disclaimer