BZQ vs. ERX
Compare and contrast key facts about ProShares UltraShort MSCI Brazil Capped (BZQ) and Direxion Daily Energy Bull 2X Shares (ERX).
BZQ and ERX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BZQ is a passively managed fund by ProShares that tracks the performance of the MSCI Brazil 25-50 (-200%). It was launched on Jun 16, 2009. ERX is a passively managed fund by Direxion that tracks the performance of the Energy Select Sector Index (300%). It was launched on Apr 1, 2020. Both BZQ and ERX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BZQ vs. ERX - Performance Comparison
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BZQ vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | -35.24% | -57.90% | 98.84% | -49.11% | -44.20% | 6.45% | -52.88% | -48.20% | -21.52% | -49.73% |
ERX Direxion Daily Energy Bull 2X Shares | 71.72% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 17.13% | -55.94% | -11.60% |
Returns By Period
In the year-to-date period, BZQ achieves a -35.24% return, which is significantly lower than ERX's 71.72% return. Over the past 10 years, BZQ has underperformed ERX with an annualized return of -38.77%, while ERX has yielded a comparatively higher -6.32% annualized return.
BZQ
- 1D
- -0.31%
- 1M
- -2.23%
- YTD
- -35.24%
- 6M
- -44.95%
- 1Y
- -62.63%
- 3Y*
- -34.64%
- 5Y*
- -32.43%
- 10Y*
- -38.77%
ERX
- 1D
- -7.39%
- 1M
- 7.35%
- YTD
- 71.72%
- 6M
- 71.12%
- 1Y
- 48.19%
- 3Y*
- 21.00%
- 5Y*
- 34.47%
- 10Y*
- -6.32%
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BZQ vs. ERX - Expense Ratio Comparison
BZQ has a 0.95% expense ratio, which is lower than ERX's 1.09% expense ratio.
Return for Risk
BZQ vs. ERX — Risk / Return Rank
BZQ
ERX
BZQ vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) and Direxion Daily Energy Bull 2X Shares (ERX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BZQ | ERX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.22 | 0.97 | -2.19 |
Sortino ratioReturn per unit of downside risk | -2.25 | 1.42 | -3.67 |
Omega ratioGain probability vs. loss probability | 0.75 | 1.21 | -0.45 |
Calmar ratioReturn relative to maximum drawdown | -0.90 | 1.41 | -2.31 |
Martin ratioReturn relative to average drawdown | -1.36 | 2.87 | -4.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BZQ | ERX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.22 | 0.97 | -2.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.59 | 0.66 | -1.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.58 | -0.09 | -0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.46 | -0.09 | -0.38 |
Correlation
The correlation between BZQ and ERX is -0.49. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
BZQ vs. ERX - Dividend Comparison
BZQ's dividend yield for the trailing twelve months is around 8.52%, more than ERX's 1.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | 8.52% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% | 0.00% |
ERX Direxion Daily Energy Bull 2X Shares | 1.56% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
Drawdowns
BZQ vs. ERX - Drawdown Comparison
The maximum BZQ drawdown since its inception was -99.79%, roughly equal to the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for BZQ and ERX.
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Drawdown Indicators
| BZQ | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.79% | -99.54% | -0.25% |
Max Drawdown (1Y)Largest decline over 1 year | -70.23% | -35.17% | -35.06% |
Max Drawdown (5Y)Largest decline over 5 years | -86.86% | -46.90% | -39.96% |
Max Drawdown (10Y)Largest decline over 10 years | -99.37% | -98.59% | -0.78% |
Current DrawdownCurrent decline from peak | -99.79% | -91.33% | -8.46% |
Average DrawdownAverage peak-to-trough decline | -84.38% | -66.78% | -17.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.46% | 17.26% | +29.20% |
Volatility
BZQ vs. ERX - Volatility Comparison
ProShares UltraShort MSCI Brazil Capped (BZQ) has a higher volatility of 22.43% compared to Direxion Daily Energy Bull 2X Shares (ERX) at 13.01%. This indicates that BZQ's price experiences larger fluctuations and is considered to be riskier than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BZQ | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.43% | 13.01% | +9.42% |
Volatility (6M)Calculated over the trailing 6-month period | 39.07% | 29.14% | +9.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.39% | 50.15% | +1.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.41% | 52.18% | +3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.40% | 69.25% | -1.85% |