BZQ vs. SDEM
BZQ (ProShares UltraShort MSCI Brazil Capped) and SDEM (Global X MSCI SuperDividend Emerging Markets ETF) are both exchange-traded funds - BZQ is a Leveraged Equities fund tracking the MSCI Brazil 25-50 (-200%), while SDEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Top 50 Dividend. Both are passively managed. Over the past 10 years, BZQ returned -34.51%/yr vs 4.14%/yr for SDEM. At a correlation of -0.66, they often move in opposite directions. BZQ charges 0.95%/yr vs 0.67%/yr for SDEM.
Performance
BZQ vs. SDEM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BZQ achieves a -26.41% return, which is significantly lower than SDEM's 11.80% return. Over the past 10 years, BZQ has underperformed SDEM with an annualized return of -34.51%, while SDEM has yielded a comparatively higher 4.14% annualized return.
BZQ
- 1D
- 3.58%
- 1M
- -5.36%
- 6M
- -18.84%
- YTD
- -26.41%
- 1Y
- -49.60%
- 3Y*
- -21.88%
- 5Y*
- -23.87%
- 10Y*
- -34.51%
SDEM
- 1D
- -0.26%
- 1M
- 0.09%
- 6M
- 5.53%
- YTD
- 11.80%
- 1Y
- 26.27%
- 3Y*
- 18.52%
- 5Y*
- 5.18%
- 10Y*
- 4.14%
BZQ vs. SDEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | -26.41% | -57.90% | 98.84% | -49.11% | -44.20% | 6.45% | -52.88% | -48.20% | -21.52% | -49.73% |
SDEM Global X MSCI SuperDividend Emerging Markets ETF | 11.80% | 32.01% | 4.02% | 12.64% | -21.53% | 2.11% | -11.13% | 17.56% | -17.40% | 16.57% |
Correlation
The correlation between BZQ and SDEM is -0.74, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2015 | -0.66 |
The correlation between BZQ and SDEM shifts across timeframes, from -0.74 (1 year) to -0.60 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BZQ vs. SDEM — Risk / Return Rank
BZQ
SDEM
BZQ vs. SDEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) and Global X MSCI SuperDividend Emerging Markets ETF (SDEM). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BZQ | SDEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.86 | ||
| Sortino ratioReturn per unit of downside risk | -4.17 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.32 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 2.92 | -3.69 |
| Martin ratioReturn relative to average drawdown | -1.14 | 8.77 | -9.91 |
Loading charts...
Drawdowns
BZQ vs. SDEM - Drawdown Comparison
The maximum BZQ drawdown since its inception was -99.82%, which is greater than SDEM's maximum drawdown of -47.38%. Use the drawdown chart below to compare losses from any high point for BZQ and SDEM.
Loading charts...
Drawdown Indicators
| BZQ | SDEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.82% | -47.38% | -52.44% |
Max Drawdown (1Y)Largest decline over 1 year | -65.20% | -9.03% | -56.17% |
Max Drawdown (3Y)Largest decline over 3 years | -77.31% | -12.34% | -64.97% |
Max Drawdown (5Y)Largest decline over 5 years | -88.65% | -36.08% | -52.57% |
Max Drawdown (10Y)Largest decline over 10 years | -98.94% | -47.38% | -51.56% |
Current DrawdownCurrent decline from peak | -99.76% | -2.94% | -96.82% |
Average DrawdownAverage peak-to-trough decline | -84.62% | -20.54% | -64.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.47% | 3.00% | +40.47% |
Volatility
BZQ vs. SDEM - Volatility Comparison
ProShares UltraShort MSCI Brazil Capped (BZQ) has a higher volatility of 12.02% compared to Global X MSCI SuperDividend Emerging Markets ETF (SDEM) at 3.79%. This indicates that BZQ's price experiences larger fluctuations and is considered to be riskier than SDEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BZQ | SDEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.02% | 3.79% | +8.23% |
Volatility (6M)Calculated over the trailing 6-month period | 39.97% | 11.71% | +28.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.98% | 14.15% | +35.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.14% | 17.49% | +37.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.57% | 19.06% | +47.51% |
BZQ vs. SDEM - Expense Ratio Comparison
BZQ has a 0.95% expense ratio, which is higher than SDEM's 0.67% expense ratio.
Dividends
BZQ vs. SDEM - Dividend Comparison
BZQ's dividend yield for the trailing twelve months is around 7.50%, more than SDEM's 5.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | 7.50% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% | 0.00% | 0.00% | 0.00% |
SDEM Global X MSCI SuperDividend Emerging Markets ETF | 5.01% | 5.27% | 7.28% | 7.50% | 8.86% | 8.14% | 6.30% | 6.47% | 6.55% | 5.01% | 5.06% | 6.14% |
Frequently Asked Questions
BZQ and SDEM have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BZQ has higher volatility (12.02%) compared to SDEM (3.79%). In terms of maximum drawdown, BZQ dropped -99.82% vs SDEM's -47.38%.
On 10-year performance, SDEM leads with 4.14% vs -34.51% for BZQ. On fees, SDEM is cheaper at 0.67% per year. On volatility, SDEM has been the lower-risk option at 3.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SDEM has performed better with a 4.14% return vs -34.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SDEM is cheaper with a 0.67% expense ratio, compared with 0.95% for BZQ.
BZQ has the higher dividend yield at 7.50%, compared with 5.01% for SDEM.
BZQ is categorized as Leveraged Equities, while SDEM is Emerging Markets Equities. BZQ tracks MSCI Brazil 25-50 (-200%), while SDEM tracks MSCI Emerging Markets Top 50 Dividend. They also come from different issuers: ProShares and Global X. Their fees differ too: 0.95% for BZQ and 0.67% for SDEM.
SDEM currently has the higher Sharpe Ratio (1.87 vs -1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for BZQ and SDEM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer