BZQ vs. UJB
BZQ (ProShares UltraShort MSCI Brazil Capped) and UJB (ProShares Ultra High Yield) are both exchange-traded funds - BZQ is a Leveraged Equities fund tracking the MSCI Brazil 25-50 (-200%), while UJB is a Leveraged Bonds fund tracking the Markit iBoxx $ Liquid High Yield Index. Both are passively managed. Over the past 10 years, BZQ returned -34.28%/yr vs 5.79%/yr for UJB. Their -0.27 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
BZQ vs. UJB - Performance Comparison
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Returns By Period
In the year-to-date period, BZQ achieves a -31.18% return, which is significantly lower than UJB's 1.03% return. Over the past 10 years, BZQ has underperformed UJB with an annualized return of -34.28%, while UJB has yielded a comparatively higher 5.79% annualized return.
BZQ
- 1D
- 1.68%
- 1M
- -11.20%
- 6M
- -3.41%
- YTD
- -31.18%
- 1Y
- -55.71%
- 3Y*
- -23.89%
- 5Y*
- -25.86%
- 10Y*
- -34.28%
- ALL TIME*
- -29.38%
UJB
- 1D
- 0.58%
- 1M
- -0.40%
- 6M
- 0.07%
- YTD
- 1.03%
- 1Y
- 5.82%
- 3Y*
- 11.10%
- 5Y*
- 2.79%
- 10Y*
- 5.79%
- ALL TIME*
- 6.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $82.44K | $121.14K | $200.97K | |
| $319.40K | $2.11M | $1.46M |
BZQ vs. UJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | -31.18% | -57.90% | 98.84% | -49.11% | -44.20% | 6.45% | -52.88% | -48.20% | -21.52% | -49.73% |
UJB ProShares Ultra High Yield | 1.03% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
Correlation
The correlation between BZQ and UJB is -0.49, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.49 |
Correlation (3Y) Balances recent behavior with more history. | -0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | -0.27 |
Over the past year, the inverse relationship between BZQ and UJB has strengthened: their correlation has moved from -0.27 to -0.49, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
BZQ vs. UJB — Risk / Return Rank
BZQ
UJB
BZQ vs. UJB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) and ProShares Ultra High Yield (UJB). 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 | UJB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.91 | ||
| Sortino ratioReturn per unit of downside risk | -3.09 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.15 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 1.17 | -2.04 |
| Martin ratioReturn relative to average drawdown | -1.28 | 4.79 | -6.06 |
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Drawdowns
BZQ vs. UJB - Drawdown Comparison
The maximum BZQ drawdown since its inception was -99.82%, which is greater than UJB's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for BZQ and UJB.
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Drawdown Indicators
| BZQ | UJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.82% | -40.14% | -59.68% |
Max Drawdown (1Y)Largest decline over 1 year | -64.18% | -5.01% | -59.17% |
Max Drawdown (3Y)Largest decline over 3 years | -77.31% | -9.47% | -67.84% |
Max Drawdown (5Y)Largest decline over 5 years | -88.65% | -30.14% | -58.51% |
Max Drawdown (10Y)Largest decline over 10 years | -98.92% | -40.14% | -58.78% |
Current DrawdownCurrent decline from peak | -99.77% | -0.73% | -99.04% |
Average DrawdownAverage peak-to-trough decline | -84.66% | -6.11% | -78.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.64% | 1.22% | +43.42% |
Volatility
BZQ vs. UJB - Volatility Comparison
ProShares UltraShort MSCI Brazil Capped (BZQ) has a higher volatility of 13.59% compared to ProShares Ultra High Yield (UJB) at 1.67%. This indicates that BZQ's price experiences larger fluctuations and is considered to be riskier than UJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BZQ | UJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.59% | 1.67% | +11.92% |
Volatility (6M)Calculated over the trailing 6-month period | 38.33% | 6.03% | +32.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.09% | 7.37% | +42.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.82% | 14.67% | +40.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.55% | 17.58% | +48.97% |
BZQ vs. UJB - Expense Ratio Comparison
Both BZQ and UJB have an expense ratio of 0.95%.
Dividends
BZQ vs. UJB - Dividend Comparison
BZQ's dividend yield for the trailing twelve months is around 8.02%, more than UJB's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | 8.02% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% | 0.00% | 0.00% | 0.00% |
UJB ProShares Ultra High Yield | 3.20% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
Frequently Asked Questions
BZQ and UJB have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BZQ has higher volatility (13.59%) compared to UJB (1.67%). In terms of maximum drawdown, BZQ dropped -99.82% vs UJB's -40.14%.
On 10-year performance, UJB leads with 5.79% vs -34.28% for BZQ. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UJB has performed better with a 5.79% return vs -34.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BZQ and UJB have the same expense ratio: 0.95% per year.
BZQ has the higher dividend yield at 8.02%, compared with 3.20% for UJB.
BZQ is categorized as Leveraged Equities, while UJB is Leveraged Bonds. BZQ tracks MSCI Brazil 25-50 (-200%), while UJB tracks Markit iBoxx $ Liquid High Yield Index.
UJB currently has the higher Sharpe Ratio (0.80 vs -1.12), 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.
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