EEMA vs. EET

Last updated Jun 25, 2026

EEMA (iShares MSCI Emerging Markets Asia ETF) and EET (ProShares Ultra MSCI Emerging Markets) are both exchange-traded funds - EEMA is a Asia Pacific Equities fund tracking the MSCI Emerging Markets Asia Index, while EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%). Both are passively managed. Over the past 10 years, EEMA returned 10.71%/yr vs 10.67%/yr for EET. Their correlation of 0.91 suggests significant overlap in exposure. EEMA charges 0.50%/yr vs 0.95%/yr for EET.

Performance

EEMA vs. EET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Asia ETF (EEMA) and ProShares Ultra MSCI Emerging Markets (EET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMA achieves a 22.93% return, which is significantly lower than EET's 41.10% return. Both investments have delivered pretty close results over the past 10 years, with EEMA having a 10.71% annualized return and EET not far behind at 10.67%.

EEMA

• 1D: -0.10%
• 1M: 2.27%
• YTD: 22.93%
• 6M: 24.00%
• 1Y: 42.11%
• 3Y*: 23.18%
• 5Y*: 6.37%
• 10Y*: 10.71%

EET

• 1D: -0.60%
• 1M: 2.69%
• YTD: 41.10%
• 6M: 42.83%
• 1Y: 81.79%
• 3Y*: 34.98%
• 5Y*: 2.48%
• 10Y*: 10.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EEMA vs. EET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMA iShares MSCI Emerging Markets Asia ETF	22.93%	33.27%	10.23%	6.57%	-21.49%	-4.22%	25.17%	18.60%	-15.76%	43.41%
EET ProShares Ultra MSCI Emerging Markets	41.10%	63.14%	2.88%	7.06%	-43.07%	-10.93%	18.92%	31.87%	-33.84%	82.41%

Correlation

The correlation between EEMA and EET is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 9, 2012	0.91

The correlation between EEMA and EET has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

EEMA vs. EET - Sectors Allocation Comparison

Sectors	EEMA	EET
Technology	43.4%	-
Financial Services	15.3%	41.4%
Consumer Cyclical	10.4%	-
Industrials	8.4%	-
Communication Services	6.6%	-
Basic Materials	4.4%	-
Healthcare	3.5%	-
Energy	2.8%	-
Consumer Defensive	2.6%	-
Utilities	1.7%	-
Real Estate	0.9%	-

Return for Risk

EEMA vs. EET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EEMA

EEMA Risk / Return Rank: 65
EEMA Sharpe Ratio Rank: 64
EEMA Sortino Ratio Rank: 58
EEMA Omega Ratio Rank: 67
EEMA Calmar Ratio Rank: 67
EEMA Martin Ratio Rank: 66

EET

EET Risk / Return Rank: 62
EET Sharpe Ratio Rank: 63
EET Sortino Ratio Rank: 51
EET Omega Ratio Rank: 61
EET Calmar Ratio Rank: 70
EET Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EEMA vs. EET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Asia ETF (EEMA) and ProShares Ultra MSCI Emerging Markets (EET). 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.

	EEMA	EET	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.83	+0.05
Sortino ratio: Return per unit of downside risk	2.47	2.24	+0.23
Omega ratio: Gain probability vs. loss probability	1.36	1.33	+0.03
Calmar ratio: Return relative to maximum drawdown	2.96	3.12	-0.16
Martin ratio: Return relative to average drawdown	10.68	10.84	-0.16

EEMA vs. EET - Sharpe Ratio Comparison

The current EEMA Sharpe Ratio is 1.88, which is comparable to the EET Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of EEMA and EET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EEMA vs. EET - Drawdown Comparison

The maximum EEMA drawdown since its inception was -44.18%, smaller than the maximum EET drawdown of -71.66%. Use the drawdown chart below to compare losses from any high point for EEMA and EET.

Drawdown Indicators

	EEMA	EET	Difference
Max Drawdown Largest peak-to-trough decline	-44.18%	-71.66%	+27.48%
Max Drawdown (1Y) Largest decline over 1 year	-14.30%	-26.38%	+12.08%
Max Drawdown (3Y) Largest decline over 3 years	-20.23%	-34.89%	+14.66%
Max Drawdown (5Y) Largest decline over 5 years	-40.46%	-64.51%	+24.05%
Max Drawdown (10Y) Largest decline over 10 years	-44.18%	-69.07%	+24.89%
Current Drawdown Current decline from peak	-5.16%	-11.38%	+6.22%
Average Drawdown Average peak-to-trough decline	-13.93%	-37.16%	+23.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	7.57%	-3.62%

Volatility

EEMA vs. EET - Volatility Comparison

The current volatility for iShares MSCI Emerging Markets Asia ETF (EEMA) is 11.70%, while ProShares Ultra MSCI Emerging Markets (EET) has a volatility of 25.42%. This indicates that EEMA experiences smaller price fluctuations and is considered to be less risky than EET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMA	EET	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.70%	25.42%	-13.72%
Volatility (6M) Calculated over the trailing 6-month period	20.07%	41.30%	-21.23%
Volatility (1Y) Calculated over the trailing 1-year period	22.62%	45.20%	-22.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.87%	39.04%	-18.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.04%	40.96%	-19.92%

EEMA vs. EET - Expense Ratio Comparison

EEMA has a 0.50% expense ratio, which is lower than EET's 0.95% expense ratio.

Dividends

EEMA vs. EET - Dividend Comparison

EEMA's dividend yield for the trailing twelve months is around 1.34%, which matches EET's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMA iShares MSCI Emerging Markets Asia ETF	1.34%	1.48%	1.74%	2.02%	1.78%	2.19%	1.15%	1.86%	2.17%	1.74%	1.74%	2.44%
EET ProShares Ultra MSCI Emerging Markets	1.34%	1.82%	3.85%	2.14%	0.00%	0.00%	0.01%	1.40%	0.16%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EEMA and EET in my portfolio?

With a correlation of 0.97, EEMA and EET move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EEMA or EET?

EET has higher volatility (25.42%) compared to EEMA (11.70%). In terms of maximum drawdown, EEMA dropped -44.18% vs EET's -71.66%.

Which ETF is better, EEMA or EET?

On 10-year performance, EEMA leads with 10.71% vs 10.67% for EET. On fees, EEMA is cheaper at 0.50% per year. On volatility, EEMA has been the lower-risk option at 11.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMA or EET?

Over the 10-year period, EEMA has performed better with a 10.71% return vs 10.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMA or EET?

EEMA is cheaper with a 0.50% expense ratio, compared with 0.95% for EET.

Which ETF pays a higher dividend yield, EEMA or EET?

EEMA and EET have nearly identical dividend yields, around 1.34%.

What is the main difference between EEMA and EET?

EEMA is categorized as Asia Pacific Equities, while EET is Leveraged Equities. EEMA tracks MSCI Emerging Markets Asia Index, while EET tracks MSCI Emerging Markets Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.50% for EEMA and 0.95% for EET.

Which has better risk-adjusted returns?

EEMA currently has the higher Sharpe Ratio (1.88 vs 1.83), 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.