EET vs. AVEM

Last updated Aug 4, 2026

EET (ProShares Ultra MSCI Emerging Markets) and AVEM (Avantis Emerging Markets Equity ETF) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while AVEM is a Emerging Markets Equities fund actively managed by Avantis. EET is passively managed, while AVEM is actively managed. Over the past 5 years, EET returned 2.81%/yr vs 9.17%/yr for AVEM. Their 0.98 correlation means they have historically moved very closely together. EET charges 0.95%/yr vs 0.33%/yr for AVEM.

Performance

EET vs. AVEM - Performance Comparison

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

Returns By Period

In the year-to-date period, EET achieves a 27.71% return, which is significantly higher than AVEM's 17.91% return.

EET

• 1D: 0.67%
• 1M: -4.70%
• 6M: 9.73%
• YTD: 27.71%
• 1Y: 64.20%
• 3Y*: 28.06%
• 5Y*: 2.81%
• 10Y*: 7.22%
• ALL TIME*: 4.11%

AVEM

• 1D: 0.80%
• 1M: -2.39%
• 6M: 8.89%
• YTD: 17.91%
• 1Y: 34.54%
• 3Y*: 21.03%
• 5Y*: 9.17%
• 10Y*: —
• ALL TIME*: 11.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AVEM Avantis Emerging Markets Equity ETF	$187.25M	$189.91M	$183.19M
EET ProShares Ultra MSCI Emerging Markets	$506.00K	$1.40M	$1.55M

EET vs. AVEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EET ProShares Ultra MSCI Emerging Markets	27.71%	63.14%	2.88%	7.06%	-43.07%	-10.93%	18.92%	19.26%
AVEM Avantis Emerging Markets Equity ETF	17.91%	34.48%	7.49%	15.30%	-18.15%	5.16%	14.39%	10.40%

Correlation

The correlation between EET and AVEM is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019	0.98

The correlation between EET and AVEM has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

EET vs. AVEM - Sectors Allocation Comparison

Sectors	EET	AVEM
Financial Services	57.7%	18.9%
Basic Materials	-	6.4%
Communication Services	-	4.9%
Consumer Cyclical	-	7.3%
Consumer Defensive	-	2.7%
Energy	-	3.9%
Healthcare	-	2.6%
Industrials	-	7.9%
Real Estate	-	1.4%
Technology	-	41.9%
Utilities	-	2.2%

Return for Risk

EET vs. AVEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EET

EET Risk / Return Rank: 55
EET Sharpe Ratio Rank: 52
EET Sortino Ratio Rank: 49
EET Omega Ratio Rank: 55
EET Calmar Ratio Rank: 64
EET Martin Ratio Rank: 55

AVEM

AVEM Risk / Return Rank: 62
AVEM Sharpe Ratio Rank: 61
AVEM Sortino Ratio Rank: 56
AVEM Omega Ratio Rank: 64
AVEM Calmar Ratio Rank: 69
AVEM Martin Ratio Rank: 63

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EET vs. AVEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) and Avantis Emerging Markets Equity ETF (AVEM). 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.

	EET	AVEM	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.45	-0.14
Sortino ratio: Return per unit of downside risk	1.82	1.97	-0.15
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.02
Calmar ratio: Return relative to maximum drawdown	2.35	2.43	-0.08
Martin ratio: Return relative to average drawdown	6.83	7.71	-0.87

EET vs. AVEM - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 1.31, which is comparable to the AVEM Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of EET and AVEM, 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

EET vs. AVEM - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, which is greater than AVEM's maximum drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for EET and AVEM.

Drawdown Indicators

	EET	AVEM	Difference
Max Drawdown Largest peak-to-trough decline	-71.66%	-36.05%	-35.61%
Max Drawdown (1Y) Largest decline over 1 year	-27.43%	-14.28%	-13.15%
Max Drawdown (3Y) Largest decline over 3 years	-34.89%	-18.02%	-16.87%
Max Drawdown (5Y) Largest decline over 5 years	-61.36%	-31.81%	-29.55%
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	—	—
Current Drawdown Current decline from peak	-19.80%	-9.93%	-9.87%
Average Drawdown Average peak-to-trough decline	-37.04%	-10.02%	-27.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.42%	4.49%	+4.93%

Volatility

EET vs. AVEM - Volatility Comparison

ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 19.37% compared to Avantis Emerging Markets Equity ETF (AVEM) at 8.83%. This indicates that EET's price experiences larger fluctuations and is considered to be riskier than AVEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EET	AVEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.37%	8.83%	+10.54%
Volatility (6M) Calculated over the trailing 6-month period	45.06%	21.75%	+23.31%
Volatility (1Y) Calculated over the trailing 1-year period	49.24%	23.93%	+25.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.77%	19.33%	+20.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.30%	21.06%	+20.24%

EET vs. AVEM - Expense Ratio Comparison

EET has a 0.95% expense ratio, which is higher than AVEM's 0.33% expense ratio.

Dividends

EET vs. AVEM - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.57%, less than AVEM's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AVEM Avantis Emerging Markets Equity ETF	1.94%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%	0.00%
EET ProShares Ultra MSCI Emerging Markets	1.57%	1.82%	3.85%	2.14%	0.00%	0.00%	0.01%	1.40%	0.16%

Frequently Asked Questions

Can I hold both EET and AVEM in my portfolio?

With a correlation of 0.98, EET and AVEM 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, EET or AVEM?

EET has higher volatility (19.37%) compared to AVEM (8.83%). In terms of maximum drawdown, EET dropped -71.66% vs AVEM's -36.05%.

Which ETF is better, EET or AVEM?

On 5-year performance, AVEM leads with 9.17% vs 2.81% for EET. On fees, AVEM is cheaper at 0.33% per year. On volatility, AVEM has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EET or AVEM?

Over the 5-year period, AVEM has performed better with a 9.17% return vs 2.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EET or AVEM?

AVEM is cheaper with a 0.33% expense ratio, compared with 0.95% for EET.

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

AVEM has the higher dividend yield at 1.94%, compared with 1.57% for EET.

What is the main difference between EET and AVEM?

EET is categorized as Leveraged Equities, while AVEM is Emerging Markets Equities. They also come from different issuers: ProShares and Avantis. Their fees differ too: 0.95% for EET and 0.33% for AVEM.

Which has better risk-adjusted returns?

AVEM currently has the higher Sharpe Ratio (1.45 vs 1.31), 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.