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EET vs. EEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EET vs. EEM

Last updated Jun 24, 2026

EET (ProShares Ultra MSCI Emerging Markets) and EEM (iShares MSCI Emerging Markets ETF) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while EEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index (Net). Both are passively managed. Over the past 10 years, EET returned 10.74%/yr vs 9.87%/yr for EEM. With a 0.99 correlation, they move nearly in lockstep. EET charges 0.95%/yr vs 0.72%/yr for EEM.

Performance

EET vs. EEM - Performance Comparison

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

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Returns By Period

In the year-to-date period, EET achieves a 41.96% return, which is significantly higher than EEM's 23.41% return. Over the past 10 years, EET has outperformed EEM with an annualized return of 10.74%, while EEM has yielded a comparatively lower 9.87% annualized return.

EET

1D
-10.85%
1M
3.31%
YTD
41.96%
6M
44.12%
1Y
92.41%
3Y*
35.25%
5Y*
2.91%
10Y*
10.74%

EEM

1D
-5.67%
1M
2.49%
YTD
23.41%
6M
24.32%
1Y
46.62%
3Y*
22.58%
5Y*
6.54%
10Y*
9.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EET vs. EEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EET
ProShares Ultra MSCI Emerging Markets		41.96%63.14%2.88%7.06%-43.07%-10.93%18.92%31.87%-33.84%82.41%
EEM
iShares MSCI Emerging Markets ETF		23.41%33.98%6.49%8.95%-20.56%-3.63%17.02%18.22%-15.31%37.26%

Correlation

The correlation between EET and EEM is 0.99 - 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

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2009

0.99

The correlation between EET and EEM has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

EET vs. EEM - Sectors Allocation Comparison

Sectors
EET
EEM

Financial Services

41.4%
17.8%

Basic Materials

-

5.7%

Communication Services

-

5.6%

Consumer Cyclical

-

7.2%

Consumer Defensive

-

2.4%

Energy

-

3.0%

Healthcare

-

2.3%

Industrials

-

5.9%

Real Estate

-

0.9%

Technology

-

46.4%

Utilities

-

1.8%

Financial Services

EET
41.4%
EEM
17.8%

Basic Materials

EET

-

EEM
5.7%

Communication Services

EET

-

EEM
5.6%

Consumer Cyclical

EET

-

EEM
7.2%

Consumer Defensive

EET

-

EEM
2.4%

Energy

EET

-

EEM
3.0%

Healthcare

EET

-

EEM
2.3%

Industrials

EET

-

EEM
5.9%

Real Estate

EET

-

EEM
0.9%

Technology

EET

-

EEM
46.4%

Utilities

EET

-

EEM
1.8%

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ProShares Ultra MSCI Emerging Markets

iShares MSCI Emerging Markets ETF

Often compared with EET:
EET vs. EDCEET vs. EFOEET vs. XPPEET vs. QQQEET vs. EEMAEET vs. VWOEET vs. VOO
Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. IS3N.DEEEM vs. VXUSEEM vs. EEMSEEM vs. SPEM

Return for Risk

EET vs. EEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EET
EET Risk / Return Rank: 6666
Overall Rank
EET Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
EET Sortino Ratio Rank: 5353
Sortino Ratio Rank
EET Omega Ratio Rank: 6363
Omega Ratio Rank
EET Calmar Ratio Rank: 7373
Calmar Ratio Rank
EET Martin Ratio Rank: 7171
Martin Ratio Rank
EEM
EEM Risk / Return Rank: 6767
Overall Rank
EEM Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 5757
Sortino Ratio Rank
EEM Omega Ratio Rank: 6969
Omega Ratio Rank
EEM Calmar Ratio Rank: 7171
Calmar Ratio Rank
EEM Martin Ratio Rank: 7070
Martin Ratio Rank
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.

EET vs. EEM - Risk-Adjusted Trends Comparison

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

EETEEMDifference
Sharpe ratioReturn per unit of total volatility
2.06
2.06

0.00

Sortino ratioReturn per unit of downside risk
2.43
2.63

-0.20

Omega ratioGain probability vs. loss probability

1.36

1.39

-0.04

Calmar ratioReturn relative to maximum drawdown

3.52

3.46

+0.06

Martin ratioReturn relative to average drawdown

12.31

12.70

-0.39

EET vs. EEM - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 2.06, which is comparable to the EEM Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of EET and EEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EET vs. EEM - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, which is greater than EEM's maximum drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for EET and EEM.

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Drawdown Indicators

EETEEMDifference

Max Drawdown

Largest peak-to-trough decline

-71.66%

-66.43%

-5.23%

Max Drawdown (1Y)

Largest decline over 1 year

-26.38%

-13.52%

-12.86%

Max Drawdown (3Y)

Largest decline over 3 years

-34.89%

-17.29%

-17.60%

Max Drawdown (5Y)

Largest decline over 5 years

-64.51%

-37.49%

-27.02%

Max Drawdown (10Y)

Largest decline over 10 years

-69.07%

-39.82%

-29.25%

Current Drawdown

Current decline from peak

-10.85%

-5.67%

-5.18%

Average Drawdown

Average peak-to-trough decline

-37.17%

-15.99%

-21.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.54%

3.68%

+3.86%

Volatility

EET vs. EEM - Volatility Comparison

ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 25.42% compared to iShares MSCI Emerging Markets ETF (EEM) at 12.59%. This indicates that EET's price experiences larger fluctuations and is considered to be riskier than EEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EETEEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

25.42%

12.59%

+12.83%

Volatility (6M)

Calculated over the trailing 6-month period

41.32%

20.73%

+20.59%

Volatility (1Y)

Calculated over the trailing 1-year period

45.21%

22.77%

+22.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.05%

19.55%

+19.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.97%

20.67%

+20.30%

EET vs. EEM - Expense Ratio Comparison

EET has a 0.95% expense ratio, which is higher than EEM's 0.72% expense ratio.

Dividends

EET vs. EEM - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.33%, less than EEM's 1.66% yield.

PositionTTM20252024202320222021202020192018201720162015
EEM
iShares MSCI Emerging Markets ETF		1.66%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%
EET
ProShares Ultra MSCI Emerging Markets		1.33%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

With a correlation of 0.99, EET and EEM 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.

EET has higher volatility (25.42%) compared to EEM (12.59%). In terms of maximum drawdown, EET dropped -71.66% vs EEM's -66.43%.

On 10-year performance, EET leads with 10.74% vs 9.87% for EEM. On fees, EEM is cheaper at 0.72% per year. On volatility, EEM has been the lower-risk option at 12.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EET has performed better with a 10.74% return vs 9.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EEM is cheaper with a 0.72% expense ratio, compared with 0.95% for EET.

EEM has the higher dividend yield at 1.66%, compared with 1.33% for EET.

EET is categorized as Leveraged Equities, while EEM is Emerging Markets Diversified. EET tracks MSCI Emerging Markets Index (200%), while EEM tracks MSCI Emerging Markets Index (Net). They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for EET and 0.72% for EEM.

EEM currently has the higher Sharpe Ratio (2.06 vs 2.06), 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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