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EET vs. SPEM
Performance
Return for Risk
Dividends
Drawdowns
Volatility

EET vs. SPEM

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra MSCI Emerging Markets (EET) and SPDR Portfolio Emerging Markets ETF (SPEM).

EET and SPEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EET is a passively managed fund by ProShares that tracks the performance of the MSCI Emerging Markets Index (200%). It was launched on Jun 2, 2009. SPEM is a passively managed fund by State Street that tracks the performance of the S&P Emerging Markets BMI. It was launched on Mar 19, 2007. Both EET and SPEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EET vs. SPEM - Performance Comparison

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

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EET vs. SPEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EET
ProShares Ultra MSCI Emerging Markets		4.32%63.14%2.88%7.06%-43.07%-10.93%18.92%31.87%-33.84%82.41%
SPEM
SPDR Portfolio Emerging Markets ETF		0.21%25.63%11.40%10.51%-17.90%1.51%14.55%19.69%-13.26%34.82%

Returns By Period

In the year-to-date period, EET achieves a 4.32% return, which is significantly higher than SPEM's 0.21% return. Over the past 10 years, EET has underperformed SPEM with an annualized return of 6.49%, while SPEM has yielded a comparatively higher 8.16% annualized return.

EET

1D
7.49%
1M
-18.78%
YTD
4.32%
6M
10.24%
1Y
59.33%
3Y*
21.28%
5Y*
-2.38%
10Y*
6.49%

SPEM

1D
3.17%
1M
-7.13%
YTD
0.21%
6M
1.89%
1Y
22.70%
3Y*
14.39%
5Y*
4.29%
10Y*
8.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Ultra MSCI Emerging Markets

SPDR Portfolio Emerging Markets ETF

Often compared with EET:
EET vs. EFOEET vs. EDCEET vs. XPPEET vs. EEMEET vs. QQQEET vs. EEMAEET vs. VWO
Often compared with SPEM:
SPEM vs. VWOSPEM vs. EEMSPEM vs. EMXCSPEM vs. ESGESPEM vs. BKEMSPEM vs. EMCRSPEM vs. EMGF

EET vs. SPEM - Expense Ratio Comparison

EET has a 0.95% expense ratio, which is higher than SPEM's 0.11% expense ratio.

EET
ProShares Ultra MSCI Emerging Markets
SPEM
SPDR Portfolio Emerging Markets ETF

Return for Risk

EET vs. SPEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EET
EET Risk / Return Rank: 7979
Overall Rank
EET Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
EET Sortino Ratio Rank: 7979
Sortino Ratio Rank
EET Omega Ratio Rank: 7777
Omega Ratio Rank
EET Calmar Ratio Rank: 8181
Calmar Ratio Rank
EET Martin Ratio Rank: 7979
Martin Ratio Rank
SPEM
SPEM Risk / Return Rank: 7474
Overall Rank
SPEM Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SPEM Sortino Ratio Rank: 7474
Sortino Ratio Rank
SPEM Omega Ratio Rank: 7474
Omega Ratio Rank
SPEM Calmar Ratio Rank: 7474
Calmar Ratio Rank
SPEM Martin Ratio Rank: 7272
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. SPEM - Risk-Adjusted Trends Comparison

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

EETSPEMDifference

Sharpe ratio

Return per unit of total volatility

1.48

1.28

+0.20

Sortino ratio

Return per unit of downside risk

1.99

1.80

+0.19

Omega ratio

Gain probability vs. loss probability

1.29

1.26

+0.02

Calmar ratio

Return relative to maximum drawdown

2.23

1.82

+0.41

Martin ratio

Return relative to average drawdown

8.31

7.01

+1.30

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EET vs. SPEM - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 1.48, which is comparable to the SPEM Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of EET and SPEM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

EETSPEMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.48

1.28

+0.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.06

0.25

-0.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.16

0.44

-0.28

Sharpe Ratio (All Time)

Calculated using the full available price history

0.07

0.21

-0.14

Correlation

The correlation between EET and SPEM is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EET vs. SPEM - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.81%, less than SPEM's 2.77% yield.

TTM20252024202320222021202020192018201720162015
EET
ProShares Ultra MSCI Emerging Markets		1.81%1.82%3.85%2.14%0.00%0.00%0.01%1.40%0.16%0.00%0.00%0.00%
SPEM
SPDR Portfolio Emerging Markets ETF		2.77%2.77%2.78%2.80%3.38%3.14%1.92%2.94%2.34%1.12%1.51%2.40%

Drawdowns

EET vs. SPEM - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, which is greater than SPEM's maximum drawdown of -64.41%. Use the drawdown chart below to compare losses from any high point for EET and SPEM.

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Drawdown Indicators

EETSPEMDifference

Max Drawdown

Largest peak-to-trough decline

-71.66%

-64.41%

-7.25%

Max Drawdown (1Y)

Largest decline over 1 year

-26.38%

-12.35%

-14.03%

Max Drawdown (5Y)

Largest decline over 5 years

-64.98%

-31.94%

-33.04%

Max Drawdown (10Y)

Largest decline over 10 years

-69.07%

-36.06%

-33.01%

Current Drawdown

Current decline from peak

-24.01%

-8.56%

-15.45%

Average Drawdown

Average peak-to-trough decline

-37.58%

-14.87%

-22.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.08%

3.20%

+3.88%

Volatility

EET vs. SPEM - Volatility Comparison

ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 21.60% compared to SPDR Portfolio Emerging Markets ETF (SPEM) at 8.25%. This indicates that EET's price experiences larger fluctuations and is considered to be riskier than SPEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EETSPEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

21.60%

8.25%

+13.35%

Volatility (6M)

Calculated over the trailing 6-month period

30.38%

12.23%

+18.15%

Volatility (1Y)

Calculated over the trailing 1-year period

40.28%

17.79%

+22.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.90%

16.95%

+19.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.27%

18.76%

+21.51%