EET vs. TSMG

Last updated Jun 5, 2026

EET (ProShares Ultra MSCI Emerging Markets) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. EET is passively managed, while TSMG is actively managed. Over the past year, EET returned 108.31% vs 292.24% for TSMG. A 0.65 correlation means they provide meaningful diversification when combined. EET charges 0.95%/yr vs 0.75%/yr for TSMG.

Performance

EET vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra MSCI Emerging Markets (EET) and Leverage Shares 2X Long TSM Daily ETF (TSMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EET achieves a 50.58% return, which is significantly lower than TSMG's 92.52% return.

EET

• 1D: -2.31%
• 1M: 9.26%
• YTD: 50.58%
• 6M: 56.34%
• 1Y: 108.31%
• 3Y*: 37.59%
• 5Y*: 3.59%
• 10Y*: 10.52%

TSMG

• 1D: 3.47%
• 1M: 24.82%
• YTD: 92.52%
• 6M: 104.85%
• 1Y: 292.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EET vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
EET ProShares Ultra MSCI Emerging Markets	50.58%	68.06%
TSMG Leverage Shares 2X Long TSM Daily ETF	92.52%	76.34%

Correlation

The correlation between EET and TSMG is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.65

The correlation between EET and TSMG has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.

Return for Risk

EET vs. TSMG — Risk / Return Rank

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

EET

EET Risk / Return Rank: 78
EET Sharpe Ratio Rank: 85
EET Sortino Ratio Rank: 70
EET Omega Ratio Rank: 74
EET Calmar Ratio Rank: 81
EET Martin Ratio Rank: 79

TSMG

TSMG Risk / Return Rank: 89
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 84
TSMG Omega Ratio Rank: 78
TSMG Calmar Ratio Rank: 95
TSMG Martin Ratio Rank: 94

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. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) and Leverage Shares 2X Long TSM Daily ETF (TSMG). 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.

	EET	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	2.75	4.11	-1.36
Sortino ratio: Return per unit of downside risk	3.12	3.75	-0.63
Omega ratio: Gain probability vs. loss probability	1.43	1.45	-0.02
Calmar ratio: Return relative to maximum drawdown	4.13	8.34	-4.21
Martin ratio: Return relative to average drawdown	15.14	27.23	-12.09
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. TSMG - Sharpe Ratio Comparison

The current EET Sharpe Ratio is 2.75, which is lower than the TSMG Sharpe Ratio of 4.11. The chart below compares the historical Sharpe Ratios of EET and TSMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EET	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.75	4.11	-1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	1.76	-1.64

Drawdowns

EET vs. TSMG - Drawdown Comparison

The maximum EET drawdown since its inception was -71.66%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for EET and TSMG.

Drawdown Indicators

	EET	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-71.66%	-63.67%	-7.99%
Max Drawdown (1Y) Largest decline over 1 year	-26.38%	-35.29%	+8.91%
Max Drawdown (3Y) Largest decline over 3 years	-34.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-64.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	—	—
Current Drawdown Current decline from peak	-4.77%	-0.93%	-3.84%
Average Drawdown Average peak-to-trough decline	-37.26%	-16.94%	-20.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.18%	10.79%	-3.61%

Volatility

EET vs. TSMG - Volatility Comparison

The current volatility for ProShares Ultra MSCI Emerging Markets (EET) is 17.15%, while Leverage Shares 2X Long TSM Daily ETF (TSMG) has a volatility of 22.71%. This indicates that EET experiences smaller price fluctuations and is considered to be less risky than TSMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EET	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.15%	22.71%	-5.56%
Volatility (6M) Calculated over the trailing 6-month period	34.62%	55.10%	-20.48%
Volatility (1Y) Calculated over the trailing 1-year period	39.74%	71.76%	-32.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.79%	80.99%	-43.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.60%	80.99%	-40.39%

EET vs. TSMG - Expense Ratio Comparison

EET has a 0.95% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

EET vs. TSMG - Dividend Comparison

EET's dividend yield for the trailing twelve months is around 1.26%, less than TSMG's 5.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EET ProShares Ultra MSCI Emerging Markets	1.26%	1.82%	3.85%	2.14%	0.00%	0.00%	0.01%	1.40%	0.16%
TSMG Leverage Shares 2X Long TSM Daily ETF	5.96%	11.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EET and TSMG in my portfolio?

EET and TSMG have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EET or TSMG?

TSMG has higher volatility (22.71%) compared to EET (17.15%). In terms of maximum drawdown, EET dropped -71.66% vs TSMG's -63.67%.

Which ETF is better, EET or TSMG?

On 1-year performance, TSMG leads with 292.24% vs 108.31% for EET. On fees, TSMG is cheaper at 0.75% per year. On volatility, EET has been the lower-risk option at 17.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EET or TSMG?

Over the 1-year period, TSMG has performed better with a 292.24% return vs 108.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EET or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 0.95% for EET.

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

TSMG has the higher dividend yield at 5.96%, compared with 1.26% for EET.

What is the main difference between EET and TSMG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EET and 0.75% for TSMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (4.11 vs 2.75), 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.