EET vs. UUP
EET (ProShares Ultra MSCI Emerging Markets) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 10 years, EET returned 7.88%/yr vs 3.17%/yr for UUP. At a correlation of -0.36, they often move in opposite directions. EET charges 0.95%/yr vs 0.75%/yr for UUP.
Performance
EET vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, EET achieves a 29.50% return, which is significantly higher than UUP's 5.44% return. Over the past 10 years, EET has outperformed UUP with an annualized return of 7.88%, while UUP has yielded a comparatively lower 3.17% annualized return.
EET
- 1D
- -7.04%
- 1M
- -9.71%
- 6M
- 15.99%
- YTD
- 29.50%
- 1Y
- 65.15%
- 3Y*
- 27.46%
- 5Y*
- 1.94%
- 10Y*
- 7.88%
UUP
- 1D
- 0.39%
- 1M
- 1.97%
- 6M
- 4.47%
- YTD
- 5.44%
- 1Y
- 8.28%
- 3Y*
- 5.86%
- 5Y*
- 5.89%
- 10Y*
- 3.17%
EET vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 29.50% | 63.14% | 2.88% | 7.06% | -43.07% | -10.93% | 18.92% | 31.87% | -33.84% | 82.41% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between EET and UUP is -0.40, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2009 | -0.36 |
The correlation between EET and UUP shifts across timeframes, from -0.46 (5 years) to -0.34 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
EET vs. UUP — Risk / Return Rank
EET
UUP
EET vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) and Invesco DB US Dollar Index Bullish Fund (UUP). 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 | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.28 | +0.20 |
| Martin ratioReturn relative to average drawdown | 8.10 | 6.26 | +1.84 |
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Drawdowns
EET vs. UUP - Drawdown Comparison
The maximum EET drawdown since its inception was -71.66%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for EET and UUP.
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Drawdown Indicators
| EET | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.66% | -22.19% | -49.47% |
Max Drawdown (1Y)Largest decline over 1 year | -26.38% | -3.65% | -22.73% |
Max Drawdown (3Y)Largest decline over 3 years | -34.89% | -10.05% | -24.84% |
Max Drawdown (5Y)Largest decline over 5 years | -62.45% | -10.37% | -52.08% |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | -14.24% | -54.83% |
Current DrawdownCurrent decline from peak | -18.67% | -1.26% | -17.41% |
Average DrawdownAverage peak-to-trough decline | -37.10% | -8.88% | -28.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.07% | 1.33% | +6.74% |
Volatility
EET vs. UUP - Volatility Comparison
ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 22.93% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that EET's price experiences larger fluctuations and is considered to be riskier than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EET | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.93% | 1.45% | +21.48% |
Volatility (6M)Calculated over the trailing 6-month period | 43.32% | 4.34% | +38.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.07% | 6.03% | +41.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.43% | 7.22% | +32.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.05% | 6.90% | +34.15% |
EET vs. UUP - Expense Ratio Comparison
EET has a 0.95% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
EET vs. UUP - Dividend Comparison
EET's dividend yield for the trailing twelve months is around 1.55%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 1.55% | 1.82% | 3.85% | 2.14% | 0.00% | 0.00% | 0.01% | 1.40% | 0.16% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.25% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
EET and UUP have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EET has higher volatility (22.93%) compared to UUP (1.45%). In terms of maximum drawdown, EET dropped -71.66% vs UUP's -22.19%.
On 10-year performance, EET leads with 7.88% vs 3.17% for UUP. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.45%. 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 7.88% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UUP is cheaper with a 0.75% expense ratio, compared with 0.95% for EET.
UUP has the higher dividend yield at 3.25%, compared with 1.55% for EET.
EET is categorized as Leveraged Equities, while UUP is Currency. EET tracks MSCI Emerging Markets Index (200%), while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for EET and 0.75% for UUP.
EET currently has the higher Sharpe Ratio (1.39 vs 1.38), 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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