EET vs. UVXY
EET (ProShares Ultra MSCI Emerging Markets) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - EET is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (200%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, EET returned 11.03%/yr vs -72.67%/yr for UVXY. At a correlation of -0.59, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
EET vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, EET achieves a 54.14% return, which is significantly higher than UVXY's -19.06% return. Over the past 10 years, EET has outperformed UVXY with an annualized return of 11.03%, while UVXY has yielded a comparatively lower -72.67% annualized return.
EET
- 1D
- -2.52%
- 1M
- 17.51%
- YTD
- 54.14%
- 6M
- 60.18%
- 1Y
- 118.88%
- 3Y*
- 38.53%
- 5Y*
- 4.07%
- 10Y*
- 11.03%
UVXY
- 1D
- -0.24%
- 1M
- -22.10%
- YTD
- -19.06%
- 6M
- -37.37%
- 1Y
- -72.91%
- 3Y*
- -64.55%
- 5Y*
- -67.90%
- 10Y*
- -72.67%
EET vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 54.14% | 63.14% | 2.88% | 7.06% | -43.07% | -10.93% | 18.92% | 31.87% | -33.84% | 82.41% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -19.06% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between EET and UVXY is -0.55, 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 | -0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2011 | -0.59 |
The correlation between EET and UVXY has been stable across timeframes, ranging from -0.59 to -0.51 - a consistent structural relationship.
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Return for Risk
EET vs. UVXY — Risk / Return Rank
EET
UVXY
EET vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Emerging Markets (EET) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.88 | ||
| Sortino ratioReturn per unit of downside risk | +4.93 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.82 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | -0.97 | +5.50 |
| Martin ratioReturn relative to average drawdown | 16.64 | -1.31 | +17.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EET | UVXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.02 | -0.87 | +3.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | -0.66 | +0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | -0.64 | +0.91 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | -0.68 | +0.80 |
Drawdowns
EET vs. UVXY - Drawdown Comparison
The maximum EET drawdown since its inception was -71.66%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EET and UVXY.
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Drawdown Indicators
| EET | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.66% | -100.00% | +28.34% |
Max Drawdown (1Y)Largest decline over 1 year | -26.38% | -75.22% | +48.84% |
Max Drawdown (3Y)Largest decline over 3 years | -34.89% | -95.45% | +60.56% |
Max Drawdown (5Y)Largest decline over 5 years | -64.88% | -99.68% | +34.80% |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | -100.00% | +30.93% |
Current DrawdownCurrent decline from peak | -2.52% | -100.00% | +97.48% |
Average DrawdownAverage peak-to-trough decline | -37.27% | -98.55% | +61.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.17% | 55.63% | -48.46% |
Volatility
EET vs. UVXY - Volatility Comparison
ProShares Ultra MSCI Emerging Markets (EET) has a higher volatility of 17.46% compared to ProShares Ultra VIX Short-Term Futures ETF (UVXY) at 11.77%. This indicates that EET's price experiences larger fluctuations and is considered to be riskier than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EET | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.46% | 11.77% | +5.69% |
Volatility (6M)Calculated over the trailing 6-month period | 34.52% | 62.64% | -28.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.66% | 84.42% | -44.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.78% | 103.85% | -66.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.60% | 113.82% | -73.22% |
EET vs. UVXY - Expense Ratio Comparison
Both EET and UVXY have an expense ratio of 0.95%.
Dividends
EET vs. UVXY - Dividend Comparison
EET's dividend yield for the trailing twelve months is around 1.23%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 1.23% | 1.82% | 3.85% | 2.14% | 0.00% | 0.00% | 0.01% | 1.40% | 0.16% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EET and UVXY have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EET has higher volatility (17.46%) compared to UVXY (11.77%). In terms of maximum drawdown, EET dropped -71.66% vs UVXY's -100.00%.
On 10-year performance, EET leads with 11.03% vs -72.67% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, UVXY has been the lower-risk option at 11.77%. 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 11.03% return vs -72.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EET and UVXY have the same expense ratio: 0.95% per year.
EET has the higher dividend yield at 1.23%, compared with 0.00% for UVXY.
EET is categorized as Leveraged Equities, while UVXY is Volatility. EET tracks MSCI Emerging Markets Index (200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
EET currently has the higher Sharpe Ratio (3.02 vs -0.87), 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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