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 7.22%/yr vs -71.03%/yr for UVXY. Their -0.59 correlation means they have often moved in opposite directions in the past. 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 27.71% return, which is significantly higher than UVXY's -36.18% return. Over the past 10 years, EET has outperformed UVXY with an annualized return of 7.22%, while UVXY has yielded a comparatively lower -71.03% annualized return.
EET
- 1D
- 0.67%
- 1M
- -4.70%
- 6M
- 9.73%
- YTD
- 27.71%
- 1Y
- 64.20%
- 3Y*
- 28.06%
- 5Y*
- 2.81%
- 10Y*
- 7.22%
- ALL TIME*
- 4.11%
UVXY
- 1D
- -1.46%
- 1M
- -7.54%
- 6M
- -33.79%
- YTD
- -36.18%
- 1Y
- -73.63%
- 3Y*
- -63.76%
- 5Y*
- -68.11%
- 10Y*
- -71.03%
- ALL TIME*
- -80.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $506.00K | $1.40M | $1.55M | |
| $186.30M | $190.88M | $236.21M |
EET vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 27.71% | 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 | -36.18% | -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 -0.57, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.57 |
Correlation (3Y) Balances recent behavior with more history. | -0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.55 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | -0.59 |
The correlation between EET and UVXY has been stable across timeframes, ranging from -0.59 to -0.53 - 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.
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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.17 | ||
| Sortino ratioReturn per unit of downside risk | +3.40 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.82 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | -1.03 | +3.39 |
| Martin ratioReturn relative to average drawdown | 6.83 | -1.54 | +8.38 |
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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 | -27.43% | -71.36% | +43.93% |
Max Drawdown (3Y)Largest decline over 3 years | -34.89% | -95.42% | +60.53% |
Max Drawdown (5Y)Largest decline over 5 years | -61.36% | -99.68% | +38.32% |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | -100.00% | +30.93% |
Current DrawdownCurrent decline from peak | -19.80% | -100.00% | +80.20% |
Average DrawdownAverage peak-to-trough decline | -37.04% | -98.76% | +61.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.42% | 51.81% | -42.39% |
Volatility
EET vs. UVXY - Volatility Comparison
The current volatility for ProShares Ultra MSCI Emerging Markets (EET) is 19.37%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 22.30%. This indicates that EET experiences smaller price fluctuations and is considered to be less risky 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 | 19.37% | 22.30% | -2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 45.06% | 65.53% | -20.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.24% | 86.48% | -37.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.77% | 103.34% | -63.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.30% | 112.09% | -70.79% |
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 1.57%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EET ProShares Ultra MSCI Emerging Markets | 1.57% | 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 -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (22.30%) compared to EET (19.37%). In terms of maximum drawdown, EET dropped -71.66% vs UVXY's -100.00%.
On 10-year performance, EET leads with 7.22% vs -71.03% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, EET has been the lower-risk option at 19.37%. 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 7.22% return vs -71.03%. 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 1.57%, 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 (1.31 vs -0.85), 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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