EEV vs. NIOG
EEV (ProShares UltraShort MSCI Emerging Markets) and NIOG (Leverage Shares 2X Long NIO Daily ETF) are both Leveraged Equities funds - EEV tracks the MSCI Emerging Markets Index (-200%) while NIOG tracks the NIO Inc. (NIO). Both are passively managed. Their -0.37 correlation means they have often moved in opposite directions in the past. EEV charges 0.95%/yr vs 0.75%/yr for NIOG.
Performance
EEV vs. NIOG - Performance Comparison
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Returns By Period
In the year-to-date period, EEV achieves a -35.13% return, which is significantly lower than NIOG's -27.56% return.
EEV
- 1D
- -1.33%
- 1M
- 3.14%
- 6M
- -24.14%
- YTD
- -35.13%
- 1Y
- -50.21%
- 3Y*
- -29.41%
- 5Y*
- -16.05%
- 10Y*
- -21.99%
- ALL TIME*
- -25.39%
NIOG
- 1D
- 2.78%
- 1M
- 2.43%
- 6M
- -13.06%
- YTD
- -27.56%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $291.03K | $257.03K | $533.45K | |
| $119.34K | $154.91K | $404.59K |
EEV vs. NIOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EEV ProShares UltraShort MSCI Emerging Markets | -35.13% | -7.35% |
NIOG Leverage Shares 2X Long NIO Daily ETF | -27.56% | 3.25% |
Correlation
The correlation between EEV and NIOG is -0.37, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025 | -0.37 |
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Return for Risk
EEV vs. NIOG — Risk / Return Rank
EEV
NIOG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EEV vs. NIOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Emerging Markets (EEV) and Leverage Shares 2X Long NIO Daily ETF (NIOG). 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.
| EEV | NIOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.81 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | — | — |
| Martin ratioReturn relative to average drawdown | -1.42 | — | — |
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Drawdowns
EEV vs. NIOG - Drawdown Comparison
The maximum EEV drawdown since its inception was -99.88%, which is greater than NIOG's maximum drawdown of -61.79%. Use the drawdown chart below to compare losses from any high point for EEV and NIOG.
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Drawdown Indicators
| EEV | NIOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.88% | -61.79% | -38.09% |
Max Drawdown (1Y)Largest decline over 1 year | -58.51% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -77.51% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -81.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -93.39% | — | — |
Current DrawdownCurrent decline from peak | -99.86% | -54.61% | -45.25% |
Average DrawdownAverage peak-to-trough decline | -93.04% | -27.99% | -65.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.01% | — | — |
Volatility
EEV vs. NIOG - Volatility Comparison
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Volatility by Period
| EEV | NIOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.23% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 45.21% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 49.49% | 109.44% | -59.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.12% | 109.44% | -69.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.76% | 109.44% | -67.68% |
EEV vs. NIOG - Expense Ratio Comparison
EEV has a 0.95% expense ratio, which is higher than NIOG's 0.75% expense ratio.
Dividends
EEV vs. NIOG - Dividend Comparison
EEV's dividend yield for the trailing twelve months is around 7.22%, while NIOG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EEV ProShares UltraShort MSCI Emerging Markets | 7.22% | 5.40% | 4.45% | 3.45% | 0.27% | 0.00% | 0.14% | 1.34% | 0.38% |
NIOG Leverage Shares 2X Long NIO Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EEV and NIOG have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NIOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NIOG is cheaper with a 0.75% expense ratio, compared with 0.95% for EEV.
EEV has the higher dividend yield at 7.22%, compared with 0.00% for NIOG.
EEV tracks MSCI Emerging Markets Index (-200%), while NIOG tracks NIO Inc. (NIO). They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EEV and 0.75% for NIOG.
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