EEV vs. ORLG

Last updated Jul 17, 2026

EEV (ProShares UltraShort MSCI Emerging Markets) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds - EEV tracks the MSCI Emerging Markets Index (-200%) while ORLG tracks the O'Reilly Automotive, Inc. (ORLY). Both are passively managed. At a 0.10 correlation, their price movements are largely independent. EEV charges 0.95%/yr vs 0.75%/yr for ORLG.

Performance

EEV vs. ORLG - Performance Comparison

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

Returns By Period

EEV

• 1D: 4.65%
• 1M: 12.17%
• 6M: -26.43%
• YTD: -34.75%
• 1Y: -48.40%
• 3Y*: -29.70%
• 5Y*: -14.81%
• 10Y*: -21.92%

ORLG

• 1D: 8.37%
• 1M: -11.93%
• 6M: -23.86%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EEV vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
EEV ProShares UltraShort MSCI Emerging Markets	-27.30%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-25.87%

Correlation

The correlation between EEV and ORLG is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 15, 2026	0.10

Return for Risk

EEV vs. ORLG — Risk / Return Rank

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

EEV

EEV Risk / Return Rank: 2
EEV Sharpe Ratio Rank: 2
EEV Sortino Ratio Rank: 1
EEV Omega Ratio Rank: 1
EEV Calmar Ratio Rank: 2
EEV Martin Ratio Rank: 1

ORLG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

EEV vs. ORLG - 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 ORLY Daily ETF (ORLG). 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	ORLG	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	—	—
Sortino ratio: Return per unit of downside risk	-1.61	—	—
Omega ratio: Gain probability vs. loss probability	0.81	—	—
Calmar ratio: Return relative to maximum drawdown	-0.83	—	—
Martin ratio: Return relative to average drawdown	-1.45	—	—

Drawdowns

EEV vs. ORLG - Drawdown Comparison

The maximum EEV drawdown since its inception was -99.88%, which is greater than ORLG's maximum drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for EEV and ORLG.

Drawdown Indicators

	EEV	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-99.88%	-39.93%	-59.95%
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 Drawdown Current decline from peak	-99.85%	-34.91%	-64.94%
Average Drawdown Average peak-to-trough decline	-93.03%	-20.65%	-72.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.47%	—	—

Volatility

Volatility by Period

	EEV	ORLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	47.95%	59.08%	-11.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.95%	59.08%	-19.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.58%	59.08%	-17.50%

EEV vs. ORLG - Expense Ratio Comparison

EEV has a 0.95% expense ratio, which is higher than ORLG's 0.75% expense ratio.

Dividends

EEV vs. ORLG - Dividend Comparison

EEV's dividend yield for the trailing twelve months is around 7.18%, while ORLG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EEV ProShares UltraShort MSCI Emerging Markets	7.18%	5.40%	4.45%	3.45%	0.27%	0.00%	0.14%	1.34%	0.38%
ORLG Leverage Shares 2X Long ORLY Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EEV and ORLG in my portfolio?

EEV and ORLG have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EEV or ORLG?

On fees, ORLG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EEV or ORLG?

ORLG is cheaper with a 0.75% expense ratio, compared with 0.95% for EEV.

Which ETF pays a higher dividend yield, EEV or ORLG?

EEV has the higher dividend yield at 7.18%, compared with 0.00% for ORLG.

What is the main difference between EEV and ORLG?

EEV tracks MSCI Emerging Markets Index (-200%), while ORLG tracks O'Reilly Automotive, Inc. (ORLY). They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EEV and 0.75% for ORLG.