EEV vs. SARK

Last updated Jun 4, 2026

EEV (ProShares UltraShort MSCI Emerging Markets) and SARK (Tradr Short Innovation Daily ETF) are both exchange-traded funds - EEV is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (-200%), while SARK is a Inverse Equities fund actively managed by AXS. EEV is passively managed, while SARK is actively managed. Over the past 3 years, EEV returned -34.25%/yr vs -30.74%/yr for SARK. A 0.58 correlation means they provide meaningful diversification when combined. EEV charges 0.95%/yr vs 0.75%/yr for SARK.

Performance

EEV vs. SARK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort MSCI Emerging Markets (EEV) and Tradr Short Innovation Daily ETF (SARK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEV achieves a -42.06% return, which is significantly lower than SARK's -6.78% return.

EEV

• 1D: 2.35%
• 1M: -17.39%
• YTD: -42.06%
• 6M: -44.23%
• 1Y: -60.04%
• 3Y*: -34.25%
• 5Y*: -15.62%
• 10Y*: -24.13%

SARK

• 1D: 2.29%
• 1M: -0.49%
• YTD: -6.78%
• 6M: -2.33%
• 1Y: -33.81%
• 3Y*: -30.74%
• 5Y*: —
• 10Y*: —

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

EEV vs. SARK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EEV ProShares UltraShort MSCI Emerging Markets	-42.06%	-43.35%	-8.08%	-13.08%	37.05%	5.05%
SARK Tradr Short Innovation Daily ETF	-6.78%	-25.93%	-36.90%	-46.32%	83.35%	20.78%

Correlation

The correlation between EEV and SARK is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	0.58

The correlation between EEV and SARK has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.

Return for Risk

EEV vs. SARK — Risk / Return Rank

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

EEV

EEV Risk / Return Rank: 0
EEV Sharpe Ratio Rank: 0
EEV Sortino Ratio Rank: 0
EEV Omega Ratio Rank: 0
EEV Calmar Ratio Rank: 0
EEV Martin Ratio Rank: 0

SARK

SARK Risk / Return Rank: 2
SARK Sharpe Ratio Rank: 2
SARK Sortino Ratio Rank: 2
SARK Omega Ratio Rank: 2
SARK Calmar Ratio Rank: 2
SARK Martin Ratio Rank: 4

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. SARK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Emerging Markets (EEV) and Tradr Short Innovation Daily ETF (SARK). 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.

	EEV	SARK	Difference
Sharpe ratio Return per unit of total volatility	-1.49	-0.95	-0.55
Sortino ratio Return per unit of downside risk	-2.69	-1.30	-1.39
Omega ratio Gain probability vs. loss probability	0.69	0.86	-0.17
Calmar ratio Return relative to maximum drawdown	-1.01	-0.83	-0.17
Martin ratio Return relative to average drawdown	-1.85	-1.11	-0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEV vs. SARK - Sharpe Ratio Comparison

The current EEV Sharpe Ratio is -1.49, which is lower than the SARK Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of EEV and SARK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EEV	SARK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.49	-0.95	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.41	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	-0.24	-0.24

Drawdowns

EEV vs. SARK - Drawdown Comparison

The maximum EEV drawdown since its inception was -99.87%, which is greater than SARK's maximum drawdown of -81.07%. Use the drawdown chart below to compare losses from any high point for EEV and SARK.

Drawdown Indicators

	EEV	SARK	Difference
Max Drawdown Largest peak-to-trough decline	-99.87%	-81.07%	-18.80%
Max Drawdown (1Y) Largest decline over 1 year	-59.83%	-40.75%	-19.08%
Max Drawdown (3Y) Largest decline over 3 years	-76.45%	-74.42%	-2.03%
Max Drawdown (5Y) Largest decline over 5 years	-80.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-94.21%	—	—
Current Drawdown Current decline from peak	-99.87%	-79.42%	-20.45%
Average Drawdown Average peak-to-trough decline	-93.00%	-46.46%	-46.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.15%	30.47%	+3.68%

Volatility

EEV vs. SARK - Volatility Comparison

ProShares UltraShort MSCI Emerging Markets (EEV) has a higher volatility of 17.59% compared to Tradr Short Innovation Daily ETF (SARK) at 9.13%. This indicates that EEV's price experiences larger fluctuations and is considered to be riskier than SARK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEV	SARK	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.59%	9.13%	+8.46%
Volatility (6M) Calculated over the trailing 6-month period	35.59%	25.05%	+10.54%
Volatility (1Y) Calculated over the trailing 1-year period	40.37%	35.91%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.25%	56.24%	-17.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.13%	56.24%	-15.11%

EEV vs. SARK - Expense Ratio Comparison

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

Dividends

EEV vs. SARK - Dividend Comparison

EEV's dividend yield for the trailing twelve months is around 7.46%, more than SARK's 3.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EEV ProShares UltraShort MSCI Emerging Markets	7.46%	5.40%	4.45%	3.45%	0.27%	0.00%	0.14%	1.34%	0.38%
SARK Tradr Short Innovation Daily ETF	3.02%	2.82%	15.49%	12.57%	25.22%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EEV and SARK in my portfolio?

EEV and SARK have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEV or SARK?

EEV has higher volatility (17.59%) compared to SARK (9.13%). In terms of maximum drawdown, EEV dropped -99.87% vs SARK's -81.07%.

Which ETF is better, EEV or SARK?

On 3-year performance, SARK leads with -30.74% vs -34.25% for EEV. On fees, SARK is cheaper at 0.75% per year. On volatility, SARK has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEV or SARK?

Over the 3-year period, SARK has performed better with a -30.74% return vs -34.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEV or SARK?

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

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

EEV has the higher dividend yield at 7.46%, compared with 3.02% for SARK.

What is the main difference between EEV and SARK?

EEV is categorized as Leveraged Equities, while SARK is Inverse Equities. They also come from different issuers: ProShares and AXS. Their fees differ too: 0.95% for EEV and 0.75% for SARK.

Which has better risk-adjusted returns?

SARK currently has the higher Sharpe Ratio (-0.94 vs -1.49), 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.