EFO vs. GEMG
EFO (ProShares Ultra MSCI EAFE) and GEMG (Leverage Shares 2X Long GEMI Daily ETF) are both Leveraged Equities funds. EFO is passively managed, while GEMG is actively managed. At a 0.28 correlation, their price movements are largely independent. EFO charges 0.95%/yr vs 0.75%/yr for GEMG.
Performance
EFO vs. GEMG - Performance Comparison
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Returns By Period
In the year-to-date period, EFO achieves a 12.32% return, which is significantly higher than GEMG's -89.02% return.
EFO
- 1D
- -3.85%
- 1M
- -0.37%
- YTD
- 12.32%
- 6M
- 11.55%
- 1Y
- 36.54%
- 3Y*
- 23.94%
- 5Y*
- 7.59%
- 10Y*
- 11.79%
GEMG
- 1D
- -6.14%
- 1M
- -33.52%
- YTD
- -89.02%
- 6M
- -91.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EFO vs. GEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EFO ProShares Ultra MSCI EAFE | 12.32% | 8.35% |
GEMG Leverage Shares 2X Long GEMI Daily ETF | -89.02% | -71.91% |
Correlation
The correlation between EFO and GEMG is 0.28, 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 Nov 5, 2025 | 0.28 |
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Return for Risk
EFO vs. GEMG — Risk / Return Rank
EFO
GEMG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EFO vs. GEMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI EAFE (EFO) and Leverage Shares 2X Long GEMI Daily ETF (GEMG). 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.
| EFO | GEMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.21 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | — | — |
| Martin ratioReturn relative to average drawdown | 5.64 | — | — |
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Drawdowns
EFO vs. GEMG - Drawdown Comparison
The maximum EFO drawdown since its inception was -63.52%, smaller than the maximum GEMG drawdown of -97.26%. Use the drawdown chart below to compare losses from any high point for EFO and GEMG.
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Drawdown Indicators
| EFO | GEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.52% | -97.26% | +33.74% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -26.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -53.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -63.52% | — | — |
Current DrawdownCurrent decline from peak | -6.00% | -97.10% | +91.10% |
Average DrawdownAverage peak-to-trough decline | -18.62% | -81.17% | +62.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.49% | — | — |
Volatility
EFO vs. GEMG - Volatility Comparison
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Volatility by Period
| EFO | GEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.89% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 26.85% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 31.71% | 219.33% | -187.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.20% | 219.33% | -186.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.65% | 219.33% | -185.68% |
EFO vs. GEMG - Expense Ratio Comparison
EFO has a 0.95% expense ratio, which is higher than GEMG's 0.75% expense ratio.
Dividends
EFO vs. GEMG - Dividend Comparison
EFO's dividend yield for the trailing twelve months is around 1.54%, while GEMG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EFO ProShares Ultra MSCI EAFE | 1.54% | 1.65% | 2.24% | 1.93% | 0.00% | 0.00% | 0.00% | 0.37% | 0.11% |
GEMG Leverage Shares 2X Long GEMI Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EFO and GEMG have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GEMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GEMG is cheaper with a 0.75% expense ratio, compared with 0.95% for EFO.
EFO has the higher dividend yield at 1.54%, compared with 0.00% for GEMG.
They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EFO and 0.75% for GEMG.
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