EFU vs. EEV
EFU (ProShares UltraShort MSCI EAFE) and EEV (ProShares UltraShort MSCI Emerging Markets) are both Leveraged Equities funds from ProShares - EFU tracks the MSCI EAFE Index (-200%) while EEV tracks the MSCI Emerging Markets Index (-200%). Both are passively managed. Over the past 10 years, EFU returned -19.60%/yr vs -24.13%/yr for EEV. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
EFU vs. EEV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EFU achieves a -16.12% return, which is significantly higher than EEV's -42.06% return. Over the past 10 years, EFU has outperformed EEV with an annualized return of -19.60%, while EEV has yielded a comparatively lower -24.13% annualized return.
EFU
- 1D
- 1.27%
- 1M
- -7.02%
- YTD
- -16.12%
- 6M
- -19.44%
- 1Y
- -30.25%
- 3Y*
- -23.88%
- 5Y*
- -15.08%
- 10Y*
- -19.60%
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%
EFU vs. EEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | -16.12% | -41.07% | -1.04% | -25.36% | 24.26% | -24.58% | -35.54% | -32.71% | 32.32% | -36.87% |
EEV ProShares UltraShort MSCI Emerging Markets | -42.06% | -43.35% | -8.08% | -13.08% | 37.05% | -4.99% | -48.93% | -30.87% | 24.06% | -49.03% |
Correlation
The correlation between EFU and EEV is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2007 | 0.79 |
The correlation between EFU and EEV has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EFU vs. EEV — Risk / Return Rank
EFU
EEV
EFU vs. EEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI EAFE (EFU) and ProShares UltraShort MSCI Emerging Markets (EEV). 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.
| EFU | EEV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.98 | -1.49 | +0.51 |
Sortino ratioReturn per unit of downside risk | -1.36 | -2.69 | +1.33 |
Omega ratioGain probability vs. loss probability | 0.84 | 0.69 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | -0.89 | -1.01 | +0.12 |
Martin ratioReturn relative to average drawdown | -1.50 | -1.85 | +0.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EFU | EEV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.98 | -1.49 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | -0.41 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.57 | -0.59 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.44 | -0.48 | +0.04 |
Drawdowns
EFU vs. EEV - Drawdown Comparison
The maximum EFU drawdown since its inception was -99.36%, roughly equal to the maximum EEV drawdown of -99.87%. Use the drawdown chart below to compare losses from any high point for EFU and EEV.
Loading charts...
Drawdown Indicators
| EFU | EEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.36% | -99.87% | +0.51% |
Max Drawdown (1Y)Largest decline over 1 year | -34.19% | -59.83% | +25.64% |
Max Drawdown (3Y)Largest decline over 3 years | -64.29% | -76.45% | +12.16% |
Max Drawdown (5Y)Largest decline over 5 years | -75.42% | -80.25% | +4.83% |
Max Drawdown (10Y)Largest decline over 10 years | -90.41% | -94.21% | +3.80% |
Current DrawdownCurrent decline from peak | -99.35% | -99.87% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -87.13% | -93.00% | +5.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.14% | 34.15% | -14.01% |
Volatility
EFU vs. EEV - Volatility Comparison
The current volatility for ProShares UltraShort MSCI EAFE (EFU) is 10.10%, while ProShares UltraShort MSCI Emerging Markets (EEV) has a volatility of 17.59%. This indicates that EFU experiences smaller price fluctuations and is considered to be less risky than EEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EFU | EEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.10% | 17.59% | -7.49% |
Volatility (6M)Calculated over the trailing 6-month period | 26.06% | 35.59% | -9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.91% | 40.37% | -9.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.34% | 38.25% | -4.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.20% | 41.13% | -6.93% |
EFU vs. EEV - Expense Ratio Comparison
Both EFU and EEV have an expense ratio of 0.95%.
Dividends
EFU vs. EEV - Dividend Comparison
EFU's dividend yield for the trailing twelve months is around 5.38%, less than EEV's 7.46% 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% |
EFU ProShares UltraShort MSCI EAFE | 5.38% | 5.57% | 3.87% | 6.41% | 1.47% | 0.00% | 0.06% | 0.95% | 0.17% |
Frequently Asked Questions
EFU and EEV have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEV has higher volatility (17.59%) compared to EFU (10.10%). In terms of maximum drawdown, EFU dropped -99.36% vs EEV's -99.87%.
On 10-year performance, EFU leads with -19.60% vs -24.13% for EEV. Both ETFs have the same 0.95% expense ratio. On volatility, EFU has been the lower-risk option at 10.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EFU has performed better with a -19.60% return vs -24.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFU and EEV have the same expense ratio: 0.95% per year.
EEV has the higher dividend yield at 7.46%, compared with 5.38% for EFU.
EFU tracks MSCI EAFE Index (-200%), while EEV tracks MSCI Emerging Markets Index (-200%).
EFU currently has the higher Sharpe Ratio (-0.98 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.
Find the right allocation for EFU and EEV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer