EFZ vs. NUDM
EFZ (ProShares Short MSCI EAFE) and NUDM (Nuveen ESG International Developed Markets Equity ETF) are both exchange-traded funds - EFZ is a Inverse Equities fund tracking the MSCI EAFE Index (-100%), while NUDM is a Foreign Large Cap Equities fund tracking the MSCI TIAA ESG International DM. Both are passively managed. Over the past 5 years, EFZ returned -6.05%/yr vs 9.16%/yr for NUDM. At a correlation of -0.93, they often move in opposite directions. EFZ charges 0.95%/yr vs 0.30%/yr for NUDM.
Performance
EFZ vs. NUDM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EFZ achieves a -7.84% return, which is significantly lower than NUDM's 10.55% return.
EFZ
- 1D
- 0.94%
- 1M
- 1.09%
- 6M
- -4.91%
- YTD
- -7.84%
- 1Y
- -14.64%
- 3Y*
- -9.25%
- 5Y*
- -6.05%
- 10Y*
- -8.32%
NUDM
- 1D
- -0.55%
- 1M
- 0.58%
- 6M
- 7.43%
- YTD
- 10.55%
- 1Y
- 23.41%
- 3Y*
- 16.05%
- 5Y*
- 9.16%
- 10Y*
- —
EFZ vs. NUDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | -7.84% | -20.92% | 2.90% | -10.38% | 13.15% | -12.75% | -16.02% | -16.56% | 16.26% | -8.35% |
NUDM Nuveen ESG International Developed Markets Equity ETF | 10.55% | 29.60% | 5.47% | 17.70% | -15.16% | 10.62% | 10.06% | 24.58% | -14.82% | 8.40% |
Correlation
The correlation between EFZ and NUDM is -0.93, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017 | -0.93 |
The correlation between EFZ and NUDM has been stable across timeframes, ranging from -0.96 to -0.93 - 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
EFZ vs. NUDM — Risk / Return Rank
EFZ
NUDM
EFZ vs. NUDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short MSCI EAFE (EFZ) and Nuveen ESG International Developed Markets Equity ETF (NUDM). 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.
| EFZ | NUDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.26 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 1.88 | -2.72 |
| Martin ratioReturn relative to average drawdown | -1.35 | 6.99 | -8.35 |
Loading charts...
Drawdowns
EFZ vs. NUDM - Drawdown Comparison
The maximum EFZ drawdown since its inception was -88.15%, which is greater than NUDM's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for EFZ and NUDM.
Loading charts...
Drawdown Indicators
| EFZ | NUDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.15% | -32.01% | -56.14% |
Max Drawdown (1Y)Largest decline over 1 year | -17.60% | -12.50% | -5.10% |
Max Drawdown (3Y)Largest decline over 3 years | -35.82% | -13.47% | -22.35% |
Max Drawdown (5Y)Largest decline over 5 years | -44.12% | -30.09% | -14.03% |
Max Drawdown (10Y)Largest decline over 10 years | -61.58% | — | — |
Current DrawdownCurrent decline from peak | -87.93% | -1.21% | -86.72% |
Average DrawdownAverage peak-to-trough decline | -67.20% | -6.78% | -60.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.86% | 3.35% | +7.51% |
Volatility
EFZ vs. NUDM - Volatility Comparison
ProShares Short MSCI EAFE (EFZ) has a higher volatility of 4.17% compared to Nuveen ESG International Developed Markets Equity ETF (NUDM) at 3.81%. This indicates that EFZ's price experiences larger fluctuations and is considered to be riskier than NUDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EFZ | NUDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 3.81% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 14.29% | 13.87% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.87% | 16.22% | +0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.84% | 16.74% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 17.58% | -0.48% |
EFZ vs. NUDM - Expense Ratio Comparison
EFZ has a 0.95% expense ratio, which is higher than NUDM's 0.30% expense ratio.
Dividends
EFZ vs. NUDM - Dividend Comparison
EFZ's dividend yield for the trailing twelve months is around 3.97%, less than NUDM's 6.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | 3.97% | 4.55% | 5.29% | 4.66% | 0.57% | 0.00% | 0.04% | 1.56% | 0.34% | 0.00% |
NUDM Nuveen ESG International Developed Markets Equity ETF | 6.75% | 7.46% | 3.33% | 3.14% | 1.98% | 4.31% | 1.47% | 3.42% | 2.45% | 0.47% |
Frequently Asked Questions
EFZ and NUDM have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFZ has higher volatility (4.17%) compared to NUDM (3.81%). In terms of maximum drawdown, EFZ dropped -88.15% vs NUDM's -32.01%.
On 5-year performance, NUDM leads with 9.16% vs -6.05% for EFZ. On fees, NUDM is cheaper at 0.30% per year. On volatility, NUDM has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NUDM has performed better with a 9.16% return vs -6.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NUDM is cheaper with a 0.30% expense ratio, compared with 0.95% for EFZ.
NUDM has the higher dividend yield at 6.75%, compared with 3.97% for EFZ.
EFZ is categorized as Inverse Equities, while NUDM is Foreign Large Cap Equities. EFZ tracks MSCI EAFE Index (-100%), while NUDM tracks MSCI TIAA ESG International DM. They also come from different issuers: ProShares and Nuveen. Their fees differ too: 0.95% for EFZ and 0.30% for NUDM.
NUDM currently has the higher Sharpe Ratio (1.45 vs -0.87), 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 EFZ and NUDM
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