EFZ vs. USDU
EFZ (ProShares Short MSCI EAFE) and USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) are both exchange-traded funds - EFZ is a Inverse Equities fund tracking the MSCI EAFE Index (-100%), while USDU is a Currency fund actively managed by WisdomTree. EFZ is passively managed, while USDU is actively managed. Over the past 10 years, EFZ returned -8.83%/yr vs 2.85%/yr for USDU. At a 0.41 correlation, their price movements are largely independent. EFZ charges 0.95%/yr vs 0.51%/yr for USDU.
Performance
EFZ vs. USDU - Performance Comparison
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Returns By Period
In the year-to-date period, EFZ achieves a -6.98% return, which is significantly lower than USDU's 3.64% return. Over the past 10 years, EFZ has underperformed USDU with an annualized return of -8.83%, while USDU has yielded a comparatively higher 2.85% annualized return.
EFZ
- 1D
- 1.95%
- 1M
- -0.04%
- YTD
- -6.98%
- 6M
- -6.74%
- 1Y
- -15.21%
- 3Y*
- -10.01%
- 5Y*
- -5.55%
- 10Y*
- -8.83%
USDU
- 1D
- 0.26%
- 1M
- 2.02%
- YTD
- 3.64%
- 6M
- 3.96%
- 1Y
- 6.23%
- 3Y*
- 5.32%
- 5Y*
- 5.59%
- 10Y*
- 2.85%
EFZ vs. USDU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | -6.98% | -20.92% | 2.90% | -10.38% | 13.15% | -12.75% | -16.02% | -16.56% | 16.26% | -20.18% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.64% | -3.14% | 14.56% | 3.10% | 7.67% | 4.07% | -5.43% | 1.54% | 5.40% | -7.44% |
Correlation
The correlation between EFZ and USDU is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | 0.41 |
The correlation between EFZ and USDU shifts across timeframes, from 0.41 (all time) to 0.58 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EFZ vs. USDU — Risk / Return Rank
EFZ
USDU
EFZ vs. USDU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short MSCI EAFE (EFZ) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU). 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 | USDU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.20 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 1.72 | -2.61 |
| Martin ratioReturn relative to average drawdown | -1.51 | 4.76 | -6.27 |
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Drawdowns
EFZ vs. USDU - Drawdown Comparison
The maximum EFZ drawdown since its inception was -88.08%, which is greater than USDU's maximum drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for EFZ and USDU.
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Drawdown Indicators
| EFZ | USDU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.08% | -14.54% | -73.54% |
Max Drawdown (1Y)Largest decline over 1 year | -17.09% | -3.64% | -13.45% |
Max Drawdown (3Y)Largest decline over 3 years | -35.42% | -7.73% | -27.69% |
Max Drawdown (5Y)Largest decline over 5 years | -43.77% | -9.28% | -34.49% |
Max Drawdown (10Y)Largest decline over 10 years | -61.88% | -14.54% | -47.34% |
Current DrawdownCurrent decline from peak | -87.82% | -0.58% | -87.24% |
Average DrawdownAverage peak-to-trough decline | -67.13% | -4.71% | -62.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.10% | 1.32% | +8.78% |
Volatility
EFZ vs. USDU - Volatility Comparison
ProShares Short MSCI EAFE (EFZ) has a higher volatility of 5.39% compared to WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) at 1.41%. This indicates that EFZ's price experiences larger fluctuations and is considered to be riskier than USDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFZ | USDU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 1.41% | +3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 14.12% | 4.36% | +9.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.82% | 5.67% | +11.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.84% | 6.61% | +10.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.16% | 7.43% | +9.73% |
EFZ vs. USDU - Expense Ratio Comparison
EFZ has a 0.95% expense ratio, which is higher than USDU's 0.51% expense ratio.
Dividends
EFZ vs. USDU - Dividend Comparison
EFZ's dividend yield for the trailing twelve months is around 4.04%, more than USDU's 3.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | 4.04% | 4.55% | 5.29% | 4.66% | 0.57% | 0.00% | 0.04% | 1.56% | 0.34% | 0.00% | 0.00% | 0.00% |
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund | 3.70% | 3.83% | 3.97% | 6.99% | 7.83% | 0.00% | 0.69% | 3.06% | 0.88% | 0.00% | 0.00% | 6.48% |
Frequently Asked Questions
EFZ and USDU have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFZ has higher volatility (5.39%) compared to USDU (1.41%). In terms of maximum drawdown, EFZ dropped -88.08% vs USDU's -14.54%.
On 10-year performance, USDU leads with 2.85% vs -8.83% for EFZ. On fees, USDU is cheaper at 0.51% per year. On volatility, USDU has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USDU has performed better with a 2.85% return vs -8.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USDU is cheaper with a 0.51% expense ratio, compared with 0.95% for EFZ.
EFZ has the higher dividend yield at 4.04%, compared with 3.70% for USDU.
EFZ is categorized as Inverse Equities, while USDU is Currency. They also come from different issuers: ProShares and WisdomTree. Their fees differ too: 0.95% for EFZ and 0.51% for USDU.
USDU currently has the higher Sharpe Ratio (1.10 vs -0.91), 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.
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