EMDV vs. UVXY
EMDV (ProShares MSCI Emerging Markets Dividend Growers ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - EMDV is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Dividend Masters Index, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, EMDV returned 1.91%/yr vs -71.00%/yr for UVXY. Their -0.48 correlation means they have often moved in opposite directions in the past. EMDV charges 0.60%/yr vs 0.95%/yr for UVXY.
Performance
EMDV vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, EMDV achieves a 3.01% return, which is significantly higher than UVXY's -35.49% return. Over the past 10 years, EMDV has outperformed UVXY with an annualized return of 1.91%, while UVXY has yielded a comparatively lower -71.00% annualized return.
EMDV
- 1D
- 0.81%
- 1M
- 5.84%
- 6M
- 0.85%
- YTD
- 3.01%
- 1Y
- 7.44%
- 3Y*
- 2.57%
- 5Y*
- -1.53%
- 10Y*
- 1.91%
- ALL TIME*
- 4.16%
UVXY
- 1D
- 1.09%
- 1M
- -6.53%
- 6M
- -36.87%
- YTD
- -35.49%
- 1Y
- -70.28%
- 3Y*
- -63.63%
- 5Y*
- -67.81%
- 10Y*
- -71.00%
- ALL TIME*
- -80.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.61K | $6.26K | $10.27K | |
| $189.58M | $189.56M | $234.35M |
EMDV vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF | 3.01% | 11.90% | 0.06% | -1.03% | -18.19% | 1.11% | -0.09% | 14.93% | -7.52% | 26.98% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.49% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between EMDV and UVXY is -0.53, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.53 |
Correlation (3Y) Balances recent behavior with more history. | -0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2016 | -0.48 |
The correlation between EMDV and UVXY shifts across timeframes, from -0.53 (1 year) to -0.40 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMDV vs. UVXY — Risk / Return Rank
EMDV
UVXY
EMDV vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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.
| EMDV | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.84 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | -0.99 | +2.02 |
| Martin ratioReturn relative to average drawdown | 2.45 | -1.47 | +3.92 |
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Drawdowns
EMDV vs. UVXY - Drawdown Comparison
The maximum EMDV drawdown since its inception was -39.20%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EMDV and UVXY.
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Drawdown Indicators
| EMDV | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.20% | -100.00% | +60.80% |
Max Drawdown (1Y)Largest decline over 1 year | -7.24% | -71.36% | +64.12% |
Max Drawdown (3Y)Largest decline over 3 years | -20.71% | -95.42% | +74.71% |
Max Drawdown (5Y)Largest decline over 5 years | -33.37% | -99.68% | +66.31% |
Max Drawdown (10Y)Largest decline over 10 years | -39.20% | -100.00% | +60.80% |
Current DrawdownCurrent decline from peak | -13.25% | -100.00% | +86.75% |
Average DrawdownAverage peak-to-trough decline | -13.59% | -98.76% | +85.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 47.86% | -44.82% |
Volatility
EMDV vs. UVXY - Volatility Comparison
The current volatility for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) is 3.12%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 21.98%. This indicates that EMDV experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDV | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.12% | 21.98% | -18.86% |
Volatility (6M)Calculated over the trailing 6-month period | 9.91% | 65.18% | -55.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.69% | 86.32% | -74.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.42% | 103.35% | -87.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.98% | 112.07% | -94.09% |
EMDV vs. UVXY - Expense Ratio Comparison
EMDV has a 0.60% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
EMDV vs. UVXY - Dividend Comparison
EMDV's dividend yield for the trailing twelve months is around 1.87%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF | 1.87% | 2.46% | 2.79% | 1.88% | 3.68% | 2.12% | 3.12% | 2.38% | 1.27% | 2.09% | 2.87% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMDV and UVXY have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (21.98%) compared to EMDV (3.12%). In terms of maximum drawdown, EMDV dropped -39.20% vs UVXY's -100.00%.
On 10-year performance, EMDV leads with 1.91% vs -71.00% for UVXY. On fees, EMDV is cheaper at 0.60% per year. On volatility, EMDV has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EMDV has performed better with a 1.91% return vs -71.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMDV is cheaper with a 0.60% expense ratio, compared with 0.95% for UVXY.
EMDV has the higher dividend yield at 1.87%, compared with 0.00% for UVXY.
EMDV is categorized as Emerging Markets Equities, while UVXY is Volatility. EMDV tracks MSCI Emerging Markets Dividend Masters Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 0.60% for EMDV and 0.95% for UVXY.
EMDV currently has the higher Sharpe Ratio (0.64 vs -0.82), 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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