EMTY vs. BRKD

Last updated Jun 4, 2026

EMTY (ProShares Decline of the Retail Store ETF) and BRKD (Direxion Daily BRKB Bear 1X Shares) are both Inverse Equities funds - EMTY tracks the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%) while BRKD tracks the Berkshire Hathaway Inc. Class B (-100%). Both are passively managed. Over the past year, EMTY returned 1.60% vs 7.98% for BRKD. At a 0.36 correlation, their price movements are largely independent. EMTY charges 0.66%/yr vs 1.00%/yr for BRKD.

Performance

EMTY vs. BRKD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Decline of the Retail Store ETF (EMTY) and Direxion Daily BRKB Bear 1X Shares (BRKD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMTY achieves a 1.09% return, which is significantly lower than BRKD's 5.90% return.

EMTY

• 1D: -0.32%
• 1M: 1.81%
• YTD: 1.09%
• 6M: 3.80%
• 1Y: 1.60%
• 3Y*: -4.69%
• 5Y*: -2.87%
• 10Y*: —

BRKD

• 1D: 0.00%
• 1M: 0.00%
• YTD: 5.90%
• 6M: 6.63%
• 1Y: 7.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMTY vs. BRKD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMTY ProShares Decline of the Retail Store ETF	1.09%	-1.76%	5.00%
BRKD Direxion Daily BRKB Bear 1X Shares	5.90%	-6.69%	2.19%

Correlation

The correlation between EMTY and BRKD is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	0.36

Return for Risk

EMTY vs. BRKD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMTY

EMTY Risk / Return Rank: 10
EMTY Sharpe Ratio Rank: 10
EMTY Sortino Ratio Rank: 9
EMTY Omega Ratio Rank: 10
EMTY Calmar Ratio Rank: 10
EMTY Martin Ratio Rank: 10

BRKD

BRKD Risk / Return Rank: 20
BRKD Sharpe Ratio Rank: 20
BRKD Sortino Ratio Rank: 20
BRKD Omega Ratio Rank: 20
BRKD Calmar Ratio Rank: 21
BRKD Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMTY vs. BRKD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) and Direxion Daily BRKB Bear 1X Shares (BRKD). 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.

	EMTY	BRKD	Difference
Sharpe ratio: Return per unit of total volatility	0.09	0.60	-0.51
Sortino ratio: Return per unit of downside risk	0.24	1.00	-0.76
Omega ratio: Gain probability vs. loss probability	1.03	1.12	-0.10
Calmar ratio: Return relative to maximum drawdown	0.11	0.86	-0.74
Martin ratio: Return relative to average drawdown	0.20	1.67	-1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMTY vs. BRKD - Sharpe Ratio Comparison

The current EMTY Sharpe Ratio is 0.09, which is lower than the BRKD Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of EMTY and BRKD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMTY	BRKD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	0.60	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.43	0.04	-0.47

Drawdowns

EMTY vs. BRKD - Drawdown Comparison

The maximum EMTY drawdown since its inception was -77.62%, which is greater than BRKD's maximum drawdown of -17.92%. Use the drawdown chart below to compare losses from any high point for EMTY and BRKD.

Drawdown Indicators

	EMTY	BRKD	Difference
Max Drawdown Largest peak-to-trough decline	-77.62%	-17.92%	-59.70%
Max Drawdown (1Y) Largest decline over 1 year	-14.00%	-9.34%	-4.66%
Max Drawdown (3Y) Largest decline over 3 years	-30.83%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.83%	—	—
Current Drawdown Current decline from peak	-74.77%	-3.69%	-71.08%
Average Drawdown Average peak-to-trough decline	-54.01%	-7.74%	-46.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.11%	4.78%	+3.33%

Volatility

EMTY vs. BRKD - Volatility Comparison

ProShares Decline of the Retail Store ETF (EMTY) has a higher volatility of 6.00% compared to Direxion Daily BRKB Bear 1X Shares (BRKD) at 0.00%. This indicates that EMTY's price experiences larger fluctuations and is considered to be riskier than BRKD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMTY	BRKD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	0.00%	+6.00%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	9.21%	+3.19%
Volatility (1Y) Calculated over the trailing 1-year period	17.71%	13.36%	+4.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.36%	17.26%	+5.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.67%	17.26%	+8.41%

EMTY vs. BRKD - Expense Ratio Comparison

EMTY has a 0.66% expense ratio, which is lower than BRKD's 1.00% expense ratio.

Dividends

EMTY vs. BRKD - Dividend Comparison

EMTY's dividend yield for the trailing twelve months is around 3.45%, more than BRKD's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRKD Direxion Daily BRKB Bear 1X Shares	2.82%	3.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMTY ProShares Decline of the Retail Store ETF	3.45%	3.83%	6.00%	4.41%	0.65%	0.00%	0.07%	0.82%	0.62%	0.03%

Frequently Asked Questions

Can I hold both EMTY and BRKD in my portfolio?

EMTY and BRKD have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMTY or BRKD?

EMTY has higher volatility (6.00%) compared to BRKD (0.00%). In terms of maximum drawdown, EMTY dropped -77.62% vs BRKD's -17.92%.

Which ETF is better, EMTY or BRKD?

On 1-year performance, BRKD leads with 7.98% vs 1.60% for EMTY. On fees, EMTY is cheaper at 0.66% per year. On volatility, BRKD has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMTY or BRKD?

Over the 1-year period, BRKD has performed better with a 7.98% return vs 1.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMTY or BRKD?

EMTY is cheaper with a 0.66% expense ratio, compared with 1.00% for BRKD.

Which ETF pays a higher dividend yield, EMTY or BRKD?

EMTY has the higher dividend yield at 3.45%, compared with 2.82% for BRKD.

What is the main difference between EMTY and BRKD?

EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while BRKD tracks Berkshire Hathaway Inc. Class B (-100%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.66% for EMTY and 1.00% for BRKD.

Which has better risk-adjusted returns?

BRKD currently has the higher Sharpe Ratio (0.60 vs 0.09), 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.