EPV vs. CMGG

Last updated Jun 25, 2026

EPV (ProShares UltraShort FTSE Europe) and CMGG (Leverage Shares 2X Long CMG Daily ETF) are both Leveraged Equities funds. EPV is passively managed, while CMGG is actively managed. At a correlation of -0.36, they often move in opposite directions. EPV charges 0.95%/yr vs 0.75%/yr for CMGG.

Performance

EPV vs. CMGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE Europe (EPV) and Leverage Shares 2X Long CMG Daily ETF (CMGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPV achieves a -13.09% return, which is significantly higher than CMGG's -34.81% return.

EPV

• 1D: -0.27%
• 1M: -0.32%
• YTD: -13.09%
• 6M: -13.09%
• 1Y: -27.09%
• 3Y*: -25.26%
• 5Y*: -18.29%
• 10Y*: -23.47%

CMGG

• 1D: 4.34%
• 1M: -9.17%
• YTD: -34.81%
• 6M: -37.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EPV vs. CMGG - Yearly Performance Comparison

	2026 (YTD)	2025
EPV ProShares UltraShort FTSE Europe	-13.09%	-7.08%
CMGG Leverage Shares 2X Long CMG Daily ETF	-34.81%	36.20%

Correlation

The correlation between EPV and CMGG is -0.36, 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 (All Time) Calculated using the full available price history since Nov 17, 2025	-0.36

Return for Risk

EPV vs. CMGG — Risk / Return Rank

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

EPV

EPV Risk / Return Rank: 2
EPV Sharpe Ratio Rank: 3
EPV Sortino Ratio Rank: 3
EPV Omega Ratio Rank: 3
EPV Calmar Ratio Rank: 2
EPV Martin Ratio Rank: 2

CMGG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

EPV vs. CMGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE Europe (EPV) and Leverage Shares 2X Long CMG Daily ETF (CMGG). 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.

	EPV	CMGG	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	—	—
Sortino ratio: Return per unit of downside risk	-1.13	—	—
Omega ratio: Gain probability vs. loss probability	0.87	—	—
Calmar ratio: Return relative to maximum drawdown	-0.85	—	—
Martin ratio: Return relative to average drawdown	-1.40	—	—

Drawdowns

EPV vs. CMGG - Drawdown Comparison

The maximum EPV drawdown since its inception was -99.38%, which is greater than CMGG's maximum drawdown of -56.75%. Use the drawdown chart below to compare losses from any high point for EPV and CMGG.

Drawdown Indicators

	EPV	CMGG	Difference
Max Drawdown Largest peak-to-trough decline	-99.38%	-56.75%	-42.63%
Max Drawdown (1Y) Largest decline over 1 year	-31.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-65.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-79.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-93.67%	—	—
Current Drawdown Current decline from peak	-99.36%	-45.94%	-53.42%
Average Drawdown Average peak-to-trough decline	-88.40%	-23.52%	-64.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.36%	—	—

Volatility

Volatility by Period

	EPV	CMGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	27.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	31.97%	68.93%	-36.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.89%	68.93%	-33.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.02%	68.93%	-31.91%

EPV vs. CMGG - Expense Ratio Comparison

EPV has a 0.95% expense ratio, which is higher than CMGG's 0.75% expense ratio.

Dividends

EPV vs. CMGG - Dividend Comparison

EPV's dividend yield for the trailing twelve months is around 4.86%, while CMGG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CMGG Leverage Shares 2X Long CMG Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPV ProShares UltraShort FTSE Europe	4.86%	4.80%	4.83%	3.17%	0.33%	0.01%	0.09%	1.10%	0.19%

Frequently Asked Questions

Can I hold both EPV and CMGG in my portfolio?

EPV and CMGG have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EPV or CMGG?

On fees, CMGG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EPV or CMGG?

CMGG is cheaper with a 0.75% expense ratio, compared with 0.95% for EPV.

Which ETF pays a higher dividend yield, EPV or CMGG?

EPV has the higher dividend yield at 4.86%, compared with 0.00% for CMGG.

What is the main difference between EPV and CMGG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EPV and 0.75% for CMGG.