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EPV vs. IDEV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPV vs. IDEV

Last updated Jul 14, 2026
Documentation

EPV (ProShares UltraShort FTSE Europe) and IDEV (iShares Core MSCI International Developed Markets ETF) are both exchange-traded funds - EPV is a Leveraged Equities fund tracking the FTSE All Cap Developed Europe (-200%), while IDEV is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Investable Market Index. Both are passively managed. Over the past 5 years, EPV returned -18.56%/yr vs 8.82%/yr for IDEV. At a correlation of -0.95, they often move in opposite directions. EPV charges 0.95%/yr vs 0.05%/yr for IDEV.

Performance

EPV vs. IDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE Europe (EPV) and iShares Core MSCI International Developed Markets ETF (IDEV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EPV achieves a -13.88% return, which is significantly lower than IDEV's 9.24% return.

EPV

1D
1.98%
1M
1.66%
6M
-8.73%
YTD
-13.88%
1Y
-25.33%
3Y*
-22.94%
5Y*
-18.56%
10Y*
-22.51%

IDEV

1D
-0.96%
1M
-0.32%
6M
5.49%
YTD
9.24%
1Y
21.13%
3Y*
16.12%
5Y*
8.82%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EPV vs. IDEV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EPV
ProShares UltraShort FTSE Europe		-13.88%-45.21%2.02%-30.81%15.53%-31.62%-37.31%-36.11%32.22%-30.18%
IDEV
iShares Core MSCI International Developed Markets ETF		9.24%32.56%4.54%17.36%-14.99%13.00%8.32%23.12%-14.10%17.43%

Correlation

The correlation between EPV and IDEV is -0.95, 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

-0.95

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 Mar 23, 2017

-0.95

The correlation between EPV and IDEV has been stable across timeframes, ranging from -0.96 to -0.95 - a consistent structural relationship.

EPV vs. IDEV - Sectors Allocation Comparison

Sectors
EPV
IDEV

Financial Services

44.2%
24.0%

Basic Materials

-

8.3%

Communication Services

-

4.3%

Consumer Cyclical

-

7.7%

Consumer Defensive

-

5.8%

Energy

-

5.4%

Healthcare

-

8.5%

Industrials

-

18.8%

Real Estate

-

2.7%

Technology

-

11.1%

Utilities

-

3.4%

Financial Services

EPV
44.2%
IDEV
24.0%

Basic Materials

EPV

-

IDEV
8.3%

Communication Services

EPV

-

IDEV
4.3%

Consumer Cyclical

EPV

-

IDEV
7.7%

Consumer Defensive

EPV

-

IDEV
5.8%

Energy

EPV

-

IDEV
5.4%

Healthcare

EPV

-

IDEV
8.5%

Industrials

EPV

-

IDEV
18.8%

Real Estate

EPV

-

IDEV
2.7%

Technology

EPV

-

IDEV
11.1%

Utilities

EPV

-

IDEV
3.4%

Compare stocks, funds, or ETFs

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ProShares UltraShort FTSE Europe

iShares Core MSCI International Developed Markets ETF

Often compared with EPV:
EPV vs. UPVEPV vs. VOOEPV vs. USDUEPV vs. SCHYEPV vs. UUPEPV vs. TQQQEPV vs. AMDG
Often compared with IDEV:
IDEV vs. VYMIIDEV vs. VEAIDEV vs. IEFAIDEV vs. IXUSIDEV vs. SCHFIDEV vs. FDEVIDEV vs. VOO

Return for Risk

EPV vs. IDEV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EPV
EPV Risk / Return Rank: 33
Overall Rank
EPV Sharpe Ratio Rank: 33
Sharpe Ratio Rank
EPV Sortino Ratio Rank: 33
Sortino Ratio Rank
EPV Omega Ratio Rank: 33
Omega Ratio Rank
EPV Calmar Ratio Rank: 33
Calmar Ratio Rank
EPV Martin Ratio Rank: 33
Martin Ratio Rank
IDEV
IDEV Risk / Return Rank: 5151
Overall Rank
IDEV Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IDEV Sortino Ratio Rank: 5151
Sortino Ratio Rank
IDEV Omega Ratio Rank: 5050
Omega Ratio Rank
IDEV Calmar Ratio Rank: 4848
Calmar Ratio Rank
IDEV Martin Ratio Rank: 5454
Martin Ratio Rank
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. IDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE Europe (EPV) and iShares Core MSCI International Developed Markets ETF (IDEV). 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.

EPVIDEVDifference
Sharpe ratioReturn per unit of total volatility
-0.79
1.41

-2.20

Sortino ratioReturn per unit of downside risk
-1.01
2.02

-3.03

Omega ratioGain probability vs. loss probability

0.88

1.25

-0.37

Calmar ratioReturn relative to maximum drawdown

-0.76

1.90

-2.65

Martin ratioReturn relative to average drawdown

-1.24

7.38

-8.62

EPV vs. IDEV - Sharpe Ratio Comparison

The current EPV Sharpe Ratio is -0.79, which is lower than the IDEV Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of EPV and IDEV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EPV vs. IDEV - Drawdown Comparison

The maximum EPV drawdown since its inception was -99.40%, which is greater than IDEV's maximum drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for EPV and IDEV.

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Drawdown Indicators

EPVIDEVDifference

Max Drawdown

Largest peak-to-trough decline

-99.40%

-34.77%

-64.63%

Max Drawdown (1Y)

Largest decline over 1 year

-33.63%

-11.20%

-22.43%

Max Drawdown (3Y)

Largest decline over 3 years

-66.78%

-13.41%

-53.37%

Max Drawdown (5Y)

Largest decline over 5 years

-79.99%

-29.15%

-50.84%

Max Drawdown (10Y)

Largest decline over 10 years

-92.86%

—

—

Current Drawdown

Current decline from peak

-99.37%

-1.88%

-97.49%

Average Drawdown

Average peak-to-trough decline

-88.43%

-6.50%

-81.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

20.48%

2.87%

+17.61%

Volatility

EPV vs. IDEV - Volatility Comparison

ProShares UltraShort FTSE Europe (EPV) has a higher volatility of 10.05% compared to iShares Core MSCI International Developed Markets ETF (IDEV) at 4.48%. This indicates that EPV's price experiences larger fluctuations and is considered to be riskier than IDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EPVIDEVDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.05%

4.48%

+5.57%

Volatility (6M)

Calculated over the trailing 6-month period

27.90%

12.97%

+14.93%

Volatility (1Y)

Calculated over the trailing 1-year period

32.23%

15.12%

+17.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.93%

16.35%

+19.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.84%

17.26%

+19.58%

EPV vs. IDEV - Expense Ratio Comparison

EPV has a 0.95% expense ratio, which is higher than IDEV's 0.05% expense ratio.

Dividends

EPV vs. IDEV - Dividend Comparison

EPV's dividend yield for the trailing twelve months is around 4.64%, more than IDEV's 3.24% yield.

PositionTTM202520242023202220212020201920182017
EPV
ProShares UltraShort FTSE Europe		4.64%4.80%4.83%3.17%0.33%0.01%0.09%1.10%0.19%0.00%
IDEV
iShares Core MSCI International Developed Markets ETF		3.24%3.40%3.30%3.07%2.69%3.05%2.00%3.18%3.16%1.54%

Frequently Asked Questions

EPV and IDEV have a correlation of -0.95, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EPV has higher volatility (10.05%) compared to IDEV (4.48%). In terms of maximum drawdown, EPV dropped -99.40% vs IDEV's -34.77%.

On 5-year performance, IDEV leads with 8.82% vs -18.56% for EPV. On fees, IDEV is cheaper at 0.05% per year. On volatility, IDEV has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IDEV has performed better with a 8.82% return vs -18.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IDEV is cheaper with a 0.05% expense ratio, compared with 0.95% for EPV.

EPV has the higher dividend yield at 4.64%, compared with 3.24% for IDEV.

EPV is categorized as Leveraged Equities, while IDEV is Foreign Large Cap Equities. EPV tracks FTSE All Cap Developed Europe (-200%), while IDEV tracks MSCI World ex USA Investable Market Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for EPV and 0.05% for IDEV.

IDEV currently has the higher Sharpe Ratio (1.41 vs -0.79), 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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