EPV vs. IEUR
EPV (ProShares UltraShort FTSE Europe) and IEUR (iShares Core MSCI Europe ETF) are both exchange-traded funds - EPV is a Leveraged Equities fund tracking the FTSE All Cap Developed Europe (-200%), while IEUR is a Europe Equities fund tracking the MSCI Europe Investable Market Index. Both are passively managed. Over the past 10 years, EPV returned -22.82%/yr vs 9.93%/yr for IEUR. Their -0.98 correlation means they have often moved in opposite directions in the past. EPV charges 0.95%/yr vs 0.09%/yr for IEUR.
Performance
EPV vs. IEUR - Performance Comparison
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Returns By Period
In the year-to-date period, EPV achieves a -19.77% return, which is significantly lower than IEUR's 10.73% return. Over the past 10 years, EPV has underperformed IEUR with an annualized return of -22.82%, while IEUR has yielded a comparatively higher 9.93% annualized return.
EPV
- 1D
- -1.09%
- 1M
- -3.19%
- 6M
- -10.92%
- YTD
- -19.77%
- 1Y
- -35.04%
- 3Y*
- -26.13%
- 5Y*
- -19.02%
- 10Y*
- -22.82%
- ALL TIME*
- -25.54%
IEUR
- 1D
- 0.42%
- 1M
- 1.50%
- 6M
- 5.01%
- YTD
- 10.73%
- 1Y
- 23.97%
- 3Y*
- 17.31%
- 5Y*
- 8.96%
- 10Y*
- 9.93%
- ALL TIME*
- 6.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $306.03K | $269.56K | $428.32K | |
| $74.86M | $57.66M | $73.75M |
EPV vs. IEUR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPV ProShares UltraShort FTSE Europe | -19.77% | -45.21% | 2.02% | -30.81% | 15.53% | -31.62% | -37.31% | -36.11% | 32.22% | -39.79% |
IEUR iShares Core MSCI Europe ETF | 10.73% | 35.67% | 1.40% | 19.71% | -15.90% | 16.71% | 5.31% | 24.95% | -14.86% | 26.70% |
Correlation
The correlation between EPV and IEUR is -0.99, 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. | -0.99 |
Correlation (3Y) Balances recent behavior with more history. | -0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014 | -0.98 |
The correlation between EPV and IEUR has been stable across timeframes, ranging from -0.99 to -0.98 - a consistent structural relationship.
EPV vs. IEUR - Sectors Allocation Comparison
Sectors
EPV
IEUR
Financial Services
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Healthcare
-
Industrials
-
Real Estate
-
Technology
-
Utilities
-
Financial Services
EPV
IEUR
Basic Materials
EPV
-
IEUR
Communication Services
EPV
-
IEUR
Consumer Cyclical
EPV
-
IEUR
Consumer Defensive
EPV
-
IEUR
Energy
EPV
-
IEUR
Healthcare
EPV
-
IEUR
Industrials
EPV
-
IEUR
Real Estate
EPV
-
IEUR
Technology
EPV
-
IEUR
Utilities
EPV
-
IEUR
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Return for Risk
EPV vs. IEUR — Risk / Return Rank
EPV
IEUR
EPV vs. IEUR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE Europe (EPV) and iShares Core MSCI Europe ETF (IEUR). 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 | IEUR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.77 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.27 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -1.05 | 2.00 | -3.05 |
| Martin ratioReturn relative to average drawdown | -1.72 | 7.69 | -9.41 |
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Drawdowns
EPV vs. IEUR - Drawdown Comparison
The maximum EPV drawdown since its inception was -99.41%, which is greater than IEUR's maximum drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for EPV and IEUR.
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Drawdown Indicators
| EPV | IEUR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.41% | -36.96% | -62.45% |
Max Drawdown (1Y)Largest decline over 1 year | -33.55% | -12.04% | -21.51% |
Max Drawdown (3Y)Largest decline over 3 years | -67.49% | -14.25% | -53.24% |
Max Drawdown (5Y)Largest decline over 5 years | -80.42% | -32.75% | -47.67% |
Max Drawdown (10Y)Largest decline over 10 years | -93.02% | -36.96% | -56.06% |
Current DrawdownCurrent decline from peak | -99.41% | -0.08% | -99.33% |
Average DrawdownAverage peak-to-trough decline | -88.47% | -8.13% | -80.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.92% | 3.12% | +18.80% |
Volatility
EPV vs. IEUR - Volatility Comparison
ProShares UltraShort FTSE Europe (EPV) has a higher volatility of 9.50% compared to iShares Core MSCI Europe ETF (IEUR) at 4.09%. This indicates that EPV's price experiences larger fluctuations and is considered to be riskier than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EPV | IEUR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.50% | 4.09% | +5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 28.44% | 13.68% | +14.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.47% | 15.78% | +16.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.99% | 17.81% | +18.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.90% | 18.23% | +18.67% |
EPV vs. IEUR - Expense Ratio Comparison
EPV has a 0.95% expense ratio, which is higher than IEUR's 0.09% expense ratio.
Dividends
EPV vs. IEUR - Dividend Comparison
EPV's dividend yield for the trailing twelve months is around 4.98%, more than IEUR's 3.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPV ProShares UltraShort FTSE Europe | 4.98% | 4.80% | 4.83% | 3.17% | 0.33% | 0.01% | 0.09% | 1.10% | 0.19% | 0.00% | 0.00% | 0.00% |
IEUR iShares Core MSCI Europe ETF | 3.11% | 2.97% | 3.54% | 3.17% | 3.05% | 2.88% | 2.13% | 3.26% | 3.76% | 2.64% | 3.19% | 2.79% |
Frequently Asked Questions
EPV and IEUR have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPV has higher volatility (9.50%) compared to IEUR (4.09%). In terms of maximum drawdown, EPV dropped -99.41% vs IEUR's -36.96%.
On 10-year performance, IEUR leads with 9.93% vs -22.82% for EPV. On fees, IEUR is cheaper at 0.09% per year. On volatility, IEUR has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IEUR has performed better with a 9.93% return vs -22.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEUR is cheaper with a 0.09% expense ratio, compared with 0.95% for EPV.
EPV has the higher dividend yield at 4.98%, compared with 3.11% for IEUR.
EPV is categorized as Leveraged Equities, while IEUR is Europe Equities. EPV tracks FTSE All Cap Developed Europe (-200%), while IEUR tracks MSCI Europe Investable Market Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for EPV and 0.09% for IEUR.
IEUR currently has the higher Sharpe Ratio (1.53 vs -1.08), 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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