EPV vs. KORU

Last updated Jun 24, 2026

EPV (ProShares UltraShort FTSE Europe) and KORU (Direxion Daily South Korea Bull 3X Shares) are both Leveraged Equities funds - EPV tracks the FTSE All Cap Developed Europe (-200%) while KORU tracks the MSCI Korea 25-50 Index. Both are passively managed. Over the past 10 years, EPV returned -23.45%/yr vs 14.49%/yr for KORU. At a correlation of -0.62, they often move in opposite directions. EPV charges 0.95%/yr vs 1.29%/yr for KORU.

Performance

EPV vs. KORU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE Europe (EPV) and Direxion Daily South Korea Bull 3X Shares (KORU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPV achieves a -12.85% return, which is significantly lower than KORU's 285.56% return. Over the past 10 years, EPV has underperformed KORU with an annualized return of -23.45%, while KORU has yielded a comparatively higher 14.49% annualized return.

EPV

• 1D: 2.14%
• 1M: -0.04%
• YTD: -12.85%
• 6M: -12.79%
• 1Y: -28.90%
• 3Y*: -25.19%
• 5Y*: -18.33%
• 10Y*: -23.45%

KORU

• 1D: -35.70%
• 1M: -10.30%
• YTD: 285.56%
• 6M: 341.44%
• 1Y: 858.44%
• 3Y*: 100.70%
• 5Y*: 11.21%
• 10Y*: 14.49%

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

EPV vs. KORU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPV ProShares UltraShort FTSE Europe	-12.85%	-45.21%	2.02%	-30.81%	15.53%	-31.62%	-37.31%	-36.11%	32.22%	-39.79%
KORU Direxion Daily South Korea Bull 3X Shares	285.56%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-59.89%	167.08%

Correlation

The correlation between EPV and KORU is -0.54, 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	-0.54
Correlation (3Y) Calculated over the trailing 3-year period	-0.57
Correlation (5Y) Calculated over the trailing 5-year period	-0.61
Correlation (10Y) Calculated over the trailing 10-year period	-0.63
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013	-0.62

The correlation between EPV and KORU has been stable across timeframes, ranging from -0.63 to -0.54 - a consistent structural relationship.

EPV vs. KORU - Sectors Allocation Comparison

Sectors	EPV	KORU
Financial Services	35.8%	7.4%
Basic Materials	-	1.4%
Communication Services	-	2.1%
Consumer Cyclical	-	5.5%
Consumer Defensive	-	1.3%
Energy	-	0.9%
Healthcare	-	2.5%
Industrials	-	15.2%
Real Estate	-	-
Technology	-	63.4%
Utilities	-	0.3%

Return for Risk

EPV vs. KORU — 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: 2
EPV Sortino Ratio Rank: 2
EPV Omega Ratio Rank: 2
EPV Calmar Ratio Rank: 1
EPV Martin Ratio Rank: 1

KORU

KORU Risk / Return Rank: 93
KORU Sharpe Ratio Rank: 99
KORU Sortino Ratio Rank: 84
KORU Omega Ratio Rank: 88
KORU Calmar Ratio Rank: 98
KORU Martin Ratio Rank: 97

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. KORU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE Europe (EPV) and Direxion Daily South Korea Bull 3X Shares (KORU). 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	KORU	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	6.02	-6.92
Sortino ratio: Return per unit of downside risk	-1.22	3.56	-4.78
Omega ratio: Gain probability vs. loss probability	0.86	1.53	-0.67
Calmar ratio: Return relative to maximum drawdown	-0.91	14.12	-15.03
Martin ratio: Return relative to average drawdown	-1.50	41.38	-42.89

EPV vs. KORU - Sharpe Ratio Comparison

The current EPV Sharpe Ratio is -0.91, which is lower than the KORU Sharpe Ratio of 6.02. The chart below compares the historical Sharpe Ratios of EPV and KORU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EPV vs. KORU - Drawdown Comparison

The maximum EPV drawdown since its inception was -99.38%, roughly equal to the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for EPV and KORU.

Drawdown Indicators

	EPV	KORU	Difference
Max Drawdown Largest peak-to-trough decline	-99.38%	-95.79%	-3.59%
Max Drawdown (1Y) Largest decline over 1 year	-31.94%	-61.39%	+29.45%
Max Drawdown (3Y) Largest decline over 3 years	-65.94%	-73.34%	+7.40%
Max Drawdown (5Y) Largest decline over 5 years	-79.48%	-93.34%	+13.86%
Max Drawdown (10Y) Largest decline over 10 years	-93.67%	-95.79%	+2.12%
Current Drawdown Current decline from peak	-99.36%	-44.66%	-54.70%
Average Drawdown Average peak-to-trough decline	-88.40%	-57.41%	-30.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	20.91%	-1.61%

Volatility

EPV vs. KORU - Volatility Comparison

The current volatility for ProShares UltraShort FTSE Europe (EPV) is 10.38%, while Direxion Daily South Korea Bull 3X Shares (KORU) has a volatility of 92.27%. This indicates that EPV experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPV	KORU	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.38%	92.27%	-81.89%
Volatility (6M) Calculated over the trailing 6-month period	27.32%	138.63%	-111.31%
Volatility (1Y) Calculated over the trailing 1-year period	32.00%	144.16%	-112.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.90%	91.40%	-55.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.02%	83.03%	-46.01%

EPV vs. KORU - Expense Ratio Comparison

EPV has a 0.95% expense ratio, which is lower than KORU's 1.29% expense ratio.

Dividends

EPV vs. KORU - Dividend Comparison

EPV's dividend yield for the trailing twelve months is around 4.85%, more than KORU's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPV ProShares UltraShort FTSE Europe	4.85%	4.80%	4.83%	3.17%	0.33%	0.01%	0.09%	1.10%	0.19%	0.00%
KORU Direxion Daily South Korea Bull 3X Shares	0.24%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%

Frequently Asked Questions

Can I hold both EPV and KORU in my portfolio?

EPV and KORU have a correlation of -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPV or KORU?

KORU has higher volatility (92.27%) compared to EPV (10.38%). In terms of maximum drawdown, EPV dropped -99.38% vs KORU's -95.79%.

Which ETF is better, EPV or KORU?

On 10-year performance, KORU leads with 14.49% vs -23.45% for EPV. On fees, EPV is cheaper at 0.95% per year. On volatility, EPV has been the lower-risk option at 10.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPV or KORU?

Over the 10-year period, KORU has performed better with a 14.49% return vs -23.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPV or KORU?

EPV is cheaper with a 0.95% expense ratio, compared with 1.29% for KORU.

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

EPV has the higher dividend yield at 4.85%, compared with 0.24% for KORU.

What is the main difference between EPV and KORU?

EPV tracks FTSE All Cap Developed Europe (-200%), while KORU tracks MSCI Korea 25-50 Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for EPV and 1.29% for KORU.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (6.02 vs -0.91), 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.