EPV vs. USDU

Last updated Jun 3, 2026

EPV (ProShares UltraShort FTSE Europe) and USDU (WisdomTree Bloomberg U.S. Dollar Bullish Fund) are both exchange-traded funds - EPV is a Leveraged Equities fund tracking the FTSE All Cap Developed Europe (-200%), while USDU is a Currency fund actively managed by WisdomTree. EPV is passively managed, while USDU is actively managed. Over the past 10 years, EPV returned -22.41%/yr vs 2.69%/yr for USDU. At a 0.43 correlation, their price movements are largely independent. EPV charges 0.95%/yr vs 0.51%/yr for USDU.

Performance

EPV vs. USDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE Europe (EPV) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPV achieves a -13.67% return, which is significantly lower than USDU's 1.67% return. Over the past 10 years, EPV has underperformed USDU with an annualized return of -22.41%, while USDU has yielded a comparatively higher 2.69% annualized return.

EPV

• 1D: -0.65%
• 1M: -4.35%
• YTD: -13.67%
• 6M: -19.13%
• 1Y: -27.29%
• 3Y*: -25.13%
• 5Y*: -18.48%
• 10Y*: -22.41%

USDU

• 1D: -0.04%
• 1M: 1.27%
• YTD: 1.67%
• 6M: 0.85%
• 1Y: 4.56%
• 3Y*: 4.45%
• 5Y*: 5.37%
• 10Y*: 2.69%

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

EPV vs. USDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPV ProShares UltraShort FTSE Europe	-13.67%	-45.21%	2.02%	-30.81%	15.53%	-31.62%	-37.31%	-36.11%	32.22%	-39.79%
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund	1.67%	-3.14%	14.56%	3.10%	7.67%	4.07%	-5.43%	1.54%	5.40%	-7.44%

Correlation

The correlation between EPV and USDU is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Dec 19, 2013	0.43

The correlation between EPV and USDU shifts across timeframes, from 0.43 (all time) to 0.59 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EPV vs. USDU — 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

USDU

USDU Risk / Return Rank: 22
USDU Sharpe Ratio Rank: 23
USDU Sortino Ratio Rank: 23
USDU Omega Ratio Rank: 22
USDU Calmar Ratio Rank: 22
USDU Martin Ratio Rank: 22

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. USDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE Europe (EPV) and WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU). 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.

	EPV	USDU	Difference
Sharpe ratio Return per unit of total volatility	-0.88	0.81	-1.69
Sortino ratio Return per unit of downside risk	-1.18	1.21	-2.40
Omega ratio Gain probability vs. loss probability	0.87	1.15	-0.28
Calmar ratio Return relative to maximum drawdown	-0.90	1.04	-1.95
Martin ratio Return relative to average drawdown	-1.55	2.84	-4.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPV vs. USDU - Sharpe Ratio Comparison

The current EPV Sharpe Ratio is -0.88, which is lower than the USDU Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of EPV and USDU, 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

	EPV	USDU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.88	0.81	-1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.52	0.81	-1.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.59	0.36	-0.96
Sharpe Ratio (All Time) Calculated using the full available price history	-0.62	0.43	-1.05

Drawdowns

EPV vs. USDU - Drawdown Comparison

The maximum EPV drawdown since its inception was -99.38%, which is greater than USDU's maximum drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for EPV and USDU.

Drawdown Indicators

	EPV	USDU	Difference
Max Drawdown Largest peak-to-trough decline	-99.38%	-14.54%	-84.84%
Max Drawdown (1Y) Largest decline over 1 year	-31.91%	-3.64%	-28.27%
Max Drawdown (3Y) Largest decline over 3 years	-65.62%	-7.73%	-57.89%
Max Drawdown (5Y) Largest decline over 5 years	-79.29%	-9.28%	-70.01%
Max Drawdown (10Y) Largest decline over 10 years	-93.61%	-14.54%	-79.07%
Current Drawdown Current decline from peak	-99.37%	-2.47%	-96.90%
Average Drawdown Average peak-to-trough decline	-88.38%	-4.72%	-83.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.60%	1.34%	+17.26%

Volatility

EPV vs. USDU - Volatility Comparison

ProShares UltraShort FTSE Europe (EPV) has a higher volatility of 12.17% compared to WisdomTree Bloomberg U.S. Dollar Bullish Fund (USDU) at 1.24%. This indicates that EPV's price experiences larger fluctuations and is considered to be riskier than USDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPV	USDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.17%	1.24%	+10.93%
Volatility (6M) Calculated over the trailing 6-month period	26.01%	4.31%	+21.70%
Volatility (1Y) Calculated over the trailing 1-year period	31.16%	5.70%	+25.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.75%	6.63%	+29.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.80%	7.46%	+30.34%

EPV vs. USDU - Expense Ratio Comparison

EPV has a 0.95% expense ratio, which is higher than USDU's 0.51% expense ratio.

Dividends

EPV vs. USDU - Dividend Comparison

EPV's dividend yield for the trailing twelve months is around 4.90%, more than USDU's 3.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPV ProShares UltraShort FTSE Europe	4.90%	4.80%	4.83%	3.17%	0.33%	0.01%	0.09%	1.10%	0.19%	0.00%	0.00%	0.00%
USDU WisdomTree Bloomberg U.S. Dollar Bullish Fund	3.77%	3.83%	3.97%	6.99%	7.83%	0.00%	0.69%	3.06%	0.88%	0.00%	0.00%	6.48%

Frequently Asked Questions

Can I hold both EPV and USDU in my portfolio?

EPV and USDU have a correlation of 0.57, 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 USDU?

EPV has higher volatility (12.17%) compared to USDU (1.24%). In terms of maximum drawdown, EPV dropped -99.38% vs USDU's -14.54%.

Which ETF is better, EPV or USDU?

On 10-year performance, USDU leads with 2.69% vs -22.41% for EPV. On fees, USDU is cheaper at 0.51% per year. On volatility, USDU has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPV or USDU?

Over the 10-year period, USDU has performed better with a 2.69% return vs -22.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPV or USDU?

USDU is cheaper with a 0.51% expense ratio, compared with 0.95% for EPV.

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

EPV has the higher dividend yield at 4.90%, compared with 3.77% for USDU.

What is the main difference between EPV and USDU?

EPV is categorized as Leveraged Equities, while USDU is Currency. They also come from different issuers: ProShares and WisdomTree. Their fees differ too: 0.95% for EPV and 0.51% for USDU.

Which has better risk-adjusted returns?

USDU currently has the higher Sharpe Ratio (0.81 vs -0.88), 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.