EQRR vs. OOSP

Last updated Jun 4, 2026

EQRR (ProShares Equities for Rising Rates ETF) and OOSP (Obra Opportunistic Structured Products ETF) are both exchange-traded funds - EQRR is a Mid Cap Value Equities fund tracking the Nasdaq US Large Cap Equity Rising Rates Index, while OOSP is a Multisector Bonds fund actively managed by Obra. EQRR is passively managed, while OOSP is actively managed. Over the past year, EQRR returned 41.70% vs 6.71% for OOSP. At a correlation of -0.09, they often move in opposite directions. EQRR charges 0.35%/yr vs 0.90%/yr for OOSP.

Performance

EQRR vs. OOSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Equities for Rising Rates ETF (EQRR) and Obra Opportunistic Structured Products ETF (OOSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQRR achieves a 27.33% return, which is significantly higher than OOSP's 2.41% return.

EQRR

• 1D: -0.58%
• 1M: 8.10%
• YTD: 27.33%
• 6M: 27.15%
• 1Y: 41.70%
• 3Y*: 22.28%
• 5Y*: 12.33%
• 10Y*: —

OOSP

• 1D: 0.00%
• 1M: 0.91%
• YTD: 2.41%
• 6M: 2.51%
• 1Y: 6.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EQRR vs. OOSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EQRR ProShares Equities for Rising Rates ETF	27.33%	15.49%	-5.75%
OOSP Obra Opportunistic Structured Products ETF	2.41%	7.41%	6.43%

Correlation

The correlation between EQRR and OOSP is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Apr 11, 2024	-0.09

Return for Risk

EQRR vs. OOSP — Risk / Return Rank

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

EQRR

EQRR Risk / Return Rank: 91
EQRR Sharpe Ratio Rank: 90
EQRR Sortino Ratio Rank: 89
EQRR Omega Ratio Rank: 88
EQRR Calmar Ratio Rank: 95
EQRR Martin Ratio Rank: 95

OOSP

OOSP Risk / Return Rank: 68
OOSP Sharpe Ratio Rank: 52
OOSP Sortino Ratio Rank: 54
OOSP Omega Ratio Rank: 61
OOSP Calmar Ratio Rank: 88
OOSP Martin Ratio Rank: 87

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.

EQRR vs. OOSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Equities for Rising Rates ETF (EQRR) and Obra Opportunistic Structured Products ETF (OOSP). 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.

	EQRR	OOSP	Difference
Sharpe ratio: Return per unit of total volatility	3.11	1.82	+1.29
Sortino ratio: Return per unit of downside risk	4.10	2.64	+1.46
Omega ratio: Gain probability vs. loss probability	1.56	1.38	+0.18
Calmar ratio: Return relative to maximum drawdown	8.47	5.13	+3.33
Martin ratio: Return relative to average drawdown	31.54	19.01	+12.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQRR vs. OOSP - Sharpe Ratio Comparison

The current EQRR Sharpe Ratio is 3.11, which is higher than the OOSP Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of EQRR and OOSP, 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

	EQRR	OOSP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.11	1.82	+1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	2.29	-1.86

Drawdowns

EQRR vs. OOSP - Drawdown Comparison

The maximum EQRR drawdown since its inception was -57.93%, which is greater than OOSP's maximum drawdown of -1.31%. Use the drawdown chart below to compare losses from any high point for EQRR and OOSP.

Drawdown Indicators

	EQRR	OOSP	Difference
Max Drawdown Largest peak-to-trough decline	-57.93%	-1.31%	-56.62%
Max Drawdown (1Y) Largest decline over 1 year	-4.95%	-1.31%	-3.64%
Max Drawdown (3Y) Largest decline over 3 years	-17.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.75%	—	—
Current Drawdown Current decline from peak	-0.58%	-0.18%	-0.40%
Average Drawdown Average peak-to-trough decline	-10.08%	-0.20%	-9.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	0.35%	+0.98%

Volatility

EQRR vs. OOSP - Volatility Comparison

ProShares Equities for Rising Rates ETF (EQRR) has a higher volatility of 4.72% compared to Obra Opportunistic Structured Products ETF (OOSP) at 1.23%. This indicates that EQRR's price experiences larger fluctuations and is considered to be riskier than OOSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQRR	OOSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	1.23%	+3.49%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	2.23%	+8.12%
Volatility (1Y) Calculated over the trailing 1-year period	13.50%	3.71%	+9.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	3.35%	+18.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	3.35%	+21.52%

EQRR vs. OOSP - Expense Ratio Comparison

EQRR has a 0.35% expense ratio, which is lower than OOSP's 0.90% expense ratio.

Dividends

EQRR vs. OOSP - Dividend Comparison

EQRR's dividend yield for the trailing twelve months is around 1.20%, less than OOSP's 6.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQRR ProShares Equities for Rising Rates ETF	1.20%	1.70%	2.17%	2.77%	2.34%	1.71%	2.17%	2.05%	2.47%	0.69%
OOSP Obra Opportunistic Structured Products ETF	6.47%	6.71%	5.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EQRR and OOSP in my portfolio?

EQRR and OOSP have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQRR or OOSP?

EQRR has higher volatility (4.72%) compared to OOSP (1.23%). In terms of maximum drawdown, EQRR dropped -57.93% vs OOSP's -1.31%.

Which ETF is better, EQRR or OOSP?

On 1-year performance, EQRR leads with 41.70% vs 6.71% for OOSP. On fees, EQRR is cheaper at 0.35% per year. On volatility, OOSP has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQRR or OOSP?

Over the 1-year period, EQRR has performed better with a 41.70% return vs 6.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQRR or OOSP?

EQRR is cheaper with a 0.35% expense ratio, compared with 0.90% for OOSP.

Which ETF pays a higher dividend yield, EQRR or OOSP?

OOSP has the higher dividend yield at 6.47%, compared with 1.20% for EQRR.

What is the main difference between EQRR and OOSP?

EQRR is categorized as Mid Cap Value Equities, while OOSP is Multisector Bonds. They also come from different issuers: ProShares and Obra. Their fees differ too: 0.35% for EQRR and 0.90% for OOSP.

Which has better risk-adjusted returns?

EQRR currently has the higher Sharpe Ratio (3.11 vs 1.82), 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.