ERY vs. UJB
ERY (Direxion Daily Energy Bear 2X Shares) and UJB (ProShares Ultra High Yield) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), while UJB is a Leveraged Bonds fund tracking the Markit iBoxx $ Liquid High Yield Index. Both are passively managed. Over the past 10 years, ERY returned -33.12%/yr vs 5.88%/yr for UJB. At a correlation of -0.25, they often move in opposite directions. ERY charges 1.07%/yr vs 0.95%/yr for UJB.
Performance
ERY vs. UJB - Performance Comparison
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Returns By Period
In the year-to-date period, ERY achieves a -43.69% return, which is significantly lower than UJB's 1.28% return. Over the past 10 years, ERY has underperformed UJB with an annualized return of -33.12%, while UJB has yielded a comparatively higher 5.88% annualized return.
ERY
- 1D
- -2.39%
- 1M
- -11.68%
- 6M
- -35.52%
- YTD
- -43.69%
- 1Y
- -48.14%
- 3Y*
- -25.72%
- 5Y*
- -40.50%
- 10Y*
- -33.12%
UJB
- 1D
- -0.42%
- 1M
- 0.43%
- 6M
- 0.45%
- YTD
- 1.28%
- 1Y
- 6.45%
- 3Y*
- 10.66%
- 5Y*
- 2.80%
- 10Y*
- 5.88%
ERY vs. UJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -43.69% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
UJB ProShares Ultra High Yield | 1.28% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
Correlation
The correlation between ERY and UJB is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | -0.25 |
The correlation between ERY and UJB shifts across timeframes, from -0.25 (10 years) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ERY vs. UJB — Risk / Return Rank
ERY
UJB
ERY vs. UJB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and ProShares Ultra High Yield (UJB). 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.
| ERY | UJB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.17 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 1.29 | -2.14 |
| Martin ratioReturn relative to average drawdown | -1.42 | 5.46 | -6.88 |
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Drawdowns
ERY vs. UJB - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than UJB's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for ERY and UJB.
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Drawdown Indicators
| ERY | UJB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -40.14% | -59.85% |
Max Drawdown (1Y)Largest decline over 1 year | -56.88% | -5.01% | -51.87% |
Max Drawdown (3Y)Largest decline over 3 years | -65.95% | -9.47% | -56.48% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | -30.14% | -63.90% |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | -40.14% | -59.52% |
Current DrawdownCurrent decline from peak | -99.99% | -0.49% | -99.50% |
Average DrawdownAverage peak-to-trough decline | -96.92% | -6.13% | -90.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.81% | 1.18% | +32.63% |
Volatility
ERY vs. UJB - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 12.82% compared to ProShares Ultra High Yield (UJB) at 1.35%. This indicates that ERY's price experiences larger fluctuations and is considered to be riskier than UJB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERY | UJB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.82% | 1.35% | +11.47% |
Volatility (6M)Calculated over the trailing 6-month period | 32.88% | 5.94% | +26.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.84% | 7.27% | +34.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.62% | 14.68% | +36.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.39% | 17.68% | +52.71% |
ERY vs. UJB - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than UJB's 0.95% expense ratio.
Dividends
ERY vs. UJB - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 3.28%, more than UJB's 3.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.28% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% | 0.00% | 0.00% | 0.00% |
UJB ProShares Ultra High Yield | 3.19% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
Frequently Asked Questions
ERY and UJB have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (12.82%) compared to UJB (1.35%). In terms of maximum drawdown, ERY dropped -99.99% vs UJB's -40.14%.
On 10-year performance, UJB leads with 5.88% vs -33.12% for ERY. On fees, UJB is cheaper at 0.95% per year. On volatility, UJB has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UJB has performed better with a 5.88% return vs -33.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UJB is cheaper with a 0.95% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.28%, compared with 3.19% for UJB.
ERY is categorized as Leveraged Equities, while UJB is Leveraged Bonds. ERY tracks Energy Select Sector Index (-300%), while UJB tracks Markit iBoxx $ Liquid High Yield Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.07% for ERY and 0.95% for UJB.
UJB currently has the higher Sharpe Ratio (0.89 vs -1.15), 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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