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 -33.62%/yr vs 5.57%/yr for UJB. At a correlation of -0.26, 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 -35.79% return, which is significantly lower than UJB's 1.03% return. Over the past 10 years, ERY has underperformed UJB with an annualized return of -33.62%, while UJB has yielded a comparatively higher 5.57% annualized return.
ERY
- 1D
- -2.10%
- 1M
- 12.20%
- YTD
- -35.79%
- 6M
- -36.68%
- 1Y
- -43.63%
- 3Y*
- -24.59%
- 5Y*
- -35.93%
- 10Y*
- -33.62%
UJB
- 1D
- 0.05%
- 1M
- -0.05%
- YTD
- 1.03%
- 6M
- 1.02%
- 1Y
- 6.78%
- 3Y*
- 12.05%
- 5Y*
- 2.74%
- 10Y*
- 5.57%
ERY vs. UJB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -35.79% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
UJB ProShares Ultra High Yield | 1.03% | 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 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | -0.26 |
The correlation between ERY and UJB shifts across timeframes, from -0.26 (10 years) to 0.10 (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 | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -3.05 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.17 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.36 | -2.13 |
| Martin ratioReturn relative to average drawdown | -1.37 | 5.71 | -7.08 |
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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 | -66.61% | -9.47% | -57.14% |
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% | -0.63% | -99.36% |
Average DrawdownAverage peak-to-trough decline | -96.91% | -6.15% | -90.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.93% | 1.19% | +30.74% |
Volatility
ERY vs. UJB - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 13.80% compared to ProShares Ultra High Yield (UJB) at 1.86%. 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 | 13.80% | 1.86% | +11.94% |
Volatility (6M)Calculated over the trailing 6-month period | 33.50% | 5.90% | +27.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.48% | 7.34% | +34.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.86% | 14.69% | +37.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.53% | 18.01% | +52.52% |
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 2.87%, less than UJB's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 2.87% | 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 | 3.20% | 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 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (13.80%) compared to UJB (1.86%). In terms of maximum drawdown, ERY dropped -99.99% vs UJB's -40.14%.
On 10-year performance, UJB leads with 5.57% vs -33.62% for ERY. On fees, UJB is cheaper at 0.95% per year. On volatility, UJB has been the lower-risk option at 1.86%. 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 5.57% return vs -33.62%. 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.
UJB has the higher dividend yield at 3.20%, compared with 2.87% for ERY.
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 (0.93 vs -1.06), 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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