EUM vs. TSLZ

Last updated Jun 5, 2026

EUM (ProShares Short MSCI Emerging Markets) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. EUM is passively managed, while TSLZ is actively managed. Over the past year, EUM returned -32.85% vs -65.66% for TSLZ. At a 0.39 correlation, their price movements are largely independent. EUM charges 0.95%/yr vs 1.05%/yr for TSLZ.

Performance

EUM vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short MSCI Emerging Markets (EUM) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUM achieves a -21.40% return, which is significantly lower than TSLZ's -3.24% return.

EUM

• 1D: 1.09%
• 1M: -5.64%
• YTD: -21.40%
• 6M: -22.97%
• 1Y: -32.85%
• 3Y*: -15.90%
• 5Y*: -5.09%
• 10Y*: -10.22%

TSLZ

• 1D: 2.59%
• 1M: -16.87%
• YTD: -3.24%
• 6M: -3.97%
• 1Y: -65.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EUM vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EUM ProShares Short MSCI Emerging Markets	-21.40%	-22.61%	-0.83%	-8.26%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	-3.24%	-75.98%	-88.79%	-28.07%

Correlation

The correlation between EUM and TSLZ is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.39

Return for Risk

EUM vs. TSLZ — Risk / Return Rank

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

EUM

EUM Risk / Return Rank: 0
EUM Sharpe Ratio Rank: 0
EUM Sortino Ratio Rank: 0
EUM Omega Ratio Rank: 0
EUM Calmar Ratio Rank: 1
EUM Martin Ratio Rank: 0

TSLZ

TSLZ Risk / Return Rank: 3
TSLZ Sharpe Ratio Rank: 3
TSLZ Sortino Ratio Rank: 3
TSLZ Omega Ratio Rank: 3
TSLZ Calmar Ratio Rank: 2
TSLZ Martin Ratio Rank: 4

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.

EUM vs. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short MSCI Emerging Markets (EUM) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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.

	EUM	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.61	-0.72	-0.89
Sortino ratio: Return per unit of downside risk	-2.42	-1.01	-1.41
Omega ratio: Gain probability vs. loss probability	0.72	0.89	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.96	-0.86	-0.10
Martin ratio: Return relative to average drawdown	-1.91	-1.08	-0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUM vs. TSLZ - Sharpe Ratio Comparison

The current EUM Sharpe Ratio is -1.61, which is lower than the TSLZ Sharpe Ratio of -0.72. The chart below compares the historical Sharpe Ratios of EUM and TSLZ, 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

	EUM	TSLZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.61	-0.72	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.36	-0.67	+0.31

Drawdowns

EUM vs. TSLZ - Drawdown Comparison

The maximum EUM drawdown since its inception was -93.07%, smaller than the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for EUM and TSLZ.

Drawdown Indicators

	EUM	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-93.07%	-99.11%	+6.04%
Max Drawdown (1Y) Largest decline over 1 year	-34.25%	-76.62%	+42.37%
Max Drawdown (3Y) Largest decline over 3 years	-47.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-50.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-68.27%	—	—
Current Drawdown Current decline from peak	-92.91%	-98.98%	+6.07%
Average Drawdown Average peak-to-trough decline	-77.17%	-75.39%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.41%	60.77%	-43.36%

Volatility

EUM vs. TSLZ - Volatility Comparison

The current volatility for ProShares Short MSCI Emerging Markets (EUM) is 8.73%, while T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a volatility of 24.24%. This indicates that EUM experiences smaller price fluctuations and is considered to be less risky than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUM	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.73%	24.24%	-15.51%
Volatility (6M) Calculated over the trailing 6-month period	17.94%	55.00%	-37.06%
Volatility (1Y) Calculated over the trailing 1-year period	20.45%	91.68%	-71.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.14%	116.96%	-97.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	116.96%	-96.42%

EUM vs. TSLZ - Expense Ratio Comparison

EUM has a 0.95% expense ratio, which is lower than TSLZ's 1.05% expense ratio.

Dividends

EUM vs. TSLZ - Dividend Comparison

EUM's dividend yield for the trailing twelve months is around 4.54%, more than TSLZ's 0.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EUM ProShares Short MSCI Emerging Markets	4.54%	3.98%	4.22%	3.86%	0.82%	0.00%	0.15%	1.35%	0.88%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.71%	0.69%	2.08%	12.15%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EUM and TSLZ in my portfolio?

EUM and TSLZ have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EUM or TSLZ?

TSLZ has higher volatility (24.24%) compared to EUM (8.73%). In terms of maximum drawdown, EUM dropped -93.07% vs TSLZ's -99.11%.

Which ETF is better, EUM or TSLZ?

On 1-year performance, EUM leads with -32.85% vs -65.66% for TSLZ. On fees, EUM is cheaper at 0.95% per year. On volatility, EUM has been the lower-risk option at 8.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUM or TSLZ?

Over the 1-year period, EUM has performed better with a -32.85% return vs -65.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUM or TSLZ?

EUM is cheaper with a 0.95% expense ratio, compared with 1.05% for TSLZ.

Which ETF pays a higher dividend yield, EUM or TSLZ?

EUM has the higher dividend yield at 4.54%, compared with 0.71% for TSLZ.

What is the main difference between EUM and TSLZ?

They also come from different issuers: ProShares and T-Rex. Their fees differ too: 0.95% for EUM and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLZ currently has the higher Sharpe Ratio (-0.72 vs -1.61), 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.