EUO vs. JPIN
EUO (ProShares UltraShort Euro) and JPIN (J.P. Morgan Diversified Return International Equity ETF) are both exchange-traded funds - EUO is a Leveraged Currency fund tracking the USD/EUR Exchange Rate (-200%), while JPIN is a Foreign Large Cap Equities fund tracking the JPMorgan Diversified Factor International Equity Index. Both are passively managed. Over the past 10 years, EUO returned 2.31%/yr vs 7.75%/yr for JPIN. At a correlation of -0.37, they often move in opposite directions. EUO charges 0.99%/yr vs 0.37%/yr for JPIN.
Performance
EUO vs. JPIN - Performance Comparison
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Returns By Period
In the year-to-date period, EUO achieves a 8.30% return, which is significantly lower than JPIN's 9.49% return. Over the past 10 years, EUO has underperformed JPIN with an annualized return of 2.31%, while JPIN has yielded a comparatively higher 7.75% annualized return.
EUO
- 1D
- 0.62%
- 1M
- 3.48%
- 6M
- 5.41%
- YTD
- 8.30%
- 1Y
- 8.67%
- 3Y*
- 3.78%
- 5Y*
- 5.02%
- 10Y*
- 2.31%
JPIN
- 1D
- -0.19%
- 1M
- -1.00%
- 6M
- 6.68%
- YTD
- 9.49%
- 1Y
- 20.64%
- 3Y*
- 16.55%
- 5Y*
- 8.34%
- 10Y*
- 7.75%
EUO vs. JPIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUO ProShares UltraShort Euro | 8.30% | -18.87% | 19.79% | -1.02% | 13.88% | 14.83% | -15.97% | 10.51% | 14.39% | -21.71% |
JPIN J.P. Morgan Diversified Return International Equity ETF | 9.49% | 33.27% | 2.66% | 17.45% | -14.14% | 6.79% | 4.85% | 16.07% | -13.12% | 25.32% |
Correlation
The correlation between EUO and JPIN is -0.59, 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 | -0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | -0.37 |
Over the past year, the inverse relationship between EUO and JPIN has strengthened: their correlation has moved from -0.37 to -0.59, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
EUO vs. JPIN — Risk / Return Rank
EUO
JPIN
EUO vs. JPIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Euro (EUO) and J.P. Morgan Diversified Return International Equity ETF (JPIN). 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.
| EUO | JPIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.27 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.99 | -0.91 |
| Martin ratioReturn relative to average drawdown | 2.55 | 6.41 | -3.87 |
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Drawdowns
EUO vs. JPIN - Drawdown Comparison
The maximum EUO drawdown since its inception was -38.58%, which is greater than JPIN's maximum drawdown of -36.69%. Use the drawdown chart below to compare losses from any high point for EUO and JPIN.
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Drawdown Indicators
| EUO | JPIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.58% | -36.69% | -1.89% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -10.41% | +2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -24.46% | -12.32% | -12.14% |
Max Drawdown (5Y)Largest decline over 5 years | -25.28% | -29.61% | +4.33% |
Max Drawdown (10Y)Largest decline over 10 years | -29.61% | -36.69% | +7.08% |
Current DrawdownCurrent decline from peak | -15.51% | -3.08% | -12.43% |
Average DrawdownAverage peak-to-trough decline | -18.49% | -6.99% | -11.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 3.23% | +0.18% |
Volatility
EUO vs. JPIN - Volatility Comparison
The current volatility for ProShares UltraShort Euro (EUO) is 3.14%, while J.P. Morgan Diversified Return International Equity ETF (JPIN) has a volatility of 3.54%. This indicates that EUO experiences smaller price fluctuations and is considered to be less risky than JPIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUO | JPIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 3.54% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.19% | 12.24% | -3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.59% | 14.17% | -1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.55% | 14.62% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.77% | 15.76% | -0.99% |
EUO vs. JPIN - Expense Ratio Comparison
EUO has a 0.99% expense ratio, which is higher than JPIN's 0.37% expense ratio.
Dividends
EUO vs. JPIN - Dividend Comparison
EUO has not paid dividends to shareholders, while JPIN's dividend yield for the trailing twelve months is around 4.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUO ProShares UltraShort Euro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPIN J.P. Morgan Diversified Return International Equity ETF | 4.17% | 4.50% | 4.20% | 6.22% | 3.06% | 5.03% | 2.45% | 3.30% | 2.72% | 2.12% | 1.67% | 2.18% |
Frequently Asked Questions
EUO and JPIN have a correlation of -0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPIN has higher volatility (3.54%) compared to EUO (3.14%). In terms of maximum drawdown, EUO dropped -38.58% vs JPIN's -36.69%.
On 10-year performance, JPIN leads with 7.75% vs 2.31% for EUO. On fees, JPIN is cheaper at 0.37% per year. On volatility, EUO has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, JPIN has performed better with a 7.75% return vs 2.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPIN is cheaper with a 0.37% expense ratio, compared with 0.99% for EUO.
JPIN has the higher dividend yield at 4.17%, compared with 0.00% for EUO.
EUO is categorized as Leveraged Currency, while JPIN is Foreign Large Cap Equities. EUO tracks USD/EUR Exchange Rate (-200%), while JPIN tracks JPMorgan Diversified Factor International Equity Index. They also come from different issuers: ProShares and JPMorgan. Their fees differ too: 0.99% for EUO and 0.37% for JPIN.
JPIN currently has the higher Sharpe Ratio (1.46 vs 0.69), 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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