EUO vs. SARK

Last updated Jun 4, 2026

EUO (ProShares UltraShort Euro) and SARK (Tradr Short Innovation Daily ETF) are both exchange-traded funds - EUO is a Leveraged Currency fund tracking the USD/EUR Exchange Rate (-200%), while SARK is a Inverse Equities fund actively managed by AXS. EUO is passively managed, while SARK is actively managed. Over the past 3 years, EUO returned -0.54%/yr vs -30.74%/yr for SARK. At a 0.25 correlation, their price movements are largely independent. EUO charges 0.99%/yr vs 0.75%/yr for SARK.

Performance

EUO vs. SARK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Euro (EUO) and Tradr Short Innovation Daily ETF (SARK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUO achieves a 4.54% return, which is significantly higher than SARK's -6.78% return.

EUO

• 1D: 0.50%
• 1M: 2.09%
• YTD: 4.54%
• 6M: 3.41%
• 1Y: 1.02%
• 3Y*: -0.54%
• 5Y*: 5.54%
• 10Y*: 2.45%

SARK

• 1D: 2.29%
• 1M: -0.49%
• YTD: -6.78%
• 6M: -2.33%
• 1Y: -33.81%
• 3Y*: -30.74%
• 5Y*: —
• 10Y*: —

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

EUO vs. SARK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EUO ProShares UltraShort Euro	4.54%	-18.87%	19.79%	-1.02%	13.88%	4.06%
SARK Tradr Short Innovation Daily ETF	-6.78%	-25.93%	-36.90%	-46.32%	83.35%	20.78%

Correlation

The correlation between EUO and SARK is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	0.25

Return for Risk

EUO vs. SARK — Risk / Return Rank

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

EUO

EUO Risk / Return Rank: 9
EUO Sharpe Ratio Rank: 10
EUO Sortino Ratio Rank: 9
EUO Omega Ratio Rank: 9
EUO Calmar Ratio Rank: 10
EUO Martin Ratio Rank: 10

SARK

SARK Risk / Return Rank: 2
SARK Sharpe Ratio Rank: 2
SARK Sortino Ratio Rank: 2
SARK Omega Ratio Rank: 2
SARK Calmar Ratio Rank: 2
SARK 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.

EUO vs. SARK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Euro (EUO) and Tradr Short Innovation Daily ETF (SARK). 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.

	EUO	SARK	Difference
Sharpe ratio Return per unit of total volatility	0.08	-0.95	+1.03
Sortino ratio Return per unit of downside risk	0.20	-1.30	+1.50
Omega ratio Gain probability vs. loss probability	1.02	0.86	+0.17
Calmar ratio Return relative to maximum drawdown	0.13	-0.83	+0.96
Martin ratio Return relative to average drawdown	0.28	-1.11	+1.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUO vs. SARK - Sharpe Ratio Comparison

The current EUO Sharpe Ratio is 0.08, which is higher than the SARK Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of EUO and SARK, 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

	EUO	SARK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.08	-0.95	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	-0.24	+0.29

Drawdowns

EUO vs. SARK - Drawdown Comparison

The maximum EUO drawdown since its inception was -38.58%, smaller than the maximum SARK drawdown of -81.07%. Use the drawdown chart below to compare losses from any high point for EUO and SARK.

Drawdown Indicators

	EUO	SARK	Difference
Max Drawdown Largest peak-to-trough decline	-38.58%	-81.07%	+42.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-40.75%	+32.70%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	-74.42%	+49.96%
Max Drawdown (5Y) Largest decline over 5 years	-25.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.61%	—	—
Current Drawdown Current decline from peak	-18.43%	-79.42%	+60.99%
Average Drawdown Average peak-to-trough decline	-18.50%	-46.46%	+27.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	30.47%	-26.74%

Volatility

EUO vs. SARK - Volatility Comparison

The current volatility for ProShares UltraShort Euro (EUO) is 2.48%, while Tradr Short Innovation Daily ETF (SARK) has a volatility of 9.13%. This indicates that EUO experiences smaller price fluctuations and is considered to be less risky than SARK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUO	SARK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	9.13%	-6.65%
Volatility (6M) Calculated over the trailing 6-month period	8.71%	25.05%	-16.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.65%	35.91%	-23.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	56.24%	-40.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	56.24%	-41.36%

EUO vs. SARK - Expense Ratio Comparison

EUO has a 0.99% expense ratio, which is higher than SARK's 0.75% expense ratio.

Dividends

EUO vs. SARK - Dividend Comparison

EUO has not paid dividends to shareholders, while SARK's dividend yield for the trailing twelve months is around 3.02%.

Position	TTM	2025	2024	2023	2022
EUO ProShares UltraShort Euro	0.00%	0.00%	0.00%	0.00%	0.00%
SARK Tradr Short Innovation Daily ETF	3.02%	2.82%	15.49%	12.57%	25.22%

Frequently Asked Questions

Can I hold both EUO and SARK in my portfolio?

EUO and SARK have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EUO or SARK?

SARK has higher volatility (9.13%) compared to EUO (2.48%). In terms of maximum drawdown, EUO dropped -38.58% vs SARK's -81.07%.

Which ETF is better, EUO or SARK?

On 3-year performance, EUO leads with -0.54% vs -30.74% for SARK. On fees, SARK is cheaper at 0.75% per year. On volatility, EUO has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUO or SARK?

Over the 3-year period, EUO has performed better with a -0.54% return vs -30.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUO or SARK?

SARK is cheaper with a 0.75% expense ratio, compared with 0.99% for EUO.

Which ETF pays a higher dividend yield, EUO or SARK?

SARK has the higher dividend yield at 3.02%, compared with 0.00% for EUO.

What is the main difference between EUO and SARK?

EUO is categorized as Leveraged Currency, while SARK is Inverse Equities. They also come from different issuers: ProShares and AXS. Their fees differ too: 0.99% for EUO and 0.75% for SARK.

Which has better risk-adjusted returns?

EUO currently has the higher Sharpe Ratio (0.08 vs -0.94), 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.