EWV vs. EZJ
Compare and contrast key facts about ProShares UltraShort MSCI Japan (EWV) and ProShares Ultra MSCI Japan (EZJ).
EWV and EZJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWV is a passively managed fund by ProShares that tracks the performance of the MSCI Japan Index (-200%). It was launched on Nov 6, 2007. EZJ is a passively managed fund by ProShares that tracks the performance of the MSCI Japan Index (200%). It was launched on Jun 2, 2009. Both EWV and EZJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EWV vs. EZJ - Performance Comparison
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EWV vs. EZJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWV ProShares UltraShort MSCI Japan | -15.06% | -37.70% | -11.06% | -28.34% | 34.35% | -10.19% | -38.57% | -30.38% | 29.90% | -36.24% |
EZJ ProShares Ultra MSCI Japan | 11.08% | 42.72% | 3.31% | 30.78% | -38.23% | -1.96% | 22.21% | 33.76% | -30.99% | 49.10% |
Returns By Period
In the year-to-date period, EWV achieves a -15.06% return, which is significantly lower than EZJ's 11.08% return. Over the past 10 years, EWV has underperformed EZJ with an annualized return of -19.92%, while EZJ has yielded a comparatively higher 10.14% annualized return.
EWV
- 1D
- -5.13%
- 1M
- 6.61%
- YTD
- -15.06%
- 6M
- -21.77%
- 1Y
- -45.71%
- 3Y*
- -27.01%
- 5Y*
- -15.32%
- 10Y*
- -19.92%
EZJ
- 1D
- 4.93%
- 1M
- -9.50%
- YTD
- 11.08%
- 6M
- 18.75%
- 1Y
- 56.99%
- 3Y*
- 23.69%
- 5Y*
- 4.55%
- 10Y*
- 10.14%
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EWV vs. EZJ - Expense Ratio Comparison
Both EWV and EZJ have an expense ratio of 0.95%.
Return for Risk
EWV vs. EZJ — Risk / Return Rank
EWV
EZJ
EWV vs. EZJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Japan (EWV) and ProShares Ultra MSCI Japan (EZJ). 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.
| EWV | EZJ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.03 | 1.29 | -2.32 |
Sortino ratioReturn per unit of downside risk | -1.54 | 1.85 | -3.39 |
Omega ratioGain probability vs. loss probability | 0.81 | 1.25 | -0.45 |
Calmar ratioReturn relative to maximum drawdown | -0.73 | 2.06 | -2.79 |
Martin ratioReturn relative to average drawdown | -1.05 | 7.31 | -8.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EWV | EZJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.03 | 1.29 | -2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | 0.13 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.57 | 0.29 | -0.86 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.45 | 0.21 | -0.66 |
Correlation
The correlation between EWV and EZJ is -0.92. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
EWV vs. EZJ - Dividend Comparison
EWV's dividend yield for the trailing twelve months is around 4.22%, more than EZJ's 1.86% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EWV ProShares UltraShort MSCI Japan | 4.22% | 3.63% | 3.39% | 3.42% | 0.65% | 0.00% | 0.00% | 0.33% | 0.00% |
EZJ ProShares Ultra MSCI Japan | 1.86% | 1.13% | 2.09% | 1.11% | 0.56% | 0.00% | 0.00% | 0.24% | 4.49% |
Drawdowns
EWV vs. EZJ - Drawdown Comparison
The maximum EWV drawdown since its inception was -99.12%, which is greater than EZJ's maximum drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for EWV and EZJ.
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Drawdown Indicators
| EWV | EZJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.12% | -58.63% | -40.49% |
Max Drawdown (1Y)Largest decline over 1 year | -61.39% | -26.78% | -34.61% |
Max Drawdown (5Y)Largest decline over 5 years | -77.29% | -58.63% | -18.66% |
Max Drawdown (10Y)Largest decline over 10 years | -91.03% | -58.63% | -32.40% |
Current DrawdownCurrent decline from peak | -98.98% | -17.41% | -81.57% |
Average DrawdownAverage peak-to-trough decline | -84.14% | -21.39% | -62.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.88% | 7.53% | +35.35% |
Volatility
EWV vs. EZJ - Volatility Comparison
ProShares UltraShort MSCI Japan (EWV) and ProShares Ultra MSCI Japan (EZJ) have volatilities of 19.59% and 18.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWV | EZJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.59% | 18.88% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 30.79% | 31.15% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.59% | 44.49% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.36% | 36.39% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.99% | 34.55% | +0.44% |